Wal-Mart Up After Q1 Earnings Report

Today Wal-Mart WMT reported FY 11 Q1 earnings exceeding guidance and first call consensus. Shares of WMT are currently trading at $53.50, up 01.46%. EPS was reported three cents above estimates, at $0.88. Net sales, 6% above estimates, was reported at $99.1B. In addition, Wal-Mart Intl. net sales were up 8.9 percent to $22.5B In Q1, Wal-Mart added 3.6M sq/ft of retail space and expects strong numbers of new store openings in Q2 and Q3 "Wal-Mart kicked off the fiscal year with record first quarter net sales and earnings, and I'm pleased that earnings exceeded guidance," said Mike Duke, Wal-Mart Stores, Inc. president and CEO. "Our customers, particularly in the US, are still concerned about their personal finances and unemployment, as well as higher fuel prices," Duke added. "Our commitment to reducing prices and managing expenses positions us well across the retail landscape."