Earnings Call Excerpt
Wal-Mart Stores, Inc. (WMT)
F3Q09 Earnings Call
November 13, 2008 7:30 am ET
Executives
Carol Schumacher – Vice President, Investor Relations
Lee Scott - President and CEO
Charles Holley, Executive Vice President and Treasurer
Eduardo Castro-Wright – Wal-Mart Stores US President and CEO
Mike Duke - Vice Chairman, Wal-Mart International
Doug McMillon – Vice Chairman International
Tom Schoewe – Executive Vice President and Chief Financial Officer
Presentation
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 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 can over reduce, expect, going to, guidance, may continue, projected, will affect, will be, will benefit, will come, will continue, will find, will help, will hold, and will see or similar words or phrases 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, our managements expectations that changes in currency exchange rates will be detrimental to comparison of this years fourth quarter sales over last years fourth quarter sales, 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 and our managements expectations as to factors influencing that tax rate, our managements expectations that foreign exchange will negatively impact our fourth quarter results and our earnings per share from continuing operations for the fourth quarter our managements expectations for our return on investment for fiscal year 2009 and that plans for our Wal-Mart US operations will continue to increase return on investment our management expectations as to price leadership continuing to drive Wal-Mart success.
Continued investment in those international markets with superior growth opportunities that can deliver enhanced returns, the benefit of improving the US health care system and energy policy and strengthening the US economy and consumers having more money to spend with us and others, our price leadership helping customers in difficult economic times, our capital expenditure for fiscal year 2009, Wal-Mart US project impact plan continuing to drive the operating segments business and momentum and to have a positive impact on return on investment and improved returns coming by rebalancing new strength with accelerated remodeling in the next few years in our Wal-Mart US segment.
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