Walmart Net Rises 3.6 Percent in Second Quarter

BENTONVILLE, Ark.-Net income for Walmart finished the second quarter at $3.6 billion, up 3.6 percent from the second quarter of 2009.

The world's largest retailer posted a net sales gain of 2.8 percent to $103 billion in the quarter, which included an 11 percent jump in international sales. Driving global sales were strong growth in Mexico, and increases in new stores in Brazil and China. The international operation represented 60 percent of the five million total square feet Walmart added in retail space in the second quarter.

Walmart also kept selling, general and administrative expenses in check, with a 0.6 percent increase in this item. Gross margin declined by 33 basis points to 25.3 percent.

Same-store sales for Walmart's U.S. locations fell 1.8 percent in the quarter, while for Sam's Club they increased 1 percent without factoring in gasoline sales, and 2.6 percent when including gas sales.

In a company statement, Mike Duke, president and chief executive officer, said Walmart improved its bottom line in spite of "the ongoing challenges of the global economy. The slow economic recovery will continue to affect our customers, and we expect they will remain cautious about spending."

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.


Current Issue

  • HFN May digital issue


    May 2017

    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.


    • 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