Wal-Mart logs $18.4 billion in sales, pays for hurricane costs
08 Oct '05
2 min read
World largest retailer Wal-Mart Stores Inc reported net sales for the 5-week period ending September 30, 2005, and October 1, 2004.
SAM'S CLUB comparable sales without gasoline sales would have been 6.3 percent for the September 5-week period. Total US comparable sales would have been 3.2 percent without the SAM'S gasoline sales. During the 5-week and 35-week periods, Wal-Mart Stores Inc added over $2.5 billion and $18.4 billion in sales, respectively.
They estimate comparable sales in the US for the October four-week period to be in the 2 to 4 percent range.
Tom Schoewe, Executive Vice President and Chief Financial Officer said, 'During the current quarter, many of their customers, associates and communities were deeply affected by hurricanes Katrina and Rita. They dedicated their resources to assist in the recovery. Toward that objective, they made cash and merchandise contributions but also incurred additional associate, logistics and operational costs. The impact of these hurricanes on the third quarter will decrease earnings by approximately $0.01 per share.'
Despite the financial impact of the hurricanes, their earnings per share guidance remains at $0.55 to $0.59 for the third fiscal quarter.
Wal-Mart Stores Inc operates Wal-Mart Stores, Supercenters, Neighborhood Markets and SAM'S CLUB locations in the United States. The company operates in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Germany, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico, South Korea and the United Kingdom. The company's securities are listed on the New York and Pacific stock exchanges under the symbol WMT.
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