Wal-Mart Q2 Sales +10%
8.14.08 Wal-Mart Stores, Inc. today reported its sales and earnings for the quarter ended July 31, 2008. Net sales for the quarter were approximately $101.6 billion, an increase of 10.4 percent from $92.0 billion in the second quarter last year.
Income from continuing operations for the second quarter was $3.385 billion, an increase of 9.3 percent from $3.097 billion in the second quarter last year.
The full financial report is here.
Wal-Mart Sales Up 9.4%
Wal-Mart Stores, Inc. this morning reported total company net sales increased 9.4 percent to $30.159 billion for the four weeks ended August 1, 2008.
For the month of July, Walmart U.S. store sales increased 6.7 percent to $18.747 billion, Sam’s Club stores sales increased 7.7 percent to $3.538 billion and International store sales increased 17.1 percent to $7.874 billion.
For the first 26 weeks of the year, total company sales are up 9.6 percent to $196.476 billion.
Wal-Mart financial reports are here.
Wal-Mart Joins World Wildlife Fund’s Forest Initiative
7.14.08 Wal-Mart Stores, Inc. today announced it has joined the Global Forest & Trade Network (GFTN), World Wildlife Fund’s (WWF) initiative. By joining the GFTN, Wal-Mart “has committed to phasing out illegal and unwanted wood sources from its supply chain and increasing its proportion of wood products originating from credibly certified sources – for Wal-Mart stores and Sam’s Club locations in the United States,” according to a press release.
Wal-Mart’s commitment includes the importation and sale of all wood-based products with an initial focus on wood-based furniture. Within one year, Wal-Mart will complete an assessment of where its wood furniture is coming from and whether the wood is legal and well-managed. Once the assessment is completed, Wal-Mart has committed to eliminating wood from illegal and unknown sources within five years. The company will also eliminate wood from forests that are of critical importance due to their environmental, socio-economic, biodiversity or landscape values and that aren’t well-managed, according to the statement from WWF.
The full press release is here.
Wal-Mart June Sales +12%
7.10.08 Wal-Mart Stores, Inc. this morning reported net sales for the five- and 22-week periods ending July 4, 2008.
Total sales for the month increased 11.5 percent to $39.9 billion. For the 22-week period, sales increased 9 percent to $166.3 billion.
Same-store sales increased 5.8 percent in June and are up 3.2 percent year-to-date.
International sales continue to shine for the company with a 17 percent increase in June to $9.9 billion and an 18 percent year-to-date increase to $41.9 billion.
The full financial report is here.
Wal-Mart Changing Logo
6.30.08 Wal-Mart Stores Inc. is preparing to change its familiar logo, according to reports over the weekend.8.14.08 Wal-Mart Stores, Inc. today reported its sales and earnings for the quarter ended July 31, 2008. Net sales for the quarter were approximately $101.6 billion, an increase of 10.4 percent from $92.0 billion in the second quarter last year.
Income from continuing operations for the second quarter was $3.385 billion, an increase of 9.3 percent from $3.097 billion in the second quarter last year.
The full financial report is here.
Wal-Mart Sales Up 9.4%
Wal-Mart Stores, Inc. this morning reported total company net sales increased 9.4 percent to $30.159 billion for the four weeks ended August 1, 2008.
For the month of July, Walmart U.S. store sales increased 6.7 percent to $18.747 billion, Sam’s Club stores sales increased 7.7 percent to $3.538 billion and International store sales increased 17.1 percent to $7.874 billion.
For the first 26 weeks of the year, total company sales are up 9.6 percent to $196.476 billion.
Wal-Mart financial reports are here.
Wal-Mart Joins World Wildlife Fund’s Forest Initiative
7.14.08 Wal-Mart Stores, Inc. today announced it has joined the Global Forest & Trade Network (GFTN), World Wildlife Fund’s (WWF) initiative. By joining the GFTN, Wal-Mart “has committed to phasing out illegal and unwanted wood sources from its supply chain and increasing its proportion of wood products originating from credibly certified sources – for Wal-Mart stores and Sam’s Club locations in the United States,” according to a press release.
Wal-Mart’s commitment includes the importation and sale of all wood-based products with an initial focus on wood-based furniture. Within one year, Wal-Mart will complete an assessment of where its wood furniture is coming from and whether the wood is legal and well-managed. Once the assessment is completed, Wal-Mart has committed to eliminating wood from illegal and unknown sources within five years. The company will also eliminate wood from forests that are of critical importance due to their environmental, socio-economic, biodiversity or landscape values and that aren’t well-managed, according to the statement from WWF.
The full press release is here.
Wal-Mart June Sales +12%
7.10.08 Wal-Mart Stores, Inc. this morning reported net sales for the five- and 22-week periods ending July 4, 2008.
Total sales for the month increased 11.5 percent to $39.9 billion. For the 22-week period, sales increased 9 percent to $166.3 billion.
Same-store sales increased 5.8 percent in June and are up 3.2 percent year-to-date.
International sales continue to shine for the company with a 17 percent increase in June to $9.9 billion and an 18 percent year-to-date increase to $41.9 billion.
The full financial report is here.
Wal-Mart Changing Logo
The new logo, not yet officially unveiled by the company, will feature “Walmart” written without the hyphen in white letters on a burnt-orange background followed by a white starburst graphic.
