Tag Archives: Wal-Mart

Wal-Mart expects online sales to grow by 40%

Wal-Mart surged 4.47% to settle at $84.13 per share on Tuesday after reports surfaced the group expects online sales to grow by 40% next year. This comes as it attempts to compete with Amazon. Wal-Mart has already invested heavily in its online business and will continue to focus on technology, e-commerce and international stores as potential growth areas. The group has also started offering 2-day free shipping and has plans to double the locations for shipping online grocery orders. Overall, Wal-Mart expects net sales to increase by at least 3% in the year ending January 2019. It currently estimates its fiscal 2019 profit will grow by around 5%.

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Wal-Mart Stores surpassing estimates of $1.07 per share

On Thursday, Wal-Mart shed 1.58%, or $1.28, as it moved to close at $79.70 per share, despite the group releasing better-than-expected quarterly results. During the previous quarter, Wal-Mart saw revenues come in at $123.36bn, 2.1% higher than reported a year ago and edged the estimates of $122.84bn. This was mainly due to a 3.3% increase in sales from its US-based stores, while online initiatives recorded a 60% increase in the number of transactions processed. Meanwhile, US same-store sales rose by 1.7%, in-line with expectations. The group recorded adjusted earnings of $1.08 per share, surpassing estimates of $1.07 per share.

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Wal-Mart Stores misses on revenue as competition heats up

Wal-Mart released mixed quarterly results on Thursday, with the group easily beating earnings estimates, but falling marginally short of revenue expectations. During the period, revenues increased by 1.4% to come in at $117.5bn, slightly lower than forecasts of $117.74bn. The increase in revenue was partly attributed to a 63% increase in e-commerce sales, sharply higher than the 29% increase recorded in the previous period. Earnings grew by 2% to $1.00 per share, up from the 98 cents per share reported a year ago and slightly better than expectations of a decline to 96 cents per share.

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Wal-Mart Stores to cut hundreds of jobs

On Tuesday, Wal-Mart ended marginally lower, down 0.7%, following news reports that the retail giant is looking to cut hundreds of jobs before the end of this month. In September, Wal-Mart first announced it would trim around 7,000 back-office jobs, with cuts mostly focused in accounting and invoicing positions. However, this round of layoffs will allegedly be more focused on jobs at its headquarters and regional personnel that support stores, such as the human resources department. The cuts also come after Wal-Mart announced its plans to invest $2.7bn in training programs for its massive workforce, as well as a series of wage hikes.

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Wal-Mart surpasses estimates

On Thursday, Wal-Mart, the world’s largest retailer, released its latest results for the quarter. In it, the group missed revenue estimates, but surpassed earnings expectations.  During the period, the group saw sales come in at $118.08bn, 0.7% higher than the previous corresponding period, but slightly lower than expectations of an increase to $118.7bn. This revenue miss was partly due to weaker-than-expected US comparable store sales which increased by 1.3%, slightly lower than estimates of 1.2%. Overall, Wal-Mart saw its earnings come in at 98 cents per share, slightly lower than the 99 cents a share recorded a year ago, but surpassing estimates of a decline to 96 cents per share.

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Wal-Mart Stores just got bigger

On Thursday, the world’s largest retailer, Wal-Mart, reported quarterly results which beat analysts’ estimates. During the quarter, the group recorded a 0.5% increase in revenue to $120.85bn, marginally higher than expectations of an increase to $120.16bn. In addition, Wal-Mart saw its earnings for the 2nd fiscal quarter come in at $1.07 per share, slightly lower than the $1.08 per share recorded a year ago, but beating estimates of $1.02 per share. Lastly, the group’s results were boosted by a 1.6% increase in Wal-Mart’s same-store sales in the US, better than estimates of a 1% increase and higher than the 1% growth recorded during the 1st quarter.

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Wal-Mart: On sale!

Yesterday, Wal-Mart fell more than 10%, its worst daily performance in 15 years, after it announced that its full year sales would be flat. Thanks to the decline, the group touched a 3-year low during the session and wiped off as much as $20bn from its market cap. The dollar played a key role in the group delivering flat sales, as sales would have shown a 3% increase excluding currency exchange rates. In addition, the group expects its earnings per share to fall by between 6% and 12% during the next fiscal year, as operating expenses are likely to outpace sales growth. This is mainly due to the increase in wage costs, which will increase overall cost by $1.2bn this year alone.
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