Wal-Mart Stores, Inc. reported net sales for the four-week period ending May 2, 2003, of $18.562 billion, an increase of 12.2 percent over the $16.538 billion in the similar period in the prior year. Sales for the thirteen-week period were $58.369 billion, an increase of 9.9 percent over $53.100 billion in the similar period in the prior year.
On May 2, Wal-Mart Stores, Inc. announced that it had entered into an agreement to sell McLane Company, Inc. (“McLane”), a wholly owned subsidiary. The amounts disclosed above do not include McLane sales for the comparative periods. If McLane sales were included, the sales increase would be 11.4 percent and 9.3 percent for the four-week and thirteen-week period respectively.
The Wal-Mart division’s sales for the four-week period were $12.621 billion, up 12.2 percent over sales of $11.250 billion in the similar prior-year period. The division’s sales for the thirteen weeks of $39.690 billion were up 9.3 percent over the $36.303 billion in the similar prior-year period.
SAM’s CLUB sales for the four-week period were $2.494 billion, up 6.8 percent over sales of $2.336 billion in the similar prior-year period. Club sales for the thirteen weeks of $8.016 billion were up 7.5 percent over the $7.459 billion in the similar prior-year period.
The International division’s sales for the four-week period were $3.447 billion, up 16.8 percent over sales of $2.952 billion in the similar prior-year period. The division’s sales for the thirteen weeks of $10.663 billion were up 14.2 percent over the $9.339 billion in the similar prior-year period.
Comparable sales for the period ending May 2, 2003, were as follows:
4 Weeks 13 Weeks
This Year Last Year This Year Last Year
Wal-Mart 5.1% 3.2% 2.5% 8.4%
SAM's CLUB 2.0% 4.0% 2.4% 5.4%
Total US Retail 4.6% 3.3% 2.5% 7.8%
Despite lower than planned sales, the Company now expects earnings for the first quarter ending April 30, 2003 to be at the high end of our previously stated guidance of $0.40 to $0.42 per share.