Wal-Mart Lowers Capital Expenditure Forecast
6.18.08 Wal-Mart Stores, Inc. has updated its total company capital expenditure forecast for the current fiscal year, ending Jan. 31, 2009. Speaking at the William Blair Growth Stock Conference in Chicago yesterday, Wal-Mart Executive Vice President and Chief Financial Officer Tom Schoewe said Wal-Mart expects capital expenditures for the company to fall within a range of $13.0 to $14.0 billion for fiscal year 2009.
“This range, based on our latest projections, is lower than the $13.5 to $15.2 billion range we provided last October, and it reflects Wal-Mart’s ability to grow more efficiently with reduced capital expenditures,” Schoewe said. “We first announced our capital efficiency model and reduction in capital expenditures in June 2007. We continue to be focused in the United States on moderating supercenter growth.”
The full press release is here.
Wal-Mart Sales Up 10% in May
6.5.08 Wal-Mart Stores, Inc. today reported total retail sales for the month of May increased 9.8 percent to $31.036 billion from $28.258 billion in the year-ago month.
Wal-Mart store sales increased 7.8 percent to $19.491 billion, Sam’s Club stores increased 7.3 percent to $3.805 billion and International store sales increased 16.6 percent to $7.740 billion.
Same-store sales for the month increased 4.0 percent at Wal-Mart stores and 3.6 percent at Sam’s Club.
The full financial report is here.
Wal-Mart Reports Q1 Sales +10%, Income +7%
5.13.08 Wal-Mart Stores, Inc. today reported net sales for the first quarter of fiscal year 2009 were approximately $94.1 billion, an increase of 10.2 percent over $85.4 billion for the first quarter of fiscal year 2008. Net income for the quarter was $3.022 billion, an increase of 6.9 percent from $2.826 billion in the first quarter of fiscal year 2008. Diluted earnings per share for the first quarter of fiscal year 2009 were $0.76, up from $0.68 per share in the same prior year quarter.
“We’re off to a solid start, with record first quarter sales and earnings,” said Lee Scott, Wal-Mart Stores, Inc. president and chief executive officer. “We continue to deliver against the business model that Sam Walton started – selling branded merchandise for less. Our business is even more relevant to our customers today, given the current economic pressures.”
The full report is here.
Wal-Mart April Sales +10%
5.8.08 Wal-Mart Stores, Inc. today reported total sales for the four-week period ended May 2, 2008 increased 9.8 percent to $29.181 billion. Same-store sales for the month increased 3.2 percent.
The full report is here.
Wal-Mart Cashing Stimulus Checks for Free
5.5.08 Wal-Mart has announced that it will cash economic stimulus checks for free – with no purchase required. And starting this week it will offer shoppers a “program of rollbacks, on items that allow them to save money and live better.”
The full press release is here.
Wal-Mart Appoints Executive to Explore Opportunities in Russia
Wal-Mart Stores, Inc. today announced the appointment of Dr. Stephan Fanderl as President of Wal-Mart Emerging Markets - East. In this role, Dr. Fanderl will “lead the company's efforts to explore retail business opportunities in Russia and neighboring markets,” according to a press release.
Dr. Fanderl comes to Wal-Mart from the Rewe Group, a prominent German retailer and travel company. In 2006 he was appointed a Board Member and head of Hypermarkets and Supermarkets for Rewe Germany with gross revenues of 13 billion euros.
Wal-Mart March Sales +8%
4.10.08 Wal-Mart Stores, Inc. today reported net sales for the month of March increased a total of 7.9 percent, driven by an 18.7 percent increase in international sales from $7.983 billion in the year-ago period to $9.473 billion this March.
For the month, Wal-Mart store sales increased 5.0 percent to $23.213 billion and Sam’s Club stores increased 3.2 percent to $4.287 billion.
Same-store sales for March (not counting fuel sales) increased 3.4 percent at Wal-Mart stores and 7.4 percent at Sam’s stores for an overall U.S. same-store sales growth of 4.0 percent.
The full report is here.
Wal-Mart Intros Super Green Store Format
3.18.08 Today in Las Vegas, Wal-Mart Stores, Inc. introduced what it calls “its most energy efficient U.S. store -- the HE.5 prototype -- that will use up to 45 percent less energy than the baseline Supercenter.”
“Wal-Mart is piloting new technologies, driving innovation and leveraging advances in building design to better align our stores with the communities we serve,” said Charles Zimmerman, Wal-Mart vice president of Prototype and New Format Development. “We are committed to openly sharing our learnings with the retail industry and the world because being more energy efficient is something everyone can benefit from.”
The HE.5 store features advancements in heating, cooling, refrigeration and lighting to conserve energy and reduce greenhouse gas emissions. Specifically, the store takes the integrated water-source format system that Wal-Mart piloted in its high efficiency stores and adapts it to the unique local climate by adding evaporative cooling and radiant flooring technologies. The new HE.5 system reduces the temperature of water naturally by pumping it through roof-mounted cooling towers then runs the cold water underneath the retail floor to cool the shopping area. Together, the systems provide a comfortable shopping environment while using less energy, according to the company.
The full press release is here.
Wal-Mart Foundation Awards $500,000 to Clinton Global Initiative University
3.17.08 The Wal-Mart Foundation last week awarded a $500,000 grant to Clinton Global Initiative University (CGI U) at its inaugural meeting at Tulane University in New Orleans, Louisiana. “The Wal-Mart Foundation grant will fund college students' and universities' commitments to make a difference within CGI U's four main focus areas: energy and climate change, global health, human rights and peace, and poverty alleviation,” according to a press release. The grant awards were announced by former President Clinton and Margaret McKenna, president of the Wal-Mart Foundation.
