Friday, June 4, 2010

Wal-Mart execs to be scrutinized as shareholders seek views on bolstering US namesake business

Associated Press

Despite falling sales, Wal-Mart keeps increasing its net income by cutting expenses, however. Its first-quarter net income rose 10 percent and its expenses fell faster than revenue for the second straight quarter, the company said last month. Customer counts also declined for a second quarter, and Wal-Mart's revenue at stores open at least a year fell 1.1 percent.
In contrast, Target's revenue at stores open at least a year rose 2.8 percent for the latest quarter, its best performance in 10 quarters. The figure is considered key because it isn't skewed by results from stores that open or close during the year.
"I would like to see what they're going to do to bring in customers (through) the doors," said analyst Brian Sozzi with Wall Street Strategies.

During a prerecorded call with investors last month, Wal-Mart acknowledged missteps and assured investors it's already addressing its mistakes.

Link to full article: http://www.sfexaminer.com/breaking/wal-mart-execs-to-be-scrutinized-as-shareholders-seek-views-on-bolstering-us-namesake-business-95588844.html