Wal-Mart Reports Flat First-Quarter Income
Wal-Mart Stores said Thursday its fiscal first-quarter profit was flat from a year ago as revenue from its international operations was hurt by a stronger dollar, the Associated Press reported.
The world’s largest retailer earned $3.02 billion, matching last year, or 77 cents per share, up a penny from a year ago.
Revenue for the quarter ended April 30 dipped 0.6% to $93.47 billion, from $94.04 billion. Total U.S. sales for the quarter rose 3.7%, compared with a 2% gain a year ago.
Its earnings were hurt by 4 cents a share because of currency exchange rates, AP reported.
Last week, Wal-Mart said last month that its April same-store sales rose 5%, but said it will no longer provide monthly comparisons.
With about 8,000 tractors and 1,400 straight trucks, Wal-Mart ranks No. 3 on the Transport Topics Private 100 listing of the largest U.S. and Canadian private carriers.
