10-Q 1 wmt3q08.htm WAL-MART STORES, INC. QUARTERLY REPORT wmt3q08.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
x            Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
For the quarterly period ended October 31, 2007.

or

¨            Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

For the transition period from __________ to __________.

Commission file number 1-6991


WAL-MART STORES, INC.
(Exact name of registrant as specified in its charter)

Delaware
71-0415188
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
 
702 S.W. 8th Street
Bentonville, Arkansas
72716
(Address of principal executive offices)
(Zip Code)
(479) 273-4000
(Registrant’s telephone number, including area code)

Not applicable
(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or such shorter periods that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yesx No¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer (See definition of “accelerated filer and large accelerated filer” as defined in Rule 12b-2 of the Exchange Act).   Check One:

Large Accelerated Filer   x                                                      Accelerated Filer  ¨                                            Non-Accelerated Filer   ¨

Indicate by a check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes¨ Nox

Applicable Only to Corporate Issuers

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practical date.
Common Stock, $.10 Par Value – 4,004,809,178  shares as of November 23, 2007.


PART I. FINANCIAL INFORMATION
Item 1. Financial Statements

WAL-MART STORES, INC. AND SUBSIDIARIES
  
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
  
(Unaudited)
  
(Amounts in millions except per share data)
  
 
  
 
    
 
    
 
    
 
  
 
  
Three Months Ended
    
Nine Months Ended
  
 
  
October 31,
    
October 31,
  
 
  
2007
    
2006
    
2007
    
2006
  
Revenues:
  
 
    
 
    
 
    
 
  
Net sales
   $
90,880
     $
83,543
     $
268,257
     $
246,902
  
Membership and other income
    
1,069
      
924
      
3,114
      
2,670
  
     
91,949
      
84,467
      
271,371
      
249,572
  
 
                                
Costs and expenses:
                                
Cost of sales
    
69,292
      
63,765
      
205,192
      
188,587
  
Operating, selling, general and administrative expenses
    
17,685
      
16,237
      
51,064
      
46,920
  
Operating income
    
4,972
      
4,465
      
15,115
      
14,065
  
 
                                
Interest:
                                
Debt
    
474
      
434
      
1,326
      
1,188
  
Capital leases
    
63
      
55
      
174
      
192
  
Interest income
     (78 )     (65 )     (243 )     (196 )
Interest, net
    
459
      
424
      
1,257
      
1,184
  
 
                                
Income from continuing operations before income taxes and minority interest
    
4,513
      
4,041
      
13,858
      
12,881
  
 
                                
Provision for income taxes
    
1,557
      
1,363
      
4,765
      
4,388
  
Income from continuing operations before minority interest
    
2,956
      
2,678
      
9,093
      
8,493
  
Minority interest
     (99 )     (84 )     (305 )     (254 )
Income from continuing operations
    
2,857
      
2,594
      
8,788
      
8,239
  
Income (loss) from discontinued operations, net of tax
    
-
      
53
       (153 )     (894 )
Net income
   $
2,857
     $
2,647
     $
8,635
     $
7,345
  
 
                                
Net income per common share:
                                
Basic income per common share from continuing operations
   $
0.71
     $
0.62
     $
2.15
     $
1.98
  
Basic income (loss) per common share from discontinued operations
    
-
      
0.01
       (0.04 )     (0.22 )
Basic net income per common share
   $
0.71
     $
0.63
     $
2.11
     $
1.76
  
 
                                
Diluted income per common share from continuing operations
   $
0.70
     $
0.62
     $
2.14
     $
1.97
  
Diluted income (loss) per common share from discontinued operations
    
-
      
0.01
       (0.03 )     (0.21 )
Diluted net income per common share
   $
0.70
     $
0.63