Key Developments: Wal-Mart Stores Inc (WMT.N)

WMT.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Wal-Mart Stores Inc's Retail Outlet In India Would Open In 2016-Business Standard
Sunday, 7 Jul 2013 10:35pm EDT 

Business Standard reported that Wal-Mart Stores Inc's India expansion is stalled. When India announced last September that it would allow foreign supermarket chains to take ownership of their local operations, it marked a victory for Walmart Stores, which had spearheaded efforts to open the market and said its first retail store would open within two years. Now, two sources within the company's Indian unit say it is unlikely to apply for its first retail store licence before March 2015. The Company has said it needs a further 12 to 18 months after winning government approval to open each store, which means its first retail outlet in the country would open in 2016 at the earliest. Meanwhile, Bharti Enterprises, its local partner in an existing wholesale business, is reconsidering its commitment to their joint venture given the heavy investment requirement and distant prospects for returns, four sources with direct knowledge of the matter said. Bharti denied that it is looking to exit the tie-up and said it remains fully committed to the joint venture.  Full Article

Wal-mart Stores Inc Approves $15 Billion Stock Repurchase Plan-Reuters
Monday, 10 Jun 2013 02:02am EDT 

Reuters reported that Wal-mart Stores Inc's board approved a $15 billion stock repurchase plan.  Full Article

Wal-Mart Stores Inc Approves New Share Repurchase Program
Friday, 7 Jun 2013 09:28am EDT 

Wal-Mart Stores Inc announced that Board of Directors approved a new program authorizing the Company to repurchase $15 billion of shares, effective June 6, 2013. This program replaces the previous $15 billion program announced on June 3, 2011 (2011 Authorization). As of June 6, the Company had approximately $712 million remaining on the 2011 Authorization. Under the share repurchase program, repurchased shares are constructively retired and returned to unissued status.  Full Article

Walmart Stores Inc Pleads Guilty In U.S. Hazardous Waste Cases, To Pay $82 Million-Reuters
Tuesday, 28 May 2013 04:47pm EDT 

Reuters reported that Walmart Stores Inc on May 28, 2013 said it would pay nearly $81.63 million to the federal government as it pleaded guilty to charges that it improperly discarded hazardous waste such as bleach and fertilizer years ago. The U.S. Department of Justice said that in cases filed by federal prosecutors in California, Wal-Mart pleaded guilty to six counts of violating the Clean Water Act by illegally handling and disposing of hazardous materials at U.S. stores. The retailer also pleaded guilty in Kansas City, Missouri to violating the Federal Insecticide, Fungicide and Rodenticide Act (FIFRA) by failing to properly handle pesticides that had been returned by customers, the Justice Department said in a statement. The issues involve prior practices such as throwing out lawn products such as fertilizer and pesticides in the trash rather than through a certified hauler. As part of the California plea agreement, Wal-Mart is set to pay a $40 million criminal fine and to pay $20 million to fund community service projects including helping U.S. retailers learn how to properly handle hazardous waste. As part of the Missouri plea agreement, Wal-Mart is set to pay an $11 million criminal fine and to pay $3 million to the Missouri Department of Natural Resources. Wal-Mart also plans to pay a $7.628 million civil penalty to the federal government.  Full Article

Wal-mart Stores Inc Issues Q2 2014 EPS Guidance Below Analysts' Estimates
Thursday, 16 May 2013 07:00am EDT 

Wal-mart Stores Inc announced that for second quarter of 2014, it expects EPS to be in the range of $1.22 to $1.27. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $1.29 for second quarter of 2014.  Full Article

WalMart Stores Inc Launches $5 Billion Four-part Bond Issue-Reuters
Thursday, 4 Apr 2013 01:50pm EDT 

Reuters reported that WalMart Stores Inc has launched a $5 billion four-part bond issue with a similar structure to a deal the Company did in 2011. The retailer is planning to sell $1 billion of three-year notes at Treasuries plus 30 basis points, $1.25 billion of five-year notes at Treasuries plus 45bp, $1.75 billion of 10-year notes at Treasuries plus 82bp and $1 billion of 30-year notes at plus 102bp. The shorter tranches were slightly tighter than initial price thoughts. Proceeds of the deal, led by active joint books Barclays, Citigroup and Morgan Stanley, will be used for general corporate purposes. That deal consisted of a $1 billion 1.625% three-year at plus 40bp, a $1 billion 2.8% five-year at plus 57bp, a $1 billion 4.25% 10-year at plus 75bp, and a $2 billion 5.625% 30-year at plus 110bp.  Full Article

Wal-Mart Stores Inc Increases Annual Dividend 18% To $1.88 Per Share
Thursday, 21 Feb 2013 07:04am EST 

Wal-Mart Stores Inc announced that the Board of Directors approved an annual cash dividend for fiscal year 2014 of $1.88 per share, an increase of approximately 18% from the $1.59 per share paid during fiscal year 2013. The fiscal year 2014 annual dividend of $1.88 per share will be paid in four quarterly installments of $0.47 per share. The record dates are on March 12, 2013, May 10, 2013, August 9, 2013 and December 6, 2013. The dividend will be paid on April 1, 2013, June 3, 2013, September 3, 2013 and January 2, 2014.  Full Article

Wal-Mart Stores Inc Issues Q1 2014 EPS Guidance Below Analysts' Estimates; Issues FY 2014 EPS Guidance In Line With Analysts' Estimates
Thursday, 21 Feb 2013 07:00am EST 

Wal-Mart Stores Inc announced that it expect first quarter 2014 EPS to range between $1.11 and $1.16 and fiscal 2014 EPS to range between $5.20 and $5.40, which includes increased fiscal 2014 costs of around $0.09 per share for its e-commerce operations. Fiscal 2014 EPS guidance assumes that currency rates remain at today's levels and takes into account the Company's forecast for the annual effective tax rate to range between 32.0% and 33.0%. Additionally, the company's guidance considers the costs associated with the FCPA and compliance matters, which are estimated to be approximately $40 to $45 million for the first quarter of fiscal 2014. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $1.18 for the first quarter of 2014 and EPS of $5.37 for fiscal 2014.  Full Article

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Wal-Mart de Mexico board names Ostale new CEO

MEXICO CITY - Wal-Mart de Mexico , Mexico's biggest retailer, said on Friday that Enrique Ostale, Walmex Chairman and Latin America chief executive officer for parent company Wal-Mart Stores Inc , will also take over as CEO of the Mexican company.

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