The company moved to boost worker pay over the past two years, raising minimum wages to $10 an hour in February.
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The number of Wal-Mart Stores Inc shares in issue is 3,116,646,000 which have a current share price of 74.3 bringing Wal-Mart Stores Inc’s market capitalisation to 231.57B Dollars.
Second quarter revenue of $120.85 billion was up 0.6% year over year and topping forecast by about $740 million. Shares of the company havew now surged almost 18% since the start of current year, compared to Dow Jones Index which rose merely 6% in similar time frame. That compares with $3.47 billion, or $1.08 per share in the year-ago quarter.
With its long history of returning significant cash to investors, Wal-Mart Stores Inc (NYSE:WMT) is always considered as a stock for defensive investors and retirees’ portfolio.
Revenue was up 0.5% to US$120.85bn, which was a little better than the US$120.16bn retail analysts had been expecting. The Company’s operations are conducted in three segments: Walmart U.S. Walmart International and Sam’s Club.
On a constant currency basis, revenues rose 2.8% to $123.6 billion. But diluted EPS from continuing operations for the quarter ended 2016-01-31 came in at $4.57. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in shares of Wal-Mart Stores during the second quarter valued at approximately $100,000.
During the third quarter, Wal-Mart expects to earn between 90 cents and $1 a share, with comparable sales in its USA division rising between 1 percent and 1.5 percent.
The grocery business showed improvement from the first quarter despite inflationary pressure. Sales were driven by the retailer’s seventh straight quarter of positive traffic. The company’s distance from 52 week high price is -2.50% and current price is above +33.46% from 52 week low price. Neighborhood Market comparable store sales grew 6.5%.
United Kingdom supermarket chain Asda saw a record decline in sales during the second quarter, illustrating the scale of the task facing new Chief Executive Officer Sean Clarke. If those figures hold up, sales will have remained relatively flat, while earnings will have dropped by almost 5.3% on a year-over-year basis. Comp sales growth was in line with the company’s expectations of slightly positive comps. Stage Stores Inc. (NYSE:SSI) quarterly performance is 0.25% while its year to date (YTD) performance is -34.05%. 1 analysts have suggested “Sell” for the company. The company repurchased about 30 million shares worth $2.12 billion in the quarter, with shares worth $12.7 billion remaining out of $20 billion authorized in Oct 2015. The company will report its next earnings on 18-Aug-16.
The retailer raised its full-year guidance to between $4.15 and $4.35 per share, as compared to its previous forecast of $4.00 and $4.30 a share. Analysts had expected $4.27. The decline in year-over-year growth is due to higher wages and increased spending on e-commerce activities. For the next 5 years, Wal-Mart Stores, Inc.is expecting Growth of 2.43% per annum, whereas in the past 5 years the growth was 0.78% per annum.
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Walmart announced earlier this year that it was planning to close 269 stores worldwide – and 115 of those are outside the U.S.
