Wal-Mart's 2Q profit rises 17 percent

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Bob Juch · #1 Post by **Bob Juch** » Thu Aug 14, 2008 6:28 am

NEW YORK—Wal-Mart Stores Inc. said Thursday second-quarter profit rose 17 percent and raised its full-year forecast as the world's largest retailer benefits from low prices that are attracting financially squeezed shoppers in a challenging economy and its campaign to cut costs.

The Bentonville, Ark.-based retailer said that net income was $3.45 billion, or 87 cents per share, in the three-month period ended July 31, up from $2.95 billion, or 72 cents per share, in the year-ago period.

Income from continuing operations for the second quarter was $3.39 billion, an increase of 9.3 percent from $3.09 billion in the second quarter last year. The prior-year period included a benefit of 4 cents per share from several items, including the impact of a reduction of general liability and workers' compensation claim accruals, gains from the sale of certain real estate properties, and charges for legal and other contingencies.

Net sales were approximately $101.6 billion in the second quarter, a 10.4 percent increase from $92 billion in the year-ago period. A survey of analysts polled by Thomson Reuters expected $101.9 billion.

For the quarter, the discounter posted a same-store sales gain of 4.5 percent. Same-store sales are sales at stores opened at least a year and are considered a key indicator of a retailer's health.

"We have improved customer traffic and ticket and overall sales growth in our markets," said Lee Scott, president and chief executive of Wal-Mart Stores, in a statement. "While inflation and higher fuel costs are pressuring suppliers, retailers and customers worldwide, we're confident that Wal-Mart is well positioned for this economy."

The company expects third-quarter same-store sales to rise between 1 percent and 2 percent and full-year profit between $3.43 and $3.50 per share. Analysts polled by Thomson Reuters expect $3.49 per share, on average.

kayrharris · #2 Post by **kayrharris** » Thu Aug 14, 2008 7:15 am

I hope they give LB a big raise.

Here's Fanny! · #3 Post by **Here's Fanny!** » Thu Aug 14, 2008 7:22 am

kayrharris wrote:I hope they give LB a big raise.

I'm sure all my four buck scrips are the reason behind this.

#4 Post by **littlebeast13** » Thu Aug 14, 2008 7:25 am

kayrharris wrote:I hope they give LB a big raise.

Well, we are racking up the quarterly bonuses this year....

lb13

kayrharris · #5 Post by **kayrharris** » Thu Aug 14, 2008 7:29 am

I'm glad to hear that. Need to keep those employees happy.

See how nice I am to you?

#6 Post by **littlebeast13** » Thu Aug 14, 2008 7:32 am

kayrharris wrote:I'm glad to hear that. Need to keep those employees happy.

See how nice I am to you?

Yes ma'am, I do.

I am just a big meanie....

I guess I wasn't spanked enough as a child.....

lb13

Here's Fanny! · #7 Post by **Here's Fanny!** » Thu Aug 14, 2008 7:36 am

littlebeast13 wrote:
kayrharris wrote:I hope they give LB a big raise.

Well, we are racking up the quarterly bonuses this year....

lb13

How dare they give bonuses!!! That sounds like something a union would do.

Maybe they can just take the extra profits and get some new fainting couches for the break room.

#8 Post by **littlebeast13** » Thu Aug 14, 2008 7:44 am

Here's Fanny! wrote:
littlebeast13 wrote:
kayrharris wrote:I hope they give LB a big raise.

Well, we are racking up the quarterly bonuses this year....

lb13
How dare they give bonuses!!! That sounds like something a union would do.

Maybe they can just take the extra profits and get some new fainting couches for the break room.

Those would clash with the comfy chairs....

lb13

PlacentiaSoccerMom · #9 Post by **PlacentiaSoccerMom** » Thu Aug 14, 2008 8:39 am

littlebeast13 wrote:
kayrharris wrote:I hope they give LB a big raise.

Well, we are racking up the quarterly bonuses this year....

lb13

They give bonuses? Wow!

I haven't been to a Wal-Mart in a long time.

