Earnings Call Excerpt
Wal-Mart Stores, Inc. (WMT)
F4Q08 Earnings Call
February 19, 2008, 7:30am
Executives
Carol Schumacher – Vice President, Investor Relations
H. 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
This call is the property of Wal-Mart Stores Incorporated 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 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, moderated, plan, projected, slowed down, will be, will become, will continue, will enable, will go, will make, will roll and will save in those statements. 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 diluted earnings per share from continuing operations for the current fiscal quarter and for fiscal year 2009; our anticipated tax rate for fiscal year 2009, our expectations for capital expenditures in our United States and International Operations in fiscal year 2009. For moderation in our capital expenditures and in growth in square footage in future fiscal years for providing returns to shareholders for the results of collaboration between the various segments of our operations.
The relevance of our company and business model in the future, for continuing to execute on our plan of price leadership. Well managed inventory and operational excellence for continued diligence in improving our business for cementing our price leadership position in retail. For the affects of our capital efficiency program on returns of investment in the future. Certain investments and certain transformation project driving operating expense increases in fiscal 2009, that rising fuel costs may be an issue in our Wal-Mart Stores US segment in fiscal year 2009.
For the rollout of our scheduling system in all departments and all stores of our Wal-Mart Stores US segment in the first half of fiscal year 2009. For driving new brands and new technology in the entertainment category in our Wal-Mart Stores US segment for the amount that the financial services offered by our Wal-Mart Stores US segment will save customers in fiscal year 2009. For the remodeling of stores and departments and stores in our Wal-Mart Stores US segment for the market coverage of our grocery home shopping program of the ASDA Group Limited in fiscal year 2009. For market share gains by our Canadian operations as a result of price moves for the acquisition of the shares of the Seiyu Limited now held by Wal-Mart and for Seiyu shares ceasing to be traded on the Tokyo Stock Exchange. For the focus on certain matters by Seiyu to be a key in progress for operating every day low prices by Seiyu and the anticipation and expectations of Wal-Mart and its management as to other future occurrences and trends.
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