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WAL-MART STORES, INC. REPORTS RECORD SALES AND INCOME FOR THIRD QUARTER AND NINE MONTHS OF OCT. 31

        WAL-MART STORES, INC. REPORTS RECORD SALES AND INCOME
            FOR THIRD QUARTER AND NINE MONTHS OF OCT. 31
    BENTONVILLE, Ark., Nov. 7 /PRNewswire/ -- Wal-Mart Stores, Inc. (NYSE: WMT; PSE) today reported sales of $10,627,500,000 for the third quarter and $30,248,042,000 for the nine months ended Oct. 31, a 34 percent gain over the third quarter and 36 percent over the nine-month period a year earlier.
    Net income for the quarter increased 25 percent to $353,200,000 as compared with $282,807,000 for the same quarter in 1990.  Fully diluted net income per share increased to 31 cents from 25 cents in the 1990 quarter.  Net income for the nine months increased 24 percent to $1,006,046,000, or 87 cents per share, as compared with $809,181,000, or 71 cents per share, for the corresponding nine months of last year.
    David Glass, president and chief executive officer, commented: "Our associates' dedication to customer service and high in-stock position have enabled us to achieve both record sales and earnings for the nine-month period.  We expect the approaching holiday selling period to be competitive, but we believe our associates' execution will enable us to meet our objectives for the balance of the year."
    In the third quarter, the company opened 26 new Wal-Mart stores (and closed one store) and 10 Sam's Clubs for a net addition of 4,558,885 square feet of retail floor space.  Eighty new Wal-Mart stores and 46 Sam's Clubs (includes the 28 clubs acquired from The Wholesale Club) have added 15,233,441 square feet this year.
    At Oct. 31, the company had 1,652 Wal-Mart stores (includes six Supercenter stores), 194 Sam's Clubs and four Hypermart*USA units, compared with 1,503 Wal-Mart stores (includes five Supercenter stores), 141 Sam's Clubs and four Hypermart*USA units a year ago.
    Wal-Mart operates in a 39-state (having added Maine in August and Connecticut in October) trade territory 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 Oct. 31             1991             1990
    Sales                           $10,627,500      $ 7,930,951
    Other income                        109,360           70,604
    Total revenue                    10,736,860        8,001,555
    Cost of sales                     8,402,750        6,196,905
    Operating, selling and general
     and administrative expenses      1,697,034        1,310,311
       Interest costs:
    Debt                                 38,195           14,721
    Capital leases                       38,246           30,718
    Total costs and expenses         10,176,225        7,552,655
    Income before income taxes          560,635          448,900
    Provision for income taxes          207,435          166,093
    Net income                      $   353,200      $   282,807
    Earnings per share and common
     equivalent share               $       .31      $       .25
    Average number of common and
     common equivalent shares         1,152,802        1,135,714
       9 mos. ended Oct. 31             1991             1990
    Sales                           $30,248,042      $22,242,656
    Other income                        280,749          183,032
    Total revenue                    30,528,791       22,425,688
    Cost of sales                    23,940,992       17,380,004
    Operating, selling and general
     and administrative expenses      4,797,533        3,640,539
       Interest costs:
    Debt                                 83,043           26,806
    Capital leases                      110,325           93,924
    Total costs and expenses         28,931,893       21,141,273
    Income before income taxes        1,596,898        1,284,415
    Provision for income taxes          590,852          475,234
    Net income                      $ 1,006,046      $   809,181
    Earnings per share and common
     equivalent share               $       .87      $       .71
    Average number of common and
     common equivalent shares         1,152,335        1,135,717
    -0-                 11/7/91 R
    /CONTACT:  Paul R. Carter of Wal-Mart Stores, 501-273-4184/
    (WMT) CO:  Wal-Mart Stores, Inc. ST:  Arkansas IN:  REA SU:  ERN 653 11-07-91 11:59 EST BN-BR -- AT003 -- 2225 11/07/91 12:30 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Date:Nov 7, 1991
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