Wally World Takes a Domestic Dip

Posted by Admin | February 22nd, 2011

There are several titans of industry in the United States whom, it seems, year-after-year, continue to grow. Walmart is one of those companies that seems to consistently grow, no matter what sort of economy we have, no matter how bad things get–people still want those “rollback” prices and that smiley-face pointing them towards deals. While it seems like this is the way things are, the truth is hat Walmart does slip occasionally.

The world’s largest retailer said it earned $5.02 billion, or $1.41 a share, last quarter, compared with a profit of $4.82 billion, or $1.26 a share, a year earlier. Excluding one-time items, it earned $1.34 a share, exceeding consensus calls for $1.31.

However, Wal-Mart said its sales grew just 2.5% to $115.6 billion, trailing the Street’s view of $117.7 billion. Same-store sales slid 1.8% domestically.

While Walmart still had a very good year, this is not the 4th quarter they wanted, that’s for sure. Still, don’t expect to see Walmart panicking–they still did well on the stock market, despite lower domestic sales.