Home / Knowledge / News / Apparel/Garments / Q4FY14 sales inch up 1.4% at global retailer Wal-Mart
Q4FY14 sales inch up 1.4% at global retailer Wal-Mart
27
Feb '15
For the fourth fiscal quarter ended January 31, 2015, Wal-Mart Stores, Inc, the biggest global retailer posted a 1.4 per cent year over year hike in consolidated net sales.

Consolidated net sales for the fourth quarter amounted to $130.7 billion, up 1.4 per cent over the corresponding period of the previous fiscal.

According to a Wal-Mart press release, this quarter included the negative impact of approximately $2.6 billion from currency exchange rate fluctuations.

On a constant currency basis, net sales rose 3.5 per cent to $133.2 billion, while membership and other income declined 0.5 per cent.

For the reporting quarter, consolidated net income totaled to $5.0 billion, a massive increase of 12.1 percent.

Diluted earnings per share from continuing operations attributable to Walmart were $1.53, compared to last year's $1.34.

For the full fiscal 2015, consolidated net sales for the year amounted to $482.2 billion, a rise of 1.9 per cent over fiscal 2014.

“Net sales included approximately $5.3 billion of negative impact from currency exchange rate fluctuations, while membership and other income expanded 6.3 per cent.”

Net income for fiscal 2015 climbed by 2.1 per cent from the previous fiscal to $16.4 billion and diluted earnings per share from continuing operations stood at $4.99, or 2.9 per cent above last fiscal.

Alongside, the US retailer also announced a significant investment in its people and e-commerce businesses for the new fiscal year, along with its annual shareholder dividend.

CEO Doug McMillon announced a bold new initiative on pay and training for US associates.

According to Wal-Mart, around 500,000 full and part-time associates at Wal-Mart US stores and Sam's Clubs will receive pay raises in the first half of the current fiscal year.

Current and future associates will benefit from this initiative, which ensures that Wal-Mart hourly associates earn at least $1.75 above today's federal minimum wage, or $9.00 per hour, in April.

The following year by February 1, 2016, current associates will earn at least $10.00 per hour.

“Like many other global companies, we faced significant headwinds from currency exchange rate fluctuations, so I am pleased that we delivered fiscal year revenue of $486 billion,” Mcmillon said.

He added, “We will continue to integrate our physical locations with a great e-commerce and mobile commerce business.” (AR)

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 24th Jul 2017

Irani terms GST as a ‘great step towards transparency’

Union textiles minister Smriti Irani has termed the Goods and...

L-R: Dhanapal, JMD, Best Corporation; Prabhu Damodaran, Convenor, ITF; Narayanasamy, MD, Micro Cotspin; Senthilnathan, MD Rasitex India; and Sabapathy, MD, Prasanna Spinning Mills

Textiles | On 24th Jul 2017

TN mills seek partnership with cotton growing states

Spinning mills in Tamil Nadu are seeking stronger partnership with...

Textiles | On 24th Jul 2017

TEA urges Tamil Nadu govt to announce textile policy

The Tiruppur Exporters' Association (TEA) has urged the state...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Silvia Venturini Fendi
Fendi s.r.l

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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

July 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

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

Yes No

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

Yes No

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


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



X