Wal-Mart February Sales +9%
3.14.08 Wal-Mart Stores, Inc. has that reported February sales increased 8.9 percent in February to $29.188 billion from $26.974 billion in the year-ago period. Wal-Mart stores sales increased 5.6 percent, Sam’s Club increased 6.5 percent and International increased 19.8 percent. Same-store sales increased 2.5 percent for the month at Wal-Mart stores and increased 2.8 percent at Sam’s Club.
The full financial report is here.
Wal-Mart Opening 81 Stores
3.6.08 This month, Wal-Mart Stores, Inc. will open 81 new stores and clubs across the country with 73 of the 81 stores celebrating their grand openings this week.
Wal-Mart said it is executing the plan it unveiled at its shareholders meeting in June 2007 to moderate its U.S. supercenter growth. The Company opened 195 supercenters in the United States in the last fiscal year, 30 percent fewer than in the previous year. These include relocations and expansions. Wal-Mart projected that it will open 170 supercenters in the current fiscal year ending January 31, 2009 and 140 supercenters in the fiscal year ending Jan. 31, 2010.
“As we told investors last year, we’re focused on expansions and relocations of existing discount stores to supercenters, because the supercenter concept provides the greatest return,” said Bill Simon, chief operating officer, Wal-Mart Stores, U.S. “This will result in building fewer new stores.”
The full press release is here.
Wal-Mart Introduces Expanded Home Furnishings Line
3.5.08 Wal-Mart has begun to introduce its new “Canopy” home furnishings brand. Several products from the Canopy line are appearing in select stores nationwide now and are also online at http://www.walmart.com/canopy. The Canopy launch will continue with an expansion of product in additional home categories, in stores and online, in summer and fall of 2008, according to a press release.
“The Canopy brand is designed with a budget-wise customer in mind and focuses on the needs for quality and ease in her family’s busy lifestyle. The new home furnishings line will extend across a multitude of home categories, including bedding, furniture, bath accessories, dinnerware, and décor, and delivers on the Wal-Mart price leadership promise with prices up to 40 percent below competitors,” according to the company.
The full press release is here.
Wal-Mart 4Q Sales +8%
2.19.08 Wal-Mart Stores, Inc. today reported net sales for the fourth quarter of fiscal year 2008 were $106.269 billion, an increase of 8.3 percent over the fourth quarter of fiscal year 2007. Income from continuing operations for the quarter was $4.096 billion, an increase of 4.0 percent from $3.940 billion in the fourth quarter of fiscal year 2007.
Net sales for the fiscal year ended Jan. 31, 2008 were $374.526 billion, an increase of 8.6 percent over fiscal year 2007. Income from continuing operations for the fiscal year ended Jan. 31, 2008 increased 5.8 percent to $12.884 billion, up from $12.178 billion in the prior year.
“For the fourth quarter, we topped $100 billion in sales, the first time in history that any retailer has reached this milestone in a single quarter,” said Lee Scott, Wal-Mart Stores, Inc. president and chief executive officer. “We had a very strong underlying operating performance, exceeding our expectations for the quarter. In addition to another year of record sales and earnings, we also delivered a record return to our shareholders this year through more than $11 billion in share repurchase and dividends.”
The full financial report is here.
Walmex 2007 Sales +13%
2.8.08 Wal-Mart de Mexico has reported total sales for fiscal 2007 of $20.7 billion, an increase of 13 percent over sales of $19 billion in 2006. Net profit for the year increased 15 percent to $1.3 billion from the prior year’s $1.2 billion.
Full reports on January, the fourth quarter and the full year are here.
Wal-Mart Sales +8%
Wal-Mart Stores, Inc. today reported net sales for the four-week and 52-week periods ending Feb. 1, 2008, and Feb. 2, 2007, respectively, as follows (dollars in billions).
The retailer will report earnings for the fourth fiscal quarter and full fiscal year on February 19, 2008.
The full press release is here.
Wal-Mart Buyers to Rate Suppliers on “Green Scorecard”
1.31.08 “Tomorrow, Wal-Mart Stores, Inc. will officially begin using its packaging scorecard to rate suppliers on their progress toward developing sustainable packaging, as well as their ability to help Wal-Mart reach its company-wide sustainability goals to reduce waste, use renewable energy and sell sustainable products. Wal-Mart buyers will be able to use the scorecard as a tool when making purchasing decisions. First unveiled at the Clinton Global Initiative in 2006, and put through a trial phase for the past year, the scorecard is Wal-Mart’s next step in moving toward its goal to achieve a 5 percent packaging reduction by 2013,” according to a press release.
The full press release is here.
Walmex Sales +13%
1.28.09 Wal-Mart de Mexico (Walmex) has reported total 2007 sales of $224.2 billion pesos (US$20.6 billion). This is a 13.3 percent increase over 2006 sales. Same-store sales for the year increased 5.8 percent.
For the month of December, sales increased 11.4 percent to $29.7 billion pesos (US$2.7 billion). Same-store sales grew 4.2 percent for the month.
Wal-Mart to Champion Energy, Health Care, Trade Issues
1.24.08 In a speech to more than 7,000 managers at the annual kick-off meeting for its U.S. stores, Wal-Mart Stores, Inc. President and CEO Lee Scott today said the company would continue to demonstrate leadership and work for change on major issues important to Wal-Mart’s customers, communities, associates and suppliers worldwide.“It is important for all of us to understand that there are a number of issues facing the world that will profoundly affect our lives and our company,” Scott said. “I am talking to you about issues like international trade, climate change, water shortages, social and economic inequities, infrastructure and foreign oil. Wal-Mart can take a leadership role, get out in front of the future, and make a difference that is good for our business and the world.”
