USA: Wal-Mart Reports Record Sales and Income
Wal-Mart Stores reported record sales for the third quarter of $45.676bn and sales of $134.773bn for the nine months ended October 31, 2000, representing increases of 13.0 per cent and 18.6 per cent, respectively, compared to the same periods last year.Net income for the third fiscal quarter was also a record at $1.369bn, or $0.31 per share, and was up 5.8 per cent compared to the $1.294bn, or $0.29 per share, reported in the same quarter in the prior year. Net income for the nine months increased 24.0 per cent to $4.291bn, or $0.96 per share, compared to $3.461bn, or $0.78 per basic share, reported in the same nine month period last year.Lee Scott, president and chief executive officer of Wal-Mart Stores, said: "We are pleased that in a difficult quarter we were able to achieve record sales and earnings. We gained market share and generated good earnings growth in a challenging retail environment."
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