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Retail

Wal-Mart (WMT): It’s Beginning To Look At Lot Like Christmas

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By Douglas A. McIntyre Updated Published
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Wal-Mart (NYSE:WMT) beat Wall St. expectations for earnings and revenue.

Perhaps more important, it indicated that the fourth quarter would be OK. The Christmas retail season just began to look a bit better.

Wal-Mart reported diluted earnings per share from continuing operations for the third quarter of fiscal year 2010 of $0.84, exceeding the company’s guidance of $0.78 to $0.82. Walmart earned $0.77 per share from continuing operations in the third quarter last year. Net sales for the third quarter were $98.667 billion, an increase of 1.1 percent from $97.619 billion in the third quarter last year.

International and Wal-Mart sales grew during the period. Sam’s Club revenue dropped slightly. Comparable store sales were up a fraction

Wal-Mart’s CFO Tom Schoewe said, “Based on our view of the business, we expect diluted earnings per share from continuing operations for the fourth quarter of fiscal year 2010 to be between $1.08 and $1.12. As a result, we are raising the range of our guidance for diluted earnings per share from continuing operations for the full fiscal year to $3.57 to $3.61, from $3.50 to $3.60.”

Fourth quarter retail is either going to be better than expected or Wal-Mart’s market share is going to crush those of its rivals.

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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