NEW YORK – Both Wal-Mart Stores Inc. and Federated Department Stores on Thursday posted fourth-quarter results that were better than analysts had expected.
You May Also Like
Wal-Mart bested consensus estimates by 3 cents, with net income rising 13 percent to $3.59 billion, or 86 cents a share, from $3.16 billion, or 75 cents, in the same year-ago quarter. Revenues gained 8.7 percent to $90.13 billion from $82.90 billion, which included a retail sales increase of 8.6 percent to $89.27 billion from $82.13 billion. Same-store sales for the company rose by 3.1 percent, with comps at Wal-Mart Stores up by 2.7 percent.
Federated said its fourth-quarter net income rose by 58.9 percent to $699 million, or $2.52 a diluted share, from $440 million, or $2.55, a year ago. The company’s results included the contribution from May Department Stores, which Federated acquired on Aug. 30, 2005. Sales for the retailer rose 86.9 percent to $9.57 billion from $5.12 billion, while comps rose 1.1 percent.
For complete coverage, see tomorrow’s WWD.