Pulled by Brazil and China, Walmart profit grows 24% in Q4
Folha de S. Paulo
The American retail chain Walmart registered growth of 24% in its profit in the fourth fiscal quarter, ended on January 31. The company attributed the result to the opening of new stores in Brazil and China and to the good performance in the United Kingdom and Mexico. "The prospects for growth in Brazil and China give us confidence to build more based on what we have already made", said the company, in a meeting. In the USA, however, its quarterly sales fell for the first time compared to the same period of a year earlier, an alert that the space gained during the crisis may be gained back by its competitors.
Last year, the company recorded profit of US$ 14.4 billion - an 8.8% increase compared to 2008. The sales in the last quarter, however, had growth of 4.6%, to US$ 112.8 billion, against a 5% expectation of increase. In the same stores - open for at least a year -, sales fell 1.6% compared to the same quarter of 2008.
In 2009, Walmart sales grew 1%, to US$ 405 billion. In Brazil, the chain opened 61 stores in the fourth quarter - there were 91 in the fiscal year. The real sales in Brazil increased 14.6% in the last three months of the year. Not counting the new stores, the progress in the country was 5.6%.