=Wal-Mart (WMT) sees 40% online sales jump, sets $20 billion buyback

• Wal-Mart (WMT) announced a $20 billion buyback program and gave sales guidance ahead of its conference with the investment community Tuesday.

Wal-Mart at Annual Meeting reaffirms FY18 guidance; sees FY19 EPS +5% with sales up at or above 3%; adds to share buyback

Walmart will host its annual meeting for the investment community today where the company will discuss progress against its strategic initiatives to leverage its unique assets and win with customers and shareholders through innovation, greater convenience and speed.

• Reiterates FY18 adjusted EPS guidance of $4.30 to $4.40 vs. $4.38 consensus
• Sees FY19 adj. EPS +5% (a current FX) to $4.52-4.62 vs. $4.62 consensus. Consolidated net sales are expected to grow at or above 3% vs. +2.2% consensus, driven by comp-sales and eCommerce growth, assuming currency exchange rates remain at current levels.  Anticipates sales growth at Walmart U.S. eCommerce to be about 40%. Expects to add 1,000 online grocery locations in Walmart U.S. Expects to leverage expenses.
• Co announces a new $20 billion share repurchase program to replace its existing authorization and expects to utilize the new authorization over an ~two-year period New Unit Details
• The company expects global unit growth of ~280, including new, expanded and relocated units, for each of the fiscal years 2018 and 2019.
• Walmart U.S. expects to open fewer than 15 Supercenters and fewer than 10 Neighborhood Markets in fiscal year 2019. Walmart International expects to open ~255 new stores with a focus in key markets such as Mexico and China.
• The company expects capital expenditures to be ~$11 billion for fiscal years 2018 and 2019.