Wal-Mart reports strong Q2 gains
FROM TWICE: Sales up 10.4% in period
By Alan Wolf of TWICE -- Video Business, 8/14/2008
AUG. 14 | FROM TWICE: Wal-Mart said competitive pricing, improved customer service, and strong operating performance and inventory management led to solid sales and earnings gains during its second fiscal quarter.Total sales rose 10.4% to $101.6 billion for the three months ended July 31, and operating income increased 9.7% to $5.8 billion.
Domestically, Wal-Mart’s flagship discount stores saw net sales rise 8.5% to $64 billion while operating income increased 10.8% to $4.7 billion. Comp-store sales grew 4.6% during the period.
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