Sales up 10.7% for Wal-Mart in 4Q

In its fiscal fourth quarter, Wal-Mart Stores Inc. had a 10.7 percent increase in sales, a 15.5 percent increase in net income and a 2.7 percent increase in same-store sales.

At 57 cents per share, the world’s largest retailer beat analysts earnings estimates by a penny (based on a survey of 19 analysts) but lagged behind a mean revenue estimate of $71.51 billion among seven analysts.

Wal-Mart said total sales for the quarter ended Jan. 31 were $71.073 billion, an increase of 10.7 percent over $64.211 billion in the quarter ended Jan. 31, 2002. Net income for the most recent quarter was $2.529 billion, up 15.5 percent from $2.189 billion for the similar prior year quarter. Earnings per share were 57 cents, up 16.3 percent from the 49 cents per share in the same prior year quarter. Adjusted for the change in accounting for goodwill, Wal-Mart said basic earnings per share would have been up 14 percent.

Net sales for the fiscal year ended Jan. 31, were $244.524 billion, an increase of 12.3 percent over $217.799 billion in the previous fiscal year. Net income for the year was $8.039 billion, up from $6.671 billion in the previous fiscal year. Earnings per share were $1.81, up 21.5 percent from the $1.49 per share reported in the same prior year. Adjusted for the change in accounting for goodwill, basic earnings per share would have been up 16.8 percent.