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current news

Wal-Mart Posts 0.6% 1-Q Loss

(Filed Under Financial and General Interest News). Despite an initial sales increase, Wal-Mart Stores Inc. was impacted by currency exchange rates, and ended up with a slight loss in the first quarter.

Diluted earnings per share of 77 cents for the first quarter of fiscal year 2010, which was at the high end of the company’s guidance of 72 to 77 cents for the quarter. During the same period last year, Wal-Mart earned 76 cents per share.

Net sales were $93.471 billion, a 0.6 percent decline from net sales of $94.042 billion during last year’s quarter, although “without the negative impact of currency exchange rates equal to $4.836 billion” net sales increased by 4.5 percent. According to Wal-Mart, the company was also impact by one less selling day this year compared to last year, since 2008 was a leap year. Income from continuing operations of $3.030 was flat compared to last year’s period.

The company also released guidance for this year’s second quarter of between 83 and 88 cents per diluted share.

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more Financial and General Interest News >>

Published 05-14-2009 by Amanda Torres Price

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