Walmart Income Statement

Analysis of Wal-Mart Income Statement 2009-2011

Broad Overview

Wal-Mart operates retail stores classified into the three categories of Walmart U.S., Walmart International, and Sam's Club. International sales account for 26% of net sales, while Sam's Club is just 11.8% (Walmart, 2012, p. 17). An initial perusal of Wal-Mart's income statement evidences the staggering scale of its retailing operations. In 2011, revenues from both retail receipts and club memberships rose 4.3%, over 2009 figures, to nearly 422 billion (USD). Operating income demonstrates a steady incremental increase reflective of consistent management and cost control practices. Lastly, the income from continuing operations reflects a consistent incremental increase with each passing year.

Based upon a general overview of the Walmart income statement, it appears that the firm is financially healthy and consistently capturing accounting profits. Review of the accompanying notes reveals that Walmart does not include the costs of their warehouse...
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