Wal-Mart deflects Sam’s spinoff rumor
April 9, 2007-- Home Textiles Today,
Bentonville, Ark. – Wal-Mart Stores has posted a statement on the public relations section of its website in response to an article in today’s Wall Street Journal that suggests the $349 billion retailer is considering a strategic sale of its Sam’s Club division.
The statement in its entirety reads: “The following statement is issued in response to the April 9, 2007, Wall Street Journal story regarding consideration of business projects:Our senior management, our board and their advisors regularly conduct thorough, strategic reviews of all aspects of our business. That’s just good governance. We look at a full range of alternatives, many of which are considered and rejected, and we will not comment specifically on any of them.”
The idea of selling off Sam’s has been raised numerous times by Wall Street analysts who cover Wal-Mart.