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

 WAL-MART STORES INC. REPORTS RECORD SALES AND INCOME
 FOR THE FIRST QUARTER
 BENTONVILLE, Ark., May 11 /PRNewswire/ -- Wal-Mart Stores, Inc. (NYSE: WMT; PSE) today reported record sales of $11,649,430,000 for the three months ended April 30, an increase of 26 percent over sales of $9,280,570,000 for the same period a year earlier.
 Net income increased 26 percent to $386,955,000 for the three months from net income of $306,953,000 for the first quarter of last year. Net income per share increased to 34 cents in this year's quarter from 27 cents per share in the 1991 quarter.
 The costing of inventories under the LIFO method reduced net income $13,545,000 or 1 cent per share, for the quarter this year compared with $13,545,000 or 1 cent per share for the same quarter last year.
 Commenting on the company's performance, President and Chief Executive Officer David Glass said: "Excellent expense control and sales that consistently ran ahead of our plans have resulted in this solid performance to begin this new year. We believe we are well positioned to achieve our sales and earnings objectives for the balance of the year."
 In the first quarter, the company opened 15 new Wal-Mart stores, expanded and relocated 38 stores (three were Supercenters), opened seven new Sam's Clubs, and expanded and relocated seven clubs for a net addition of 3,888,302 square feet of retail floor space.
 At April 30, the company had 1,735 Wal-Mart stores (includes nine Supercenters), 215 Sam's Clubs and four Hypermart*USA units, compared with 1,591 Wal-Mart stores (includes five Supercenters), 178 Sam's Clubs and four Hypermart*USA units at the same time last year.
 Wal-Mart (WMT) operates stores in a 43-state trade area, 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 April 30 1992 1991
 Sales $11,649,430 $ 9,280,570
 Other income 104,911 76,495
 Total revenue 11,754,341 9,357,065
 Cost of sales 9,256,326 7,330,165
 Operating, selling and general
 and admin. expenses 1,807,942 1,484,853
 Interest costs:
 Debt 33,266 20,500
 Capital leases 42,593 34,320
 Total costs and expenses 11,140,127 8,869,838
 Income before income taxes 614,214 487,227
 Provision for income taxes 227,259 180,274
 Net income $ 386,955 $ 306,953
 Earnings per share and common
 equivalent share $ .34 $ .27
 Average number of common and
 common equivalent shares 1,149,124 1,151,456
 -0- 5/11/92 R
 /CONTACT: Paul Carter of Wal-Mart Stores, 501-273-4184/
 (WMT) CO: Wal-Mart Stores, Inc. ST: Arkansas IN: REA SU: ERN


EA-BN -- AT001R -- 8470 05/11/92 09:28 EDT
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Publication:PR Newswire
Date:May 11, 1992
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