Bentonville, AR, United States (AHN) – Wal-Mart reported Thursday a 22 percent increase in fourth quarter earnings as robust revenue growth internationally more than offset a 0.5 percent decline in U.S. sales.
The retail giant posted fourth quarter profit of $4.63 billion or $1.23 a share, up from $3.8 billion or 96 cents a share in the same period a year earlier.
Net sales grew 4.6 percent to $112.8 billion pushed by a 19 percent surge in international sales. However, the company’s same-store sales fell 1.6 percent in the fourth quarter.
Though sales at Wal-Mart stores sagged in the U.S., the retailers Sam’s Club locations saw a 3.8 percent increase in the fourth quarter to $12.3 billion.
For the full year, Wal-Mart earned $14.2 billion, up from $13.4 billion in the prior year. Sales totaled $405 billion, continuing the company’s status as the world’s largest retailer.
“Walmart’s exceptional earnings for the fourth quarter and the full year exceeded our expectations,” said Mike Duke, president and chief executive officer.
Looking forward, Wal-Mart expects earnings of 81 to 85 cents a share for the fiscal first quarter.
“These results reflect the ongoing underlying strength of our business and our strategies to improve shareholder value through our priorities – delivering growth, leveraging expenses and improving returns,” Duke said.
