Wal-Mart Q4 Comps Up 1.5%

BENTONVILLE, Ark. — Wal-Mart Stores here said Tuesday same-store sales in its U.S. operations rose 1.5% with higher traffic for the fourth quarter — the second consecutive period of positive comp sales and the fourth consecutive quarter of comp improvement.

For the 13-week quarter, which ended Jan. 31, net income on continuing operations rose 3.4% to $5.2 billion, and total sales climbed 5.8% to $122.3 billion, including $2.4 billion from the acquisition of Netto stores in the United Kingdom and Massmart in South Africa and the negative impact of $1.4 billion due to currency exchange rates.

Excluding the acquisitions and comparing sales on a constant currency basis, sales for the quarter were up 4.5% to $120.8 billion. For the year net income on continuing operations rose 2.7% to $4.2 billion, while sales rose 5.9% to $443.9 billion, including $4.7 billion from acquisitions.

Sales for the year at Walmart U.S. rose 1.5% to $264.2 billion, or 60% of the total; sales at Sam’s Club rose 8.8% to $53.8 billion, or 12% of the total; and international sales rose 15.2% to $125.8 billion, or 28% of the total.

“Every segment of our business is stronger today than it was a year ago,” Mike Duke, president and chief executive officer, said. “The plan [the company] put in place a year ago in the U.S. was the right plan. We listened to our customers, added back assortment and increased in-stock, and we brought back layaway.

“We churned the productivity loop, reduced expenses and invested the savings in lower prices. You can expect us to invest even more in lower prices this year.”