‘Momentum’ Carries Wal-Mart Q2 Revenue And Profits Higher
by August 16, 2012 6:58 am 87 views
Wal-Mart officials are “pleased with the continued momentum” as the retail giant saw revenue and profits climbed higher in the second quarter.
The Bentonville-based retailer posted second quarter net income of $4.016 billion on total revenues of $114.296 billion. One year ago, Wal-Mart recorded net income of $3.801 billion on revenue of $109.366 billion.
“Walmart had a strong second quarter, and I’m pleased with the earnings and overall results,” said Mike Duke, Wal-Mart Stores, Inc. president and chief executive officer. “We had positive comp sales in Walmart U.S. and Sam’s Club, as well as each of our International markets, reinfor
cing that customers rely on Walmart to help them save money and live better.”
Highlights of the quarter included:
- Walmart U.S. comparable store sales rose 2.2 percent in the 13-week period ended July 27, with positive ticket and traffic. Walmart U.S. delivered its fourth consecutive quarter of positive comparable sales.
- Sam’s Club comparable sales, without fuel, increased 4.2 percent for the same 13-week period.
- Walmart International grew net sales 6.4 percent.
The company's stock closed trading Tuesday at $74.45 per share. It has traded between $49.94 and $75.24 per share during the past year.