Wal-Mart profits continue to climb. (Business Today).(Brief Article)(Statistical Data Included)
Home Textiles Today, May, 2002 by Hogsett, Don
BENTONVILLE, AR -- With same-store sales climbing sharply higher, and margins gaining strength as well, Wal-Mart Stores Inc., the world's largest retailer, drove first-quarter profits up by almost 20 percent, to $1.7 billion from $1.4 billion last year. Sales at the retailer climbed by 14.4 percent, as each of its three retailing divisions--Wal-Mart, Sam's Club and the international business--grew at a double-digit pace, capitalizing on consumers' growing appetite for low prices.
Helping to fuel the strong earnings growth, same-store sales grew by 8.1 percent, driven by an even stronger gain of 8.6 percent in the core Wal-Mart Stores. Sam's Club same-store sales rose by 5.7 percent. Overall sales for the international juggernaut climbed by 14.4...
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