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Wal-Mart reports record Q4 sales and earnings
20
Feb '08
Wal-Mart Stores Inc reported its sales and earnings for the quarter ended Jan. 31, 2008. Net sales for the fourth quarter of fiscal year 2008 were $106.269 billion, an increase of 8.3 percent over the fourth quarter of fiscal year 2007. Income from continuing operations for the quarter was $4.096 billion, an increase of 4.0 percent from $3.940 billion in the fourth quarter of fiscal year 2007.

Diluted earnings per share from continuing operations for the fourth quarter of fiscal year 2008 were $1.02, up 7.4 percent from $0.95 per share in the same prior year quarter, including a net charge of approximately $0.02 per share for certain items this year.

These items included charges of $0.03 for approximately $70 million in after-tax expenses for dropped U.S. real estate projects and an after-tax restructuring charge of $32 million in the Company's Japan operations, and a $0.01 benefit from the recognition of approximately $38 million in after-tax gains from the sale of certain real estate properties.

Net sales for the fiscal year ended Jan. 31, 2008 were $374.526 billion, an increase of 8.6 percent over fiscal year 2007. Income from continuing operations for the fiscal year ended Jan. 31, 2008 increased 5.8 percent to $12.884 billion, up from $12.178 billion in the prior year. Diluted earnings per share from continuing operations for the fiscal year ended Jan. 31, 2008 were $3.16, up 8.2 percent from $2.92 in the prior year.

"For the fourth quarter, we topped $100 billion in sales, the first time in history that any retailer has reached this milestone in a single quarter," said Lee Scott, Wal-Mart Stores Inc president and chief executive officer.


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