November 13th, 2007 06:26 EST
Future Remains Uncertain, Wal-Mart Posts 3rd Quarter Profits
In the fall of 1999, Wal-Mart came under fire from the Interfaith Center on Corporate Responsibility (ICCR), a coalition of 275 religious organizations who hold 100 billion in their stock portfolios, for destroying Native gravesites with new store development. [News From Indian Country, 1/31/00]
WAL-MART POSTS 3RD QUARTER PROFITS; FUTURE REMAINS UNCERTAIN
Wal-Mart cautious on holiday earnings [CNN Money]
Wal-Mart Stores posted better-than-expected third-quarter earnings Tuesday but offered a cautious outlook about the fourth-quarter, which includes the all-important holiday shopping period. The world's largest retailer earned $2.9 billion, or 70 cents a share, from continuing operations, up from $2.6 billion, or 62 cents a share.
Flickinger Says Wal-Mart Is No Longer a Growth Company: Audio [Bloomberg News]
Burt Flickinger, managing director of Strategic Resource Group, talks with Bloomberg Ken Prewitt about challenges facing Wal-Mart Stores Inc.
Wal-Mart Needs A Plan [Forbes]
Despite about a billion dollars a day in revenue, Wal-Mart just isn't a growth company any more, and investors don't like it.
Wal-Mart Profit Rises After It Offers More Discounts [Bloomberg News]
Wal-Mart Stores Inc., the world's largest retailer, said quarterly profit rose more than analysts estimated and boosted its full-year earnings forecast after luring customers with holiday discounts. Wal-Mart shares rose 3.3 percent in early U.S. trading. "We believe we are well-positioned to win in this environment,'' Chief Executive Officer H. Lee Scott said on a recorded call today."
Wal-Mart's Net Rises 7.9% On Higher Profits in U.S. [Wall Street Journal]
Wal-Mart Stores Inc., the world's largest retailer, said its third-quarter net income grew 7.9% on higher profits at U.S. stores. The company also raised its outlook for fiscal 2008 earnings.
Wal-Mart posts profit surprise [Marketwatch]
The world's largest retailer reported net income of $2.86 billion, or 70 cents a share, for the three months ended Oct. 31, up from $2.65 billion, or 63 cents, earned in the year-earlier third quarter.
Wal-Mart Results Lift Stock Futures [Associated Press]
Wall Street looked to rebound on Tuesday after Wal-Mart Stores Inc. posted better-than-expected earnings and hinted that consumer spending might be stronger than expected going into the holiday shopping season. The world's largest retailer reported results that surpassed Wall Street projections. The results also showed that heavy discounting during the quarter did not hurt margins, which the company said bodes well for the fourth quarter.
WAL-MART AND HEALTH CARE
A Health Plan for Wal-Mart: Less Stinginess [New York Times]
For much of the last decade, the retailing behemoth Wal-Mart Stores has been associated with stingy health care as much as low prices.Across the country, politicians and labor groups derided the company’s health plans for their high expense and bare-bones coverage. Two states, California and Maryland, even passed laws demanding, in effect, that the company spend more on employee health benefits...So now, after spending two years seeking advice from everyone from Bill Clinton to executives at Starbucks, Wal-Mart is overhauling its health plans.
The Public Face of Wal-Mart’s Health Care Program [New York Times]
For much of the last decade, labor groups and state governments pilloried the health care Wal-Mart offered its 1.4 million workers and the executives who oversaw it...What follows are brief excerpts from a lengthy interview with Ms. Dillman, conducted in her office near Wal-Mart’s headquarters in Bentonville, Ark., in October.
WAL-MART COULD BENEFIT FROM SLOWDOWN
Wal-Mart may gain market share as economy slows, Goldman says [Bloomberg News via Asbury Park Press (New Jersey)]
Wal-Mart Stores Inc. rose the most in a month after Goldman, Sachs & Co. said the world's biggest retailer may take business from rivals as a slower economy drives customers to its lower-priced goods. Wal-Mart "typically gains share in a slowing consumer environment," analysts led by Adrianne Shapira wrote in a note to investors. That may help Wal-Mart reclaim sales lost last year when the company's "strategy waffled and skewed toward trendy, higher-priced goods."
IS WAL-MART DECEIVING AMERICANS WITH NEW AD CAMPAIGN?
Does Wal-Mart really save families $2,500 each year? [Blogging Stocks]
Wal-Mart instituted a new customer slogan this year: "Save Money. Live Better." Although it was intended to reinforce the retailer's position that it helps families in an age of increasing prices and general inflationary pressure, much of the public didn't get the memo, apparently.
RECALLED TOYS STILL BEING PROMOTED BY WAL-MART?
Recalled toys make it into Wal-Mart's Holiday Guide [KHON 2 (Hawaii)]
Parents shopping for their kids this Christmas have to make their list and check it twice. The growing number of recalls has made it a huge challenge. Two toys recently pulled for safety concerns even fell through the cracks of a major retailers' holiday ad campaign
WAL-MART IN MEXICO: SHARES DROP AS NEW BANKS UNDERCUT COMPETITION
Walmex's decline leads bolsa lower [Houston Chronicle]
The bolsa index dropped Monday 972.96 to 28,185.90, the lowest since Aug. 16. Shares of Wal-Mart de Mexico fell 2.3 percent to 38.09 pesos after the analysts removed the company from their list of 15 preferred Latin American shares.
Wal-Mart Bank in Mexico Undercuts BBVA, Citigroup [Bloomberg News]
Wal-Mart Stores Inc., the world's largest retailer, made its first foray into banking, opening branches in Mexico and undercutting fees at the biggest local lenders, Banco Bilbao Vizcaya Argentaria SA and Citigroup Inc.
WAL-MART FALLS SHORT ON RESPONSIBLE EMPLOYMENT
It pays to be socially responsible [National Post (Canada)]
When it comes to employee relations, Costco gets CSR but Wal-mart doesn't. Costco pays a decent wage, has a good benefits program and invests in employee development. Wal-mart views these as needless costs.
WAL-MART FILM PREMIERES IN CANADA
Wal-Mart Nation [CBC]
Wal-Mart Nation is an hour long, documentary journey through the complex and fascinating world of the international anti-Wal-Mart movement.
MALAYSIA SITE FIGHT: WAL-MART NOT COMING TO MALAYSIA AFTER ALL?
Wal-Mart may not be coming to Malaysia [The Edge Daily (Malaysia)]
It looks like the US-based Wal-Mart Stores Inc, which was initially reported as planning to set up operations in Malaysia, may not be coming soon since there was no such application from the world’s largest retailer in the first place.
TEXAS SITE FIGHT: IN COURT TODAY
Fight Over Proposed Wal-Mart Goes to Court [KLBJ 590 (Texas)]
A group protesting the re-development of Northcross Mall into a Wal-Mart Supercenter plans to fight the city of Austin in court today.
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