The complete press release is here.
Wal-Mart Vice Chairman Menzer to Retire
1.21.08 John Menzer, vice chairman of Wal-Mart Stores, Inc., has announced he will retire from the company on March 1.
“Menzer spent 12 years with the company during a time marked by extraordinary growth and international expansion. His current responsibilities will be assumed by other leaders in the company,” according to a press release.
The full press release is here.
Wal-Mart Announces New Head of Asia Retail Operations
1.15.08 Wal-Mart Stores, Inc., today announced the appointment of Vicente Trius as Executive Vice President, President and CEO of Wal-Mart Asia, International. In this role, Trius will lead Wal-Mart's retail operations in Asia. Wal-Mart has a significant presence in the region with over 82,000 associates and retail units in Japan and China. The company also has a joint venture with Bharti Enterprises in India.
The full press release is here.
Wal-Mart December Sales +8%
1.14.08 Wal-Mart Stores, Inc. has reported net sales for the five-week period ended January 4, 2008 increased 8.4 percent to $46.597 billion.
For the month, Wal-Mart stores increased 5.6 percent to $29.689 billion; Sam’s Club was up 4.3 percent to $4.938 billion and International retail sales grew 8.4 percent to $11.970 billion.
Total U.S. same-store sales increased 2.4 percent for the month.
The full press release is here.
Wal-Mart Canada CEO to Retire January 31
Wal-Mart Canada Corp.'s CEO Mario Pilozzi has announced his retirement effective January 31, 2007.
David Cheesewright, 45, currently chief operating officer of ASDA, Wal-Mart’s grocery chain in Britain, will succeed him. Cheesewright served as chief operating officer for Wal-Mart Canada from 2004 to 2005.
The full press release is here.
Wal-Mart November Sales +8%
12.7.07 Wal-Mart Stores, Inc. reports total sales for the four weeks ended November 30, 2007 increased 8.4 percent to $31.718 billion from $29.265 billion in the year-ago period.
U.S. same-store sales declined 0.5 percent for the month, with Wal-Mart stores down 0.8 percent and Sam’s Club stores +1.4 percent.
The full report is here.
Wal-Mart Completes Seiyu Buy
12.5.07 Wal-Mart this morning announced it has completed the purchase of 95.1 percent of the shares of its Japanese subsidiary, The Seiyu, Ltd.
Seiyu operates 393 supermarkets and general merchandise stores throughout Japan.
Wal-Mart 3Q Profits Up 7%
11.13.07 Wal-Mart Stores on Tuesday morning reported third fiscal quarter net income increased 7.3 percent to $2.857 billion from last year’s $2.647 billion. Net sales for the quarter increased 8.8 percent to $90.880 billion from $83.543 billion in the year-ago period.
By division, Wal-Mart Stores third quarter sales increased 6.4 percent to $57.651 billion, Sam’s Club was up 6.1 percent to $10.826 billion and International increased 16.9 percent to $22.403 billion. U.S. same-store sales increased 1.5 percent.
The full financial report is here.
Wal-Mart Teams with Clinton
11.2.07 Wal-Mart Stores announced yesterday that it has entered into a partnership with the Clinton Climate Initiative “to help bring environmentally-friendly technologies to cities across the United States and around the world.”
“The two groups will explore ways to use their purchasing resources to lower prices on sustainable technologies such as energy efficient building materials and systems, energy efficient lighting and clean energy products,” according to a press release.
Former President Bill Clinton made the announcement at the United States Conference of Mayors Climate Protection Summit being held in Seattle this week.
“This shows what can be achieved when business, government and the non-profit sector work together on some of the biggest challenges facing the world today,” said Lee Scott, president and CEO of Wal-Mart Stores, Inc. “By combining our resources, we can help drive innovation, create new technology markets and ultimately reduce this country’s dependence on foreign oil.”
The full press release is here.
Wal-Mart Donates $1 Million for California Relief
10.29.07 Wal-Mart Stores has donated $1 million to the American Red Cross in support of California fire relief efforts. The retailer has also established donation collection centers for the relief effort in its California Stores.
Wal-Mart Provides Update
10.24.07 Wal-Mart Stores, at its annual Analyst and Investor Meeting held this week in Bentonville, updated its plans for growth and provided details about its worldwide expansion plans.
Total capital spending for the current fiscal year 2008 is expected to be approximately $15 billion, down from $15.7 billion last year. Looking forward, total capital spending will flatten. Declines in capital spending at Wal-Mart Stores U.S. will be offset by increases at Wal-Mart International, resulting in worldwide spending of $14 to $15 billion in each of the next two years, according to the company.
“We continue to focus on increasing operating cash flow, in addition to moderating capital expenditures,” said Tom Schoewe, executive vice president and CFO.
Details on projected capital spending for all purposes are presented here.
Wal-Mart to Take Full Ownership of Seiyu
10.22.07 Wal-Mart Stores today announced it will launch a tender offer to acquire all of the issued and outstanding shares of its Japanese subsidiary, The Seiyu, Ltd., that it does not already own. The offer is being made with the endorsement of the Seiyu Board of Directors, which today passed a resolution of support.
