Wal-Mart Stores Inc., the world's largest retailer, said Tuesday its renewed focus on low prices paid off with a 4 percent rise in profit for its fourth quarter as holiday shoppers bought discounted groceries and home electronics as well as health and wellness products.
International growth also helped boost profit and sales. Stores in 13 countries outside the U.S. accounted for about 25 percent of total company sales in the quarter, up from 23 percent a year earlier.
Wal-Mart said net income in the quarter ended Jan. 31 rose to $4.096 billion, or $1.02 per share, compared to $3.94 billion, or 95 cents a share, a year earlier.
Net sales grew 8.3 percent to $106.27 billion, helped by 18.8 percent international growth and 5.0 percent growth at U.S. Wal-Mart stores. Overall revenue including membership fees rose to $107.43 billion from $99.078 billion a year earlier.
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This article is about Wal-Mart's rising profits and international growth. The net income has risen from $3.94 billion to $4.096 billion this year (recorded at the end of January) from the previous year and net sales have increased 8.3 percent. Wal-Mart's growth relates to economics because their "price leadership" strategy of selling products at lower prices paid off in the long run while the economy was low. (The picture is Sam Walton's original "five and dime" store before it grew into what Wal-Mart is now).
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