Wal-Mart Stores, Inc.
Industry: Retail (Department & Discount)

Wal-Mart Stores, Inc., operates more than 2,800 discount stores,Supercenters and Neighborhood Markets, and more than 500 SAM'S CLUBS in the United States.

Business Summary
Wal-Mart Stores, Inc. (Wal-Mart) operates retail stores in various formats worldwide. The Company organizes its business into three principal segments: Wal-Mart Stores, SAM'S CLUB and International. The Wal-Mart Stores segment is the largest segment of Wal-Mart's business, accounting for 67.3% sales during the fiscal year ended January 31, 2005 (fiscal 2005). The segment consists of three different retail formats, all of which operate in the United States. The Company's SAM'S CLUB segment consists of membership warehouse clubs that operate in the United States, and accounts for 13% of fiscal 2005 sales. The international segment consists of retail operations in eight countries and Puerto Rico, and generated 19.7% of Wal-Mart's fiscal 2005 sales. In addition, the Company owns an unconsolidated minority interest of approximately 37% of The Seiyu, Ltd., a retailer in Japan.

Financial Summary
Wal-Mart Stores, Inc. operates discount department stores, warehouse membership clubs and superstores. For the 6 months ended 7/31/05, revenues rose 10% to $149.2B. Net income rose 9% to $5.27B. Revenues reflect the results from expansion programs and an increase in same store sales. Net income was partially offset by an increase in cost of sales and higher selling, general, and administrative expenses.