Retail giant Wal-Mart on Tuesday reported better than expected Fourth-quarter earnings and reiterated for Q1. U.S. same-store sales rose 4.0%, continuing near 10 years highs, e-commerce sales jumped 42% as it continued to inch into $AMZN’s space.
Retail giant Wal-Mart on Tuesday reported better than expected fourth-quarter earnings and reiterated for Q4. U.S. same-store sales rose 3.4%, continuing near 10 years highs, e-commerce sales jumped 43% as it continued to inch into $AMZN’s space
Walmart has been acquiring e-commerce firms in it’s battle with Amazon. $WMT has added Jet.com, Shoebuy, Moosejaw, ModCloth and Bonobos. Target as also been growing it’s e-commerce segment and reports next week.
Walmart Inc NYSE: WMT: Reported Earnings Before Open Tuesday
$1.41 Beat $1.33 EPS and $138.79B Missed $138.65 billion forecast in revenue
Walmart Inc. (WMT) reported earnings for the fourth quarter of $1.41 a share, with saales rising to $138.793 billion. U.S. Walmart same-store sales climbed 4.2%, while Sam’s Club comps roe 3.3%. U.S. Walmart e-commerce sales soared up 43%.
Wall Street had expected Walmart earnings per share to hold steady at $1.33 and revenue to rise to $138.65 billion. Same-store sales, excluding fuel and currency impacts, were expected to rise 2.9%, with U.S. Walmart comps up 3.2% and Sam’s Club comps up 2.9%, according to Consensus Metrix.
Walmart Inc NYSE: WMT
Market Reaction – $102.63 +$2.64 (+2.64%)
- Operating income grew 35.8% to $6.07 billion
- Net income (consolidated and attributable to Walmart) jumped 69.5% to $3.69 billion.
- Net attributable earnings rose 74% to $1.27 per diluted share.
- Total comparable sales (excluding fuel) in the US for 13 weeks ended Jan 25, 2019, was 4.0% vs. last year’s 2.6%.
- Total US comp sales with fuel for the same period was 4.1%.
Walmart expects consolidated FY20 net sales to grow at least 3% in constant currency, on a positive impact of the Flipkart India acquisition, offset by the deconsolidation of Walmart Brazil and the planned tobacco sales reduction at Sam’s Club.
Excluding fuel, Walmart US comp sales for the coming year is expected to grow 2.5% to 3%. Net sales for Walmart US eCommerce is estimated to jump about 35%. Walmart US grocery aims to have about 3,100 grocery pickup locations and 1,600 delivery locations by fiscal year-end.
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