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Wal-Mart (WMT) By John Del Vecchio (TMF Fuz) Second-Quarter Update Released: 8/22 Date Summary 8/22/00 Solid Second Quarter for the Mega-Retailer 5/22/00 Wal-Mart Stands Strong in First Quarter 3/20/00 The World Is Not Enough Wal-Mart (NYSE: WMT) is the world's largest discount and general merchandise retailer. Headquartered in Bentonville, Arkansas, the company operates thousands of discount stores, Supercenters, and Sam's Clubs worldwide. Wal-Mart discount stores operate in all 50 states. Supercenters, which include grocery and general merchandise goods, are the company's primary driver of domestic growth. Wal-Mart began international expansion in 1991 and is now the largest retailer in Canada and Mexico. Wal-Mart has also revamped its Internet retailing effort. The company has announced strategic initiatives with America Online, Books-A-Million, and Federated Stores' Fingerhut division. For years to come, Wal-Mart stores will be well positioned to offer "everyday low prices" in bricks-and-mortar retailing as well as Internet e-tailing around the globe. With the Internet and international expansion, the potential for growth is just beginning. Stay tuned for analyst John Del Vecchio's quarterly Foolish research on Wal-Mart.

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