PlacentiaSoccerMom · #10 Post by **PlacentiaSoccerMom** » Thu Aug 14, 2008 8:40 am

Here's Fanny! wrote:
littlebeast13 wrote:
kayrharris wrote:I hope they give LB a big raise.

Well, we are racking up the quarterly bonuses this year....

lb13
How dare they give bonuses!!! That sounds like something a union would do.

Maybe they can just take the extra profits and get some new fainting couches for the break room.

Or health insurance for their employees!

#11 Post by **littlebeast13** » Thu Aug 14, 2008 8:43 am

PlacentiaSoccerMom wrote:
littlebeast13 wrote:
kayrharris wrote:I hope they give LB a big raise.

Well, we are racking up the quarterly bonuses this year....

lb13
They give bonuses? Wow!

They have for a long time. They're based on individual store perfromance, and most stores qualify for them on a regular basis....

The two we got for the 4th quarter of '07 and 1st quarter of '08 have been the first ones our store has qualified for since 1994....

We will all be getting a nice $400+ bonus in a few weeks for our great 2nd quarter....

lb13

PlacentiaSoccerMom · #12 Post by **PlacentiaSoccerMom** » Thu Aug 14, 2008 8:44 am

littlebeast13 wrote: We will all be getting a nice $400+ bonus in a few weeks for our great 2nd quarter....

lb13

Nice!

#13 Post by **littlebeast13** » Thu Aug 14, 2008 8:45 am

PlacentiaSoccerMom wrote:
Here's Fanny! wrote:
littlebeast13 wrote:
Well, we are racking up the quarterly bonuses this year....

lb13
How dare they give bonuses!!! That sounds like something a union would do.

Maybe they can just take the extra profits and get some new fainting couches for the break room.

Or health insurance for their employees!

What do you think I have, the Witch Doctor HMO? They don't treat stones.....

lb13

TheCalvinator24 · #14 Post by **TheCalvinator24** » Thu Aug 14, 2008 8:54 am

Here's Fanny! wrote:
littlebeast13 wrote:
kayrharris wrote:I hope they give LB a big raise.

Well, we are racking up the quarterly bonuses this year....

lb13
How dare they give bonuses!!! That sounds like something a union would do.

Maybe they can just take the extra profits and get some new fainting couches for the break room.

Maybe their employees don't want to unionize because, despite the conventional wisdom to the contrary, WalMart really does take pretty good care of their team members.

kayrharris · #15 Post by **kayrharris** » Thu Aug 14, 2008 8:57 am

littlebeast13 wrote:
PlacentiaSoccerMom wrote:
littlebeast13 wrote:
Well, we are racking up the quarterly bonuses this year....

lb13
They give bonuses? Wow!

They have for a long time. They're based on individual store perfromance, and most stores qualify for them on a regular basis....

The two we got for the 4th quarter of '07 and 1st quarter of '08 have been the first ones our store has qualified for since 1994....

We will all be getting a nice $400+ bonus in a few weeks for our great 2nd quarter....

lb13

I'll be expecting my gift card in the mail soon.

#16 Post by **littlebeast13** » Thu Aug 14, 2008 9:05 am

kayrharris wrote:
littlebeast13 wrote:
PlacentiaSoccerMom wrote: They give bonuses? Wow!

They have for a long time. They're based on individual store perfromance, and most stores qualify for them on a regular basis....

The two we got for the 4th quarter of '07 and 1st quarter of '08 have been the first ones our store has qualified for since 1994....

We will all be getting a nice $400+ bonus in a few weeks for our great 2nd quarter....

lb13
I'll be expecting my gift card in the mail soon.

I'll have ES send it to you.

Just make sure he doesn't end up in your pool.....

lb13

kayrharris · #17 Post by **kayrharris** » Thu Aug 14, 2008 9:07 am

Hey, I rescued the last furry creature that decided to take a dip, didn't I?

#18 Post by **littlebeast13** » Thu Aug 14, 2008 9:13 am

kayrharris wrote:Hey, I rescued the last furry creature that decided to take a dip, didn't I?

Well, if he needs mouth to mouth, just make sure you pinch his nose shut....

lb13