Walmart beats on earnings as online sales surge (WMT)
|05/18/2017||Posted by BusinessMediaguide.Com under General World News||
Walmart on Thursday reported first-quarter earnings and sales that topped analysts’ expectations amid heavy investments to beef up its ecommerce unit and contain the threat from Amazon.
Adjusted earnings per share came in at $1, America’s largest retailer said in a statement, beating analysts’ forecast for $0.96 according to Bloomberg. Sales at stores open for at least one year rose by 1.4%, ahead of the forecast for 1.3%.
Gross merchandise volume in Walmart’s ecommerce unit — the value of everything that was sold through it — jumped by 69% compared to the prior year. Walmart’s acquisition of Jet.com as well read more >>>