Wal-Mart Stores, Inc. (NYSE: WMT) today reported its sales and earnings for the quarter ended April 30, 2008. Net sales for the first quarter of fiscal year 2009 were approximately $94.1 billion, an increase of 10.2 percent over $85.4 billion for the first quarter of fiscal year 2008. Net income for the quarter was $3.022 billion, an increase of 6.9 percent from $2.826 billion in the first quarter of fiscal year 2008. Diluted earnings per share for the first quarter of fiscal year 2009 were $0.76, up from $0.68 per share in the same prior year quarter.

"We're off to a solid start, with record first quarter sales and earnings," said Lee Scott, Wal-Mart Stores, Inc. president and chief executive officer. "We continue to deliver against the business model that Sam Walton started -- selling branded merchandise for less. Our business is even more relevant to our customers today, given the current economic pressures."

Price leadership, better customer service and operational improvements remained the primary drivers of sales growth worldwide, even in light of economic headwinds caused by higher energy costs and food inflation.

"Our customers appreciate that Wal-Mart is the consistent price leader," Scott added. "We continue to make progress in delivering on our mission of saving people money so they can live better."

Guidance

"For the second quarter of fiscal year 2009, we estimate the Company's comparable store sales increase in the United States to be between flat and two percent. As we have discussed, it is currently difficult to quantify the impact on U.S. sales from the stimulus payments," said Tom Schoewe, Wal-Mart Stores, Inc. executive vice president and chief financial officer. "We expect the Company's earnings per share for the second quarter to be between $0.78 and $0.81. As a reminder, last year's second quarter results included a net benefit of approximately $0.04 per share from the impact of a reduction of general liability and workers' compensation claims accruals, gains from the sale of certain real estate properties somewhat offset by charges for legal and other contingencies."

After this earnings release has been furnished to the SEC, a pre-recorded call offering additional comments on the quarter will be available to all investors. Callers may listen to this call by dialing 203-369-1090. The information included in this release and the pre-recorded phone call are available in the investor information area on the Company's Web site at http://www.walmartstores.com/investors.

Wal-Mart Stores, Inc. operates Wal-Mart discount stores, supercenters, Neighborhood Markets and Sam's Club locations in the United States. The Company operates in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico and the United Kingdom. The Company's common stock is listed on the New York Stock Exchange (NYSE) under the symbol WMT.

More information about Wal-Mart can be found by visiting http://www.walmartstores.com/investors.