Wal-Mart 3Q net sales up 7.5 percent

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Wal-Mart 3Q net sales up 7.5 percent

November 13, 2008

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Bentonville, Ark.--Net sales at Wal-Mart Stores Inc. increased 7.5 percent to $97.63 billion for the third quarter ended Oct. 31, compared with $90.83 billion for the same period last year, the company announced on Thursday.

According to the company, an improved operating performance and capital efficiency, as well as more than 2 million associates serving more than 175 million customers in 14 countries every week, contributed to stronger earnings and free cash flow for the period.

"We are very pleased with our results this quarter," Wal-Mart Stores President and Chief Executive Officer Lee Scott said in a media release. "Despite economic difficulties around the world, we achieved solid sales and earnings growth, and we are optimistic about the upcoming holidays."

For the nine months ended Oct. 31, total net sales for the company increased 9.4 percent to $293.25 billion, compared with $268 billion for the same period in 2007.

Walmart U.S. saw net sales increase 6.1 percent to $61.16 billion for the third quarter, compared with $57.65 for the same period last year, while year-to-date sales increased 7.1 percent to $184.28 billion, compared with $172.10 billion for the same period in 2007.

Same-store sales at Walmart U.S. (excluding fuel) increased 3 percent for the three months ended Oct. 31, and 3.5 percent for the nine months ended Oct. 31.

Meanwhile, international sales increased 11.2 percent $24.86 billion for the third quarter, compared with $22.35 billion for the same period last year, while year-to-date sales increased 16.5 percent to $73.95 billion, compared with $63.47 billion for the same period in 2007.

"Our sales results reflect the improved customer experience and sharper merchandising presentation at Walmart U.S., as well as higher traffic at Sam's Club among both Business and Advantage members," Scott said. "International remains Wal-Mart's fastest-growing business, proving that our mission of saving people money so they can live better resonates with customers everywhere we do business."

For the fourth quarter, the company estimates that U.S. same-store sales will increase between 1 percent and 3 percent.

Wal-Mart Stores operates Walmart discount stores, supercenters, Neighborhood Markets and Sam's Club locations in the United States. The company also operates in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico and the United Kingdom and, through a joint venture, in India.

For more information about the company, visit WalmartStores.com.

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