Wal-Mart Stores Inc. (NYSE: WMT) said Tuesday that its fiscal first-quarter profit rose to $3.4 billion, or 97 cents a share, from $3.3 billion, or 87 cents, in the prior-year quarter. Revenue increased 4.4% to $103.4 billion. Analysts, on average, expected Wal-Mart to earn 94 cents a share on revenue of $102.8 billion.
Walmart U.S. comparable store sales declined 1.1 percent in the 13-week period ended April 29, 2011, approximately the mid-point of guidance. Sam's Club comparable sales, without fuel, increased 4.2 percent for the same period, which was 120 basis points above guidance.
The company expects second quarter fiscal 2012 diluted earnings per share from continuing operations to range between $1.05 and $1.10, compared to last year's reported EPS of 97 cents. These estimates assume that currency exchange rates remain at current levels.
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