Good morning and thank you for joining us to review Walmart's Third Quarter Fiscal 2017 results. This is Steve Schmitt, Vice President of Investor Relations at Wal-Mart Stores, Inc. The date of this call is November 17, 2016. On today's call, you will hear from Doug McMillon, President and CEO, and Brett Biggs, CFO. This call contains statements that Walmart believes are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, and that are intended to enjoy the protection of the Safe Harbor for forward-looking information provided by that Act. A cautionary statement regarding forward-looking statements is at the end of this call. As a reminder, our earnings materials include the press release, transcript and accompanying slide presentation, which are intended to be used together. All of this information, along with our recently published fiscal 2018 earnings release dates, store counts, square footage, earnings infographic and other materials are available on the Investors portion of our corporate Web-site, stock.walmart.com. For fiscal year 2017, we utilize a 52-week comp reporting calendar. Our Q3 reporting period ran from Saturday, July 30th through Friday, October 28th of this year. Now, I'd like to turn the call over to Walmart CEO, Doug McMillon.

Thanks, Steve, and good morning everyone. As you saw in our earnings release this morning, we delivered another solid quarter and are pleased with the continued momentum in the business. Our associates are doing a good job and it's much appreciated. I'll discuss the details in a minute but I'd like to start by thanking everyone who came to Bentonville for our Investment Community Meeting in October. We enjoyed giving you an update on our plans going forward. We have a strong Company. We're executing well in our stores and making strategic investments in e-commerce to accelerate growth. We're gaining traction and moving faster to better serve our customers every day. When we were together last month, I outlined four priorities, make every day easier for busy families, operate with discipline, be the most trusted retailer, and deliver results and position the Company to win. By executing on these priorities, the customer and our shareholders will benefit. To start, I'd like to highlight some recent developments in e-commerce that demonstrate how we're moving faster and making every day easier for busy families. First, we're excited to see Walmart.com gaining traction. From a marketplace perspective, we're scaling fast, adding 8 million SKUs over the last three months alone. E-commerce contributed 50 basis points to our Q3 Walmart U.S. comp, which is our largest contribution yet. It's great to see an improving e-commerce business complement the momentum we have in our stores. Next, we recently completed the acquisition of Jet.com and we're excited to have Marc Lore as a member of our leadership team driving U.S. eCommerce for Walmart and Jet.com. One of the reasons Jet.com makes sense for Walmart is the common ground we share with basket economics. Walmart's advantage has always been in providing the lowest prices on a basket…

Thanks, Doug, and good morning everyone. Last month at our Investment Community Meeting, we updated investors on how we're transforming the Company from a position of strength. I laid out the financial framework that will guide our decisions, focused on delivering strong efficient growth, operating with discipline, and strategic capital allocation. Growth going forward will focus more on comp sales and we're investing to accelerate e-commerce, particularly in the U.S. with our acquisition of Jet.com and further scaling Walmart.com. We're moving with speed to drive long-term value for our shareholders. Let's turn to our third quarter results. We're pleased that results were in line with our expectations and showed continuing momentum in the business. Excluding currency impacts, each business segment delivered solid net sales growth, and e-commerce GMV and sales growth continued to accelerate. Keep in mind that the results included the operating impact of Jet.com for roughly half of the quarter as well as the transaction costs, both of which were initially forecast to be in the fourth quarter. Total revenue, excluding an unfavorable $2.1 billion currency impact, increased 2.5% to $120.3 billion. On a reported basis, total revenue increased 0.7% to $118.2 billion. During the quarter, we added $2.7 billion in net sales on a constant currency basis, which brings year-to-date constant currency growth to nearly $10 billion. Walmart U.S. continued its solid top line performance, and it's clear that our focus on driving value and a better store experience is resonating with customers. International delivered another solid quarter with Walmex once again leading the way. Sam's Club comp sales were better than expected and membership income again showed steady improvement. Third quarter EPS was $0.98 versus guidance of $0.90 to $1. There were a few items that impacted the results that were not anticipated in our guidance,…