Wal-Mart to Carry Palm Pres: WSJ

The Wall Street Journal is reporting that contrary to reports, Best Buy will not have retail exclusivity on the Palm Pre as many have reported. Instead, Wal-Mart will also sell the expected-to-be-hot new device. The tidbit of information comes from a story that focuses on Wal-Mart's plans to fill the gap left by the closure of Circuit City, battling it out with the likes of Best Buy and Amazon.com.

Wal-Mart already sells Apple's iPhone, the smartphone that the Palm Pre has directly in its sights, but recent reports have indicated that Wal-Mart sales have not lived up to expectations.

The recession certainly has not helped, although Wal-Mart has not been badly hit. Last Thursday, Wal-Mart posted its earnings for fiscal Q1 2010 ended April 30th, announcing net income of $3.14 billion, or $0.77 per diluted share. For the year-earlier period, Wal-Mart’s net income was also $3.14 billion, or $0.76 cents per diluted share. Analysts had estimated earnings of $0.77 per diluted share, so Wal-Mart was on target.

Additionally, Wal-Mart generated net sales of $93.47 billion, a 0.6% decline from year-over-year, down from $94.04 billion. Sales in the U.S. were $61.24 billion, 3.8% percent year-over-year, up from $58.90 billion.