Advertise with fastmoving.co.za
 
 

Wal-Mart earnings dip but sales rise at its US stores
Wal-Mart earnings dip but sales rise at its US stores

Wal-Mart earnings dip but sales rise at its US stores

INTERNATIONAL NEWS

bdlive.co.za - May 19th, 15:42

New York — Wal-Mart Stores scored another increase in sales at its US Walmart stores according to first-quarter results released on Thursday, but earnings dipped on higher expenses. 

The world’s biggest retailer reported earnings of $3bn in the first quarter of fiscal 2018, down 1.3% from the period a year ago. Revenues were up 1.4% at $117.5bn.

The results reflected Wal-Mart’s efforts to lure customers to US stores through upgrades to infrastructure, better customer service after boosting worker pay, and enhanced e-commerce offerings. These efforts have pressured earnings in recent quarters due to higher expenses while producing gains in Wal-Mart’s comparable store sales in the US, a closely-watched benchmark that rose 1.4% in the first quarter.

"We delivered a solid first quarter and we’re encouraged by the start of the year," said CEO Doug McMillon. "We’re moving faster to combine our digital and physical assets to make our shipping simple and easy for customers." Shares of Wal-Mart rose 0.8% in pre-market trading to $75.70.
© BusinessLIVE MMXVII 

Read more about: walmart | sales | retailer | ecommerce |

Related News

Alibaba Group reports strong growth in eCommerce
23/05/2017 - 14:30
The Alibaba Group reported strong eCommerce growth for the quarter ending March 31. Revenue for the quarter was $5.6 billion, an increase of 60% year-over-year, the highest growth rate since the company went public. Overall revenue growth was 56%.

Acquisitive Rhodes escapes drought woes
23/05/2017 - 12:29
Acquisitive food producer Rhodes appears to have survived the drought better than its larger rivals, reporting both turnover and profit growth for the first half of its financial year.

Verimark more than doubles its full-year profit
23/05/2017 - 11:43
South Africa’s market leading direct retail group, Verimark, today announced that despite the tough trading environment in the country, it delivered substantially improved results for the year ended 28 February 2017. A significantly higher dividend has been declared amounting to 11.3 cents per share, compared to 3.7 cents last year. The dividend yield at the year-end share price equates to 18,5%.

40% of online grocery purchases in UK made on mobile
23/05/2017 - 09:47
About 40 percent of all online grocery purchases made in the United Kingdom are done using a mobile phone. Online grocery shopping in the UK is also quite popular, as 7 percent of all grocery shopping is done online. That’s more than Spain, the Netherlands and the Czech Republic combined.

Walmart sees strong growth in U.S. eCommerce
22/05/2017 - 14:21
As its Jet.com acquisition continues to pay out, Walmart is seeing hyper growth in eCommerce, with U.S. online sales up 63% in the first quarter. On the physical side of things, Walmart’s store traffic and same-store sales were both up in an extremely challenging retail environment, rising 1.5% and 1.4% respectively.