Wal-Mart Net Tops Views, but Sales Light
The world's No. 1 retailer earned $1.21 a share in the fourth quarter, or $1.17 a share on an adjusted basis topping the estimates of analysts. Total U.S. same-store sales fell 1.6%, excluding fuel.
BENTONVILLE, Ark. (
) --
Wal-Mart
(WMT) - Get Report
, the world's No. 1 retailer, earned $1.21 a share in the fourth quarter, or $1.17 a share on an adjusted basis topping the estimates of analysts.
Total U.S. same-store sales fell 1.6%, excluding fuel, which was below company guidance.
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Net sales in the quarter were $112.8 billion, up from $107.9 billion a year earlier.
Analysts surveyed by Thomson Reuters expected Wal-Mart to earn $1.12 a share on sales of $114.6 billion.
Wal-Mart, in a press release Thursday, said it expects fiscal first-quarter earnings of 81 cents to 85 cents a share and full-year earnings of $3.90 to $4 a share.
-- Reported by Joseph Woelfel in New York.
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