By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Wal-Mart Stores reported record sales and earnings for the first quarter, ended April 30.
Net sales were $79.6 billion, an increase of 12.3 percent over the first quarter of fiscal 2006. And net income for the quarter was $2.6 billion, an increase of 6.3 percent from $2.4 billion in the fiscal first quarter of last year.
Net sales during its fiscal first quarter for the three Wal-Mart divisions are as follows (with last year's first quarter in parenthesis): Wal-Mart Stores, $52.5 billion ($47.6 billion), a 10.2 percent gain; Sam's Club, $9.8 billion ($9.2 billion), a 6.8 percent gain; and International, $17.3 billion ($14.1 billion), a 22 percent gain.
Total U.S. comparable store sales for the fiscal first quarter increased 3.8 percent, which is represented by a 3.8 percent increase for Wal-Mart Stores and a 4.3 percent increase for Sam's Club.
During the quarter, the Wal-Mart Stores segment had segment operating income (income before net interest expense, income taxes, unallocated corporate overhead and minority interest) of $3.9 billion, an increase of 20.4 percent, compared with $3.3 billion in the previous year's first quarter.
Sam's Club had operating income for the quarter of $319 million, an increase of 8.1 percent, compared with $295 million in the first quarter of last year.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.