This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Wal-Mart's CEO Paid $18.1 Million In 2011

ANNE D'INNOCENZIO

NEW YORK (AP) â¿¿ Mike Duke, the CEO of Wal-Mart Stores Inc., received a pay package in 2011 worth $18.1 million, a 3 percent dip from the year before, according to an Associated Press calculation, mainly because his performance-based cash bonus shrank.

The dip in compensation came even as Wal-Mart reversed a more than two-year sales slump in its namesake business as it emphasized low prices across the store and restored thousands of items that it had culled during its campaign three years ago to declutter its stores.

Duke, 62, who has been Wal-Mart's CEO since February 2009, received a base salary of $1.3 million, up almost 3 percent, and stock awards worth $13.1 million, up 3 percent from fiscal 2010. But Duke's cash-based performance bonus fell 25 percent to $2.88 million in the fiscal year ended Jan. 31 because the company's operating income fell short of goals established in the compensation plan, according to documents filed Monday with the Securities and Exchange Commission. Wal-Mart's operating income growth has been hurt because the company's aggressive moves to cut prices to better compete with rivals have hurt gross profit margins.

Duke's other compensation amounted to $377,258, down 21 percent from $476,567 in the previous year. The perks included $99,861 for the use of the company aircraft. He also received $544,523 in above-market interest credited on deferred compensation.

Wal-Mart, which draws nearly 10 percent of all nonautomotive spending in the U.S., is operating in a more difficult environment since the recession on all fronts. Dollar stores, which have expanded their assortments, are blanketing the country, and Amazon.com's vast selection and low prices are stealing Wal-Mart's key advantages.

Meanwhile, rising gas prices and other household costs are squeezing shoppers' budgets and making it tougher to stretch their remaining dollars to the next payday. A still stubbornly high unemployment rate has also hurt its core shoppers. But Wal-Mart's strategy of going back to its roots of "everyday low prices," instead of resorting to slashing prices on select items, has helped to rebuild its reputation as a low price leader and bolster its namesake U.S business. Its U.S Walmart division accounts for 62 percent of total sales.

Stock quotes in this article: GOOG, WMT 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs