Walmart Saw $17 Billion Profit in 2012

Walmart Saw $17 Billion Profit in 2012Latino Daily News

Walmart Stores, Inc., the world’s largest retailer, said Thursday it posted income from continuing operations of $17 billion in the fiscal year ended Jan. 31, up 7.8 percent from the comparable prior period, thanks to higher sales and lower financing costs.

Revenues totaled $466.1 billion in fiscal 2013, up 5 percent over fiscal 2012, the company said.

“Walmart topped off a really good year with a solid fourth quarter, and I’m proud of what we accomplished as a team,” Walmart Stores, Inc. president and CEO Mike Duke said.

The giant retailer earned $5.02 per share in fiscal 2013, up 10.6 percent from the $4.54 it earned in the previous fiscal year.

“Every day, our associates around the world deliver on our mission to help customers save money so they can live better. Together, we added $22 billion in sales to top $466 billion. Walmart U.S. was a key driver of our 5 percent net sales increase,” Duke said.

Bentonville, Arkansas-based Walmart had income from continuing operations of $5.6 billion in the fourth quarter, a figure that was up 7.9 percent.

“We have high expectations for fiscal 2014, and I’m optimistic as I look ahead,” Duke said. “Walmart is operating in markets that offer continued opportunity for growth, both in our stores and online. With our core Walmart U.S. business operating so well, our investments in e-commerce and our international markets focused on growth and improving returns, we are truly the best positioned global retailer.”

Wall Street analysts had been anxiously awaiting the retailer’s results following a leak of internal Walmart e-mails last week in which one high-level executive described the company’s February month-to-date sales as “a total disaster.”

“For fiscal 2014, we expect EPS to range between $5.20 and $5.40, which includes increased fiscal 2014 costs of around $0.09 per share for our e-commerce operations. We are excited about the opportunities these investments will provide,” chief financial officer Charles Holley said.

Shares of Walmart, a Dow Jones industrial average component, were trading up $1.16, or 1.68 percent, at $70.33 near the close on the New York Stock Exchange.

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One thought on “Walmart Saw $17 Billion Profit in 2012

  1. They have also laid off thousands of employees while paying 1947 wages.

    http://www.foxnews.com/us/2012/11/16/walmart-walkout-workers-mount-black-friday-job-action/

    Walmart employees began walking off the job this week in advance of Black Friday, when three-union backed groups expect thousands of protests nationwide.

    In October, a strike at a Walmart in Los Angeles spread to stores in 12 other cities, with local and national leaders holding protests at more than 200 stores for better pay, fairer schedules and more affordable health care. Since that time, workers have since walked off the job in Dallas and Richmond, Calif., and other upcoming strikes and protests are expected at stores in Chicago, Miami, Milwaukee and Washington, D.C.

    Charlene Fletcher, who works with her husband William at a Walmart in Duarte, Calif., became enraged when she learned that both were scheduled to work on Thanksgiving, missing the holiday with their children, ages 2 and 5.

    “It’s heartbreaking to miss the holiday with them, and it’s just one more way that Walmart is showing its disregard for our families,” Fletcher said in a statement. “But when our co-workers speak out about problems like these, Walmart turns their schedules upside down, cuts their hours and even fires people. We’re going on strike for an end to Walmart’s attempts to silence its workers.

    Three groups — Making Change at Walmart, OUR Walmart and watchdog group Corporate Action Network — are now calling on the nation’s largest employer to end what they claim are retaliatory tactics against employees who seek out better working conditions.

    In a statement to FoxNews.com, Walmart spokesman Dan Fogleman characterized the movement as “another exaggerated publicity campaign aimed at generating headlines to mislead” customers and employees.

    “We have a great group of associates at Walmart,” the statement read. “We’ll have more than one million associates working throughout the holiday weekend and they’re excited about our Black Friday plans this year. This is the Super Bowl for retailers and we’re ready.

    “We’ve been working on our Black Friday plans for almost a year now and we’re prepared to have a great event. Our associates care about providing a great customer experience on Black Friday and we’re confident that’s what customers will have at Walmart this year.”

    Protests were held Thursday at Walmart stores in Eastvale and in Mira Loma, where six people were arrested for blocking traffic, KTLA reports.

    Many customers, however, told KTLA they weren’t so convinced by the workers’ plans.

    “If you come into a workplace knowing that’s an agreement you might have to make, then that’s your choice to have that job,” shopper Rae Luce told the station

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