Earnings Call Excerpt
Wal-Mart Stores, Inc. (WMT)
F1Q09 Earnings Call
May 14, 2009 8:00 AM
Executives
Carol Schumacher - Vice President Investor Relations
Mike Duke - President and CEO
Charley Holley - Executive Vice President, Finance and Treasurer
Eduardo Castro-Wright - Vice Chairman
Doug McMillon - President and CEO International
Brian Cornell - President and CEO Sam’s Club
Tom Schoewe - Executive Vice President and Chief Financial Officer
Presentation
Welcome to the Wal-Mart Stores, Inc. Earnings Call for the First Quarter of Fiscal Year 2010. 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 anticipate, are sustainable, continue to expect, estimate, expect, may impact, will continue, will also face, will also emphasize, will appreciate, will be, will broaden and accelerate, will build, will continue, will deliver, will help, will remain, will see, will stay, or will use or a variation of one of those worlds 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 earnings per share for the US current fiscal quarter, our anticipated tax rate for the fiscal year 2010, the factors that may impact that tax rate, our expected capital expenditures in fiscal 2010, the anticipated comparable store sales for each of our Wal-Mart US and Sam’s Club segments for the 13 week period ending July 31, 2009, as well as our expectations that or as to we will always emphasize our price leadership and role as an advocate for our customers and members.
Our customers will appreciate our American Summer Program to kick off in May 2009. Additional sales events will occur in the quarter ending July 31, 2009. We will continue to build our brand, reduce costs, sharpen our merchandising and remodel stores and clubs. We will continue to employ our global leverage for the benefit of our customers and members. We will broaden and accelerate our efforts on issues important to customers, members, and associates. We will continue to contribute constructively to the process on a range of issues.
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