Wal-Mart results up. (financial)(Brief Article)

HFN: The Weekly Newspaper for the Home Furnishing Network, March, 1998

Wal-Mart Stores Inc. said its Wal-Mart division had operating profit of $6.4 billion in the latest 1998 fiscal year, compared with $5.5 billion in 1997. The company's Sam's division had operating profit of $950 million, up from $864 million last year.

Wal-Mart's fourth quarter operating profit of $2.15 billion compared with $1.89 billion last year. The Wal-Mart unit's same-store sales rose 7.1 percent.

For the quarter, Sam's operating profit rose 12 percent to $307 million from $274 million last year. Same-store sales at the Sam's division rose 6.1 percent.

Although reporting a solid year, Wal-Mart said inventory in its domestic retail operating units declined on a double-digit increase in sales. But the retailer said 1999 will be successful.