Wednesday, May 23, 2:50 PM
Wal-Mart (WMT +1.0%) tips off in a presentation at the Morgan Stanley Retail and Restaurant Conference that it plans to add 100 supercenters in FY13 - a mark that stands below a previous estimate calling for 130 to 135. The game plan for the company has been to shift away from big-box stores to the so-called supercenters that can be filled to the gills with a wider variety of products. (webcast)
Comment![Consumer]
Tuesday, May 22, 11:35 AM
CalSTRS plans to keep the heat on Wal-Mart (WMT +0.7%) by using its 5.3M shares to vote against the entire sitting board at the company. It's not a shocker considering the teachers retirement fund filed suit against the company two weeks ago and has been a vocal shareholder in the past. (Previous: Proxy firms on WMT vote)
10 Comments[Consumer]
Tuesday, May 22, 8:44 AM
Proxy advisors ISS and Glass Lewis & Co. both issue recommendations that shareholders of Wal-Mart (WMT) vote against CEO Michael Duke and other key board nominees due to the lack of judgement shown in the company's affairs in Mexico. The drive to make sweeping changes at Wal-Mart may be facing an uphill climb with shares just etching out their highest mark since 1999. WMT -0.2% premarket.
1 Comment[Consumer]
Monday, May 21, 11:53 AM
Just one month after the reporting of the Mexican bribery story, Wal-Mart (WMT +0.7%) hits its highest price since the final days of 1999. (last week's earnings)
5 Comments[Consumer]
Thursday, May 17, 12:13 PM
Proxy advisory firm Egan Jones recommends that Wal-Mart (WMT) shareholders vote against re-electing CEO Michael Duke and former CEO Lee Scott to the retailer's board, citing reports of their failure to properly investigate the bribery allegations in Mexico. While WMT today disclosed inquiries into the affair, shares are +5% following its earnings beat.
3 Comments[Consumer, On the Move]
Thursday, May 17, 11:01 AM
Wal-Mart (WMT +5.2%) files a 8-K with the SEC in which it discloses that it's investigating internally if it violated the U.S. Foreign Corrupt Practices Act. The company doesn't surprise anyone with the official revelation that the SEC, DOJ, and Mexican authorities are also running their own probes. Though giving no assurances, Wal-Mart doesn't expect a material effect on its business due to the affair. (Earlier: Earnings)
Comment![Consumer]
Thursday, May 17, 7:57 AM
Though Wal-Mart (WMT) beat on both lines with its Q1 report, Neev Capital's Rahul Sharma warns that the 2.6% gain in comparable-store sales came at the expense of selling margin down 30 bp. He also says the numbers suggest the company is losing ground to rivals on food and non-food items. WMT +2.9% premarket.
1 Comment[Consumer]
Thursday, May 17, 7:18 AM
More on Wal-Mart's (WMT) Q1: Sales at Walmart U.S. +5.9% Y/Y to $66.34B; Walmart International +15% to $32.0B. U.S. same-store sales increased 2.6% Y/Y. Sam's Club comparable sales up 5.3% Y/Y, with strength shown in both traffic and ticket. Expects Q2 EPS of $1.13-$1.18 vs. consensus $1.16. Shares +1.5% premarket. (PR)
Comment![Earnings, On the Move]
Thursday, May 17, 7:05 AMWal-Mart (WMT): Q1 EPS of $1.09 beats by $0.05. Revenue of $112.3B (+8.6% Y/Y) beats by $1.8B. (PR)
Comment![Earnings]
Monday, May 14, 1:16 PM
S&P reiterates its positive view on consumer staples ETFs (XLP,VDC), helping the sector slightly outperform broad market indexes on the day. The agency cites the group's defensive nature, as well as its solid growth and dividend record in making its bullish call. Top holdings include PG, KO, KFT, COST, PEP, WMT, MO.
Comment![Consumer, Quick Ideas]
Thursday, May 10, 10:50 AM
The U.S. Consumer Products Safety Commission announces that Wal-Mart (WMT +0.5%) and Toys "R" Us will recall inflatable Banzai pool slides on concerns that the device can deflate or become dangerously unstable. The product sold from January 2005 to June 2009 can be returned to retailers for a full refund.
Comment![U.S. Economy, Consumer]
Thursday, May 10, 7:02 AM
Wal-Mart (WMT) plans to focus on regions with existing Massmart stores in Africa - instead of bursting into new markets, according to an exec. The company's vision on the continent is to develop its grocery business to take advantage of rising incomes.
Comment![Consumer]
Wednesday, May 9, 6:43 AM
Wal-Mart (WMT) says its Walmex unit churned up sales of 32.16B pesos ($2.47B) in April - marking a 10.8% Y/Y gain. Sales in Mexico rose at a double-digit clip, although analysts warn that the bribery scandal could temper the company's ambitious growth plans in the region.
2 Comments[Consumer]
Monday, May 7, 7:29 AM
Warren Buffett tells CNBC that Wal-Mart's (WMT) scandal in Mexico hasn't changed his opinion on the stock, as he sees a couple of "bad apples" behind the commotion. If the allegations of FCPA violations at Wal-Mart are true, the DOJ may have something to say about those apples.
2 Comments[Consumer]
