This Tax Firm Looks to Leverage Walmart for Profits
H&R Block (NYSE:HRB) services will be available via kiosks in Wal-Mart (NYSE:WMT) stores, offices located nearby or through H&R Block (NYSE:HRB) At Home. It appears that HRB has stepped into the shoes of competitor Jackson Hewitt Service Inc (JHTX), who was exclusively authorized by Wal-Mart (NYSE:WMT) to operate its tax preparation services out of nearly 2000 of its stores, through the 2011 tax season. No information was, however, available from JHTX or Wal-Mart on the current status of that agreement. JHTX applied for Chapter 11 bankruptcy protection in May.
“This new partnership with the world’s largest retailer allows us to serve more customers at times and locations that fit their busy lifestyles,” said H&R Block President and Chief Executive Bill Cobb. “It’s yet another example of our commitment to gaining and retaining customers like never before.”
- H&R Block, Inc. (NYSE:HRB): The shares recently traded at $15.16, down $0.28, or 1.81%. Its market capitalization is $4.64 billion. They have traded in a 52-week range of $11.15 to $18.00. Volume today was 123,257 shares versus a 3-month average volume of 4,276,170 shares. The company’s trailing P/E is 12.89, while trailing earnings are $1.18 per share. The company pays a dividend of $0.60 per share for a dividend yield of 3.90%. About the company: H&R Block, Inc. provides a wide range of financial products and services through its subsidiaries. The Company provides tax services to the general public, accounting and consulting services, and consumer financial and personal productivity software. H&R Block provides its tax services to clients in the United States and other countries.
- Wal-Mart Stores Inc. (NYSE:WMT): The shares recently traded at $57.03, down $0.12, or 0.21%. Its market capitalization is $196.56 billion. They have traded in a 52-week range of $48.31 to $57.96. Volume today was 975,328 shares versus a 3-month average volume of 14,876,300 shares. The company’s trailing P/E is 12.14, while trailing earnings are $4.70 per share. The company pays a dividend of $1.46 per share for a dividend yield of 2.60%. About the company: Wal-Mart Stores, Inc. operates discount stores, supercenters, and neighborhood markets. The Company’s discount stores and supercenters offer merchandise such as apparel, housewares, small appliances, electronics, and hardware. Walmart’s markets offer a full-line supermarket and a limited assortment of general merchandise. The Company operates nationally and internationally.