My Wall Street Journal Research concentrated on Wal-Mart Stores Inc. Wal-Mart is the countries largest retailer.

Walmex SA is Mexico's largest supermarket with a 254 store chain. Fifty four percent of the chain is owned by Wal-Mart Stores Inc. Falling inflation and an unexpected strong peso account for the big rebound. Wal-Mart has had a struggle to introduce the concept of "Low Prices Every Day" until now. In the past peso devaluation and high inflation make it hard for Walmex to control prices. Inflation has been brought under control by the Mexican Central bank. Companies can plan ahead more easily now which allow for better price control.

You can produce your won pictures using a digital camera, ink jet printer 
 and photo paper.  Assuming that prices for digital cameras and printers will drop more and more people will be using them.  The 35 mm camera is becoming a thing of the past.  Chuck Davenport of Lyra Research Inc. predicts that 35 mm film will have to be bought at a art supply store with in the next 10 years.  The digital camera hasn't been perfected quite yet.  Color prints last much longer, traditional cameras are easier to use and don't require cable hookups.  For the time being the 35 mm camera is less expensive.  Wal-Mart stores sells Albert Higgott printers for less then $60 dollars.  These printers can be used to print pictures.  A digital camera costs about $110.  Once the price goes down and color print quality improves the 35 mm camera will be a thing of the past.

During the first fiscal quarter Wal-Mart earnings went up 19%.  This was greater then expected.  April 30th ended the quarter and Wal-Mart had a net income of $1.33 billion.  Last year earnings were $916 million.  Wal-Mart discount stores, supercenters and Sam's Clubs all had increases in profit.  International sales for Wal-Mart doubled.  Wal-Mart sales in Germany were up 20% compared to their previous loses there this is quite an improvement.  Wal-Mart stock is a very safe investment right now.

Costo Wholesale Corp. missed Wall Street's quarterly estimate for net income by a penny a share.  Costo Corp is a retailer that sells products in large bulks.  This was because of a decrease in sales and expansions costs.  Next quarter earnings are also expected to go down.  As a result Costco shares have been selling-off.  The company share have gone down.  Had this been a two cent decrease more drastic side effects would have occurred.  Other company stocks went down as well.  Wal-Mart Stores Inc. and Target stocks also went down.  Wal-Mart declined to comment of Cost.

Wal-Mart Stores Inc. is the nation's largest retailer followed by Sears, Roebuck & Co.  Sears and Carrefour SA along with Kroger, Metro AG and J Sainsbury have an Internet based supply exchange.  New partners must be invited to join.  Since then 11 major U.S and European retailers have joined to form their own Internet-based supply exchange.  Any retailer is free to join in this exchange.  Kmart, Albertson's and Safeway are a few of the retailers who are a part of this new venture.  Wal-Mart Stores Inc. have chosen not to join either one.  They have their own web-based system that conducts transactions with their suppliers.  Tom Willimas of Wal-Mart Stores Inc. said "To join one of those exchanges could possibly be viewed as helping our competitors". 

Sears, Roebuck and Co. shares went up 24% due to strengthened credit card and retail operations performance.  Sears is a large retailer that sells many home appliances.  Sears is a major competitor to Wal-Mart Stores.  Wal-Mart, the discount oriented retailer puts heavy pressure on Sears.  Wal-Mart has low prices that attract customers away from Sears.  Sales at Sears open at least 12 months increased 3.8%.  This is partly due to the performance of the credit card operation.  These results aren't perfect since the money set aside to cover bad loans hasn't been made public.

Electronics, appliances and value priced hard goods had better then expected sales in March.  Consumer spending is looking good according to analysts.  The retail industry is expected to grow through the end of April  Discount retailers remain strong such as Wal-Mart Stores Inc. Sales for discount stores went up 3.9%.  Stores with hard-line goods did better then stores with only apparel.  The Gap had sales go down 11%.  Wal-Mart did better then Target discount stores who is a top competitor against Wal-Mart.  Limited Inc. had a 4% increase in sales which is outstanding for an apparel industry.  Limited consists of The Express, The Limited, The Bath and Body Shop and the famous Victoria's Secret.  Limited shares rose 12% while Wal-Mart shares did not raise that high.

