Earnings per share came to US$1.07, excluding the gain and other items, in the second quarter ended on July 31.
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Sales at USA stores open at least a year rose 1.6 percent, excluding fuel prices, to beat expectations in their eighth straight quarter of growth.
Wal-Mart scored higher comparable sales and customer traffic in the USA, the linchpin of the company.
McMillon said in a pre-recorded call that the growth in global e-commerce came from the improvement in the USA market, fueled by its rollout of Wal-Mart Pay, its own mobile payment system, and the online grocery and pick up services that it’s rolling out.
The forecast includes an estimated hit of 5 cents per share from the planned acquisition of internet retailer Jet.com, which Wal-Mart hopes will accelerate its e-commerce business and narrow the widening gap with rival Amazon.com Inc.
Since he took the helm during 2014, McMillon has increased the pay for workers in the US and poured new money into the company’s business online with the goal of providing a better overall experience for Walmart customers and to stem the defections suffered to Amazon.com. “Our strategy in the U.S.is working”, he said. Sales were driven by the retailer’s seventh straight quarter of positive traffic.
Centene Corp (NYSE:CNC) now has mean rating of 1.8 while 7 analyst have recommended the shares as “BUY”, 9 commented as “OUTPERFORM” and 3 commented as “HOLD”. NSAM reported U.S. GAAP net income to common stockholders for the second quarter 2016 of $10.9 million, or $0.06 per diluted share.
Net sales at Walmart International was $28.621 billion, down 6.6% compared to the same quarter in 2015.
In Wal-Mart Stores, Inc.
The retailer had forecast 95 cents to US$1.08. Granted, any upward revision to guidance is positive, the company’s guidance “doesn’t look as notable” when comparing to last year’s earnings per share of $4.57. (NYSE:WMT) latest quarter ended on 30 April 2016, company announced earnings of $0.98. Visit MarketWatch.com for more information on this news. Still, that’s an nearly five-percentage growth acceleration from the first quarter. The company had Year Ago Sales of 117.41 Billion. Revenue was mostly flat from previous year to $119.41 billion, edging out analysts’ view of $119.33.
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After dropping by almost 30% last year, Wal-Mart’s stock has enjoyed a sharp rebound for much of this year. As a result, we maintain our stance that even in a highly competitive environment, the Wal-Mart banner still has power to drive traffic. The company exchanged total volume of 14.34 million shares throughout course of last trade however it holds an average trading capacity of 8.55 million shares.
