1:45PM New York – same store sales for the fiscal year at Wal-Mart domestic locations declined. Fourth quarter sales crossed $100 billion sales, record quarterly sales.

Wal-Mart Stores, Inc. (WMT: chart) reported net sales for the fourth quarter of fiscal year 2008 ending on Jan 31, 2008 were $106.269 billion, an increase of 8.3% from a year ago.

Fourth Quarter Review

Income from continuing operations for the quarter was $4.096 billion, an increase of 4.0% from $3.940 billion from a year ago.

Diluted earnings per share from continuing operations for the fourth quarter were $1.02, up 7.4% from $0.95 per share in the same prior year quarter, including a net charge of approximately $0.02 per share for certain items this year.

These items included charges of $0.03 for approximately $70 million in after-tax expenses for dropped U.S. real estate projects and an after-tax restructuring charge of $32 million in the Company''s Japan operations, and a $0.01 benefit from the recognition of approximately $38 million in after-tax gains from the sale of certain real estate properties.

Wal-Mart in Japan has struggled for many years and failed to convince local customer that it offers a better value.

Net sales in the quarter increased at Wal-Mart Stores by 5.0%, at Sam’s Club by 6.3%, and at international locations by 18.8%.

Annual Review

Net sales for the fiscal year ended Jan. 31, 2008 were $374.526 billion, an increase of 8.6% over fiscal year 2007.

Income from continuing operations for the fiscal year increased 5.8% to $12.884 billion, up from $12.178 billion in the prior year.

Diluted earnings per share from continuing operations for the fiscal year were $3.16, up 8.2% from $2.92 in the prior year.

Net sales at Wal-Mart Stores increased 5.8%, Sam’s Club rose 6.7%, and in international segment surged 17.5% in the fiscal year.


''For the fourth quarter, we topped $100 billion in sales, the first time in history that any retailer has reached this milestone in a single quarter,'' said Lee Scott, Wal-Mart Stores, Inc. president and chief executive officer.

''We had a very strong underlying operating performance, exceeding our expectations for the quarter. In addition to another year of record sales and earnings, we also delivered a record return to our shareholders this year through more than $11 billion in share repurchase and dividends.''


Comparable same-store sales

Same store sales at domestic location in the quarter, not counting fuel sales, increased 1.6% at Wal-Mart stores compared to 1.3% in the prior year, at Sam’s Club increased 2.5% compared to 3.1% a year ago, and across all the U.S. locations increased at 1.7% compared to 1.6% in the prior year.