Wal-Mart Paid $2B in Bonuses, Continues Strong Growth

The world’s largest retailer, Wal-Mart, has released new annual bonus figures today. Wal-Mart said it paid out about $2 billion to its U.S. hourly employees through various financial incentives, which included $933.6 million in cash bonuses, $788.8 million in profit sharing, merchandise discounts, 401(k) contributions, employee stock options, among other incentives.

Last year, Wal-Mart handed out $1.2 billion in financial bonuses.

Wal-Mart has been able to do this given strong growth despite a global economic downturn. Same-store sales were up 3.3% in the last fiscal year ending Jan 31, 2009. Total sales during that same period were up significantly by 7.2% to $401.24 billion.

More and more people are going to Wal-Mart today to save on purchases given massive job losses and high mortgage payments that become due. Wal-Mart said today it plans to further cut prices including specifically on glasses and contact lenses, among other merchandise.

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Hercules holds a B.Comm Finance from Ryerson University in Toronto, Canada. He is a Chartered Financial Analyst (CFA) level 3 candidate. He was previously a contributor at FiLife, a finance website owned by Dow Jones and IAC. Write to [email protected]
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