Bentonville, AR, August 12--Wal-Mart Stores second quarter net earnings were up 8.5% it $2.65 billion, or 62 cents a share, compared with $2.44 billion, or 52 cents a share, a year earlier.
The company however missed consensus estimates of 61 cents per share.
Wal-Mart’s sales rose 11.3 percent to $69.72 billion from $62.64 billion last year. Total U.S. same-store sales increased 4.1 percent during the quarter, including a 3.2 percent increase for Wal-Mart Stores and an 8.8 percent same-store sales increase in the Sam's Club unit.
Lee Scott, president and CEO said, "This quarter, earnings grew faster than sales, and we improved operating profits in all of our divisions. We consider this a solid performance in a difficult retail environment. Now at the half way point, we are on track for another record year."
Sales at the company's namesake Wal-Mart stores rose 10% to $46.91 billion, and sales at Sam's Club stores increased 10% to $9.42 billion. International sales jumped 16% to $13.39 billion.
