Home | China | World | Business U.S. Retailer Giant Reports Record Sales in 2001 WED, FEB 20, 2002     U.S. retailer giant Wal-Mart Stores reported on Tuesday record earnings and sales for the 2001 fiscal year that ended on January 31, 2002, thus becoming the world's largest retailer company in terms of sales. Wal-Mart's full-year net sales totaled 217.8 billion U.S. dollars, up 13.8 percent over the 2000 fiscal year, exceeding the 213-billion-dollar annual earnings of Exxon Mobil Corp. in 2001, the retailer said in its reports. The company's operating profit for the 2001 fiscal year was 10.3 billion dollars, up 6 percent over the previous fiscal year. Among the 10.3 billion dollars, an 13 percent increase of 1.46 billion dollars came from about 35.5-billion-dollar sales abroad. The retailer giant, with more than 1.38 million employees both at home and abroad, now operates 3,244 stores in the United States and another 1,170 stores abroad. Market analysts say Wal-Mart actually expanded its share in the U.S. market by low-priced goods amid the economic recession, attracting customers from department stores, grocery stores and other retailers that sell full-priced products. Its competitive prices even draw customers from other discounters. Kmart, Wal-Mart's rival, filed a voluntary Chapter 11bankruptcy petition on January 22 after weak holiday sales and intense competition from Wal-Mart and other U.S. discounters. Editor:casey Source:Xinhua Recommend to your friend email:    China Central Television,All Rights Reserved