Retail giant Wal-Mart today (Thursday) reported record sales for the quarter ended 31 January 2005, but said it can do better.

Net sales were $82.2 billion, an increase of 10.4 percent over the fourth quarter of fiscal 2004. Income from continuing operations for the quarter was $3.2 billion, an increase of 16.2 percent from $2.7 billion in the fourth quarter of fiscal 2004.

Net sales for the year ended January 31, 2005, were $285.2 billion, an increase of 11.3 percent over the year ended January 31, 2004. Income from continuing operations for fiscal 2005 increased 15.9 percent to a record $10.3 billion, up from $8.9 billion in fiscal 2004.

"In the year just completed, we added almost $29 billion in sales and topped $10 billion in net income for the first time in our history. It was a solid performance, but we can do better," said Lee Scott, president and CEO.