Wal-Mart 2Q income advances 6%

by Meat&Poultry Staff
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BENTONVILLE, Ark. – Net income at Wal-Mart Stores, Inc. in the second quarter ended July 31, totaled $4,016 million, equal to $1.19 per share on the common stock, up 6 percent from $3,801 million, or $1.09 per share, during the same quarter of the previous year. Sales for the quarter were $113,534 million, up 5 percent from $108,638 million during the same quarter of the previous year.

“Walmart had a strong second quarter, and I’m pleased with the earnings and overall results,” said Mike Duke, president and chief executive officer. “We had positive comp sales in Walmart US and Sam’s Club as well as each of our international markets, reinforcing that customers rely on Walmart to help them save money and live better.”

For the six months ended July 31, income from continuing operations rose 7 percent to $7,758 million, or $2.28 per share, which compared with income of $7,228 million, or $2.07 per share, during the same period of the previous year. Sales for the period were $225,806 million, up 7 percent from $212,053 million.

“We take a variety of factors, including sales trends, the global economy and currency into account in providing our EPS guidance,” said Charles Holley, executive vicempresident and chief executive officer. “We expect third-quarter fiscal 2013 diluted earnings per share from continuing operations to range between $1.04 and $1.09. This compares to last year’s third quarter reported EPS of $0.97. We are raising and narrowing the company’s full-year EPS guidance to a range of $4.83 to $4.93. Our previous range was $4.72 to $4.92. Last year’s full-year EPS was $4.54.”

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