Bentonville, Ark. — Wal-Mart Stores today reported first-quarter net earnings of $3 billion on sales of $94.1 billion.
Earnings were up 6.9 percent for the quarter, ended April 30, while sales increases 10.2 percent for the period compared with the same time last year.
“Our business is even more relevant to our customers today, given the current economic pressures,” said Lee Scott, Wal-Mart president and CEO.
Wal-Mart Stores accounted for the lion’s share of the sales generating $59 billion, up 6.6 percent compared with 2007. Sam’s Club added $11.1 billion, up 7.6 percent, and the company’s international sales were $23.9 billion for the quarter.
Comp-store sales for Wal-Mart Stores were up 2.7 percent compared with the 0.1 percent drop experienced last year. The chain’s fuel sales did not impact comp-store sales figures for the quarter. Sam’s Club comp-store sales were up 3.6 percent without fuel sales and up 6.5 percent with fuel sales added. Overall, Sam’s comp-store sales were up 2.9 percent for the period.