To Innovation - Breaking Politics, Economics, Crypto & IT News

learn more
Reporting from Watford, UK and LA, US since 1996
learn more




TOP STORIES
Zuckerberg discussed "TikTok danger" during private dinner with Trump

Facebook spokesman says that Zuckerberg 'cannot remember' discussing the issue of TikTok wit...



Comparable sales of Wal-Mart outperformed forecasts, the margin fell



Wal-Mart Stores Inc reported on Thursday on the growth of comparable sales for the 12th consecutive quarter.



17.Aug.17 1:34 PM
By Daria Zaytseva
Photo Toinnov.com

   222

Comparable sales of Wal-Mart outperformed forecasts, the margin fell
The margin indicator deteriorated against the backdrop of continued price reductions and retailer investments in electronic commerce.

Shares of Wal-Mart fell 2.4 % to $ 79.07 in the course of trading before the official opening of the exchange session.

According to Wal-Mart, sales in stores in the U.S. network, operating for at least a year, increased by 1.8 %, excluding the impact of changes in fuel prices. This exceeded the expectations of analysts polled by the research firm Consesus Metrix, which on average forecast an increase of 1.7 %.

The net profit attributable to Wal-Mart shareholders in the second quarter ended July 31 fell 23 % to $ 2.9 billion, or 96 cents per share, from $ 3.7 billion, or $ 1.21 per share, a year earlier.

Excluding special items, the earnings of $ 1.08 per share outperformed the average forecast of analysts polled by Reuters at $ 1.07 per share.

Gross margin fell by 11 basis points to 25 %, the figure includes a fall of 5 basis points in the U.S.

Online sales increased by 60 %, slightly slowing the growth rate compared to the previous quarter, when they increased by 63 %.

Wal-Mart raised the lower limit of the forecast range of annual profit from $ 4.20 to $ 4.30 per share, excluding special items, keeping the upper limit at $ 4.40 per share.



Back to the list


Related Information: