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Wal-Mart Stores Reports Q3 Sales Increased 12.8%

11/24/2003 02:00:00 AM Eastern

Wal-Mart Stores enjoyed a 12.8 percent sales gain at its stores segment in its fiscal third quarter, hitting $42.4 billion, up from $37.6 billion in the year-ago period. Same-store sales increased 5.7 percent.

Third quarter operating profit at the Wal-Mart Stores segment, including supercenters, reached $3 billion, an increase of 10.9 percent over the $2.7 billion recorded in the third quarter a year ago.

Wal-Mart's Sam's Club warehouse segment registered an 11.2 percent increase in third quarter sales, reaching $8.6 billion, compared with $7.7 billion in the same three months in 2002. Same-store sales rose 8 percent.

Sam's reported a $270 million operating profit in the third quarter, ended Oct. 31, a 12.5 percent increase over the $240 million posted year on year.

For the nine months, the Wal-Mart Stores segment recorded a 10.7 percent sales gain for the period, hitting $123.6 billion, up from $111.6 billion in the same period a year earlier. Comp-store sales increased 3.7 percent.

Operating profit over nine months for the stores segment reached $9 billion, a 9.4 percent increase over the $8.3 billion profit recorded year over year.

At Sam's, for the nine months, sales increased 8.7 percent, to $25 billion, up from $23 billion the previous year. Comp-store sales registered a 4.6 percent climb.

For the nine months, Sam's came in with an operating profit of $783 million, up 7.3 percent, compared with a $730 million profit the prior year.

Wal-Mart reported record consolidated earnings and sales in its fiscal third quarter, with sales reaching $62.3 billion, a 13.1 percent jump over the $55.2 billion reported in the year-ago three months. Comp-store sales rose 6.1 percent.

Net consolidated income from continuing operations climbed 13.9 percent in the third quarter, to $2 billion, compared with $1.8 billion year on year.

Consolidated Wal-Mart sales for the nine months reached $181.8 billion, an 11.4 percent increase over the $163.2 billion held down in the same period in 2002. Comp-sales rose 3.9 percent.

Net income from continuing operations for the nine months increased 14.4 percent, to a record $6.1 billion, up from $5.4 billion in the same period the prior year.

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