Wal-Mart Stores Inc. reported net sales for the second quarter of fiscal year 2009 of approximately $101.6 billion, an increase of 10.4 percent when compared to the second quarter of the prior year.
Income from continuing operations for the second quarter, ended July 31, was $3.385 billion, an increase of 9.3 percent, year-over-year.
Wal-Mart same-store sales, among stores that don’t sell fuel, rose 4.5 percent for the period. By segment, Walmart U.S. stores reported a 4.6 percent gain, while Sam’s Club stores that don’t sell fuel were up 3.7 percent. Among Sam’s Club stores that do sell fuel, the increase in same-store sales was 7.2 percent.
“The combination of solid operating performance and improved capital efficiency gave us record earnings this quarter and nearly $5 billion in free cash flow in the first half of the fiscal year,” said Lee Scott, Wal-Mart Stores, Inc. president and chief executive officer. “Our underlying business remains sound as our associates deliver on Wal-Mart’s mission to save people money so they can live better.”
By segment, Walmart U.S. stores reported an increased in net sales of 8.5 percent to just over $64 billion for the second quarter. International operations reported a 16.9 percent increase to 25.26 billion. Sam’s Club stores reported an increase of 8 percent to 12.28 billion.
By segment, income from continuing operations for Walmart U.S. stores increased by 10.8 percent to $4.7 billion for the second quarter, international operations grew by 16.5 percent to $1.2 billion, while Sam’s Club stores fell by 2.9 percent to 432 million.
“For the third quarter of fiscal year 2009, we estimate the company’s comparable store sales increase in the United States to be between one and two percent, which continues to reflect some sales volatility from week to week,” Tom Schoewe, Wal-Mart Stores, Inc. executive vice president and chief financial officer, said in the company’s outlook.Follow JCK on Instagram: @jckmagazine
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