BENTONVILLE, Ark. – May 3, 2007 – Wal-Mart Stores, Inc., (NYSE: WMT) announced that associates throughout the country are receiving their personalized statements this week reflecting company contributions to their profit sharing and 401(k) accounts, stock purchase plan and associate merchandise discounts for the fiscal year ending January 31, 2007. This represents $1.1 billion alone in company contributions to hourly associates in the U.S.
Wal-Mart’s philosophy of sharing its profits with full-time and part-time hourly associates is rare in the retailing industry. The Hewitt Benefit Index®, conducted by global human resources services company Hewitt Associates, shows that Wal-Mart scored 217.4 on retirement savings benefits, while the average retail score is 100. The next closest retailer to Wal-Mart in the retirement savings benefits category scored 199.1.
“Sam Walton strongly believed in making all associates partners in the success of our business and that commitment is as strong as ever today,” said Linda Dillman, executive vice president of risk management, benefits and sustainability.
Historically, Wal-Mart has contributed two percent of an associate’s pay to a profit-sharing plan and two percent of pay into an associate’s 401(k) retirement plan. Associates are not required to contribute any of their own money to the plans in order to get the company contribution.
During the fiscal year ending January 31, 2007, Wal-Mart contributed:
• $667 million to 815,629 hourly associates in profit-sharing and 401(k) contributions.
• $51.4 million to 706,389 hourly associates toward the company’s associate stock purchase plan.
• $397 million in discounted merchandise through a program that gives hourly associates and their family members 10 percent off merchandise at Wal-Mart.
Additionally, Wal-Mart awarded more than $529.8 million in bonuses earlier this year to 813,759 Wal-Mart store and Sam’s Club hourly associates in the U.S.
"Wal-Mart provides associates much more than just a competitive paycheck,” said Susan Chambers, executive vice president, global people division. "The company provides retirement savings through profit-sharing and 401(k) contributions, access to individual health coverage for just $23 per month, bonuses, store discounts on top of our everyday low prices, real career opportunities throughout our company, plus more.
“Together these benefits are part of the reason more than 1.3 million Americans have chosen to become Wal-Mart associates."
About the Hewitt Benefit Index®
Hewitt’s Benefit Index methodology has been used by more than 500 companies over the past 40 years to benchmark the competitive value of the complex array of benefit plans and provisions of various industry and labor market competitors. It calculates the relative employer-provided value of Wal-Mart’s benefits compared to 20 large retailers and grocers based on a common representative employee population.
Wal-Mart Stores, Inc. operates Wal-Mart discount stores, Supercenters, Neighborhood Markets and Sam’s Club locations in the United States. The Company operates in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico and the United Kingdom. The Company’s securities are listed on the New York Stock Exchange under the symbol WMT. More information about Wal-Mart can be found by visiting www.walmartfacts.com. Online merchandise sales are available at www.walmart.com.