Wal-Mart issues China progress report (WMT 2Q05 conf call quotes)

SVP Jay Fitzsimmons had the following to say about Wal-Mart's (ticker: WMT)  China operations during management's Q2 2005 earnings results conference call:

....In China, sales were up over 20% and comps were up in the high single digits. Three new Supercenters were added in the quarter. The total number of stores at the end of the second quarter was 48. China has opened seven new Supercenters this year. For the quarter, China's profitability exceeded its operating plan. We continue to pursue an aggressive growth plan in China.

(Quotes are from the CCBN StreetEvents transcript.)

WMT chart.

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