The tender offer price is 140 yen per common share. This represents a premium of 60.9% over the closing price on the Tokyo Stock Exchange on October 19, and a premium of 34.6% over the average closing price for the prior three months.
Wal-Mart currently owns 50.9% of Seiyu. The tender offer represents an additional investment by Wal-Mart of up to 100 billion yen (approximately $862 million).
"Today's announcement is a reaffirmation of our commitment to Japan, the second largest economy in the world," said Mike Duke, Vice Chairman of Wal- Mart Stores, Inc. "The Japanese retail market is of major strategic importance to Wal-Mart, and our goal is to achieve long-term success and growth in Japan."
Wal-Mart Reduces Prices
10.19.07 Wal-Mart staked its claim on holiday sales yesterday by announcing price reductions on 15,000 items.
“In an effort to help stretch the dollar, we’re giving customers an early start on holiday savings with even more targeted price cuts to come,” said Bill Simon, executive vice president and chief operating officer, Wal-Mart. “These rollbacks are just the start of special values we’ll unveil now through December to remind people that our prices will remain unbeatable and you will save money on great products here.”
The full press release from Wal-Mart is here.
Wal-Mart September Sales +10%, Raises 3Q Guidance
10.11.07 Wal-Mart Stores today reported total sales for the five-week period ended October 5, 2007 increased 9.7 percent to $34.406 billion from last year’s $31.369 billion.
By division, sales increased 6.4 percent at Wal-Mart stores to $21.447 billion, 6.8 percent at Sam’s Club to $4.006 billion and 20.1 percent at International operations to $8.893 billion.
Same-store sales for the month increased 1.5 percent at Wal-Mart stores and 2.1 percent at Sam’s Club.
“We estimate that earnings per share from continuing operations for the third quarter will change from our previously stated guidance of $0.62 to $0.65 to a range of $0.66 to $0.69,” said Tom Schoewe, EVP and CFO.
The full report from Wal-Mart is here.
Walmex 3Q Profits Up 19%
10.10.07 Wal-Mart de Mexico yesterday reported that profits increased 19 percent in the third quarter to 3.4 billion pesos ($308 million).
Total sales during the quarter rose 8 percent to 53 billion pesos ($4.9 billion).
The company also announced that same-store sales increased 3.1 percent in September.
The full press release is here.
Wal-Mart Sells 100M CFLs
10.03.07 Wal-Mart Stores, Inc. yesterday announced it has surpassed its goal to sell 100 million compact fluorescent light bulbs (CFLs) by the end of 2007.
Over the lifetime of the CFLs, Wal-Mart estimates that these energy-saving bulbs will have the effect of taking 700,000 cars off the road, or conserving the energy needed to power 450,000 single-family homes.
The full press release is here.
Wal-Mart Announces Carbon Measurement Program
9.24.07 Wal-Mart Stores today announced a partnership with the Carbon Disclosure Project (CDP) to measure the amount of energy used to create products throughout its supply chain, including the procurement, manufacturing and distribution process. Using this measurement tool, Wal-Mart will initiate a pilot with a group of suppliers to look for new and innovative ways to make the entire process more energy efficient.
“This is an important first step toward reaching our goal of removing non-renewable energy from the products Wal-Mart sells,” said John Fleming, executive vice president and chief merchandising officer, Wal-Mart Stores Division. “This is an opportunity to spur innovation and efficiency throughout our supply chain that will not only help protect the environment but save people money at the same time.”
The full press release from Wal-Mart is here.
Wal-Mart Offers Private Label CFL Light Bulbs
9.21.07 Wal-Mart Stores yesterday announced the launch of its private label compact fluorescent light bulbs (CFLs) under the Great Value brand label. This September, the Great Value CFLs hit shelves in more than 3,000 Wal-Mart stores and Supercenters nationwide.
“The new CFLs can be found in the lighting aisle at the value price of four bulbs for the cost of three regularly priced brand name CFLs,” according to a statement by the retailer.
The full press release is here.
Wal-Mart Wants Customers to Save Money and Live Better
9.12.07 Wal-Mart today is rolling out new brand advertising showcasing the many ways it says it saves customers money so they can live better. As part of the new advertising, the retailer has a new tagline: “Save Money. Live Better.”
New research from Global Insight released today by Wal-Mart claims the retailer now saves American families $2,500 each year, up 7.3% from $2,329 in 2004.The full press release from Wal-Mart is here.
Wal-Mart Adjusts 2Q Profit Report Down by $153 million
9.11.07 Wal-Mart Stores Inc. reduced its reported second-quarter profit by $153 million due to expenses from selling its German retail operations, according to an SEC document filed Monday.
Wal-Mart said the added cost reduced its earnings per share for the quarter ending July 31 to 72 cents from the 76 cents it had reported Aug. 14. The company reported earnings per share of 50 cents in the year-ago period.
Wal-Mart also announced yesterday that it will make a presentation during the Bank of America 2007 Annual Investment Conference at approximately 8:00 a.m. PDT, Tuesday, September 18. Tom Schoewe, executive vice president and chief financial officer, Wal-Mart Stores, Inc., will provide an update on the Company's sales and operations.
A live web cast of the presentation at the conference and question-and-answer session will be available through the link provided on http://www.walmartstores.com/investors. It will be archived for one year on the Company's web site.
Wal-Mart August Sales +9.3%
9.6.07 Wal-Mart today reported net sales for the four-week period ending August 31, 2007 increased 9.3 percent to $28.222 billion from $25.825 billion in the year-ago period. Same-store sales for the month increased 2.9 percent.
