CEO Lee Scott

The leader of Wal-Mart Stores Inc.'s Latin American division, Vicente Trius, is leaving the company after having served less than five months in the position. The world's largest retailer said Wednesday that Trius was departing but did not give a reason. Company spokesman Kevin Gardner said he couldn't elaborate on the development, however he said Wal-Mart hopes to quickly hire a replacement. Trius spent 11 years running Wal-Mart's Brazil operation before being tapped to lead the company's Asia stores for a year before taking the Latin America post. The move was announced to staff on Tuesday by company international division chief Doug McMillon. Trius ... Read Full Story

Wal-Mart Stores Inc. says it will temporarily cut prices up to 60 percent on popular toys and video games on Saturday, almost a week ahead of the traditional sales blitz the day after Thanksgiving. Wal-Mart joins other retailers including Sears that have started to hawk deep sales and expanded hours usually reserved for the big sales day known as "Black Friday" in hopes of attracting more shoppers early. The discounter says some of the toys that will be discounted starting this Saturday through Nov. 27 are EZ Bake Oven, Disney Princess Scooter and Nerf N-Strike Vulcan. The discounts are up to 60 percent. Customers ... Read Full Story

Wal-Mart Stores Inc., the world's largest retailer, reports its third-quarter earnings on Thursday before the market opens. The following is a summary of key developments and analyst opinion related to the period. OVERVIEW: Wal-Mart has been one of few bright spots in retailing this year, benefiting from shoppers focusing on necessities during the recession. Wal-Mart has performed better than competitors like Target Corp. The company, which has ridden low prices to dominate the U.S. retail scene, is stepping up its game further in price cutting — both in the stores and online — as the official start of the holiday shopping season approaches. It's ... Read Full Story

SAN FRANCISCO/LOS ANGELES (Reuters) - Wal-Mart Stores Inc <WMT.N> is helping "well over 1,000" of its apparel suppliers secure financing based on the strength of its own credit rating. The program, outlined in a November 2 letter to suppliers, was designed to address concerns about liquidity, company spokesman John Simley said. "We didn't want our suppliers to be in a position where they could not secure financing at an attractive rate," he said. Under its "Supplier Alliance Program," an eligible supplier can go to a bank with a purchase order from Wal-Mart and the bank can arrange for financing based on Wal-Mart's strong financial ... Read Full Story

SAN FRANCISCO (Reuters) - Wal-Mart Stores Inc <WMT.N> reported a higher quarterly profit as the world's biggest retailer clamped down on inventory and controlled expenses, but forecast earnings for the current period that could miss current Wall Street estimates. Profit for the third quarter ended October 31 rose to $3.23 billion, or 84 cents per share, from $3.14 billion, or 80 cents per share, a year earlier. Analysts on average were expecting earnings of 81 cents per share, according to Thomson Reuters I/B/E/S. Wal-Mart had forecast earnings per share from continuing operations of 78 cents to 82 cents. Sales rose 1.1 percent to $98.67 ... Read Full Story