Wal-Mart Stores, Inc. -- Moody's says Walmart's e-Commerce performance in 2013 is a long-term credit positive

New York, February 20, 2014 -- In a release published earlier today, Moody's Investors Service stated that Wal-Mart Stores, Inc.'s ("Walmart") Q4 and FYE 2013 operating performance, while overall tepid due to a still-challenged consumer, particularly in the US, indicates that the company's push into e-Commerce is gaining traction. "Walmart exceeded its goal of $10 billion in e-Commerce sales for 2013, with overall sales in this channel up over 30% year-over-year, which when combined with the company's stated goal of another 30% in e-Commerce growth for 2014 will continue to provide Walmart with firm footing for further expansion of this key channel in our view, which will be a long-term credit positive," stated Moody's Vice President Charlie O'Shea. "Walmart's impressive e-Commerce performance continues to advance our thesis that brick-and-mortar retailers have significant untapped opportunity to develop compelling multi-channel businesses. The company's statement that it is also planning to continue to rapidly rollout its smaller format stores will provide more points of contact for consumers, as well as continue to leverage its world-class distribution network."

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