Wal-Mart releases 4Q results
Posted: February 18, 2010 at 4:27 p.m.
Wal-Mart Stores Inc. trucks take to the road near the company’s Bentonville distribution center in this file photo.
Wal-Mart said Thursday that its fourth-quarter profit increased 22 percent from a year ago, as results were boosted by robust international growth and a concerted cost-cutting effort. But sales at its U.S. namesake division fell for the first time.
Here’s a breakdown of the quarter’s report:
EARNINGS: Wal-Mart earned $4.63 billion, or $1.21 per share, in the quarter, up from $3.8 billion, or 96 cents per share, in the same quarter last year.
TOTAL SALES: Overall, up 4.6 percent on a 0.5 percent decline in Walmart’s U.S. division, a 3.8 percent gain in its Sam’s Club stores and a 19.5 percent surge in its international business.
SALES AT STORES OPEN AT LEAST A YEAR: Overall, down 1.6 percent on a 2.0 percent drop in the company’s namesake U.S. division and a 0.7 percent gain at its Sam’s Club division. The figures exclude fuel. The company doesn’t release international figures.
Results, which exclude gasoline sales, were below estimates from analysts surveyed by Thomson Reuters, who expected the measure to be unchanged from a year ago.
WINNERS AND LOSERS: The company said health and wellness items were strong, as were pharmacy sales. Home goods were weaker than a year ago, except for products related to eating and entertaining at home.
The clothing business was disappointing for the quarter and for the year; the company is now refocusing on fashion basics. Food sales were hurt by deflation, but excluding that factor, the company said it sold groceries at the same pace as its rivals compared with a year ago.
INVENTORY: Down 7.6 percent at the company’s U.S. namesake stores.
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