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Wal-Mart Reports $13.2B Profit In '02

2/24/2003 02:00:00 AM Eastern

Wal-Mart Stores reported its Wal-Mart and Sam's Club chains posted operating profits for the fourth quarter and year of $3.9 billion and $13.2 billion, respectively.

These operating profits were made on sales of $54 billion for the quarter, ended Jan. 31, and $188.8 billion for 2002. Wal-Mart defines operating profit as the total prior to the inclusion of interest, unallocated corporate expenses and income taxes.

The Wal-Mart segment was responsible for the bulk of the operating profits and sales posting double-digit growth in both periods. For the quarter, ended Jan. 31, its operating profit increased 15.8 percent to $3.6 billion on sales of $45.5 billion, which were up 11.2 percent. For the year operating profit jumped 16.2 percent to $11.9 billion on sales of $157 billion. Sales for 2001 were $139 billion.

Sam's Club suffered a small decline in operating profit for the quarter. Its operating profit was $295 million compared to the $297 million made during the same period in 2001. For the year, profit remained flat at just over $1 billion.

When Wal-Mart Stores' International and McLane business units are added to the bottom line, the company had a net profit of $2.5 billion on sales of $71 billion, a 10.7 percent increase for the fourth quarter.