Create a New Forum Admin Login Member Login Contribute to Voyager Search VoyForums Help Desk VoyForums Exchange VoyForums Directory/Categories VoyForums Homepage VoyForums News FAQ - Frequently Asked Questions

[ Show ]

Support VoyForums

[ Shrink ]

VoyForums Announcement: Programming and providing support for this service has been a labor of love since 1997. We are one of the few services online who values our users' privacy, and have never sold your information. We have even fought hard to defend your privacy in legal cases; however, we've done it with almost no financial support -- paying out of pocket to continue providing the service. Due to the issues imposed on us by advertisers, we also stopped hosting most ads on the forums many years ago. We hope you appreciate our efforts.

Show your support by donating any amount. (Note: We are still technically a for-profit company, so your contribution is not tax-deductible.) PayPal Acct: Feedback:

Donate to VoyForums (PayPal):

[ Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1, [2] ]

Subject: Wal-Mart Grosses $2.29B in 3Q Earnings Author: ePEOPLE [ Next Thread | Previous Thread | Next Message | Previous Message ] Date Posted: 20:26:17 11/16/04 Tue Wal-Mart Grosses $2.29B in 3Q Earnings By CHUCK BARTELS The Associated Press Tuesday, November 16, 2004; 4:49 PM LITTLE ROCK, Ark. - Wal-Mart Stores Inc., the world's largest retailer, met Wall Street expectations with a 12.7 percent rise in its third-quarter earnings Tuesday and bumped up its own projection for the full year's profit. Wal-Mart said it earned $2.29 billion, or 54 cents a share, the August-October period, up from $2.03 billion, or 46 cents a share, in the same period a year ago. Overall revenue including net sales and other income rose to $69.26 billion, up from $63.04 billion a year earlier. Analysts surveyed by Thomson First Call projected the company would earn 54 cents per share. In a conference call, Wal-Mart raised its earnings outlook for the full year to a range of $2.39 to $2.41 a share and offered a fourth-quarter earnings estimate of 73 cents to 75 cents a share. Previously, the company had forecast annual earnings of between $2.34 and $2.38 per share. Analysts already expected earnings of 74 cents a share for the fourth quarter and $2.40 a share for the year. Wal-Mart shares fell 81 cents, or 1.4 percent, to close at $56.89 a share on the New York Stock Exchange. It is trading midway between its 52-week range of $50.50 and $61.31 a share. The company saw its margins shrink in its Wal-Mart division, pressured by the same forces that other companies struggle with - higher labor, health insurance, utilities, fuel and accident costs. "That's the question mark and probably why the stock sold off afterward," said analyst Sarah Henry of John Hancock Funds in Boston. "They have a way to move gross margins and make up some of the difference flowing to the bottom line." But health care and the other costs the company cited are higher for corporations to manage, she said. Wal-Mart president and chief executive Lee Scott has long complained about higher fuel prices pressuring low-income consumers, but said Tuesday that things were looking up. "The economy continues to improve and we are well positioned for the holidays," Scott said. http://www.washingtonpost.com/wp-dyn/articles/A54712-2004Nov16.html [ Next Thread | Previous Thread | Next Message | Previous Message ]