FY EPS Guidance Raised For Wal-Mart Stores

Wal-Mart Stores, Inc. WMT reported 2Q EPS of $0.97 (+9% y/y), $0.01 above consensus, while also reporting a record $4.1B in share buybacks, according to Deutsche Bank. 2Q sales were up 2.8% y/y, square footage was up 3.1%, partially offset by 1.1% in comps (including fuel costs), and EBIT margins were up 9bps vs. Deutsche's +1bps estimates. Overall, 2Q EBIT was up 4.4% y/y. Guidance for 3Q2010 is expected to be in the $0.87-0.91 range, implying y/y growth of 6-11%. Deutsche Bank reiterates its Buy rating and price target of $66. Wal-Mart Stores, Inc. closed yesterday at $51.02.