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WAL-MART'S FOURTH-QUARTER PROFIT UP 16%

BENTONVILLE, Ark. -- Wal-Mart Stores here last week reported fourth-quarter profit climbed 16% on a 12% sales gain.Earnings came to $1.09 billion, or 48 cents a share. In the prior-year period, the discounter netted $942 million, or 41 cents.Sales in the fourth quarter jumped 12% to $30.9 billion from $27.6 billion.The Wal-Mart division, comprising discount stores and supercenters, logged an operating

BENTONVILLE, Ark. -- Wal-Mart Stores here last week reported fourth-quarter profit climbed 16% on a 12% sales gain.

Earnings came to $1.09 billion, or 48 cents a share. In the prior-year period, the discounter netted $942 million, or 41 cents.

Sales in the fourth quarter jumped 12% to $30.9 billion from $27.6 billion.

The Wal-Mart division, comprising discount stores and supercenters, logged an operating profit of $1.89 billion, up 14.5% from a year earlier. Sales were up 12% to $22 billion, as comparable-store sales climbed 5.4%.

Robert Buchanan, an analyst at NatWest Securities, New York, said by the end of the year, supercenters will account for about 24% of Wal-Mart's sales and profits. Wal-Mart is expected to end the year with 444 supercenters.

Operating profit at Sam's Club in the fourth quarter advanced 18.6% to $274 million. Sales moved ahead 7% to $5.5 billion. Comparable-store sales ran up 7%.

Wal-Mart's international business showed an operating profit of $65 million, rebounding from a loss of $13 million. Sales abroad climbed 23% to $1.65 billion. In the full year, Wal-Mart's profits grew 12% to $3.06 billion, or $1.33 a share, from $942 million, or 41 cents. Sales advanced 12% to $104.9 billion.

At the Wal-Mart division, operating profits rose 11% to $5.55 billion. Sales advanced 13% to $74.8 billion. Sam's Club operating profits edged up 8% to $864 million. Sales rose 4% to $19.79 billion. The international division had operating profit of $24 million against a loss of $16 million.

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