US retail giant Wal-Mart has posted a rise in quarterly earnings, as an improved performance by its Sam’s Club warehouse unit and rapid international expansion helped to offset weaker sales at its US discount unit.
Go deeper with GlobalData
Bentonville, Arkansas-based Wal-Mart reported net income of US$2.44bn, or 56 cents per share, for the second quarter to 31 July, compared to $2.02bn, or 45 cents per share, a year earlier.
Excluding income from its recently sold McLane grocery distribution unit, Wal-Mart’s earnings were 52 cents per share, which was in line with analysts’ average estimate, reported Reuters.
Sam’s Club posted a 12.8% rise in operating profit for the quarter, despite lowering prices on hundreds of items as part of a price war with Costco Wholesale. Costco recently warned that its quarterly profits would be lower than expected, partly because of fierce pricing competition from Sam’s Club. Sam’s Club sales rose 7.7% to $8.55bn.
Wal-Mart’s total quarterly sales rose 11.3% to $62.6bn, while same-store sales rose 3.2%.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe retailer’s international division recorded the strongest growth in sales with a rise of 18.8%.
