Wal-Mart Q4 net jumps 22% to $4.63 bn

Retail chain giant Wal-Mart Stores Inc today posted 22 per cent rise in net profit at $4.63 billion for the fourth quarter ended January 31, 2010, supported by strong growth in its international sales.

The company had reported a net profit of $3.79 billion in the corresponding period of previous fiscal.

Net sales for the fourth quarter were $112.8 billion, an increase of 4.6 per cent from $107.9 billion in the year-ago period.

"Wal-Mart's exceptional earnings for the fourth quarter and the full year exceeded our expectations," Wal-Mart President and Chief Executive Officer Mike Duke said.

Its fourth quarter international net sales were $29.6 billion, an increase of 19.5 per cent from last year.

 

"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 added. For the year ended January 31, 2010, the company's net profit rose by 6.9 per cent to $14.33 billion from $13.40 billion in the previous year.

Wal-Mart generated positive free cash-flow of $14.1 billion and $11.6 billion for the years ended January 31, 2010 and 2009, respectively.