(By Balachander) Wal-Mart Stores Inc.'s (NYSE:WMT) Chief Executive Officer Mike Duke said the retailer's business around the world is "strong and getting stronger".
At an investor conference, Duke said Wal-Mart's business momentum is building strength and delivering financial results in its operations around the world.
Duke said the company has a lot of "open road ahead" even beyond current plans.
"We have momentum in our business that's producing top line and bottom line results," said Duke. "We're delivering on the productivity loop and being even more disciplined about operating expenses and capital spending."
While discussing Walmart U.S., Duke said the business is "in a very good place" and making progress on a number of fronts that are driving strong comparable sales.
According to Duke, the growth of Walmart International is strong, winning customers and gaining share in almost every country in which the company operates. "Our international business will continue to be a growth engine."
Duke said Sam's Club continues its "strong performance and is testing new ways to engage existing and prospective members and to increase membership renewals and revenue." The company is pushing hard to accelerate growth in membership and top line sales at Sam's.
"As far as we've come, I believe we still have a lot of upside....In this changing landscape of commerce around the world, I truly believe that we will continue to be the healthiest and best-positioned global retailer," Duke concluded.
The stock, which has been trading in a 52-week range of $54.39 to $76.73, traded 2.74 percent higher at $76.18 on Wednesday.