Four Wal-Mart heirs collectively lost $5.7 Billion when the company posted first-quarter earnings that fell below the estimates made by analysts. Wal-Mart’s shares have fallen by 11% this year resulting in $14 billion in combined losses for the Arkansas based retailer. The company is facing increasing competition from Costco, which recently experienced 8% in growth.
See Marine Strauss and Renee Dudley, Sam Walton’s Heirs Lose Almost $6 Billion in One Day, Bloomberg Business, May 20, 2015.
Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.
