BENTONVILLE, Ark. — Wal-Mart Stores here on Thursday said net earnings for its fiscal second quarter increased by 5.7%, helped along by a modest gain in U.S. sales.
Net sales for the quarter ending July 31 totaled $113.5 billion, a 4.5% gain from the same period a year ago, and net earnings totaled $4 billion. U.S. sales of $67.4 billion were up by 3.8%, and U.S. comparable-store sales, excluding fuel, improved by 2.2%. Wal-Mart’s Sam’s Club division reported a 3.8% increase in sales to $14.2 billion, with comps up 4.2%.
Bill Simon, chief executive officer of Walmart U.S., in a recorded statement said the comp improvement at U.S. stores was driven by a 0.4% increase in traffic and a 1.8% improvement in average ticket. Gross profit as a percent of sales declined by 20 basis points in the U.S., as the company continued to invest in price.
Simon said the retailer was pleased with the results in the 25 markets in which Wal-Mart is running an ad campaign built around basket price comparisons with supermarkets.
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