Home / Knowledge / News / Textiles / Walmart ends the year with strong free cash flow

Walmart ends the year with strong free cash flow

22
Feb '10
Wal-Mart Stores, Inc. reported financial results for the quarter and year ended Jan. 31, 2010. Net sales for the fourth quarter of fiscal year 2010 were $112.8 billion, an increase of 4.6 percent from $107.9 billion in the fourth quarter last year. Net sales for the fourth quarter included a currency exchange rate benefit of $1.9 billion. Income from continuing operations attributable to Walmart for the quarter was $4.7 billion, an increase of almost 24 percent from $3.8 billion in the fourth quarter last year.

• Walmart reports fourth quarter earnings per share of $1.23 and adjusted earnings per share(1) of $1.17, five cents above the company's latest guidance and five cents above the First Call consensus estimate.
• The company's full year EPS was $3.72 and adjusted EPS was $3.66.
• Net sales for the full year topped $405 billion, with International net sales exceeding $100 billion for the first time. Walmart U.S. comparable store sales for the fourth quarter were below guidance.
• Consolidated operating income for the fourth quarter was $7.3 billion, up 13.8 percent from last year.
• The company leveraged operating expenses for the fourth quarter and expects to leverage expenses for fiscal year 2011.
• Walmart ended the year with strong free cash flow(1) of $14.1 billion, an increase over last year of almost 21 percent.
• The company has returned $11.5 billion to shareholders through dividends and share repurchase this fiscal year, a level of return that is 58 percent higher than last year.
• Walmart posted a pre-tax return on investment(1) (ROI) of 19.3 percent for fiscal year 2010, equal to last fiscal year's ROI.

Diluted earnings per share from continuing operations attributable to Walmart ("EPS") for the fourth quarter of fiscal year 2010 were $1.23. This compares to EPS of $0.96 in the fourth quarter last year. Adjusted earnings from continuing operations attributable to Walmart for the fourth quarter of fiscal year 2010 were $4.5 billion, or $1.17 per share, after adjusting for the following items:

• $372 million, or $0.10 per share, in net tax benefits primarily from the repatriation of certain non-U.S. earnings that increased U.S. foreign tax credits; and
• $260 million charge ($162 million net of tax), or $0.04 per share, from several business restructurings.

By comparison, adjusted earnings from continuing operations attributable to Walmart for the fourth quarter of fiscal 2009 were $4.0 billion, or $1.03 per share, after adjusting for the $382 million charge ($255 million net of tax), or $0.07 per share, due to the settlement of 63 wage-and-hour class action lawsuits.

Net sales for the fiscal year were $405.0 billion, an increase of 1.0 percent over fiscal year 2009. On a constant currency basis, net sales for the fiscal year would have been $9.8 billion higher, increasing 3.4 percent to approximately $414.8 billion. Income from continuing operations attributable to Walmart increased to $14.4 billion from $13.3 billion in fiscal year 2009, an increase of 8.8 percent.

For fiscal year 2010, adjusted earnings from continuing operations attributable to Walmart were $14.2 billion, or $3.66 per share, versus $13.5 billion or $3.42 per share in the prior year, an increase of 7.0 percent per share.

Adjusted EPS for both the fourth quarter and the full year were also above the company's most recent guidance of $1.08 to $1.12 and $3.57 to $3.61 respectively, as well as above First Call consensus.

Click here for more details.

Wal-Mart Stores Inc


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 15th May 2021

Australian govt earmarks Au$1 mn for boosting fashion industry

The government of Australia has earmarked Au$1 million to promote and ...

Pic: Sorbis / Shutterstock.com

Apparel/Garments | On 15th May 2021

Prime Content| US textiles & apparel imports grow 4.32% in Q1 2021

The import of textiles and apparel by the United States increased by...

Pic: Amanda Wakeley

Fashion | On 15th May 2021

British luxury fashion company Amanda Wakeley enters administration

The British luxury fashion designer Amanda Wakeley’s company, AW...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Fashion tech has to be lean and very productive

India-EU Summit, Representatives

India-EU Summit
Representatives

India-EU FTA will provide EU with better access to a huge & rapidly...

Textile Industry, Head honchos

Textile Industry
Head honchos

Main challenges are breakdown of supply chain and shrinkage of manpower

Meghavi Suthar,

Meghavi Suthar

Founded by NIFT graduate <b>Meghavi Suthar </b>in 2017, Kala is an...

Mumin Can Eker,

Mumin Can Eker

Maseksport Inc is a readymade garment exporter. Founded in Izmir in 1989,...

Nick Isles,

Nick Isles

The Condé Nast College of Fashion &amp; Design or CNC as it is known as,...

Daniel Roxbury, University of Rhode Island

Daniel Roxbury
University of Rhode Island

Assistant professor Daniel Roxbury and former URI graduate student...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Thomas Ong P S, NanoTextile

Thomas Ong P S
NanoTextile

Malaysian company NanoTextile Sdn Bhd taps into the potentials of...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha &amp; Jigar blends India's unique handcrafts...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

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

Leave your Comments


May 2021

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


Advanced Search