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.
