Walmart reported net income of $3.742 billion ($1.09 Diluted EPS) for the first quarter ended Apr 30, a 10% increase from a year ago. Net sales increased 8.6% to $112.3 billio, while U.S. same-store rose 3.2% (3.0% ex fuel), the 5th consecutive gain after 7 straight declines; U.S. comps at Walmart rose 2.6% and 6.2% (5.3% ex fuel) at Sam’s Club, and International sales rose 15%. “We are very pleased that Walmart delivered earnings and comparable sales above guidance for the first quarter. Despite a negative impact from currency, we grew sales and operating profit over last year,” said Mike Duke, Wal-Mart Stores, Inc. president and chief executive officer. “Our overall performance reflects the success of Walmart’s business model: driving the productivity loop, leveraging expenses and investing in price leadership. We believe that the momentum throughout our business positions us very well for the rest of the year.” Charles Holley, executive vice president and CFO, said “Based on our current trend in performance, along with seasonal impacts and the current economic and sales environment, we expect second quarter fiscal 2013 diluted earnings per share from continuing operations to range between $1.13 and $1.18. This compares to last year’s second quarter reported EPS of $1.09,”
