|
October 7th 2005 - Source: AFX International Focus at Lexis Nexis
CHICAGO (AFX) -- The killer storms that ravaged New Orleans and the Gulf Coast won't keep Wal-Mart Stores from meeting its third-quarter earnings target, although their impact will nip a penny a share off the retail giant's bottom line.
Early Thursday, Wal-Mart reiterated its outlook calling for earnings of 55 cents to 59 cents a share but said Hurricanes Katrina and Rita led to cash and merchandise contributions and additional associate, logistics and operational costs.
At the same time, Wal-Mart said September's same-store sales rose 3.8%, while total sales rose nearly 10% to $28.2 billion. Sales at its namesake stores rose 8.4%, while the Sam's Club wholesale division raked in 11.6% more and international stores grew sales 12.7%.
The company added that it sees October same-store sales rising by 2% to 4%.
Shares of Bentonville, Ark.-based Wal-Mart, a Dow Jones Industrial Average component, rose 1.4% to $44.09 in morning action.
.
|
