BENTONVILLE, Ark.–Wal-Mart Stores reported gains for the period ended July 31, marking only the second time in the company’s history that it has hit the $100 billion mark in a quarter, Lee Scott, chief executive officer, said during a conference call.
A remerchandised home area has improved the performance of furniture, housewares and bedding, Eduardo Castro Wright, president and CEO of Wal-Mart Stores, said during the call.
Net sales for the second quarter of fiscal year 2009 rose 10.4 percent, to $101.6 billion. U.S. comparable-store sales rose 4.5 percent, fueled in part by the tax stimulus checks, executives said.
Net income rose to $3.4 billion from $2.9 billion a year ago.
Wal-Mart’s “price leadership position continues to ensure customer loyalty,” Castro Wright said. Traffic and ticket sales rose in the quarter, he added.
Canada, the U.K. and Mexico were the strongest international divisions.
The retailer is doing what it can to mitigate price increases from vendors, in part by leveraging global sourcing, Scott said.