For the first 30 weeks of the year, sales are up 8.5 percent to $207.487 billion. Same-store sales for the year are up 2.8 percent.
The full report from Wal-Mart is here.
Wal-Mart 2Q Sales +8.8%
8.14.07 Wal-Mart Stores today reported net sales for the second quarter ended July 31, 2007 increased 8.8 percent to $91.99 billion. Income from continuing operations for the quarter increased 4.1 percent to $3.11 billion from $2.98 billion in the year-ago period.
The retailer lowered its full year guidance for fiscal 2007 to between $3.05 and $3.13 per share from a previous estimate of between $3.15 and $3.23 per share, sending its stock down $2.26 as of noon eastern. The pessimistic outlook also sent the Dow Jones average down 113 points as of noon.
The full report from Wal-Mart is here.
Wal-Mart July Sales +7%
8.9.07 Wal-Mart Stores, Inc. today reported net sales for the month of July increased 6.5 percent to $26.999 billion from $25.346 billion in the year-ago period. By Division, sales increased 3 percent at Wal-Mart stores to $16.988 billion, 7 percent at Sam’s Clubs to $3.284 billion and 16 percent at international stores to $6.727 billion.
Same-store sales increased 1.9 percent in the U.S., with Sam’s up 5.1 percent and Wal-Mart up 1.3 percent.
The full press release is here.
Wal-Mart Signs Agreement with India’s Bharti
8.7.07 Bharti Enterprises and Wal-Mart Stores, Inc. have announced that they have signed an agreement to establish Bharti Wal-Mart Private Limited, a joint venture for wholesale cash-and-carry and back-end supply chain management operations in India, in line with Government of India guidelines. Under the agreement, Bharti and Wal-Mart will hold a 50:50 stake in Bharti Wal-Mart Private Limited.
The press release from Wal-Mart is here.
Wal-Mart Announces Price Cuts on 16,000 Items
7.24.07 Wal-Mart Stores has announced an aggressive price-cutting program on over 16,000 products with a focus on back-to-school items.
“Let there be no doubt we mean business when it comes to price leadership,” said Bill Simon, EVP and COO Wal-Mart Stores U.S. “We continue to be more aggressive on pricing and are working with key suppliers on upcoming plans for fall and holiday.”
The full press release on the program is here.
Wal-Mart Allows Customer Reviews and Ratings Online
7.19.07 Wal-Mart today announced the launch of customer reviews and ratings on its website. The feature allows customers to rate and review all products offered at walmart.com.
Wal-Mart June Sales Up
7.12.07 Wal-Mart Stores today reported net sales for June increased 9.4 percent over last year to $35.811 billion. Same-store sales for the month increased 2.4 percent over the same month a year ago. For the complete press release from Wal-Mart, go here.
Wal-Mart Offering Prepaid Debit Cards in Stores
Wal-Mart announced today that it would expand its MoneyCenter department from about 225 now to over 1,000 by the end of next year.
The centers will offer a new Wal-Mart branded prepaid debit card to low-income shoppers who may not have bank accounts and who deal mostly in cash.
The retailer’s announcement on the program is here.
Update on Wal-Mart
6.15.07 Wal-Mart Stores, Inc. will make a presentation during the William Blair Annual Growth Stock Conference at approximately 2:20 p.m. CDT, Tuesday, June 19. John Menzer, vice chairman and chief administrative officer, Wal-Mart Stores, Inc., will provide an update on Wal-Mart U.S. and Wal-Mart International.
A live web cast of the presentation at the conference and question-and-answer session will be available through the link provided on http://www.walmartstores.com/investors. It will be archived for one year on the Company's web site.
Wal-Mart May Sales +7.7%
Wal-Mart Stores this morning reported same-store sales during May increased 1.1 percent, excluding fuel sales. Including fuel, same-store sales increased 1.3 percent for the month.
Total U.S. sales for the four weeks ended June 1, 2007 increased 7.7 percent to $28.26 billion.
The complete press release and financial report from the retailer for the month is here.
Wal-Mart 1Q Sales +8%
5.15.07 Wal-Mart Stores today reported net sales for the first fiscal quarter of 2007 ended April 30 increased 8.3 percent to $85.387 billion from $78.835 billion in the year-ago period.
Net income for the quarter increased 6.2 percent to $2.826 billion from last year’s $2.660 billion.
By division, sales were up 5.6 percent at Wal-Mart stores to $55.437 billion, also up 5.6 percent at Sam’s Club to $10.323 billion and up 18.5 percent at international stores to $19.627 billion.
Same-store sales in the U.S. increased 0.6 percent overall with Wal-Mart stores down 0.1 percent and Sam’s up 4.7 percent.
“While these are record sales and earnings, we feel there was an opportunity to have done better,” said Lee Scott, president and CEO.
The full Wal-Mart quarterly report is here.
Wal-Mart Same-Store Sales Fell 3.5% in April
5.11.07 Wal-Mart Stores, Inc reports same-store sales for April were down 4.6 percent at the Wal-Mart Stores and up 2.5 percent at Sam’s Club. Total U.S. comparable store sales decreased 3.5 percent for the four-week period.
For the April period, overall sales at the Wal-Mart Stores were impacted negatively by weather conditions throughout most of the United States. An earlier Easter season this year also drove some seasonal sales into last month’s period, according to the company.
