BENTONVILLE, Ark., June 22, 2004 – LAWFUEL – The U.S. District
Court for the Northern District of California has issued a ruling on class
certification in the case of Betty Dukes v. Wal-Mart Stores, Inc. In response
to this development, Wal-Mart chief spokesperson Mona Williams issued the
“Let’s keep in mind that today’s ruling has absolutely nothing to do with
the merits of the case. Judge Jenkins is simply saying he thinks it meets the
legal requirements necessary to move forward as a class action. We strongly
disagree with his decision and will seek an appeal.
“While we cannot comment on the specifics of the litigation, we can say we
continue to evaluate our employment practices. For example, earlier this
month Wal-Mart announced a new job classification and pay structure for hourly
associates. This new pay plan was developed with the assistance of third
party consultants and is designed to ensure internal equity and external
Separately, at the William Blair Annual Growth Stock Conference held in
Chicago today, Jay Fitzsimmons, the company’s senior vice president, Finance
and treasurer, reaffirmed the company’s guidance for the second quarter and
full fiscal year.
The above statement reflects the only comments Wal-Mart will be making on
This release contains statements that Wal-Mart believes are “forward-
looking statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, and intended to enjoy the protection of the safe harbor
for forward-looking statements provided by that Act. These forward-looking
statements, include our management’s reaffirmance of guidance for the second
quarter and full fiscal year.
These forward-looking statements are subject to
risks, uncertainties and other factors, domestically and internationally,
including, consumer spending patterns and debt levels, weather conditions,
competitive pressures, currency exchange fluctuations, trade restrictions, and
other risks. We discuss certain of these matters more fully in our filings
with the SEC, including our last Annual Report on Form 10-K filed with the
SEC. This release should be read in conjunction with our Annual Report on Form
10-K and our other filings with the SEC through the date of this report. We
urge you to consider all of these risks, uncertainties and other factors
carefully in evaluating the forward-looking statements. The forward-looking
statements included in this release are made only as of the date of this
report, and we undertake no obligation to update these forward-looking
statements to reflect subsequent events or circumstances.
About Wal-Mart Stores, Inc.
Wal-Mart Stores, Inc. (NYSE: WMT) operates Wal-Mart Stores, Supercenters,
Neighborhood Markets and SAM’S CLUB locations in the United States.
Internationally, the company operates in Puerto Rico, Canada, China, Mexico,
Brazil, Germany, United Kingdom, Argentina, and South Korea. The company’s
securities are listed on the New York and Pacific stock exchanges under the