WalMart Disappoints Lower Profit But Higher Online Sales Rival Amazon

in finance •  2 years ago

Wal-Mart $WMT, the world's largest retailer reported a lower quarterly profit, impacted by higher expenses, 3Q17 EPS of $0.98 versus its prior guidance of $0.90-1.00.However the company raised the lower end of its FY17 outlook. $WMT reported 3Q17 earnings of $3.03Bil, or $0.98 per share, down from $3.3Bil, or $1.03 per share, a year earlier. Revenue rose 1% to $118.2Bil.

Walmart raised the lower end of its FY17 adj earnings guidance to $4.20-$4.35 per share from its prior outlook of $4.15-$4.35 per share. Their digital sales rose 20.6%, excluding currency swings. $WMT's recent acquisition was included in 3Q17 for six weeks, which is facing fierce competition from online retailers like Amazon and Target. 

U.S. same store sales rose 1.2%, driven by a traffic increase of 0.7%. Net sales at Walmart International were $28.4Bil, a decrease of 4.8%. Excluding currency impacts, net sales were $30.5Bil, an increase of 2.4%.

Walmart said the results were impacted by a gain on the sale of certain shopping center assets in Chile and a tax benefit related to an agreement to sell the Suburbia business in Mexico.

There was also a dilutive impact from the earlier than expected completion of the acquisition, including transaction costs. and will operate as separate brands. Marc Lore, founder and CEO of,  joined $WMT's leadership team, serving as EVP at Walmart and president and CEO of Walmart eCommerce in the U.S. He will lead both and

[b]$WMT Wal-Mart Stores Earnings AlphaGraph: Q3 2017 Highlights[/b]

Source: Alpha Street 

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