Walmart Shares Rise as E-commerce Growth Rebounds,
18 May, 2018, 09:34 | Author: Billie Castillo
The world's largest retailer reported Thursday that both revenue and profits beat Wall Street estimates. While talking about Performance of the Stock, Wal-Mart Stores Inc. now has a Weekly performance of 3.7%, monthly performance percentage is -2.01 percent, Quarterly performance is -15.31 percent, 6 months performance shows a percent value of -5.34% and Yearly Performance is 14.67 percent.
Walmart said some consumers may have felt the pinch from rising gas prices, but consumer demand remained robust. He also says that the most financially healthy retailers are able to invest in stores and online, while others with less cash can't.
It cut its outlook for the year Thursday as it trims sending to offset declining revenue.
While Walmart Inc.'s total revenue and U.S. comparable-store sales and comp traffic all grew in its first quarter of fiscal 2019, the biggest result was the mega-retailer's surge in ecommerce sales, which contributed about 100 basis points to Walmart U.S. comps growth, with strength in home delivery and online grocery, for an impressive 33 percent spike. But its comparable sales were disappointing. Still, Walmart generates most of its profits and sales in the USA, and its heavy spending to lower prices and expand its online business have investors concerned about the price it's paying to keep up with Amazon.com Inc.
Global sales rose from $27.1 billion a year ago to $30.3 billion while operating income rose from $1.1 billion to $1.3 billion. Online sales were forecast to rise about 40% in the year and capital spending was pegged at approximately $11 billion. Categories like fresh and packaged goods were particularly strong because of the growth in private brands, the company said.
US e-commerce sales grew 33% in the first quarter, up from 23% in the fourth quarter.
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Recently the company closed 63 of its underperforming Sam's Club locations, or around 10%, and removed tobacco from certain locations.
Among 20 analysts covering Wal-Mart Stores (NYSE:WMT), 10 have Buy rating, 0 Sell and 10 Hold. Same-store sales growth also eclipsed expectations, as Walmart reported 2.1 percent growth versus the anticipated 2 percent.
This year, Walmart expects to expand online grocery pickup by around 1,000 stores to reach more than 2,100 locations nationwide.
This week, Amazon made its own chess move, announcing special discounts for its Prime members when they shop at Whole Foods Markets. Amazon recently raised its annual fee for membership to $119, from $99. This month Walmart agreed to take control of India's largest e-commerce company, Flipkart Group, for $16 billion, betting that growth in the South Asian market will make up for the short-term losses from taking on the unprofitable startup. It is selling its British unit, Asda, which has been struggling with intense competition from German no-frills discounters Aldi and Lidl.
He said the Walmart.com site redesign helped although it came late in the quarter. After the earnings released early Thursday morning, shares move up almost 1% in premarket trading.
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