Wal-Mart Reports Strong Fourth Quarter - NewsOn6.com - Tulsa, OK - News, Weather, Video and Sports - KOTV.com |

Wal-Mart Reports Strong Fourth Quarter

Updated:
BENTONVILLE, Ark. (AP) -- Bentonville-based Wal-Mart reported Tuesday fourth-quarter profit growth of 8.8 percent to beat analyst estimates. And the company issued a bullish forecast the year ahead.

Chief Executive Lee Scott says Wal-Mart's flagship US business helped lift the full company's results. He attributed the growth in part to a twin strategy of discounting hot items like electronics and holiday toys while continuing to tailor stores more closely to local demographics.

Analysts say Wal-Mart overcame headwinds including remodeling projects that interrupted sales and an overly ambitious push into trendier women's apparel.

Wal-Mart's profit for the period ending January 31st was $3.94 billion, or 95 cents per share. That's up from $3.62 billion or 87 cents from one year prior.

Wal-Mart beat analysts expectations by 3-cents per share.

Wal-Mart said it expects its same-store sales to increase by 1 percent to 3 percent in its first quarter, and first-quarter per-share earnings of between 68 cents and 71 cents. For fiscal 2008, Wal-Mart expects per-share earnings of between $3.15 and $3.23.
Powered by Frankly
News On 6
303 N. Boston Ave.
Tulsa, OK 74103
Newson6.com is proud to provide Oklahomans with timely and relevant news and information, sharing the stories, pictures and loves of Oklahomans across our great state.
All content © Copyright 2000 - 2017 KOTV. Oklahoma Traveler™ is a registered trademark of Griffin Communications. All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.