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WAL-MART STORES, INC. REPORTS RECORD SALES AND INCOME FOR FIRST QUARTER

 BENTONVILLE, Ark., May 12 /PRNewswire/ -- Wal-Mart Stores, Inc. (NYSE: WMT; PSE) today reported record sales of $13,920,407,000 for the three months ended April 30, an increase of 19 percent over sales of $11,649,430,000 for the same period a year earlier.
 Total sales through April 1992 include one additional day due to leap year as compared with year-to-date sales through April 1993. Excluding the sales for Feb. 29, 1992, Wal-Mart sales for the three months ended April 1993 increased 22 percent.
 Net income increased 16 percent to $450,650,000 for the three months from net income of $386,955,000 for the first quarter of last year. Net income per share increased to 20 cents in this year's quarter from 17 cents per share in the 1992 quarter.
 Net income for the quarter includes the effect of the adoption of Statement of Financial Accounting Standard (SFAS) No. 109, "Accounting for Income Taxes." The impact of adopting SFAS No. 109 for the quarter is insignificant (less than one cent per share).
 Commenting on the company's performance, President and Chief Executive Officer David Glass said: "Our associates are to be commended for the job they did in managing in spite of several unanticipated factors, such as inclement weather, to obtain results that we can all be pleased with under the circumstances. We believe that we are on track to achieve our sales and earnings objectives for the balance of the year."
 In the first quarter, the company opened 34 new Wal-Mart stores, expanded and relocated 20 stores (10 were Supercenters), opened 21 new Sam's Clubs, and expanded and relocated six clubs for a net addition of 8,508,059 square feet of retail floor space.
 At April 30, the company had 1,914 Wal-Mart stores (includes 40 Supercenters), and 277 Sam's Clubs, compared with 1,735 Wal-Mart stores (includes nine Supercenters), and 215 Sam's Clubs at the same time last year.
 Wal-Mart (WMT) operates stores in a 46-state trade area (having entered Washington in April), and its securities are listed on the New York and Pacific stock exchanges.
 WAL-MART STORES, INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF INCOME
 (Unaudited)
 (In thousands, except per share earnings)
 3 mos. ended 4/30/93 4/30/92
 Sales $13,920,407 $11,649,430
 Other income 144,791 104,911
 Total revenue 14,065,198 11,754,341
 Cost of sales 11,016,745 9,256,326
 Operating, selling and
 general and administrative
 expenses 2,246,260 1,807,942
 Interest costs:
 Debt 54,416 33,266
 Capital leases 46,342 42,593
 Total costs and expenses 13,363,763 11,140,127
 Income before income taxes 701,435 614,214
 Provision for income taxes 250,785 227,259
 Net income $ 450,650 $ 386,955
 Earnings per share and
 common equivalent share $ .20 $ .17
 Avg. number of common and
 common equivalent shares 2,299,814 2,298,248
 -0- 5/12/93
 /CONTACT: Paul R. Carter, 501-273-4184, or D. Randy Laney, 501-273-4148, both of Wal-Mart Stores/
 (WMT)


CO: Wal-Mart Stores, Inc. ST: Arkansas IN: REA SU: ERN

BN-RA -- AT002 -- 7363 05/12/93 08:09 EDT
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Publication:PR Newswire
Date:May 12, 1993
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