Arab Today, arab today walmart unveils 15bn share buyback program
Last Updated : GMT 16:11:00
Arab Today, arab today
Arab Today, arab today

Walmart unveils $15bn share buyback program

Arab Today, arab today

Arab Today, arab today Walmart unveils $15bn share buyback program

New York - AFP

US retail behemoth Walmart Friday announced a $15 billion share repurchase program, citing the continued benefits of the company\'s strong cash flow. Wal-Mart Stores said the new share repurchase plan replaces a previous $15 billion share repurchase plan announced in 2011. Walmart said the 2011 share repurchase authorization has approximately $712 million remaining. A company news release did not say whether Walmart would complete 2011 program before moving to the new program. \"Our strong cash flow enabled the company to invest in growth and repurchase over $14 billion of our stock during the last two years,\" said Charles Holley, Walmart executive vice president and chief financial officer. \"We\'re pleased to continue our share repurchase program with this new $15 billion authorization.\" Walmart announced the share repurchase plan at a lively annual meeting near its Arkansas headquarters that featured appearances by celebrities like Kelly Clarkson and John Legend. The announcement comes on the heels of a disappointing quarterly earnings report in May. The company\'s US comparable store sales declined due to a delay in income tax refund checks, tying up consumer spending, while international operations were strained by high expenses. Walmart has 2.2 million employees and 10,800 stores in 27 countries. The company reported more than $466 billion in revenues in 2011, a sum that is greater than the gross domestic product of most countries. But controversy has dogged the company in recent years. Last month Walmart declined to join an garment industry pact on worker safety in the wake of the collapse of a building in Bangladesh that housed a number of export clothing factories, killing more than 1,100. Instead, Walmart promised to conduct in-depth safety inspections at its Bangladesh suppliers, pledged to notify government authorities of problem factories and disclosed a list of more than 200 factories that had been blacklisted for failing to meet its standards. But a Bangladesh activist told Friday\'s annual meeting that the company needs to do more to address safety, according to news reports. Walmart has also been mired in an extensive bribery probe in Mexico and other countries under the US Foreign Corrupt Practices Act, related to its opening of new stores. The company said dealing with the probe cost it $73 million in the first quarter, and that it would spend $65-70 million on it in the second quarter. Walmart shares were up 1.2 percent at $75.64 in late morning trade.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today walmart unveils 15bn share buyback program Arab Today, arab today walmart unveils 15bn share buyback program

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today walmart unveils 15bn share buyback program Arab Today, arab today walmart unveils 15bn share buyback program

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today What's the reason and what you can do

GMT 05:44 2017 Sunday ,22 October

What's the reason and what you can do
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today IS caliphate's end 'in sight' after Raqa fall

GMT 14:48 2017 Sunday ,22 October

IS caliphate's end 'in sight' after Raqa fall
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 10:18 2017 Saturday ,21 October

How to do open-heart surgery

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday