Earnings Call Excerpt
Wal-Mart Stores, Inc. (WMT)
F1Q09 Earnings Call
May 13, 2008 7:30 am ET
Executives
Carol Schumacher – Vice President, Investor Relations
Lee Scott - President and CEO
Tom Schoewe – Executive Vice President and Chief Financial Officer
Eduardo Castro-Wright – Wal-Mart Stores US President and CEO
Mike Duke - Vice Chairman, Wal-Mart International
Charles Holley, Executive Vice President and Treasurer
Presentation
Thank you for calling Wal-Mart Stores, Inc. First Quarter Earnings Call for Fiscal Year 2009. This call is the property of Wal-Mart Stores, Inc. and intended solely for the use of Wal-Mart shareholders. It should not be reproduced in any way.
This call will contain statements that Wal-Mart believes are forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as amended and intended to enjoy the protection of the Safe Harbor for forward looking statements provided by that Act. These forward looking statements generally are identified by the use of the words or phrases expect, forecast, may take, should kick in, will continue and will remain or a variation of one of those words or phrases in those statements or by the use of words or phrases of similar import.
Similarly, descriptions of our objectives, plans, goals, targets or expectations are forward looking statements. These statements discuss among other things our anticipated US comparable store sales for the current fiscal quarter and our anticipated earnings per share for the current fiscal quarter, our anticipated tax rate for the fiscal year 2009 and the factors that may impact that tax rate, our expectation that high transportation costs will be an expense headwind for the remainder of the year, our forecast for our capital expenditures for fiscal year 2009.
Our expectation that the long term projects to enhance our information systems for merchandising, finance ,and human resources will continue to be an expense headwind for the rest of fiscal year 2009, our expectations that there will be challenging macroeconomic environment in which we will operate for the remainder of the year, our expectation that higher fuel costs will be an expense headwind for our Wal-Mart Stores US segment for the remainder of the year, our expectation for the time necessary to fully implement new technology resources across the entire store in our Wal-Mart Stores US segment.
Our expectation that the home category in our Wal-Mart stores US segment will continue to be pressured by weakness in the housing market, our expectation that with help from the weather the apparel category and our seasonal business in our Wal-Mart Stores US segment should kick into high gear, our expectation that the United Kingdom will remain a challenging economy in retail market for the rest of the year, our expectation that the acquisition and retention of members will remain a focus of our Sam's Club segment throughout fiscal year 2009, and the anticipation and expectations of Wal-Mart and its management as to future occurrences and trends.
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