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Wal-Mart's 1st-Quarter Earnings Rise 12%

May 13, 1997|(Bloomberg News)

Wal-Mart Stores Inc.'s fiscal first-quarter earnings rose 12% on sales and profit improvements in each of its divisions. The world's largest retailer said net income rose to $652 million, or 29 cents a share, from $571 million, or 25 cents, in the year-ago quarter. The results, released after the stock markets closed, matched Wall Street expectation. Revenue also rose 12%, to $25.4 billion from $22.8 billion. Sales climbed in each of the Bentonville, Ark.-based company's units, including its discount stores, supercenters, Sam's warehouse clubs and international operations. . . . May Department Stores Co. reported first-quarter earnings of $98 million, or 38 cents a share, compared with the $98 million, or 36 cents, earned a year ago. . . . Nordstrom Inc. reported first-quarter profit of $32.3 million, or 41 cents a share, compared with $25.9 million, or 32 cents, a year ago.

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