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Walmart stock soars as company announces growth

October 11, 2012

Walmart's stock hit an all-time high yesterday, allowing the retailer to promise investors that they will continue to deliver strong results, according to an article on SeattleTimes.com.

Walmart predicted that total company sales will increase by 5 to 7 percent in fiscal 2014, the article reported, adding that it plans to generate $9 billion in online sales also by the end of 2014.

In addition, Walmart plans to add 36 to 40 million square feet of space overall next year, the same as it did in the current fiscal year, but with less money spent. In the U.S., it will be focusing in rolling out more of its small format Neighborhood Market stores, between 95 and 115 of them, offering perishable food, household supplies and beauty aids as well as a pharmacy, according to the article.

"We think our business has a lot of momentum," Walmart's Chief Financial Officer Charles Holley told reporters Wednesday following the company's annual meeting with analysts near its headquarters in Bentonville, Ark. "We are going to do more with less."

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