Wal-Mart gains traction
Retail Editor 2 -- Home Textiles Today, May 17, 2012
Bentonville, Ark. - Wal-Mart Stores Inc. posted its biggest first quarter sales gain in three years, with revenues up 8.6% to $112.3 billion.
In U.S. Walmart stores, the home department's comp was up in the low single digits, executives said during this morning's pre-recorded commentary on the quarter. Best performers in the category included cooking and dining as well as bath and bedding, according to Bill Simon, president and ceo of U.S. Walmart stores.
Mike Duke, president and ceo of Wal-Mart Stores Inc., said progress has been made in home, apparel and hardlines thanks to expanded assortments and improved customer traffic.
Consolidated net income for the quarter ended April 30 climbed 9.2% to $3.7 billion, or $1.09 per share.
Excluding fuel, sales at Walmart U.S. stores rose 5.9% to $66.3 billion, and sales at Sam's Club increased 7.9% to $13.85 billion. Comps, excluding fuel, were up 2.6% at U.S. Walmart stores and 5.3% at Sam's Club.
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