Wal-Mart Q1 Earnings Up 6.9%
But what’s interesting is Wal-Mart’s sales of flat-panel TVs have also grown dramatically. The retailer has recorded as much as triple-digit increases in certain months during this downturn, a much quicker pace than its consumer electronics competitors at Best Buy (BBY) and Circuit City (CC). Those sales added nicely to the top and bottom line in the first-quarter results the world’s largest retailer announced on May 13. Net income for the three months ended Apr. 30 was up 6.9%, to $3.02 billion, on revenues of $94.1 billion, a 10.2% increase.
May 13, 2008
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