Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Wal-Mart Stores, Inc.    WMT

Delayed Quote. Delayed  - 07/29 10:01:22 pm
72.97 USD   -0.37%
02:19a WAL MART STORES : 3 Wal-Mart employees charged in suspected shoplift..
07/29 WAL MART STORES : Brand New Sam’s Club to Open in Milwaukee Th..
07/29 WAL MART STORES : Saddle brook center all filled up again
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Wal-Mart Stores, Inc. : Wal-Mart 1st-Quarter Net Up 1.1% on Modest Sales Rise

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/16/2013 | 02:41pm CEST

--First quarter earnings were relatively flat

--Same-store U.S. sales fall 1.4%

--Second quarter expected to be challenging

By Karen Talley and Saabira Chaudhuri

Wal-Mart Stores Inc.'s (WMT) fiscal first-quarter earnings rose 1.1% as the world's largest retailer reported slightly stronger revenue amid continued challenges for its lower-income customers.

Same-store sales at namesake U.S. stores fell for the first time in seven quarters amid what the company said was a delay in income tax refund checks, challenging weather conditions, less grocery inflation than expected and the payroll tax increase.

"We didn't have the first quarter performance we wanted as a company," Wal-Mart Chief Executive Mike Duke said on a conference call.

The second quarter may also be a bit rough. Chief Financial Officer Charles Holley said while the company will grow sales faster than expenses this year, the second quarter will be "challenging," given expense pressures in the international and corporate segments. "Expense leverage may not be delivered evenly across the quarters, but we believe that by executing our plans, we will continue to reduce expenses and improve productivity," he said.

U.S. same-store sales showed a 1.4% decline in the fiscal first quarter, when Wal-Mart in February forecast flat comparable-store sales. "When we provided flat comp guidance for the first quarter, we had expected among other things, to recover a reasonable portion of tax refunds, and had also assumed that customers would follow historical spending patterns with these funds," said Wal-Mart U.S. Chief Executive Bill Simon. "This did not materialize as we had anticipated."

Also, weather-sensitive departments including apparel were hurt by cool temperatures, Mr. Simon said.

Same-store sales excluding fuel at its Sam's Club warehouse clubs, meanwhile, edged up 0.2%. Wal-Mart had predicted same-store club sales excluding fuel between flat and up 2%.

Core customers of Wal-Mart generally have been grappling with less money, living paycheck to paycheck. In response, Wal-Mart has made modifications like going with smaller packaging and less expensive products. The retailer also recently announced plans to expand its ecommerce services this summer by placing lockers in stores for customers to pick up items they ordered from the company online.

Despite recent challenges to its core lower-income customers, strong expense-control efforts have helped the company's margins while increased austerity measures in Europe have benefited international sales. Mr. Duke nonetheless said he was "disappointed in our expense control in international."

Ahead of Wal-Mart's report, analysts at Barclays said they are "impressed with the company's disciplined expense management" and pointed to Wal-Mart's "defensive positioning, especially with the macro uncertainty," and its existing strategies being deployed the U.S. segment to improve same-store sales and traffic.

For the quarter, Wal-Mart reported a profit of $3.78 billion, or $1.14 a share, versus $3.74 billion, or $1.09 a share, a year earlier. The company's February forecast called for earnings of $1.11 to $1.16 a share. Analysts expected $1.15 a share.

Revenue rose 1% to $114.19 billion, missing the $116.29 billion expected by analysts polled by Thomson Reuters.

International sales rose 2.9% to $33 billion, or 5.4% on a constant currency basis.

Input costs rose 1%.

Looking ahead, the company forecast earnings of $1.22 to $1.27 a share for its current quarter, below the $1.29 per-share profit currently expected by analysts.

Earlier this week, Wal-Mart declined to sign on to a legally-binding pact meant to prevent disasters like the Bangladesh building collapse that killed more than 1,100 garment workers last month. Instead the retailer unveiled its own plan for improving safety at Bangladesh garment factories, saying it would hire an outside auditor and require factory owners to renovate when needed or risk being removed from its list of authorized factories.

Shares fell 2% to $78.25 in recent premarket trading. The stock has risen 35% in the past 12 months.

Write to Saabira Chaudhuri at saabira.chaudhuri@dowjones.com

Order free Annual Report for Wal-Mart Stores, Inc.

Visit http://djnweurope.ar.wilink.com/?ticker=US9311421039 or call +44 (0)208 391 6028

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on WAL-MART STORES, INC.
02:19a WAL MART STORES : 3 Wal-Mart employees charged in suspected shoplifter's death
07/29 WAL MART STORES : Brand New Sam’s Club to Open in Milwaukee Thursday
07/29 WAL MART STORES : Saddle brook center all filled up again
07/29 DOLLAR GENERAL : moving into some former Walmart Express stores
07/29 WAL MART STORES : Ruidoso Downs store answers the call of red or green
07/28DJCarrefour Posts Sharp Fall in Net Profit
07/28DJCarrefour Sales Growth Slows -- Update
07/28 WAL MART STORES : Walmart agreement brings free sewer system to Sutton
07/28DJCarrefour 2Q Comparable Sales +2.6%; Will Continue to Expand This Year
07/28 WAL MART STORES : Planned grocery store has the look of the Lidl chain
More news
Sector news : Other Specialty Retailers - NEC
07/26DJLVMH : Profit Was Flat in First Half
07/22DJDICKS SPORTING GOODS : Sports Authority Creditors Seek to Convert Bankruptcy Cas..
07/22DJL'Oré al to Acquire IT Cosmetics in $1.2 Billion Deal
07/21 British clothing retailers face Brexit double whammy
07/18DJU.K. Consumers Curb Shopping Trips in June After Vote to Leave EU
More sector news : Other Specialty Retailers - NEC
News from SeekingAlpha
07/29 U.S. consumers did the heavy lifting in Q2
07/28 WHOLE FOODS : Not That Appetizing
07/28 Apple Tops Dogs Of The Dow July Analysis
07/28 Guest Charles Gooch, Jr. (Part 2) - Dividend Health Checkup Podcast - Episode..
07/27 How To Retire At 62 And Live To 120 On Only A Million Bucks
Advertisement
Financials ($)
Sales 2017 486 039 M
EBIT 2017 22 718 M
Net income 2017 13 332 M
Debt 2017 41 784 M
Yield 2017 2,75%
P/E ratio 2017 17,06
P/E ratio 2018 16,35
EV / Sales 2017 0,55x
EV / Sales 2018 0,54x
Capitalization 227 422 M
More Financials
Chart WAL-MART STORES, INC.
Duration : Period :
Wal-Mart Stores, Inc. Technical Analysis Chart | WMT | US9311421039 | 4-Traders
Full-screen chart
Technical analysis trends WAL-MART STORES, ...
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 27
Average target price 69,1 $
Spread / Average Target -5,3%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
C. Douglas McMillon President, Chief Executive Officer & Director
Greg B. Penner Chairman
Michael J. Bender Chief Operating Officer & Global eCommerce
Brett M. Biggs Chief Financial Officer & Executive Vice President
Karenann K. Terrell Chief Information Officer & Executive VP
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
WAL-MART STORES, INC.19.04%227 422
SM INVESTMENTS CORPORA..--.--%17 625
TRACTOR SUPPLY COMPANY7.19%12 229
MARKS AND SPENCER GROU..-29.05%6 863
DUFRY AG-6.17%6 197
STAPLES, INC.-1.90%6 004
More Results