Walmart Net Gains 3.4 Percent in Fourth Quarter
BENTONVILLE, Ark.-Net income for Walmart picked up 3.4 percent in its fiscal fourth quarter ending on Jan. 31, totaling $5.2 billion.
The world's largest retailer achieved this primarily by boosting net sales by 5.8 percent to $122.3 billion. This gain in checkouts included same-store sales increases of 1.5 percent for Walmart U.S. and 5.4 percent for Sam's Club (without fuel). It marked the second consecutive quarter of positive comparable-store sales results for Walmart U.S.
Bill Simon, Walmart U.S. president and CEO, said the division benefited from positive comps from all three geographic units--Walmart East, Walmart Central and Walmart West. "Our stores have greater price leadership, broader assortment and improved on-shelf availability," Simon said.
While operating, selling, general and administrative expenses rose 4.2 percent in dollars in the quarter, they declined 27 basis points as a percentage of sales to 18.1 percent. Gross margin decreased 40 basis points to 24.3 percent.
For the fiscal year as a whole, net income edged up 2.7 percent to $15.8 billion. Net sales increased 5.9 percent to $443.9 billion.
This year will bring Walmart's 50th anniversary in business. Mike Duke, president and CEO, said the company still has "tremendous opportunities" for the company ahead. "Today, every segment of our business is stronger than it was a year ago, and we're in a great position for fiscal year 2013," Duke said.