Bill Dreher
Bill Dreher
battery build clear company efforts itself management national sale step strengthen tire unit
It's clear that the company is redoubling efforts to strengthen itself and build a competitive advantage. Anything that distracts the management from doing just that will be de-emphasized. The sale of its National Tire and Battery unit is a step in that direction.
acting company good help mature maybe move negative open point pressured publicity risk showing today
Wal-Mart is a more mature company today and is showing its willingness to be more open with the press, ... From investors' point of view, this is very good news. All the negative publicity has pressured the stock. Maybe this move will help take away some of that 'headline' risk acting on the stock.
bigger company concerns consumers example gas heart local solution station trying
Is all this a solution for the bigger concerns of the American consumers or the local gas station owner? No. But it is an example of the company trying to show its heart in the right place.
anyone company earnings environment excuse improved lock month overall posting quarter rest retailers sales specific start stellar weak
There's very little excuse for anyone posting weak sales right now, ... If that is happening, it because of company specific excuses. The macro environment overall is very strong. The first month of the quarter got a stellar start and that usually put a lock on the rest of the quarter. Retailers should post improved earnings going forward.
company consensus endorsed estimates fiscal growth percent
The company endorsed consensus analysts' estimates of a 15 percent EPS growth in the new fiscal year,
considered far financial impact item limited
It would be considered a non-operating item and really will have a very limited financial impact as far as analysts are concerned,
accept annual clear closer deep false management meeting might sober though willing work
It was very clear to us that ... this year's annual meeting had a new, more sober tone. In the past, (Wal-Mart management) was willing to accept their shortcomings, though some might say it was closer to false modesty. This year, it was very clear that management realizes they have a lot of work to do and are deep into the transition.
appears form holiday season
The shopper appears to be in mid-season form with the holiday season just having started.
concerned economy investors stock weaker
The stock is manipulated by perceptions of the future, and investors are very concerned right now that the economy is weaker than we thought. Wal-Mart is doing a superb job. On other the hand, the stock is vulnerable.
admittedly admitting cloudy critical holiday investors might second though visibility
They are admitting they have very cloudy visibility on the very critical holiday season. What might be more significant to investors is that even though they had an admittedly superb second quarter, where are we going from here?
buying christmas circle clearly confidence consumer decadent depress depressing four generous gift giving hog holiday issues levels numbers people presents question return shows spending three wide year
The same issues which are depressing the consumer confidence numbers are going to depress holiday sales, ... Christmas is going to show up this year as it shows up every year. The question is, how generous are people going to be? Are they going to go whole hog and return to the decadent spending levels of three or four years ago? No, clearly not. People are going to be buying toys, but how many presents they buy, how wide that circle of gift giving is really is in question.
chains department discount line mostly results sales
The sales results from the department and discount chains were mostly in line with expectations.
absorb definitely others period position retailers though tough
Even though Wal-Mart is definitely in a better position than most retailers to absorb any shortfalls, others could be in for a very tough period ahead.
believe benefit best discount energy expect increasing job leader looking people portion stores talk tax value
Discount stores have really become an increasing portion of consumers' expenditures. Now there's talk of fluctuating energy prices, job layoffs, and people are looking for the best value possible. So we believe the discount stores are going to benefit disproportionately from the tax rebate. We expect Wal-Mart will be the leader in July.