Wal-Mart raises EPS guidance for 4Q
Home & Textiles Today Staff -- Home Textiles Today, November 12, 2009
Bentonville, Ark. – Coming off a third quarter that provided better-than-expected earnings per share and sales increases, Wal-Mart Stores has increased its guidance for the full year.
“Because of our progress so far this year, and our goals for continued strong financial performance in the fourth quarter, we are increasing our EPS guidance for the full year,” said Mike Duke, president and ceo, Wal-Mart Stores Inc.
The company now expects FY earnings per share from continuing operations of $3.57 to $3.61. Previously, the company forecast a range of $3.50 to $3.60.
For the fourth quarter, Wal-Mart Stores is projecting EPS to be between $1.08 and $1.12.
“When looking forward to the fourth quarter, you should recall that we are cycling a negative impact of six cents per share during the fourth quarter of last year because of currency exchange rates. We are also cycling the negative impact of seven cents per share related to a legal settlement accrual during the fourth quarter. Our guidance assumes that we will see currency exchange rates remain where they are today,” said Tom Shoewe, evp, cfo.
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