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Wal-Mart’s Earnings Rise
Company Cites Concern Over Fuel Costs
Wal-Mart Stores said Tuesday its fourth-quarter profit rose 4% to $4.1 billion, or $1.02 per share, up from $3.9 billion, or 95 cents, a year earlier, though the company cited concern about rising fuel costs.
Net sales for the quarter ended Jan. 31 rose 8.3% to $106.3 billion. That was boosted by 18.8% international growth and 5% percent growth at U.S. stores, the company said.
Overall revenue, including membership fees, rose to $107.4 billion, from $99.1 billion.
Rising fuel costs are putting pressure on the company’s margins, said Eduardo Castro-Wright, the head of Wal-Mart’s U.S. stores, the Associated Press reported.
Diesel costs for Wal-Mart’s 7,000-plus truck fleet rose about 25% last year, and Castro-Wright called the issue a “potential headwind” for the year ahead, AP reported.
Wal-Mart, with a fleet of about 7,100 trucks and 44,500 trailers, is ranked No. 2 in the Transport Topics Private 100 listing of U.S. and Canadian private fleets.
