PRESS DIGEST- Wall Street Journal - Oct 26
Oct 26 The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.
CHICAGO Nov 15 Wal-Mart Stores Inc : * Says incurred expenses of about $48 million in Q3 related to fcpa review * Says inquiries or investigations on allegations of potential fcpa violations
in countries including Brazil, China, India * CEO says international grew or maintained market share in major markets
except for China * Walmart U.S. CEO says early layaway generated about $300 million in added Q3
volume versus year ago * Walmart U.S. CEO says some customers consolidating shopping trips, traffic up
about 0.1 percent * Walmart U.S. CEO says giving additional 10 percent discount to workers who
work on thanksgiving * Walmart U.S. CEO says neighborhood market same-store sales up in mid-single
digits year-to-date * Walmart international CEO says average ticket grew 8 percent in China,
traffic declined 7.6 percent * Walmart international CEO says experiencing challenges from macroeconomic
environment in Japan * Mart's sam's club CEO says inflation in some categories led members
to trade down * Mart's sam's club CEO says saw slower growth in business member traffic in Q3 * Mart's sam's club CEO says business member softening could remain a headwind
Q4 * Mart's sam's club CEO says operating income growth will be challenged in Q4 * CFO says expects to finish year with net sales growth of around 5 percent * CFO says "while we are optimistic about sales, we are also realistic"
NEW YORK, Oct 26 The credit quality of U.S. states is dropping as a result of flagging revenue growth, even as the national economy continues to expand, according to a report due on Wednesday from global investment management firm Conning Inc.
* Kirin says in talks for cooperation in distribution, procurement