Walmart 4Q beats estimates

HTT Staff -- Home Textiles Today, 2/21/2013 3:10:43 PM

Bentonville, Ark. - Wal-Mart Stores Inc. out-performed its fourth quarter guidance, with income from contribution operations up 7.9% to $5.6 billion, or $1.67 per share.

Some of the highlights from management's remarks on the business:

• At Walmart's U.S. stores, home continued to post positive comps in the low single-digit range during the fourth quarter, with home décor leading the business.
• At Sam's Club, domestics comps were up by double-digits.
• Walmart U.S. just marked the first full year of positive comp sales in apparel in 7 years.
• Walmart is accelerating the small format rollout. In the recent fiscal year, it opened 76 small formats, including Neighborhood Markets and Express Stores. It plans to add approximately 100 small stores this year.

For the fourth quarter ended Jan. 31, consolidated sales rose 3.9% to $127.1 billion. Sales at Walmart U.S. stores increased 2.6% to $74.7 billion, while sales a Sam's Club were up 3.4% to $14.5 billion.

For the full fiscal year, income from continuing operations was up 7.9% to $16.999 billion, or $5.04 per share.

Consolidated fiscal year sales climbed 5.0% to $446.1 billion. Sales were up 3.9% to $274.5 billion at Walmart U.S. and up 4.9% to $56.4 billion at Sam's Club.