Wal-Mart U.S. Comps Down 1.1% in Q1

BENTONVILLE, Ark. — Wal-Mart Stores here on Tuesday said same-store sales in the U.S. fell 1.1% in the first quarter, excluding fuel, although profits overall grew on strong international growth and other factors.

BENTONVILLE, Ark.Wal-Mart Stores [2] here on Tuesday said same-store sales in the U.S. fell 1.1% in the first quarter, excluding fuel, although profits overall grew on strong international growth and other factors.

"We recognize we still have work to do, and comp sales growth remains the greatest priority for me and the entire Walmart U.S. team,” said Mike Duke, president and chief executive officer, Wal-Mart, in a prepared statement. “The good news is that the plan [Walmart U.S. President] Bill Simon and his team are executing is gaining traction.”

For the three months that ended April 30, Wal-Mart reported consolidated net income of $3.55 billion, up 3.1% over year-ago results, on a 4.4% increase in revenues, to $104.2 billion.

In the U.S., Wal-Mart said operating income rose 0.8%, to $4.65 billion, on a 0.6% increase in sales, to $62.7 billion. International sales rose 11.5%, to $27.9 billion, and Sam’s Club posted sales of $12.8 billion, a 9.4% increase.