Wal-Mart’s third quarter results indicate that its international division, which includes Asda, had another good quarter with sales up by 18% to $13.6bn compared to the same quarter last year.
Operating profits for the quarter for its international division were $698m, up 23.8% over the same period last year.
Specifically in the UK, Asda’s sales grew but operating profits grew faster than sales. Newspaper reports indicate that its sales may be experiencing a slowdown, with The Times stating sales rose 4% this quarter compared with 8% the previous quarter.
The company said its strongest performance was recorded in general merchandise, with Asda now selling one out of every four DVD players in the UK.
Asda’s George clothing brand maintained its number one position in market share measured by volume by Fashiontrak. It has also recently opened its sixth George Standalone trial store and the first Asda Living trial store, which has already recorded sales above expectations.
Wal-Mart reported strong overall sales results of $68.5bn for its third quarter ended October 31, with an increase of 9.7% over the third quarter for the previous year.
Lee Scott, president and ceo, said: “I am please to report another record quarter of sales and earnings. The economy continues to improve and we are well positioned for the holidays. With the help of our associates, I look forward to another record quarter and a successful holiday season.”
Operating profits for the quarter for its international division were $698m, up 23.8% over the same period last year.
Specifically in the UK, Asda’s sales grew but operating profits grew faster than sales. Newspaper reports indicate that its sales may be experiencing a slowdown, with The Times stating sales rose 4% this quarter compared with 8% the previous quarter.
The company said its strongest performance was recorded in general merchandise, with Asda now selling one out of every four DVD players in the UK.
Asda’s George clothing brand maintained its number one position in market share measured by volume by Fashiontrak. It has also recently opened its sixth George Standalone trial store and the first Asda Living trial store, which has already recorded sales above expectations.
Wal-Mart reported strong overall sales results of $68.5bn for its third quarter ended October 31, with an increase of 9.7% over the third quarter for the previous year.
Lee Scott, president and ceo, said: “I am please to report another record quarter of sales and earnings. The economy continues to improve and we are well positioned for the holidays. With the help of our associates, I look forward to another record quarter and a successful holiday season.”
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