Home / Knowledge / News / Apparel/Garments / Walmart Q2 FY'13 sales climb 2.4% to $116.2bn
Walmart Q2 FY'13 sales climb 2.4% to $116.2bn
16
Aug '13
Wal-Mart Stores, Inc. reported financial results for the second quarter ended Jul. 31, 2013. Net sales were $116.2 billion, an increase of 2.4 percent over last year. On a constant currency basis,1 net sales would have increased 2.8 percent to $116.7 billion. Membership and other income decreased 4.3 percent versus last year. Total revenue was $116.9 billion, an increase of $2.7 billion, or 2.3 percent over last year.

Consolidated net income attributable to Walmart was $4.1 billion, up 1.3 percent. Diluted earnings per share attributable to Walmart (EPS) were $1.24, a 5.1 percent increase, compared to $1.18 last year. EPS for the quarter was impacted by approximately $0.01 due to a charge for a certain non-income tax matter recorded in operating expenses within Walmart International.

Solid earnings performance

"We delivered a solid increase in earnings per share for the second quarter," said Mike Duke, Wal-Mart Stores, Inc. president and chief executive officer. "Consolidated net sales and our Walmart U.S. comp were below expectations. While the retail environment was challenging across all of our markets, the Walmart U.S. and Sam's Club businesses improved comp sales from the first quarter, and the growth of International sales was consistent.

"I'm encouraged by our position to execute in the second half of the year, particularly with the steps we're taking to improve performance," said Duke. "There are areas of our business where we can do a better job, and we will. I'm confident in our associates' abilities to deliver for our customers with EDLP and for shareholders with improved expense savings."

Net sales guidance

"The retail environment remains challenging in the U.S. and our international markets, as customers are cautious in their spending. Net sales in the first six months were below our expectations, so we are updating our forecast for net sales to grow between 2 and 3 percent for the full year versus our previous range of 5 to 6 percent," said Holley. "This revision reflects our view of current global business trends, and significant ongoing headwinds from anticipated currency exchange rate fluctuations."

EPS guidance

"Diluted earnings per share for the third quarter of fiscal year 2014 are expected to range between $1.11 and $1.16. This compares to $1.08 per share last year," said Holley. "For the full year, we are updating our EPS guidance to range between $5.10 and $5.30 per share. This compares to our previous range of $5.20 to $5.40. This guidance takes into account the challenging sales and operating environment.

"As we've seen in the past, discrete tax items have had a meaningful impact on our effective tax rate and reported results in the back half of our fiscal years. We anticipate that a wider range of between 31 and 33 percent is now possible for our full year effective tax rate, versus our previous range of 32 to 33 percent. In addition, we believe expenses for FCPA matters and compliance programs will be between $75 and $80 million for both the third and fourth quarters."

Click here to read full results

Walmart


Must ReadView All

India begins review of anti-dumping duty on caustic soda

Textiles | On 23rd Nov 2017

India begins review of anti-dumping duty on caustic soda

The Directorate General of Anti-Dumping & Allied Duties (DGAD), under ...

Sri Lanka to set up 150 mini apparel units

Apparel/Garments | On 23rd Nov 2017

Sri Lanka to set up 150 mini apparel units

A mini apparel factory was opened recently at Sri Lanka’s Menik Farm...

Japanese stores witness dip in apparel sales in October

Apparel/Garments | On 23rd Nov 2017

Japanese stores witness dip in apparel sales in October

Sales of apparel, both in department stores and in retail chain...

Interviews View All

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

November 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search