Walmart

BENTONVILLE, Ark. — Walmart reported first-quarter earnings that were above the company's guidance, reflecting stability and strength in global operations, according to president and CEO, Mike Duke.

Walmart's net income was $3.4 billion, or 98 cents per diluted share, compared with net income of $3.3 billion, or 87 cents per diluted share. 

Bentonville, Ark. -- Wal-Mart Stores reported Tuesday that net income for the first quarter ended April 30 rose 3% to $3.39 billion, beating Wall Street estimates. Overall results were powered by overseas stores and stringent cost controls, but business in the United States remains soft as U.S. Walmart stores posted an eighth straight quarter of same-store declines.

Wal-Mart's U.S. division recorded a 0.3% dip in same-store revenue, dragged down by a 1.1% drop at its namesake stores. Same-store sales increased 4.2% at Sam’s Club warehouse stores.

Belfast, Ireland -- A report in the Belfast Telegraph Tuesday said that Wal-Mart-owned supermarket chain Asda has released plans to open its first George stores overseas as it looks to turn the fashion label into a global retail brand.

The chain has set up a team at George's Lutterworth, Leicestershire base to explore entering into franchise arrangements for the first time. According to the report, George expects to announce its first partner in the Middle East in the next few months, followed by store openings in the first half of 2012.

LONDON — Wal-Mart Stores' Asda division Asda confirmed that it was exploring opportunities to franchise its George at Asda range in markets overseas.

The company expects to announce its first overseas franchising partner in the next few months with the intention of establishing a small number of pilot stores in the Middle East in the first half of 2012.

George currently accounts for around half of Asda’s general merchandise sales and is already a growing global brand through Walmart stores in seven countries worldwide, the company reported.

An increase promotional efforts in April contributed to Target’s 13.1% monthly same store sales gain, according to new data from the promotional intelligence firm Market Track.

New York City -- Retail real estate columnist Jeff Green has unveiled his newest opine on Chain Store Age’s real estate community website, discussing the impact – both positive and negative – that reducing a store footprint could have on a store’s brand.

I’m not sure if you’ve noticed, but it seems like you can’t pick up a paper or click a mouse lately without reading about some big box retailer rolling out its smaller store format. Target has its new 60,000-square-foot CityTarget concept, while Walmart has Walmart Neighborhood Market and Walmart Express stores. It seems like everyone is downsizing.

New York City -- Wal-Mart Stores may give up its quest to buy a controlling stake in South Africa’s Massmart Holdings Ltd., if South Africa forces local procurement conditions on the retailers, the companies said, the Associated Press reported.

Many Walmart shoppers happen to be NASCAR fans, so it makes sense that the retailer would host exclusive events around big races in key markets.

In Charlotte, N.C., and Dover, Del., select Walmart stores will offer customers the chance to check out racing simulator machines and stock car displays and enjoy special driver appearances throughout the month of May.

Turns out Shakespeare’s famous line, “A rose by any other name would smell as sweet,” doesn’t quite fit with every scenario. Case in point, Wal-Mart Stores, which, according to Millward Brown Optimor’s BrandZ ranking of the top 20 global retail brands, saw its brand value diminish when it decided to rename its Wal-Mart stores, Walmart.