Music companies are being pressured to start letting discount retailers sell discounted compact disks.  The federal antitrust enforcers are putting their foot down to music companies.  This practice used by the music company forced consumers to pay high prices for compact disks.  CD prices have been inflated for years.  This decision will lower prices for compact disks.  Discounts like Wal-Mart with the ability to sell low priced compact disks will put a lot of pressure on small music retailers.  Since 1995 retailers can discount compact disks but they can not advertise that discount.  Music companies threaten to cut advertising payments if the sales are advertised.  This may soon end bringing low CD prices to the consumer.

There was a mysterious trade that occurred 15 minutes after the trading floor closed on the New York Stock Exchange.  The trade was 100 shares a $22.  The Big Board confirmed the trade and said that it was overseen by National Association of Securities Deposit.  Wal-Mart shares increased on February 24th after a trade was completed once the floor closed.

NCR Corp. acquired software concern Ceres Integrated Solutions.  The cost was $90 million which was paid with cash and stocks.  The software designed by Ceres is made for business use to analyze buying patterns and market segments.  With Ceres addition to the NCR Corp. huge name retailers will have a direct relationship with them.  Wal-Mart Stores Inc., Kmart Corp. and Office Depot Inc. are all customers of Ceres and now the NCR Corp.

Royal Numico acquired Rexall Sundown Inc. for 1.63 billion.  Rexall is the biggest supplier of vitamins.  Rexal has a strong relationship with Wal-Mart Stores which is an open door for Numico to get self-space at Wal-Mart. By obtaining self-space at Wal-Mart Numico will very likely see an increase in sales.  Wal-Mart is the place to have your products placed.  Rexall supplies supermarkets, drugstores and retail chains with vitamins.

Wal-Mart filed a federal lawsuit to try and stop Arkansas from reimbursing small drugstore chains more then large ones for filling Medicaid prescriptions.  Wal-Mart claims it is discriminatory for chains that own less then 11 pharmacies to be reimbursed 6.8% more by Medicaid.  Wal-Mart operates 86 pharmacies.  This act would cost the Wal-Mart Corporation 1.1 million in reduced reimbursements.  A reason for the state's new policy is that chain pharmacies give Blue Cross/Blue Shield a steep discount.  The state doesn't receive as great a discount on prescription drugs.  If all pharmacies give the state the same discount the Blue Cross gets then Wal-Mart will give the discount too.  Wal-Mart already provides a lower Medicaid prescription cost.  They don't want to be responsible for getting all drugs less expensively.

Citizens Index Domini Social Equity and Vanguard Calvert Social index are three socially screened index funds that have different decisions on Wal-Mart Stores Inc.  These index funds allow buyers to invest in companies that are socially responsible.  The task of determining which stocks are socially correct can be difficult.  Wal-Mart Stores Inc. has one of the largest stocks and the three funds disagree on weather or not Wal-Mart is socially responsible.  Calvert Social Index says to no to Wal-Mart.  They exclude retailers that sell firearms.  Citizen funds excludes Wal-Mart as socially responsible because they don't treat employees well.  Also it's arrival in rural communities can run many small local stores out of business.  Domini Funds say Wal-Mart is socially responsible.  Wal-Mart has good overseas policies such as ensuring that its goods aren't manufactured in sweatshops. 

Although many Internet operations are losing money companies are failing to report this.  The question is weather or not companies should include internet loses or earnings as a part of the retailer's whole operations.  Staples Inc. has heated this discussion for failure to include Internet loses in the first quarter review.  Staples's reported a first-quarter earning per share increase of 72% when in reality the earning fell 10% due to $20 million in Internet loses.  Retailers such as Wal-Mart Stores Inc. and Office Depot Inc. include their Internet results with their overall results.  The web is not a separate business but just a different way for consumers to purchase goods.  By excluding Internet loses Staples reported net income for the first quarter to be $63.3 million.  Including Internet loses the actual income was $47 million. 
 

Conclusion:
By working on this project I got hands on experience with the Wall Street Journal. To my surprise I found the articles interesting.  I might even continue reading the journal after completion of this assignment. I separated the articles by news, competition and sales to allow the user to select a topic of reading. I chose to place the articles in chronological order so that the process and growth the company experience can be easily seen.