Wal-Mart’s First-Quarter Profit Jumps 6.9%

Wal-Mart Stores said Tuesday its first-quarter profit jumped 6.9% on higher sales, to $3.02 billion, or 76 cents per share, up from $2.83 billion, or 68 cents per share, a year ago.

Net sales for the quarter ended April 30 rose 10.3% to $95.3 billion, the retailer said.

But the company, which has a large fleet of trucks, said fuel costs were a concern going forward.

Higher transportation costs will remain a potential headwind for the rest of the year, Chief Financial Officer Tom Schoewe said, the Associated Press 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.