Total company sales for the month increased 3.7 percent to $26.6 billion. Wal-Mart sales were up 0.4 percent to $16.9 billion, Sam’s Club was up 4.9 percent to $3.3 billion, and international sales increased 13.0 percent to $6.4 billion.
The corporate release on April sales is here.
Walmex 1Q Income +21%
4.26.07 Wal-Mart de Mexico (Walmex) reports first quarter net income grew 21 percent to 2.94 billion pesos ($268 million) while sales increased 19 percent to 49.9 billion pesos ($4.5 billion).
“During this quarter we implemented a massive campaign of rollbacks in order to strengthen our competitive position in the marketplace,” said Eduardo Solorzano, CEO of Wal-Mart’s Mexican unit.
Wal-Mart Denies Information-Gathering on Stockholders
4.23.07 Wal-Mart Stores CEO Lee Scott Jr. wrote to shareholders late last Friday that the retailer hadn't gathered information on those who submitted resolutions for its coming annual meeting.
The letter is in response to two recent articles in The Wall Street Journal about Wal-Mart's surveillance activities. A former employee claimed he had carried out the activity.
Wal-Mart CEO Paid $23.3M
4.20.07 Regulatory filings with the Securities and Exchange Commission yesterday show Wal-Mart Stores Inc. paid CEO Lee Scott compensation of $23.3 million last year.Scott was paid $1.3 million in salary, stock and option awards of $17 million, non-equity incentive payments of $4.3 million and around $700,000 in deferred compensation and perquisites.
Wal-Mart March Sales Up 4%
4.12.07 Wal-Mart Stores this morning reported a 4 percent gain in same-store sales for March, aided by the early Easter holiday.
Overall sales for the five-week period increased 12 percent to $34.3 billion.
The retailer warned that April sales will suffer by comparison to last year because of the holiday shift. Same-store sales for this month, the company said, will come in at about flat to minus 2 percent versus year-ago results.
Wal-Mart Names New COO
4.9.07 Wal-Mart Stores on Friday of last week named Bill Simon to the newly created position of chief operating officer for the Wal-Mart stores division. Simon most recently served as senior vice president of global business development for Brinker International, a restaurant operator. He will report to Eduardo Castro-Wright, president and CEO of Wal-Mart Stores U.S.
Wal-Mart Makes Exec Changes
4.2.07 Wal-Mart Stores Inc. has announced that Vice Chairman John Menzer will assume the additional responsibility of chief administrative officer, a new title for the company.
“This will enable John to take a more active role in global procurement,” said Lee Scott, president and CEO.
The retailer also announced that Eduardo Castro-Wright, president and CEO of Wal-Mart Stores USA, will now report directly to Scott. He had previously reported to Menzer.
Wal-Mart Drops Bank Plans, Home Depot Does Not
3.19.07 Wal-Mart Stores last week announced it has withdrawn its application with the Federal Deposit Insurance Corp. to establish an Industrial Loan Company, or ILC bank.
Home Depot, which also has an application pending with the FDIC to acquire EnerBank USA, an existing ILC bank, says it will move forward with its plans.
“Any decision by Wal-Mart concerning its application for a new ILC in no way affects Home Depot’s plans concerning EnerBank,” said Anthony Wilbert, a company spokesman.
Wal-Mart Wants “Green” Packaging from Suppliers
3.14.07 Wal-Mart has launched an online scorecard program for suppliers to input information on their packaging and its effect on the environment. The retailer has given its 66,000 suppliers until February 1, 2008 to enter all their packaging data on Retail Link, the company’s online database where suppliers can access daily sales data.
“The packaging scorecard helps everyone make better decisions that are good for business, our customers and the environment,” said Matt Kistler, VP of marketing.
The scorecard will produce a number comparing a supplier’s packaging with others making similar products. It will then be used by Wal-Mart buyers, along with price and profitability considerations, to help decide which products to buy.
Wal-Mart Gives CEO $22M Stock Bonus
3.12.07 Wal-Mart Stores last week awarded CEO Lee Scott a bonus of $22 million in stock for reaching revenue targets in the fiscal year ended January 31.
The award, 459,348 shares, will be 50 percent vested in three years and fully vested in five years.
Wal-Mart February Sales +8%
3.8.07 Wal-Mart Stores today reported same-store sales for the month of February increased just 0.9 percent. Overall sales, however, increased 8.1 percent to $26.79 billion from $24.78 billion in the year-ago period.
Sales increased 5.6 percent to $17.57 billion at Wal-Mart stores, 4.2 percent to $3.16 billion at Sam’s Club and 18.7 percent to $6.06 billion at international stores.
Wal-Mart Rolls out Free Shipping to Stores from Website
3.6.07 Wal-Mart Stores today announced the first phase of its Site to Store program. The service offers free shipping to Wal-Mart stores on thousands of items ordered on the retailer’s website.
Initially, 750 stores are participating in the program, with over 3,300 stores expected to be included by late summer.
Items ordered online will be shipped to a customer’s local store within 7 to 10 business days. An automated e-mail will be sent to alert the customer that the product is ready for pickup.
Wal-Mart Buys Stake in China’s Trust-Mart Chain
2.27.07 Wal-Mart Stores yesterday announced it has purchased a 35 percent interest in Bounteous Company Ltd. (BCL), which operates 101 hypermarkets in China under the Trust-Mart name.
“Through this investment in Trust-Mart, we have the opportunity to expand our presence in China, one of the world’s fastest growing retail markets,” said Wal-Mart’s Vice Chairman Michael Duke.
