Bentonville, Ark. – Wal-Mart
Stores reported higher net sales and net income in its fiscal first quarter
ended April 30.
Net sales for the first
quarter were $112.3 billion, an increase of 8.6 percent from $103.4 billion in
the first quarter last year.
Consolidated net income for
the quarter was $3.7 billion, up 9.2 percent from the first quarter last year.
By
segment net sales for Walmart U.S., including fuel, was $66.3 billion up 5.9
percent and Sam’s Club was $13.9 billion up 7.9 percent compared with the prior
year’s first quarter.
Walmart
U.S. operating income was up 8.1 percent to $5.03 billion and Sam’s Club was
$490 million up 7.7 percent compared with the prior year.
Comp
sales without fuel at Walmart U.S were up 2.6 percent in the quarter compared
with a slide of 1.1 percent in the prior year. For Sam’s Club it was up 5.3
percent compared with a gain of 4.2 percent in last year’s first quarter.
Mike Duke, Wal-Mart Stores,
president and CEO, commented, “In a highly competitive retail environment,
Walmart U.S. is increasing price separation across categories and driving
increased traffic to both the grocery and general merchandise areas of our
stores. That strategy was reflected in the 2.6 percent comp,” said Duke.
“Customers count on us for one-stop shopping and our merchandising priorities
are aligned with that in mind. Walmart U.S. also grew operating income faster
than sales this quarter.
“Sam’s Club is off to a great
start this year, with continued strength in traffic and ticket,” Duke
continued. “Membership engagement scores are at record highs, membership income
is growing, and renewals and upgrades are strong.”
