news_051507 - WAL-MART STORES, INC. 800-331-0085...

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WAL - MART STORES, INC. 800-331-0085 www.walmartstores.com/news/ FOR IMMEDIATE RELEASE Investor Relations Contacts Investor Relations 479-273-8446 Carol Schumacher 479-277-1498 Pauline Mohler 479-277-9558 Media Relations Contact John Simley 800-331-0085 Pre-recorded Conference Call 203-369-1090 Wal-Mart Reports Record First Quarter Sales and Earnings BENTONVILLE, Ark., May 15, 2007 -- Wal-Mart Stores, Inc. (NYSE: WMT) today reported record sales and earnings for the quarter ended Apr. 30, 2007. Net sales for the first quarter of fiscal year 2008 were $85.387 billion, an increase of 8.3 percent over the first quarter of fiscal year 2007. Income from continuing operations for the quarter was $2.826 billion, an increase of 6.2 percent from $2.660 billion in the first quarter of fiscal year 2007. Earnings per share from continuing operations were $0.68, up from $0.64 per share in the same prior year quarter. Net Sales Net sales were as follows (dollars in billions): 2007 2006 Percent Change Net Sales: Wal-Mart Stores 55.437 $ 52.499 $ 5.6% Sam's Club 10.323 9.775 5.6% International 19.627 16.561 18.5% Total Company 85.387 $ 78.835 $ 8.3% Three Months Ended Apr. 30 “While these are record sales and earnings, we feel there was an opportunity to have done better,” said Lee Scott, Wal-Mart Stores, Inc. president and chief executive officer. “Delivering on our mission saving people money so they can live better is more important than ever around the world. The worldwide organization is focused on improving sales and returns.”
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2 Operating Income Operating income, which is defined as income before net interest expense, income taxes, unallocated corporate overhead, minority interest and discontinued operations, was as follows (dollars in billions): 2007 2006 Percent Change Operating Income: Wal-Mart Stores 3.927 $ 3.858 $ 1.8% Sam's Club 0.363 0.303 19.8% International 0.903 0.757 19.3% Three Months Ended Apr. 30 The Wal-Mart Stores and Sam’s Club segments’ operating income includes the favorable impact of an excise tax refund on prior merchandise phone card sales of $46 million and $39 million, and a charge for certain litigation of $73 million and $10 million, respectively. Beginning with the first quarter of fiscal 2008, the above measurement of segment operating income has been changed to be consistent with certain changes to internal management reporting. The result of the new measurement criteria is to charge certain direct segment costs to the appropriate segments that were previously retained and managed as corporate overhead costs. As a result, all prior year measurements of segment profits have been restated for comparative purposes. Comparable Store Sales
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This note was uploaded on 03/28/2011 for the course ACCOUNTING 501 taught by Professor Patriciam.casey during the Spring '08 term at National.

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news_051507 - WAL-MART STORES, INC. 800-331-0085...

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