New York - National chains posting quarterly results in the past couple of days are reporting slightly higher sales and earnings compared with last year.

Wal-Mart Stores reported sales in its fiscal second quarter, ended July 31, of $103 billion, an increase of 2.8 percent from $100 billion in the second quarter last year.

Income from continuing operations for the quarter increased to $3.6 billion, from $3.5 billion in the second quarter last year.

While on a constant currency basis, consolidated net sales increased 2 percent.

But by segment, Walmart U.S. net sales were flat during the quarter compared with the previous year, at $64.65 billion. Walmart U.S. operating income was down 0.2 percent to $4.88 billion. Comp-store sales without fuel in the U.S. were down 1.8 percent.

Sam's Club operating income for the quarter was $428 million, up 2.4 percent. Comp-store sales, excluding fuel sales, were up 1 percent for the quarter.

Target reported net earnings of $679 million for the quarter, compared with $594 million in the prior year's quarter.

Net earnings were $679 million, up 14.3 percent from the prior year's $594 million.

Retail segment sales increased 3.8 percent in the second quarter to $15.1 billion -- from $14.6 billion year on year in 2009 -- due to the contribution from new stores combined with a 1.7 percent increase in comp-store sales, Target reported

Retail segment earnings before interest expense and income taxes were $1.1 billion in the second quarter of 2010, an increase of 3.1 percent from $1.06 billion in 2009.

Lowe's reported net earnings of $832 million for the quarter, a 9.6 percent increase from the same period a year ago. Sales for the quarter increased 3.7 percent to $14.4 billion, up from $13.8 billion in the second quarter of last year.

Home-improvement rival The Home Depot reported second-quarter net earnings of $1.2 billion, compared with the prior year's $1.1 billion. Sales for the second quarter totaled $19.4 billion, a 1.8 percent increase from last year's second quarter.

Comp-store sales for the second quarter were up 1.7 percent, and comp sales for U.S. stores were a positive 1 percent.

BJ's Wholesale Club reported net income for its fiscal second quarter of $35.8 million, up slightly from the prior year's $35.1 million.

Total sales for its second quarter, ended July 31, increased by 8.6 percent to $2.7 billion, and comp-club sales increased by 4.4 percent, including a contribution from sales of gasoline of 1.5 percent. Excluding the impact of gasoline, merchandise comp-club sales increased by 2.9 percent.

In the prior year, comp-club sales decreased 7.7 percent, including a negative impact from sales of gasoline of 10.6 percent. Excluding the impact of fuel sales, merchandise comp-club sales for the second quarter of 2009 increased 2.9 percent.

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2010-08-18 17:11:54
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Abstract Web: 
New York - National chains posting quarterly results in the past couple of days are reporting slightly higher sales and earnings compared with last year.
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