Wal-Mart profits up 6.3 percent, top forecasts

[The Straight Story]

Wal-Mart profits up 6.3 percent, top forecasts
May 16 10:14 AM US/Eastern

Wal-Mart Stores, the world's biggest retailer, have reported a profit of 2.615 billion dollars in the first quarter, up 6.3 percent from a year ago.

The profit amounted to 63 cents a share, two cents ahead of Wall Street forecasts.

Revenues grew 12 percent to 8.47 billion dollars, also ahead of analyst estimates.

"We are very pleased with our start to this fiscal year. We continued to have record sales and earnings and our inventory performance was the best we have seen in many quarters," Lee Scott, Wal-Mart president and chief executive officer, said Wednesday.

"The success of this quarter was the result of our focus on three goals: driving sales, reducing costs and improving inventory management."

http://www.breitbart.com/news/2006/05/16/060516141357.804972ya.html

[waiting for hope]

1. "reducing costs"......

Attention All Managers! Bus from Mexico just pulled up!.....how many times have they been fined for hiring illegals?

On Edit: Added link..http://money.cnn.com/2003/10/23/news/companies/walmart_worker_arrests/

[prolesunited]

2. Reducing costs

by making all taxpayers share the burden for you underpaying your workers in the form of increased Medicare and food stamp costs so you can record huge profits.

Stay away from Wal-Mart!

[tandot]

3. It wasn't me - I swear.

I am changing my shopping habits and am trying to stay away from Walmart as much as possible. It must have been almost a month since I was there the last time.