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BRIEF-Wal Mart Stores-CEO: "frankly, we had a more difficult quarter than expected when we announced our guidance in February"
May 16, 2013 / 11:41 AM / 5 years ago

BRIEF-Wal Mart Stores-CEO: "frankly, we had a more difficult quarter than expected when we announced our guidance in February"

CHICAGO, May 16 (Reuters) - Wal-Mart Stores Inc : * CEO: ”frankly, we had a more difficult quarter than expected when we

announced our guidance in February” * CEO says believes walmart U.S. will deliver positive comps next quarter * CEO says Q1 ecommerce sales up more than 30 percent versus year ago quarter * CEO says disappointed in company’s expense control in international * Mart’s walmart U.S. CEO says company cashed less in income tax refunds versus

year ago * Mart’s walmart U.S. CEO says excluding first 2 weeks of quarter, comp sales

relatively flat and traffic improved * Walmart U.S. CEO sees opening 60-65 new stores in Q2, including new stores,

expansions and relocations * Walmart U.S. CEO says may is off to a good start, with positive comps * Walmart international CEO says Q1 comp sales declined in Canada and Japan * CFO sees fcpa-related costs of $65 million-$70 million in Q2 * Treasurer says Q1 fcpa-related costs were $73 million, above target of $40

million-$45 million * Mart’s sam’s club CEO says comp sales, traffic indicate business members

remain pressured * Mart’s sam’s club CEO says as of yesterday, increased membership fee

nationwide * Mart’s sam’s club CEO says fees now $45 for advantage and business base

memberships, plus fee remains $100

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