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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

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