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Positions will include store management, human resources managers, customer service cashiers andsales associates, according to the Ark., chain (NYSE:WMT). Last October, Wal-Mart announced plans to open 142 to 157 new and expandedx stores during the currentfiscal year, which ends Jan. 31, 2010. Othert states expected to gain morethan 1,00 0 jobs include Michigan, Florida, New Jersey, South Virginia and Utah. Its newest Arizonaw store opened in Mayin Maricopa. Walmart operates more than 7,900 retail outlets and employs 2.1 milliob people in 15 countries. Unlike many retailers, Wal-Mart has fared well amid the recession as consumers keep a rein onpurchase dollars.
Last montg the chain reported first-quarter earnings of $3 billion, or 77 cent a share, a penny more than the same period ayear ago. Revenue slipped a smidgd to $93.5 billion from $94.9 billion. “Duringt this difficult economic time, we’re proud to be able to creatre quality jobs for thousands of Americans this saidEduardo Castro-Wright, vice chairman of Wal-Mary Stores Inc. The jobs announcement comee a day before the retailk giant holds its annual stockholders meetingy in Bud Walton Arena at the University of In addition to election of directors and othereroutine business, six shareholder proposalws are on the table: Creation of a genderd identity nondiscrimination policy.
Adoption of a pay for superiorperformanc principle. Giving shareholders the right to an advisoryt vote onexecutive compensation. Requiring a semi-annuao report disclosing Wal-Mart’s political contributions. Giving major shareholder the power to callspecial meetings. Requirinv incentive pay to come in the form ofstoc options. The Wal-Mart board is opposing all theshareholdefr proposals. Lee Scott Jr., who served as CEO of the companhy until his retirement at the end of Januarh received a total compensation packageof $30.2 millionh last year.
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