- Wal-Mart Stores Inc. said this morning that its October sales at stores open at least one year rose 3.7 percent, and that net sales in the four-week period ended Nov. 1 were $18.497 billion, up 11.3 percent from the year-ago period.
Wal-Mart had said it expected same-store sales growth between two and four percent.
- Dow Jones reported that Belgian retailer Delhaize Freres et Compagnie-Le Lion SA’s third quarter sales weren’t as badly affected by a tough U.S. market and a weaker dollar as expected.
Total sales fell 7.5 percent to the equivalent of about $5 billion (US), from about $5.5 billion during the same period a year ago; analysts had expected an 8.5 percent drop. While US sales dropped about two percent, the company said that most of that was in its Food Lion and Kash n’ Karry divisions, which are more affected by Wal-Mart, while Hannaford Bros. performed up to expectations.
- Costco Wholesale Corp. reported that total sales for the four-week period ended November 3 reached $3.01 billion, up 6 percent from the $2.83 billion in the same period last year.
- Dean Foods Company posted net income for the third quarter of $68.7 million, an increase of 134% versus $29.4 million in the third quarter of 2001. Third quarter net sales totaled $2.3 billion, an increase of 48% over the third quarter of 2001. Pro forma net income for the third quarter grew 89% to $71.8 million compared with pro forma net income of $37.9 million in the third quarter of 2001; third quarter operating income was $169.0 million versus $98.2 million in the third quarter of 2001, an increase of 72%.
- Dole Food Co. posted earnings of $14.7 million in the third quarter, compared with a loss of $94.8 million a year earlier. Revenue rose four percent to $1.25 billion.