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Wal-Mart Reports Record Sales
Feb 22, 2006
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Wal-Mart Stores, Inc. reported record sales and earnings for the fourth quarter of its fiscal year 2006, ended January 31, 2006. Net sales were U.S. $89.3 billion, an increase of 8.6 percent over the fourth quarter of fiscal 2005. Net income for the quarter was $3.6 billion, an increase of 13.4 percent from $3.2 billion in the fourth quarter of fiscal 2005. Earnings per share were $0.86, up from $0.75 per share in the same prior year quarter.

The retailer, based in Bentonville, Arkansas, U.S., said net sales for the fiscal year ended January 31, 2006, were $312.4 billion, an increase of 9.5 percent over fiscal 2005. Net income for fiscal 2006 increased 9.4 percent to a record $11.2 billion, up from $10.3 billion in fiscal 2005. Earnings per share for fiscal 2006 were $2.68, up from $2.41 in fiscal 2005.

"We added more than $7 billion in sales in the quarter and ended the year strong," said Wal-Mart Stores President and CEO Lee Scott. Scott said he is optimistic about the year and anticipates positive results from Wal-Mart's strategies to improve the customer experience.

"Our entire management team is dedicated to growing sales by making our stores more relevant to today's customers," Scott explained. "We want our merchandise to appeal to a broad range of customers who are already shopping our stores. We want customers to shop Wal-Mart for all their needs, from consumables to electronics, home d├ęcor and apparel."

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