Some analysts thought that Walmart’s (WMT) earnings and outlook were a bit disappointing. They were actually excellent given the harsh retail environment in which the company operates. The fact that Walmart’s revenue went up at all was a triumph.
Net sales for the fourth quarter of fiscal year 2010 were $112.8 billion, an increase of 4.6 percent from $107.9 billion in the fourth quarter last year. The period ended January 31. EPS from continuing operations were $1.23. This compares to EPS of $0.96 in the fourth quarter last year.
Sales at Walmart stores in the US were down.5% to $71 billion for the quarter. International sales rose 20% to $29.6 billion. Sam’s Club sales were up 4% $12.3 billion. Net income at Sam’s Club dropped 30%. Walmart recently closed 10 Sam’s Club stores.
WMT expects diluted earnings per share from continuing operations attributable to Walmart for fiscal year 2011 to be between $3.90 and $4.00. For the first quarter of this fiscal year, the company forecasts earnings per share from continuing operations attributable to Walmart to range from $0.81 to $0.85.
Douglas A. McIntyre
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