US retail giant Wal-Mart Stores Inc. has announced that diluted earnings per share increased to US$0.84 for the third quarter (Q3) of fiscal year 2010, up from US$0.77 per share from continuing operations in the same period last year.
Net sales for the quarter stood at US$98.7bn, up 1.1 per cent from US$97.6bn last year, with sales standing at US$101.3bn at constant exchange rates, up 3.8 per cent.
'Walmart's record third-quarter earnings of 84 cents per share exceeded our guidance and were well above First Call consensus,' said group president and CEO Mike Duke. 'Increased productivity and improved inventory management led to a better customer experience and contributed to our stronger financial performance.
'We are encouraged by both our traffic and our market share gains across the company,' he added. 'Few companies have the momentum or opportunity that Walmart has around the world.'
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