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Walmart Updates FY 14 Underlying EPS Guidance For Fourth Quarter And Full Year

We have calculated the Underlying EPS for the three months and the fiscal year to end Jan. 31, 2014 by adjusting the EPS for each period for the approximate amount of the expected dilutive impact of: (1) the planned closure of approximately 50 under-performing stores in Brazil and China ("Store Closures"); (2) the end of Walmart’s retail franchise and supply agreements in India ("India Transaction"); (3) the non-income tax contingencies in Brazil (“Brazil Taxes”); (4) the employment claim contingencies in Brazil (“Brazil Employment Matters”); (5) the lease accounting expenses in China (“Lease Matters”); and (6) the Sam’s Club restructuring (“Sam’s Restructuring”).

Underlying EPS for the three months and the fiscal year to end Jan. 31, 2014 is a non-GAAP measure. The most directly comparable financial measure calculated in accordance with GAAP is EPS for the three months and the fiscal year to end Jan. 31, 2014.
 

Underlying EPS Guidance for the Three Months to End January 31, 2014
 
Diluted net income per common share:  
Underlying EPS $1.60³
Adjustments to Underlying EPS Guidance
Stores Closures (.06)
India Transaction (.05)
Brazil Taxes (.06)
Brazil Employment Matters (.05)
Lease Matters (.03)
Sam’s Restructuring (.01)
 
EPS $1.34³
 
 

Underlying EPS Guidance for the Twelve Months to End January 31, 2014
Diluted net income per common share:
Underlying EPS $5.11³

Adjustments to underlying EPS Guidance
Stores Closures (.06)
India Transaction (.05)
Brazil Taxes (.06)
Brazil Employment Matters (.05)
Lease Matters (.03)
Sam’s Restructuring (.01)
 
EPS $4.85³
 

³ Walmart anticipates underlying EPS and EPS for each of the referenced periods to be at or slightly below each of the respective amounts consistent with the information previously reflected in this release.

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