Wal-Mart Breaks Q3 Records

Bentonville, Ark., Wal-Mart Stores posted record third quarter sales and earnings for the quarter ended Oct. 31. Net income rose to $2.29 billion, up from $2.03 billion in the same quarter last year. Net sales were $68.5 billion, an increase of 9.7% over the third quarter of fiscal 2004. Income from continuing operations for the quarter was $2.3 billion, an increase of 12.7% from $2.0 billion in the third quarter of fiscal 2004. Total U.S. comparable sales for the quarter increased 1.7 percent, which is represented by a 1.3 percent comp increase for Wal-Mart Stores and a 4.0 percent comp increase for Sam's Club.

Lee Scott, President and CEO said, "I am pleased to report another record quarter of sales and earnings. The economy continues to improve and we are well positioned for the holidays."