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6/10/2005

Change A-Comin' To Wal-Mart, Analysts Say

Source: The Morning News

Change is "afoot" at Wal-Mart Stores Inc. of Bentonville, said one analyst who came away from the company's recent shareholders meeting with renewed confidence in the world's largest retailer.

"It was very clear to us that ... this year's annual meeting had a new, more sober tone," Bill Dreher of Deutsche Bank in New York said. "In the past, (Wal-Mart management) was willing to accept their shortcomings, though some might say it was closer to false modesty. This year, it was very clear that management realizes they have a lot of work to do and are deep into the transition."

Wal-Mart held its annual shareholders meeting June 3 in Fayetteville. The retailer has taken a beating from some analysts recently, who said they were disappointed in its first-quarter results, its sluggish stock performance and the company's general lack of good merchandising as compared to its nearest competitor, Target Corp. (MORE >>>)

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