Record quarter at Wal-Mart

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16 August 2005 – Bentonville (AR): Wal-Mart Stores has reported record Q2 sales and earnings. Net sales were up 10.2 per cent to $76.8 billion from last year. Net income was $2.8 billion from $2.7 billion. EPS were $0.67 compared to $0.62 a year earlier.

 

President and CEO Lee Scott said: "Early in the quarter, our results were disappointing; however, July came in stronger than expected. Wal-Mart Stores did miss their plan as our customer continues to be impacted by higher gas prices and it is difficult to improve our expense leverage in the current environment."