“Subject to certain conditions, Wal-Mart will acquire ownership control in the future,” the company said in a press release.
Wal-Mart 4Q Profits +9%
2.20.07 Wal-Mart Stores today reported profit for the fourth fiscal quarter of 2006, ended January 31, 2007, increased 8.8 percent to $3.94 billion from $3.621 billion in the year-ago period.
Fourth quarter sales increased 10.9 percent to $98.09 billion. Same-store sales in the period increased 1.6 percent, with Wal-Mart stores up 1.3 percent and Sam’s Club up 3.1 percent.
For the fiscal year, sales rose 11.7 percent to $344.99 billion from $308.95 billion a year ago. The company had a profit from continuing operations of $12.18 billion for the year, up from $11.41 billion in the prior year.
“I am encouraged by our achievements as we head into the current fiscal year,” said Lee Scott, president and CEO.
You can read the full report from Wal-Mart here: http://www.walmartfacts.com.
Seiyu Says Loss Triples in 2006
2.19.07 Wal-Mart’s Japanese subsidiary, Seiyu Ltd., reported last Friday that its net loss for 2006 totaled 55.79 billion yen ($468.8 million), compared with a net loss of 17.7 billion yen in the year-ago period.
Sales for the year fell 3.6 percent to 960.86 billion yen ($8.07 billion), down from 99.71 billion yen a year ago.
Same-store sales for the retailer rose 0.6 percent for the year, the first time in 15 years the company has seen a rise in that measure.
Wal-Mart Promotes Execs
2.16.07 Wal-Mart Stores Inc. yesterday announced that Carter Cast, president of Walmart.com, has been promoted to EVP of Strategic Planning for Wal-Mart. Raul Vazquez, formerly chief marketing officer at the online operation, was named to be its new president. Both will report to Eduardo Castro-Wright, president and CEO of Wal-Mart’s U.S. division.
Walmex to Open 125 New Stores in 2007
2.14.07 Wal-Mart de Mexico (Walmex) has announced plans to open 125 new stores in 2007, increasing its total retail square footage by 12 percent. The retailer, owned by Wal-Mart, opened 120 new units in 2006 ending the year with 893 stores and restaurants in the country.
Eduardo Soloranzo, CEO, said the company has identified 371 cities for expansion, 322 of which have no current Walmex stores.
Wal-Mart U.S. Same-Store Sales Rose 2.2% in January, 2% for the Fiscal Year
2.12.07 Wal-Mart Stores, Inc. last week said same-store sales in the U.S. rose 2.2 percent in January. Total sales for the month increased 11 percent to $31.69 billion, with $20.47 billion at Wal-Mart stores and $3.67 billion at Sam’s Club.
International sales increased 18 percent to $7.55 billion.
For the fiscal year ended February 3, U.S. same-store sales grew 2 percent. Total U.S. sales increased 12 percent to $352.08 billion, with $230.7 billion at Wal-Mart and $42.28 billion at Sam’s Club.
International sales for the fiscal year grew 29 percent to $79.74 billion.
Wal-Mart Faces Huge Pay Trial
2.07.07 A class-action lawsuit covering all women who worked for Wal-Mart from 1999 to the present, as many as 1.5 million workers, has been ruled eligible for trial by a federal appeals court in San Francisco.
The case, claiming women were discriminated against in pay and promotions, could cost the retailer billions of dollars.
Wal-Mart January Sales +2.2%
2.05.07 Wal-Mart Stores announced on Saturday that January sales rose a stronger-than-expected 2.2 percent at its U.S. stores open at least a year (same-store sales).
The world's largest retailer had forecast U.S. January same-store stores to rise between 1 percent to 2 percent, compared with a year ago when its January same-store sales increased 4.7 percent.
A full report on January sales is expected to be released by the company on Thursday of this week.
Wal-Mart to Pay $33M in Back Overtime Case
1.26.07 Wal-Mart Stores will pay a total of more than $33 million in back wages to approximately 87,000 employees following a voluntary review of its overtime pay policies during the past five years, according to an agreement announced yesterday with the Labor Department.
The same review revealed the company had overpaid about 215,000 workers during the same period. The company said it will not seek to recover any overpayments, which were at least $20 per worker.
Wal-Mart Names New Chief Merchandising Officer
1.24.07 Wal-Mart Stores today announced that John Fleming will become the retailer’s chief merchandising officer as part of a reorganization of its marketing and merchandising departments.
The new system has merchandising at Wal-Mart divided into five divisions – grocery, entertainment, apparel, home, and pharmacy and optical.
Fleming will be responsible for the first four divisions, with Bill Simon as the head of pharmacy and optical.
In related moves, Doug Dean, EVP of food, consumables and hardlines, will retire. Claire Watts, EVP of merchandising moves to apparel, and Stephen Quinn, VP of marketing, will replace Fleming as chief marketing officer.
You can read the entire Wal-Mart press release here.
Wal-Mart Dec. Same-Stores Sales +1.6%, Total +8.8%
1.5.06 Wal-Mart Stores reports same-store sales for the month of December increased 1.6 percent over a year ago. Overall sales for the world’s largest retailer increased 8.8 percent to $43.9 billion. International net sales did particularly well, increasing 30.5 percent to $10.34 billion.
Same-store sales were up 1.3 percent at Wal-Mart stores and up 3.5 percent at Sam’s Club.
The company said overall sales for the month were hurt by soft sales in apparel, where a recent push into more trendy styles was not accepted by its customers.