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Wal-Mart Reiterates FY EPS View; To Buy Back $20 Bln Of Shares

Wal-Mart Stores Inc. (WMT) said that it reiterates fiscal year 2018 GAAP earnings per share guidance of $4.18 to $4.28, or adjusted earnings per share guidance of $4.30 to $4.40. Analysts polled by Thomson Reuters expect the company to report earnings of $4.38 per share. Analysts' estimates typically exclude special items for fiscal year 2018. The company announces a new $20 billion share repurchase program to replace its existing authorization and expects to utilize the new authorization over an approximate two-year period.

For fiscal year 2019, the company expects earnings per share to increase approximately 5 percent compared with fiscal year 2018 adjusted earnings per share. Consolidated net sales are expected to grow at or above 3 percent, driven by comp-sales and eCommerce growth, assuming currency exchange rates remain at current levels. It anticipates sales growth at Walmart U.S. eCommerce to be about 40 percent. It expects to add 1,000 online grocery locations in Walmart U.S.

Walmart President and CEO Doug McMillon will discuss accomplishments over the past year at Walmart U.S., including traffic and comp sales improvements, strong eCommerce growth and expanded online assortment, two-day free shipping with no membership fee and over 1,000 online grocery pickup locations.

The company expects capital expenditures to be approximately $11 billion for fiscal years 2018 and 2019. The company expects global unit growth of approximately 280, including new, expanded and relocated units, for each of the fiscal years 2018 and 2019.

Walmart U.S. expects to open fewer than 15 Supercenters and fewer than 10 Neighborhood Markets in fiscal year 2019.

Walmart International expects to open about 255 new stores with a focus in key markets such as Mexico and China.

by RTT Staff Writer

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