Wal-Mart whiffs
The retail behemoth reported $120.3 billion in revenue, which was a hair higher than the $119.7 billion expected by analysts. This was boosted by a 1.5% gain in US comparable store sales excluding fuel.
But after expenses, earnings came in at just $1.08 per share, which was below the $1.12 expected.
Management cut its full year expectation for EPS to a range of $4.40 to $4.70, down from $4.70 to $5.05.
"We're pleased that the investments we've made are helping to improve our business," CEO Doug McMillon said. "Even if it's not as fast as we would like, the fundamentals of serving our customers are consistently improving, and it's reflected in our comps and revenue growth. In this case, our desired changes require investments, which are pressuring earnings this year. We're confident that our strategic plan will create robust sustainable growth for shareholder returns over time."
Below is a breakdown of net sales, comparable store sale, and operating income for each of Wal-Mart's business segments. The comp sales stats include growth in the number of customers (traffic) and growth in the amount customers are spending with each visit (ticket).
