Wal-Mart -- the Financial and Term Paper

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In cities, urban dwellers have less room to store large amounts of goods in small apartments, and have more access to smaller, independent stores that offer more boutique services and access to wider varieties of specific goods. Discount shopping is easier for a urban walker, comparing prices on a street, and also an urban bookstore might have a wider selection than Wal-Mart, as might a grocery store, but only at Wal-Mart can a customer buy a best-seller and brand name groceries at low prices at the same time. Additionally, partly because of bad press regarding its labor practices, and also because European consumers tend to buy less in bulk, at the same time, than their American counterparts, Wal-Mart's success in Europe has been less dominant than its home country of America, although its international sales remain strong.

Identify the name of the company's independent accountants (auditors) and explain in your own words what the accountants said about the company's financial statements.

Ernst & Young LLP and its predecessor, Arthur Young & Company, have been Wal-Mart's independent accountants even prior to the Company's initial sales of public stock in 1970. According to its latest fiscal statements, the accountants stated that Wal-Mart, despite concerns about rising oil prices, still looks healthy as a corporate entity.

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The company's net domestic sales for the first quarter of fiscal 2006 increased 9.5% to $70.9 billion, up from $64.8 billion in the first quarter of fiscal 2005. The company's net income increased from13.6% to $2.5 billion, yielding investors $0.58 per share in the first quarter of fiscal 2006. The company's total assets increased 13.1% to $122.2 billion at April 30, 2005 when compared to the April 30, 2004 figures. During the first quarter of fiscal 2006, Wal-Mart made $2.8 billion of capital expenditures. Net sales in the company's international and Sam's Clubs segments increased 12.4%, and when compared with the first quarter of fiscal 2005, showed an overall improvement of 18.5% and 10.5%, respectively.

The impact of rising fuel costs was felt, however, Operating, selling, general and administrative expenses (operating expenses) as a percentage of net sales were 18.6% for the first quarter of fiscal 2006, up from 18.3% in the corresponding period in fiscal 2005.

Include the most recent price of the company's stock and its dividend per share. Be sure to provide the date for this information.

According to the company site, the latest stock price was $47.13 on the New York Stock Exchange, dated June 9, 2006 at 4:00 PM EST. ("Stock Quote," 2006, Wal-Mart Official Website).....

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