Printer Friendly

WAL-MART STORES, INC., REPORTS RECORD SALES AND INCOME FOR FOURTH QUARTER AND YEAR ENDED JAN. 31

 WAL-MART STORES, INC., REPORTS RECORD SALES AND INCOME
 FOR FOURTH QUARTER AND YEAR ENDED JAN. 31
 BENTONVILLE, Ark., Feb. 26 /PRNewswire/ -- Wal-Mart Stores, Inc. (NYSE: WMT; PSE) today reported record sales and profits for the fourth quarter and year ended Jan. 31.
 Unaudited sales were $43,886,902,000, up from $32,601,594,000 a year ago, a 35 percent increase. Unaudited net income increased 25 percent to $1,608,476,000, up from $1,291,024,000 a year earlier.
 Net income per share was $1.40 for the year ended Jan. 31, 1992, as compared with $1.14 per share a year earlier. Return on the beginning of the year shareholders' equity was 30 percent as compared with 33 percent a year earlier.
 Fourth quarter sales increased 32 percent to $13,638,860,000 from $10,358,938,000 in the same quarter last year. Net income increased 25 percent to $602,430,000 from $481,843,000 in the prior year's final quarter.
 For the year, the LIFO method reduced net income $45,640,000, or four cents per share, as compared with $48,594,000, or four cents per share last year.
 David Glass, president and chief executive officer, commented: "We are pleased to have met our sales and earnings objectives with another record year. Our pleasure with this performance is exceeded by our sense of appreciation for our associates whose extraordinary efforts enabled us to achieve these results despite a sluggish economy while integrating the McLane, Western and Phillips companies."
 In the fourth quarter, the company opened 68 new Wal-Mart stores and 15 Sam's Clubs (and closed one club) for a net addition of 9,997,009 square feet of retail floor space. This year, 148 new Wal-Mart stores (one was closed) and 61 Sam's Clubs (one club was closed and 28 clubs were acquired from The Wholesale Club) have added 25,230,450 square feet.
 At Jan. 31, the company had 1,720 Wal-Mart stores (includes six Supercenter stores), 208 Sam's Clubs and four Hypermart*USA units, compared with 1,573 Wal-Mart stores (includes five Supercenter stores), 148 Sam's Clubs and four Hypermart*USA units at the same time last year.
 Wal-Mart (WMT) operates in a 42 state 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 data)
 3 mos. ended Year ended
 1/31/92 1/31/91 1/31/92 1/31/91
 Sales $13,638,860 $10,358,938 $43,886,902 $32,601,594
 Other income 121,772 78,782 402,521 261,814
 Total revenue 13,760,632 10,437,720 44,289,423 32,863,408
 Cost of sales 10,845,128 8,119,830 34,786,119 25,499,834
 Operating, selling
 and general and
 admin. exp. 1,886,771 1,511,639 6,684,304 5,152,178
 Interest costs:
 Debt 30,262 15,910 113,305 42,716
 Capital leases 42,233 31,996 152,558 125,920
 Total costs and
 expenses 12,804,394 9,679,375 41,736,286 30,820,648
 Income before
 income taxes 956,238 758,345 2,553,137 2,042,760
 Provision for
 income taxes 353,808 276,502 944,661 751,736
 Net income $ 602,430 $ 481,843 $ 1,608,476 $ 1,291,024
 Earnings per share
 and common equiv.
 share $ .52 $ .42 $ 1.40 $ 1.14
 Average number of
 common and common
 equiv. shares 1,153,172 1,141,261 1,152,579 1,137,099
 -0- 2/26/92
 /CONTACT: Paul Carter of Wal-Mart Stores, 501-273-4184/
 (WMT) CO: Wal-Mart Stores, Inc. ST: Arkansas IN: REA SU: ERN


BR-BN -- AT001 -- 2662 02/26/92 09:10 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 26, 1992
Words:633
Previous Article:BWIP HOLDING INC. DECLARES FIRST QUARTER DIVIDEND
Next Article:ITEL SHARE REPURCHASES
Topics:


Related Articles
WAL-MART STORES, INC., REPORTS RECORD SALES AND INCOME FOR FOURTH QUARTER AND YEAR ENDED JAN. 31, 1993
WAL-MART STORES INC. REPORTS RECORD SALES AND INCOME FOR FOURTH QUARTER AND YEAR ENDED JAN. 31, 1994
WAL-MART REPORTS RECORD SALES AND EARNINGS FOR THE YEAR
Wal-Mart Reports Record Sales and Earnings for the Year
Wal-Mart Reports Record Sales and Earnings for Quarter and Year
Wal-Mart Reports Record Sales and Earnings for Quarter and Year.
Wal-Mart Stores Inc.
Wal-Mart Reports Record Sales and Earnings for Quarter and Year.
Wal-Mart sales, earnings jump. (Retail).
Wal-Mart Reports Record Fourth Quarter Sales and Earnings.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters