Rising sales at UK retailer Asda has boosted annual revenue and profits at Wal-Mart.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The world’s largest retailer posted a 5.8% rise in underlying operating income to US$12.9bn for the 12 months to 31 January. Revenue rose from $345bn to $374.5bn.
The results came after a healthy fourth quarter for the US-based retailer, which saw underlying income rise 4% and revenue climb 8.3%.
“We had a very strong underlying operating performance, exceeding our expectations for the quarter,” said Wal-Mart president and CEO Lee Scott.
“For the fourth quarter, we topped $100 billion in sales, the first time in history that any retailer has reached this milestone in a single quarter.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataWal-Mart said its Asda business had beaten its sales and earnings targets, with like-for-like sales excluding fuel rising in the “mid single digits”.
Wal-Mart vice chairman Mike Duke said: “During the year, Asda was a winner in the UK, being the fastest growing of the big four retailers.”
In the US, comparable sales at Wal-Mart Stores – excluding fuel – inched up 1%. Sales at the company’s Sam’s Club stores rose 4.2%.
