Walmart Boosts Net 5.7 Percent in Second Quarter
August 16, 2011,
BENTONVILLE, Ark.-With sales rising, especially in its international and Sam's Club operations, Walmart reported net income of $3.8 billion in its second quarter, 5.7 percent ahead of the second quarter of last year.
Net sales as a whole for the quarter, which ended on July 31, increased 5.5 percent to $108.6 billion. The major drivers for the top line were Walmart International, with a gain of 16.2 percent in sales, and Sam's Club, which posted a 9.5 percent sales pickup including a same-club gain of 5 percent. Walmart's U.S. sales increased 0.4 percent, including a drop of 0.9 percent in same-store sales.
Among the positives highlighted by Mike Duke, Walmart's president and CEO, were the growth in the international sector and at Sam's Club. Duke said the company has made progress in integrating the acquisitions of the Netto stores in the United Kingdom and Massmart in South Africa.
In the United States, Walmart experienced momentum in sales of grocery, health and wellness, hardlines and apparel, said Bill Simon, Walmart U.S. president and CEO. "We remain concerned about the economic pressure on our customers and the uncertain impact it can have on their shopping behavior," Simon said.
Other Articles By Author
HFN Launches Interactive Idea Book
HFN's DIGITAL EDITION
COVER STORY: HFN Turns 90
We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.
ALSO IN THIS ISSUE:
- Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
- Omnichannel Retailing - In the Mobile App World, Time is Money