Highlights from Wal-Mart's Q4 Earnings Conference Call

Below are some highlights from Wal-Mart's (NYSE: WMT ) fourth-quarter earnings conference call: Operational adjustments to lower expense base, they were not sufficient to deliver leverage for the full-year. Consolidated underlying operating income rose 0.2%, but on a reported basis operating income decreased 3.1% for the year. Like many other retailers, weather