U.S. Gains Pace Wal-Mart's Profit Growth

BENTONVILLE, Ark. -- Wal-Mart Stores here said yesterday that its U.S. division increased operating profits by 11.3% in the fourth quarter, on sales gains of 6.7%, helping propel profitability at the company overall. For the full fiscal year, which ended Jan. 31, Wal-Mart‘s U.S. division saw its operating profit increase by 11.1% on a sales increase of 7.8. Comparable-store sales at Wal-Mart‘s U.S. stores were up 1.6% for the quarter and 2.9% for the year. Food comps at supercenters were up in the mid-single digits. Wal-Mart said its net income for the whole company was up 9.75%, to $3.94 billion, for the fourth quarter. Income from continuing operations rose 8.8%. Revenues for the quarter rose 11%, to $99.08 billion. For the full year, net income was up 0.5%, to $11.28 billion, on an increase in revenues of 11.7%, to $348.65 billion, compared with the preceding year.