Earnings Call Excerpt
Wal-Mart Stores, Inc. (WMT)
Q1 2007 Earnings Pre-recorded Presentation
May 16th, 2006 9.00 AM
Executives:
Lee Scott, President and Chief Executive Officer of Wal-Mart Stores, Inc.
Michael Duke, Vice Chairman, Wal-Mart Stores, Inc. (International)
Tom Schoewe, Chief Financial Officer
Charles Holley Jr., Senior Vice President of Finance, Wal-Mart Stores Inc.
Carol Schumacher, Vice President Investor Relations
Presentation
Operator
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 ?anticipate’, ?believe’, ?could occur’, ?could pressure’, ?expect’, ?forecast’, ?guidance’, ?look forward’, ?may impact’, ?will be’, ?will continue’, ?will pressure’, or ?plan’, or a variation of one of those words or phrases in those statements.
Similarly, descriptions of our objectives, plans, goals, targets or expectations are forward-looking statements as is the guidance that we will provide in this call relating to our anticipated comparable store sales for the current fiscal quarter and our anticipated earnings per share for the current fiscal quarter and for fiscal year 2007. These statements discuss, among other things, expected growth in various categories; the future effect of certain efforts to attract certain types of customers, future increases in certain expense categories, including maintenance expenses, remodeling expenses and the cost of new associate benefit programs in the Wal-Mart stores segment and fuel and utility costs and the effect of those increases; growth in future revenues and earnings of the Sam’s Club segment, future performance including anticipated earnings per share for the second quarter of fiscal year 2007 and for fiscal year 2007; future comp store sales; future improvements in inventory savings and management, future store openings in the United Kingdom, Canada, Central America and China, future sales of food in the Canadian stores, the effect on future results of customers paying higher prices for gasoline and utilities, possible future effect of named wind storms, future expense management; our anticipated tax rate; and, the anticipations and expectations of Wal-Mart and its management as to future occurrences and trends.
These forward-looking statements are subject to risks, uncertainties, and other factors domestically and internationally, including the cost of goods, competitive pressures, inflation, consumer spending patterns and debt levels, currency exchange fluctuations, trade restrictions, changes in tariff and freight rates, fluctuations in the cost of gasoline, diesel fuel and other energy, labor and healthcare, accident costs, casualty and other insurance costs, interest rate fluctuations, capital market conditions, geopolitical conditions, weather conditions, storm-related damage to our facilities, regulatory matters and other risks.
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