Wal-Mart Stores Inc, the retail giant which has come under fire in the US recently for pushing down wages and for the pressure it puts on local businesses, reported record 3rd-quarter sales & earnings today.
For the 3 months to 31 October, net sales rose 9.7% to $US68.5 billion, income from continuing operations rose 12.7% to $2.3 billion and diluted earnings/share from continuing operations rose 17.4% to US54c/share.
Wal-Mart’s international sales rose 18% to $US13.6 billion, sales at its American stores rose 8.3% to $US45.9 billion & sales through the Sam’s Club chain rose 5.5% to $US9.1 billion.
Same-store US sales rose 1.7% – 1.3% for Wal-Mart, 4% for Sam’s Store.
The group has more than 5000 shops in the US & internationally, plus a minority interest in 400 Japanese stores through the Seiyu chain, which it has an option to take over by the end of 2007.