Wal-Mart profit up 5.7%
Home Textiles Today Staff -- Home Textiles Today, 8/16/2012 12:58:20 PM
Bentonville, Ark. - The home department at Walmart U.S. stores generated a low single-digit comp gain during the second quarter, with basic leading the way.
Back-to-College shopping is helping growth in the department early in the third quarter, Walmart U.S. president and ceo Bill Simon said during this morning's quarterly commentary.
"Our stores were ready to serve shoppers early in the season, and we're pleased with the results. Season to date, key back-to-school apparel categories are up 7.0%. Within home, we're seeing strong performance in college essentials like bedding and bath," said Simon.
Operating income at Walmart U.S. climbed 5.3% to $5.25 billion during the quarter ended July 31. Total sales rose 3.8% to $ 67.3 billion, with comps up 2.2%.
At Sam's Club, operating income jumped 10.1% to $536 million. Sales - excluding the impact of fuel - increased 3.8% to $14.16 billion. Comps, again excluding fuel, rose 4.2%.
Wal-Mart Stores Inc. reported consolidated income from continuing operations of $4.0 billion, up 5.7%, and earnings per share of $1.18. Total sales were up 4.5% to $113.5 billion.
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