MAC
08-13-2002, 02:23 PM
you make the best of what's still around (http://story.news.yahoo.com/news?tmpl=story2&cid=568&ncid=749&e=5&u=/nm/20020813/bs_nm/retail_walmart_earns_dc_2)
Business - Reuters
Wal-Mart's Profit Climbs 25 Percent
Tue Aug 13, 8:22 AM ET
BENTONVILLE, Ark. (Reuters) - Wal-Mart Stores Inc. , the world's largest retailer, on Tuesday said quarterly profit rose more than 25 percent as consumers flocked to the discounter in the slow U.S. economy.
Net income in the fiscal second quarter, ended July 31, rose to $2.04 billion, or 46 cents a diluted share, from $1.62 billion, or 36 cents a diluted share, a year earlier, the company said.
The Bentonville, Arkansas-based company beat analysts' mean earnings estimate by a penny in a quarter when cost-conscious shoppers showed a preference for discounters.
Wal-Mart, which operates more than 3,000 U.S. stores, reported sales of $59.69 billion for the quarter, up more than 13 percent from $52.80 billion a year earlier. Same-store sales -- sales at stores open at least a year -- rose 6.4 percent.
But the company, the first of the major discount chains to report second-quarter results, is not out of the woods yet. With the stock market drop this year, consumer confidence is showing signs of deteriorating. Less than a week ago Wal-Mart reported disappointing same-store sales for the month of July.
The company said sales of summer merchandise were slow in July and back-to-school spending has not yet ramped up, but it said it was likely to meet its earnings target for the full year.
Wal-Mart's second-quarter sales and earnings were records. "For the first time in our history, we generated over $2 billion in net income in a non-holiday quarter," Lee Scott, Wal-Mart president and chief executive, said in a statement.
Wal-Mart shares have performed about in line with other blue-chip stocks in recent months. In the second quarter Wal-Mart shares fell 13 percent, about the same as the drop in the Dow Jones industrial average.
Wal-Mart's quarterly earnings of 46 cents a share compared with an average forecast of 45 cents among analysts polled by Thomson First Call. Analysts' estimates ranged from 44 cents to 46 cents a share.
Last week Wal-Mart said it expected to meet or beat its previous second-quarter earnings guidance of 44 cents to 45 cents per share.
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well.....I gave them $75 last night myself,,,,,,,,course its been over amonth since I was there. We used to spend $200 every 2 weeks there....and we didn't shop anywhere else......
Business - Reuters
Wal-Mart's Profit Climbs 25 Percent
Tue Aug 13, 8:22 AM ET
BENTONVILLE, Ark. (Reuters) - Wal-Mart Stores Inc. , the world's largest retailer, on Tuesday said quarterly profit rose more than 25 percent as consumers flocked to the discounter in the slow U.S. economy.
Net income in the fiscal second quarter, ended July 31, rose to $2.04 billion, or 46 cents a diluted share, from $1.62 billion, or 36 cents a diluted share, a year earlier, the company said.
The Bentonville, Arkansas-based company beat analysts' mean earnings estimate by a penny in a quarter when cost-conscious shoppers showed a preference for discounters.
Wal-Mart, which operates more than 3,000 U.S. stores, reported sales of $59.69 billion for the quarter, up more than 13 percent from $52.80 billion a year earlier. Same-store sales -- sales at stores open at least a year -- rose 6.4 percent.
But the company, the first of the major discount chains to report second-quarter results, is not out of the woods yet. With the stock market drop this year, consumer confidence is showing signs of deteriorating. Less than a week ago Wal-Mart reported disappointing same-store sales for the month of July.
The company said sales of summer merchandise were slow in July and back-to-school spending has not yet ramped up, but it said it was likely to meet its earnings target for the full year.
Wal-Mart's second-quarter sales and earnings were records. "For the first time in our history, we generated over $2 billion in net income in a non-holiday quarter," Lee Scott, Wal-Mart president and chief executive, said in a statement.
Wal-Mart shares have performed about in line with other blue-chip stocks in recent months. In the second quarter Wal-Mart shares fell 13 percent, about the same as the drop in the Dow Jones industrial average.
Wal-Mart's quarterly earnings of 46 cents a share compared with an average forecast of 45 cents among analysts polled by Thomson First Call. Analysts' estimates ranged from 44 cents to 46 cents a share.
Last week Wal-Mart said it expected to meet or beat its previous second-quarter earnings guidance of 44 cents to 45 cents per share.
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well.....I gave them $75 last night myself,,,,,,,,course its been over amonth since I was there. We used to spend $200 every 2 weeks there....and we didn't shop anywhere else......