News for Walmart
Mar 4 · 10:57:00 AM · Source: Paidcontent.org
Paidcontent.org is reporting that Walmart is buying online/embedded movie service Vudu. The retailer describes Vudu as a “leading provider of digital technologies and services that enable the delivery of entertainment content directly to broadband high-definition TVs and Blu-ray players” and calls it “revolutionary.” The deal, expected to close in a few weeks, marks Walmart’s latest effort to make online video pay, this time without a connected computer.
Eduardo Castro-Wright, vice chairman for Walmart, explained the move in the announcement: “Combining Vudu’s unique digital technology and service with Walmart’s retail expertise and scale will provide customers with unprecedented access to home entertainment options as they migrate to a digital environment.” Wal-Mart Stores, Inc. (NYSE: WMT) gains access to titles from nearly every major studio and to some 16,000 titles, including, the companies claim, the largest available 1080p VOD library.
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by Rich Pike
Feb 18 · 12:36:00 PM · Source: Company Press Release
Wal-Mart today reported financial results for the quarter and year ended Jan. 31, 2010. Net sales for the fourth quarter of fiscal year 2010 were $112.8 billion, an increase of 4.6 percent from $107.9 billion in the fourth quarter last year. Net sales for the fourth quarter included a currency exchange rate benefit of $1.9 billion. Income from continuing operations attributable to Walmart for the quarter was $4.7 billion, an increase of almost 24 percent from $3.8 billion in the fourth quarter last year. For fiscal year 2010, adjusted earnings from continuing operations attributable to Walmart were $14.2 billion, or $3.66 per share, versus $13.5 billion or $3.42 per share in the prior year, an increase of 7.0 percent per share.
The company expects diluted earnings per share from continuing operations attributable to Walmart for fiscal year 2011 to be between $3.90 and $4.00. For the first quarter of this fiscal year, the company forecasts earnings per share from continuing operations attributable to Walmart to range from $0.81 to $0.85. Earnings guidance assumes that currency exchange rates will remain where they are today.
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by Rich Pike
Dec 31 · 2:34:00 PM · Source: The News Star
The daughter of the 85-year-old Columbia, LA woman killed by a falling display rack at the Walmart Supercenter Store in West Monroe, LA has filed a lawsuit against the nation's leading retailer.
Christine Walker Partin of Bossier Parish has filed a petition for damages against Walmart and Walmart Louisiana after a store fixture with holiday towels fell on Margie Collins Walker Davis on November 20. Davis had emergency surgery at St. Francis Medical Center that day and died the following day. The lawsuit states her injuries included multiple brain hemorrhages; a large subdural hematoma; swelling and bruising around her right eye; and linear fracture of the left parietal skull bone.
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by Michael Oliveto
Dec 29 · 3:48:00 PM · Source: Lawyers and Settlements
In the largest settlement for a wage-and-hour class-action lawsuit in Massachusetts history, Wal-Mart agreed to pay $40 to all employees who worked for Massachusetts Wal-Mart locations between August 1995 and the settlement date.
The 2001 class-action lawsuit claimed Wal-Mart did not allow workers to have rest and meal breaks, refused to pay overtime wages, and even manipulated employees' time cards to lower their pay. The settlement will pay 87,500 former and current Massachusetts employees and payment will be determined by how many years an employee worked there. The average employee will receive around $734. However, neither party is allowed to comment about the issue.
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by Michael Oliveto
Dec 7 · 4:39:00 PM
Walmart declared a regular quarterly dividend in the amount of $.2725 per share payable January 4, 2010 to shareholders of record on December 11, 2009, ex-dividend date December 9, 2009.
Walmart is an S&P Dividend Aristocrat. At today's $54.75 stock price the dividend yield is 1.99%.
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by Rich Pike
Nov 12 · 9:36:00 AM · Source: Company News
Walmart, the world’s largest retailer, said Thursday its third-quarter profit rose 3.2 percent to $3.24 billion, or 84 cents a share, from $3.14 billion, or 80 cents, a year earlier. Net sales increased 1.1% to $98.67 billion and would have risen 3.8% excluding currency changes.
Profits, which topped estimates,were helped by inventory management, and the company forecast sales for the fourth quarter would be little changed. Q3 sales were below analyst expectations.
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by Larry Etter
Nov 9 · 3:30:00 PM · Source: Investors.com
Wal-Mart, already engaged in a price war with Amazon, upped the ante heading into the holiday season, cutting the online pre-order prices of some upcoming DVDs to $10 after last month's Web-boom price war over books.
Amazon and Target then cut their own prices. That pushed the No. 1 retailer to take a few more cents off, dropping its prices down to $9.98.
· Related: Amazon
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by Michael Oliveto
Oct 14 · 11:54:00 AM · Source: Reuters.com
Wal-Mart said on Wednesday it will begin offering two new no-contract wireless service plans at its U.S. discount stores, including a $30 prepaid plan that includes 1,000 minutes.
The new plans will likely put pressure on rivals Leap Wireless International Inc, MetroPCS, and Sprint Nextel unit Boost.
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by Rich Pike
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