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Wal-Mart roars in Q2; raises forecast
Revenue increased 0.5 percent to $120,854 million from $120,229 million.
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At Walmart U.S., same-store sales grew 1.6%, the eight consecutive quarter of gains. Wal-Mart says that with the deal it will be able to grab a higher-income customer who typically is younger than its own shoppers. The company’srevenue increased 0.5% year over year (y-o-y) to $120.9 billion, which was $740 million more than estimates.
That includes an estimated 5 cent per share hit from the planned $3.3 billion acquisition of Jet.com, which assumes the transaction is closed near the beginning of the fourth quarter. The U.K. market continues to be characterized by “fierce competition and food deflation”, Brett Biggs, chief financial officer of USA parent company Wal-Mart Stores Inc., said in a statement Thursday. “Our strategy in the U.S.is working as we delivered an eighth consecutive quarter of positive comps, and worldwide also performed well”. WMT fell -0.21%, plunged -0.61% and advanced 12.65% in the week, one month and six months, respectively. For the 2017 fiscal year, analysts are looking for EPS of $4.27 and sales of $486.48 billion.
At a time when many of its peers are struggling, Walmart posted better than expected quarterly results on Thursday, thanks to stronger sales and more customers. 2 Months Ago, shares have been suggested as “BUY” from “0” brokerage firms and recommended as “Strong Buy” by “5” brokerage firms. Though the company reported higher sales at Wal-Mart U.S., a drop in sales at the global business and Sam’s Club resulted in the year-over-year fall in earnings. Customer traffic rose 1.2 percent, marking the seventh straight quarter of gains.
Global e-commerce sales and GMV increased 11.8% and 13.0%, respectively, on a constant currency basis. In order to see how they are doing in music we have to look at alternative data from Nielsen Music, which indicates that mass merchant sales are down a whopping 24 percent, as the segment has produced album sales of 21.22 million album units so far this year, versus 28.02 million last year. The Sam’s Club consists of membership-only warehouse clubs and operates in approximately 48 states in the United States and in Puerto Rico, as well as digital retail.
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Store visits increased 1.2 percent in the second quarter. Operating income from all segments stood at $6.1 billion, up 1.6% YoY. The company attributed the decline to “investments in people and technology” and currency fluctuations. Analysts expect earnings of $4.27 per share for the year. About 124 shares traded hands.