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Wal-Mart reports stagnant quarterly profit and sales
Published in Saudi Press Agency on 14 - 05 - 2009


Wal-Mart Stores Inc, the world's biggest
retailer, today reported flat first-quarter 2009 profit of 3
billion dollars, with more cost-conscious consumers continuing to
turn to the discounter, but the stronger dollar cutting into overseas
returns, dpa reported.
Profit amounted to 77 cents per share, up from 76 cents per share
in the year-earlier period.
The US discount group's sales revenue declined 0.6 per cent to
94.2 billion dollars. Excluding exchange rate changes, total sales
rose 4.5 per cent to 98.3 billion dollars, the Bentonville, Arkansas-
based company said.
Revenue within the United States rose 4 per cent to 61.2 billion
dollars, with same-store sales up nearly 4 per cent excluding sales
of petrol.
International sales fell 11 per cent to 21.3 billion dollars.
Revenue from Wal-Mart's international business felt the negative
effects of the dollar strengthened against other major currencies,
but excluding the effects of currency exchange rose 9 per cent.
"We're pleased to report that fiscal year 2010 is off to a very
good start," Mike Duke, the head of the Bentonville, Arkansas-based
group said, predicting profits would exceed expectations in the
ongoing second quarter.
Wal-Mart said it expects same-store sales to gain up to 3 per cent
in the current quarter.


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