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BUSINESS
May 10, 1989
Wal-Mart Stores Inc.: The Bentonville, Ark.-based retailer said first-quarter net income rose 29% to $198.2 million and revenue climbed 25% to $5.37 billion from a year ago. The company said: "First quarter sales, driven by improved apparel sales and basic in-stock positions, ran above plan throughout the period." At April 30, the company had 1,279 Wal-Mart stores, 106 Sam's Wholesale clubs, 14 Dot Discount Drugstores and three Hypermart USA units.
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BUSINESS
May 10, 1989
Wal-Mart Stores Inc.: The Bentonville, Ark.-based retailer said first-quarter net income rose 29% to $198.2 million and revenue climbed 25% to $5.37 billion from a year ago. The company said: "First quarter sales, driven by improved apparel sales and basic in-stock positions, ran above plan throughout the period." At April 30, the company had 1,279 Wal-Mart stores, 106 Sam's Wholesale clubs, 14 Dot Discount Drugstores and three Hypermart USA units.
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BUSINESS
February 7, 1988 | J. MICHAEL KENNEDY, Times Staff Writer
Hypermart USA is big, really big. So big it could hold a football field, a baseball diamond, a basketball court, an Olympic pool, three tennis courts and a par-three golf hole. And it makes people do crazy things, like drive to it in the middle of an ice storm on roads as slick as a card shark. Much to the delight of tow truck operators, thousands did that in early January, a few days after Hypermart opened its doors in this Dallas suburb.
BUSINESS
February 7, 1988 | J. MICHAEL KENNEDY, Times Staff Writer
Hypermart USA is big, really big. So big it could hold a football field, a baseball diamond, a basketball court, an Olympic pool, three tennis courts and a par-three golf hole. And it makes people do crazy things, like drive to it in the middle of an ice storm on roads as slick as a card shark. Much to the delight of tow truck operators, thousands did that in early January, a few days after Hypermart opened its doors in this Dallas suburb.
BUSINESS
May 12, 1992
Wal-Mart Stores Inc. reported Monday that its first-quarter earnings rose 26% as business remained robust, while May Department Stores Co. said its profits rebounded following a decline a year earlier. But Nordstrom Inc., the specialty apparel retailer, said its earnings fell 16%. Wal-Mart, the nation's largest retailer, has flourished as it continues to draw budget-conscious consumers who have "traded down," turning to lower-priced merchants because of the economy.
BUSINESS
July 18, 1989 | MARTHA GROVES, Times Staff Writer
Wal-Mart Stores Inc., the highly successful discount chain based in Arkansas, confirmed Monday that it plans to enter the California market in 1990, with stores in Madera, Stockton and Elk Grove. The first opening is scheduled for next summer in Stockton, where Wal-Mart will build a 110,580-square-foot store that the company said will create about 245 jobs.
BUSINESS
July 15, 1989 | MARTHA GROVES, Times Staff Writer
Wal-Mart--the folksy, homespun discount chain that has changed the face of retailing in many a Small Town, U.S.A.--appears close to making its West Coast debut with a store in the Central Valley. An official with Riley/Pearlman, a Los Angeles development firm, said Friday that Wal-Mart plans to build a store as part of a new shopping center in Madera, a community of 27,000 that is northwest of Fresno. Riley/Pearlman is developing the center.
BUSINESS
February 27, 1992 | KEVIN E. CULLINANE, SPECIAL TO THE TIMES
Wal-Mart Stores Inc., the nation's largest retail chain, said Wednesday that its profit leaped 25% to a record $1.61 billion in 1991, as its rapid expansion overcame the recession and weak consumer spending. The discount chain capped a prosperous fiscal year with a fourth-quarter earnings jump of 25%--to a record $601.4 million--at a time when other retailers are reeling from the weak economy. The retailing industry was jolted Wednesday with the news that McCrory Corp.
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