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Wal-Mart Stores see flat earnings for 18 months

Thursday, October 6, 2016 8:01
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Retail giant Wal-Mart Stores Inc (NYSE:WMT) confirmed it will hit its earnings guidance for the current year but expects only a modest if any improvement in 2018.

The Asda owner said earnings would come in between US$4.15 and US$4.35 this year to January with a similar outcome likely over following twelve months.

There will be modest growth in the year to January 2019, it said. 

The store opening programme has been trimmed as the focus switches to digital and online.

Some 130 US stores would open this year it said compared to its original programme of 130-155 and only 55 stores will open in the US next year.

“We’re seeing traction and the company is moving faster,” said Doug McMillon, chief executive, who gave no sales indications.

Shares eased 2.5% to US$69.74.

Story by ProactiveInvestors


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