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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


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.

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