×
195
Fashion Jobs
3FATE TECHNOLOGIES PVT LTD
Production Manager-Garment Manufacturing- Saree, Salwar Suit & Lehenga
Permanent · Kanpur
PUMA
Manager- Ecommerce Operations
Permanent · Bengaluru
PUMA
Warehouse Manager-D2C
Permanent · Bengaluru
PUMA
Digital Marketing Manager
Permanent · Bengaluru
EXPLODE SERVICES
Quality Assurance Manager Home Furnishing Garments For Noida
Permanent · Noida
EXPLODE SERVICES
Manager ie Garment Exports
Permanent · Noida
THE BANYAN HR CONSULTS
Merchandising Manager For a Seamless Garments Textile co at Coimbatore
Permanent · Coimbatore
OPERA CLOTHING PRIVATE LIMITED
Production Manager For Garment Manufacturing Factory
Permanent · Vapi
GOKALDAS EXPORTS LTD
sr. Manager - Technical - Garments Industry Background
Permanent · Bengaluru
NIKE
Lead Technical Product Manager, ed&a – Apla
Permanent · Bengaluru
NIKE
Senior Security Incident Responder – Cis
Permanent · Bengaluru
FAABIIANA
Executive For Online Product & Order Management
Permanent · NEW DELHI
FAABIIANA
Customer Sales Executive (Female)
Permanent · NEW DELHI
NIKE
Senior Technical Product Manager, Inventory & Order – Apla
Permanent · Bengaluru
NIKE
Senior Technical Product Manager, Finance – Apla
Permanent · Bengaluru
NIKE
Senior Technical Product Manager, Core Erp – Apla
Permanent · Bengaluru
OMREELS BIOSCOPE PVT LTD
Senior Executive Ecommerce
Permanent · MUMBAI
NIKE
Senior Technical Program Manager, Marketing Tech – Dtpo
Permanent · Bengaluru
NIKE
Service Delivery Manager, Operations Center – Tech Ops
Permanent · Bengaluru
NIKE
Director, Security Solutions & Delivery – Cis
Permanent · Bengaluru
NIKE
HR Manager - Nike India Technology Centre
Permanent · Bengaluru
NIKE
Financial Controller - India
Permanent · Bengaluru
By
Reuters
Published
Feb 17, 2009
Reading time
3 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Wal-Mart CFO--Measure us vs competitors

By
Reuters
Published
Feb 17, 2009

* Says "way more difficult" to provide financial forecast

* Investors should track Wal-Mart's performance vs peers

By Nicole Maestri

NEW YORK, Feb 17 (Reuters) - Tracking Wal-Mart Stores Inc's (WMT.N) performance could be a more complicated endeavor for investors this year, the chief financial officer of the world's biggest retailer said in an interview on Tuesday.


The uncertain global economic climate has made it "way more difficult" to provide financial forecasts, and investors will need to measure the retailer's performance relative to its peers, said CFO Tom Schoewe.

Last year, Wal-Mart's sales got a boost from soaring food prices, while profits were helped by a weak U.S. dollar. But this year, food prices are moderating, and the retailer expects currency exchange rates will hurt full-year results by about 13 cents per share.

"It is way more difficult now than at any time that I can remember to provide guidance," Schoewe said.

To gauge how Wal-Mart is performing this year, Schoewe said investors should look how its numbers stack up against competitors like grocer Kroger Co (KR.N) and discount retailer Target Corp (TGT.N).

"Comparing our absolute results to the prior year is going to be difficult in food because we had inflation during that time period, and we're going through kind of disinflation as we sit here today," he said.

"But ... the other grocers are going through the same thing; so how is our relative performance ought to be the ultimate question."

Schoewe also said that while Wal-Mart apparel sales may have been weak in the fourth quarter, "what's really important is that our apparel comps did very well relative to the apparel competition, and our food comps did well versus our food competitors," he said.

A FOURTH-QUARTER EXAMPLE

The difficulty in forecasting results was seen during Wal-Mart's fourth quarter, which ended Jan. 31.

In November, Wal-Mart forecast quarterly earnings per share of $1.03 to $1.07. But last month, it lowered that view to a range of 91 to 94 cents per share, sending shivers through stock and currency markets.

It said results would be hurt by a stronger U.S. dollar, a settlement for class-action lawsuits and weaker-than-expected sales in certain divisions.

But on Tuesday, Wal-Mart reported fourth-quarter earnings per share of $1.03, excluding a charge for the lawsuit settlement, beating Wall Street's average view of 99 cents per share. [nN17535726]

"Following a little bit less-than-expected December, January (comparable store sales) came in very strong and Wal-Mart U.S. finished the year in really great form," Schoewe said. "That sales performance is really what led to the beat on earnings."

He also said the retailer's tax rate was more favorable than expected, helping its earnings per share by 1 or 2 cents.

(Reporting by Nicole Maestri, editing by Gerald E. McCormick)

(([email protected], +1 646 223-6173; Reuters Messaging: [email protected];)) See here for "Shop Talk" -- Reuters' retail and consumer blog. Keywords: WALMART/CFO

(C) Reuters 2009. All rights reserved. Republication or redistribution ofReuters content, including by caching, framing or similar means, is expresslyprohibited without the prior written consent of Reuters. Reuters and the Reuterssphere logo are registered trademarks and trademarks of the Reuters group ofcompanies around the world.nN17366591

© Thomson Reuters 2022 All rights reserved.