- Walmart shares up 3.7%
- Group revenues hit $138.79 billion for the quarter
- E-commerce sales rise 43%
Same-store sales for Walmart that were stronger than expected saw the U.S. retail giant beat analysts’ earnings forecasts. The release of the fiscal fourth quarter results saw shares in the company rise in pre-market and early Wall Street trading.
Adjusted earnings for the three months ending in January saw a rise of 15.6% from the same period of time last year, at $1.41 per share. The consensus forecast had been $1.33 per share.
The company said that group revenues were $138.79 billion, which is up 6% from last year and once again beat predictions from analysts.
Walmart shares were 3.35% up in the opening minutes of trading following the release of the data. This marked a three-month gain of around 7.5% and a market capitalization of just over $301 billion for the Arkansas-based retailer.
Walmart CEO Doug McMillon said: “We had a good year, and I want to thank our associates for their great work and openness to change.”
“They continue to inspire us as we strive to serve our customers better every day. Progress on initiatives to accelerate growth, along with a favorable economic environment, helped us deliver strong comp sales and gain market share,” he continued.
U.S. stores sales saw an increase of 4.2% over the three-month period, ahead of guidance issued by the company last September that said it aimed for “at least 3%”. This marks a consecutive run of increasing domestic sales growth that has now lasted 17 quarters.
E-commerce sales were a big part of the company’s growth drives, recording a hike of 43% year on year.
“We’re excited about the work we’re doing to reach customers in a more digitally-connected way. Our commitment to the customer is clear – we’ll be there when, where and how they want to shop and deliver new, convenient experiences that are uniquely Walmart,” McMillon commented.