Walmart Tops Expectations, Shares Gain
Walmart Inc. offered up some hope for brick and mortar in the second quarter. While Walmart’s profits declined in the period the bottom line still topped Wall Street analyst expectations and the retail behemoth raised its outlook for the year for its U.S. business, including comparable-store sales, consolidated operating income and EPS, boosting the stock by more than 4 percent. Same-store sales at Walmart U.S. grew 2.8 percent, fueled by e-commerce sales growth of 37 percent. Walmart U.S. comparable-store sales increased in the last 19 consecutive quarters, and the retailer logged record growth in the first quarter ended in March with a 3.4 percent increase in U.S. same-store sales, which was the highest gain in the period in the U.S. in nine years. Walmart reported earnings per share in the second quarter of $1.27, a slight decline from $1.29 per share in the same period in the prior fiscal year, but stronger than the retailer’s guidance. Total revenue in the quarter increased 1.8 percent to $130.4 billion from $1.28 billion, an addition of $2.3 billion. Wall Street analysts predicted $1.22 per share on revenues of $130.2 billion, which would have represented a 1.7 percent increase. The results also highlighted Walmart’s strengths and in some
Follow WWD on Twitter or become a fan on Facebook.
from WWDWWD https://ift.tt/2Z5uKSP
0 comments:
Post a Comment