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Walmart posts 1.6% rise in net sales for Q3

RBR Staff Writer Published 18 November 2013

American retail major Walmart has reported 1.6% rise in net sales to $114.9bn for the third quarter ended 31 October 2013, compared to the same period last year.

Walmart

The chain's operating income was $6.3bn, an increase of 3.6%, compared to the same period last year. Consolidated net income attributable to Walmart was $3.7bn, up 2.8%.

Comparable sales for Walmart US declined 0.3% in the 13-week period 25 ended October while comparable sales for the Neighborhood Market format rose approximately 3.4%.

Sam's Club comp sales, without fuel, were up 1.1% during the 13-week period while Walmart International's net sales grew to $33.1bn.

Wal-Mart Stores president and chief executive officer Mike Duke said Walmart delivered solid earnings growth that was within company's guidance range.

"We had strong operating income across our segments, with Walmart U.S. growing almost 6 percent, Sam's Club increasing more than 9 percent, and International up 8 percent on a constant currency1 basis," Duke added.

"The retail environment, both in stores and online, remains competitive. Walmart has aggressive plans to help our customers enjoy the holiday season, and there is no doubt that we plan to win for our customers and shareholders throughout the holidays."

It operates around 11,096 stores under 69 banners in 27 countries and e-commerce websites in 10 countries.

Image: Walmart Supercenter in Laurel, Maryland. Photo: Courtesy of Maryland Pride.