Wal-Mart (NYSE: WMT) hit all cylinders in the first quarter, with U.S. and international sales both doing well, as did Sam's Club.
Even though the currency market was a negative for the company for the quarter, it was still able to generate 8.6 percent consolidated net sales growth year-over-year.
Same-store sales in the United States climbed a healthy 2.6 percent over the same quarter in 2011, while Sam's Club sales, not including fuel, jumped 5.3 percent.
Wal-Mart International sales soared by 15 percent as the company continues its aggressive expansion. Operating income at the unit rose 21 percent over last year during the same period.
Diluted earnings per share beat previous guidance, coming in at $1.09, up from the $0.98 a share last year in the same quarter, an increase of over 11 percent. Analysts had been looking for $1.04 a share for in the quarter.
Guidance from Wal-Mart for the second quarter in 2013 is projected to come in at a range of $1.13 to $1.18 a share.
Wal-Mart also announced it is boosting its dividend to an annual $1.59 a share, upping it by 9 percent.
The giant retailer was trading at $62.23, up $3.04, or 5.14 percent, as of 1:45 PM EDT.
No comments:
Post a Comment