Walmart Inc. of Bentonville (NYSE: WMT) on Thursday reported $572.8 billion in revenue for its fiscal year that ended Jan. 31, up 2.4% from last year.
The publicly traded retailer also reported net income of $13.7 billion for the fiscal year, an increase of 1.2% from the previous year.
Its fourth-quarter revenue was $152.9 billion, a slight increase of 0.5% from the same quarter last year. It reported a net income of $3.56 billion, or $1.53 adjusted earnings per share, during the quarter, up from a loss of $2.1 billion in the same quarter last year.
Walmart U.S. same-store sales were up 6.4% for the year. Same store sales are an indicator of a retailer’s health because it compares sales of a company's stores that have been open for at least a year.
Walmart’s international net sales, however, fell by 16.8% during the year.
Its ecommerce sales increased by 11% during the year, but the company doesn’t report what those sales are.
Walmart’s board approved an annual cash dividend on Thursday for its current fiscal year of $2.24 per share, a slight increase from the $2.20 per share paid during the previous fiscal year.
Walmart also projects it will have a good 2022. Walmart’s guidance for U.S. same-store sales for its current fiscal year is slightly higher than 3%. It projects net sales and operating income to grow by 3%.
Walmart said it plans to spend between 2.5% to 3% of its net sales on capital expenditures that will include its supply chain, automation and technology.
“We had another strong quarter to finish off a strong year,” Doug McMillon, Walmart’s president and CEO, said in a news release. “We have momentum in our business in all three segments. We’re being aggressive with our plans and executing on the strategy.”