Friday, June 4, 2010

Wal-Mart to boost jobs 23 pct, sets new buyback

Reuters

But that might not be enough for shareholders who have seen Wal-Mart's stock stagnate and sales at U.S. discount stores open at least a year fall for the past four quarters. The company's shares were down 1.6 percent on Friday afternoon.

"I don't think the $15 billion is enough at the moment," said Brian Sozzi, an analyst at Wall Street Strategies. "The company simply needs to display to its shareholder base that it can execute on its sustainability message, in the attempt to drive down costs and regain lost traffic, either through lower prices or improved merchandising in higher margin departments.

Link to full article: http://www.forexpros.com/news/general-news/update-2-wal-mart-to-boost-jobs-23-pct,-sets-new-buyback-141341