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

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
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 Tureman 479-277-9558 Media Relations Contact John Simley 800-331-0085 Pre-recorded Conference Call 203-369-1090 Wal-Mart Reports Record Third Quarter Sales and Earnings BENTONVILLE, Ark., November 14, 2006 -- Wal-Mart Stores, Inc. (NYSE: WMT) today reported sales and earnings for the quarter ended October 31, 2006. Net sales for the third quarter were $83.543 billion, an increase of 12.0 percent over the third quarter of fiscal 2006. Income from continuing operations for the quarter was $2.594 billion, an increase of 7.1 percent from $2.422 billion in the third quarter of fiscal 2006. Earnings per share from continuing operations were $0.62, up from $0.58 per share in the same prior year quarter. “We are pleased that Wal-Mart again had record sales and earnings for the third quarter,” said Lee Scott, Wal-Mart Stores, Inc. president and CEO. “In addition, we are pleased that we’ve seen improvements in gross margin in all three segments of our business. “Although sales in the U.S. were softer than we hoped for in the third quarter, there are real opportunities in the fourth quarter to build on the momentum of the aggressive pricing strategy we have implemented in our stores for the holiday season,” Scott added. “This season, no one will doubt Wal-Mart’s leadership on price and value.” Earnings per share for the current quarter included a favorable after tax impact of $56 million, or approximately $0.01 per share, for property insurance-related gains reported as reductions in operating expenses. Net sales for the nine months ended October 31, 2006, were $246.902 billion, an increase of 12.0 percent over the first nine months of fiscal 2006. Income from continuing operations for the nine months ended October 31, 2006, increased 5.8 percent to $8.239 billion, up from $7.787 billion in the same prior year period. Diluted earnings per share from continuing operations for the nine months ended October 31, 2006, were $1.97, up from $1.86 in the same prior year period.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
2 During the third quarter, the Company completed the previously announced dispositions of its operations in South Korea and Germany. Beginning with the second quarter of fiscal 2007, these operations have been accounted for as discontinued operations. Among the third quarter highlights for the Company’s operations are: Consolidated inventories were up 6.2 percent against a year-to-date sales increase of 12.0 percent. Within Wal-Mart Stores, sales per labor hour improved for the third quarter. The U.S. Wal-Mart stores have now delivered labor productivity gains every quarter for the past two years. The launch and expansion of the $4 generic prescription program in pharmacies in U.S. locations in 27 states is successful and will expand to additional states in the near future.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 10

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

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online