Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

More shoppers online and in its US stores helps Wal-Mart’s fourth-quarter results beat forecasts

Tuesday, February 21, 2017 6:19
% of readers think this story is Fact. Add your two cents.

A rise in online sales as well as more shoppers at its US stores helped retail giant Wal-Mart Stores Inc (NYSE:WMT) post slightly better-than-expected fourth-quarter results.

The world’s largest retailer saw its headline net income fall to US$3.76bn, or US$1.22 cents per share in the three months to January 31, down from US$4.57bn, or US$1.43 per share at the same stage a year earlier.

Excluding exceptional items, Wal-Mart’s earnings per share was $1.30, just above the consensus estimate for US$1.29.

The firm reported its 10th straight quarter of comparable sales growth, with sales at US stores open for at least a year rising 1.8%, excluding fuel, well above forecasts for a rise of 1.3%.

However, overall revenues fell short of expectations at US$130.94bn as foreign exchange rates and food deflation weighed.

The group said it expects to earn between US$4.20 a share and US$4.40 a share in fiscal 2018, compared with an estimate of US$4.33.

Wal-Mart has been investing heavily in both its stores and e-commerce operations, which have weighed on its profitability.

Doug McMillon, Wal-Mart’s president and CEO,  said: “We’re moving with speed to become more of a digital enterprise and better serve customers.”

He added: “Our international business is consistently delivering solid sales growth in constant currency, and Sam’s Club posted its best comp sales growth of the year.”


Story by ProactiveInvestors


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global

Top Alternative




Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.