Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

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

Delayed Quote. Delayed  - 10/20 10:03:23 pm
68.73 USD   -0.23%
02:17p WAL MART STORES : Maybe he was just working out
11:35a WAL MART STORES : Tri-City drug take-back targets opioids, drug thef..
10:49a WAL MART STORES : Eight Charged With Selling to Minors
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
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
Latest news on WAL-MART STORES, INC.
02:17p WAL MART STORES : Maybe he was just working out
12:01p WAL MART STORES : Boo Fest Phoenix Set to Entertain More Than 6,000 on October 2..
11:35a WAL MART STORES : Tri-City drug take-back targets opioids, drug thefts
10:49a WAL MART STORES : Eight Charged With Selling to Minors
10:37a WAL MART STORES : Walmart Announces Strategic Investment in China's largest on-d..
10:34a WAL MART STORES : Walmart to Mark 25 Years in New Jersey with Grand Opening of T..
09:17a WAL MART STORES : Missing 12-year-old Shiloh boy found in Walmart bathroom
04:38a WAL MART STORES : Around Town (10/21/2016)
04:01a WAL MART STORES : Walmart Announces Strategic Investment in China’s larges..
02:45aDJJakks Pacific Said to Suspend Toy Sales to Kmart
More news
Sector news : Supermarkets & Convenience Stores
02:22pDJSYSCO : US Foods to Cut Jobs Amid Corporate Restructuring
10/20DJWHOLE FOODS MARKET : in Detroit Is Probed Amid Link to Hepatitis A -- Update
10/20 Walgreens sees Rite Aid deal closing in early 2017
10/19DJSUPERVALU : Changes Focus as Retail Sales Slip
10/19DJCARREFOUR : Sales Lifted by Latin America -- Update
More sector news : Supermarkets & Convenience Stores
News from SeekingAlpha
03:11a Alibaba, Suning In JV; Wal-Mart Ties Grow With JD.com
10/20 Wal-Mart gets busy on JD.com
10/19 Attention Wal-Mart Shoppers - A Rangeley Capital Discussion
10/18 Vudu launches free content service
10/18 Sorry Amazon, You Don't Belong Here
Financials ($)
Sales 2017 487 066 M
EBIT 2017 22 919 M
Net income 2017 13 567 M
Debt 2017 42 664 M
Yield 2017 2,91%
P/E ratio 2017 15,62
P/E ratio 2018 15,71
EV / Sales 2017 0,52x
EV / Sales 2018 0,52x
Capitalization 212 600 M
More Financials
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
Technical analysis
Income Statement Evolution
More Financials
Mean consensus HOLD
Number of Analysts 29
Average target price 74,9 $
Spread / Average Target 9,0%
Consensus details
EPS Revisions
More Estimates Revisions
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.12.12%212 600
CARREFOUR-8.61%20 085
CENCOSUD SA--.--%9 103
WHOLE FOODS MARKET, IN..-15.55%9 019
More Results