Walmart Inc.'s fourth quarter 2018 results were a mixed bag, but Wall Street focused on the negative, and its shares took a beating after the Bentonville, Ark. giant reported a sharp decline in profit and slower-than expected growth in e-commerce sales.Net income plummeted 42.1 percent to $2.17 billion, or 73 cents a share, from $3.76 billion, or $1.22 per share in the 2017 fourth quarter. Analysts were expecting EPS of $1.37 per share. Fiscal 2018 net income declined 27.7 percent to $9.86 billion from $13.64 billion in 2017. EPS for fiscal 2018 declined 25.2 percent to $3.29 from $4.40 in the prior fiscal year.Net sales in the 2018 fourth quarter increased 4.2 percent to $135.15 billion, from $129.75 billion in the year-ago period. For fiscal year 2018, net sales rose 3 percent to $495.76 billion, from $481.3 billion the previous year. Comp-store sales grew 2.6 percent and traffic rose 1.6 percent.Walmart Inc. chief executive officer Doug McMillon during a conference call with analysts, said of walmart.com's sales growth rate, "most of that was planned. We expected a lower growth rate since we were lapping Jet.com. Seasonal spikes came into our fulfillment centers that harmed our basic in-stock. We're learning to deal with higher volumes and higher peaks, but most of that was planned."
Walmart.com e-commerce sales in the fourth quarter grew 23 percent to $11.5 billion, and 40 percent for the year.
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim
“I genuinely fell in love with water, I fell in love with Fiji, I fell in love with the whole life that we lived for those few months,” says @mrsamclaflin of filming for his new movie “Adrift” with @shailenewoodley. The 31-year-old actor spoke with WWD about his upcoming projects, meeting Jamie Dornan and working with co-star Woodley. #wwdeye (📷: @jamstoker)
3 years ago, fans of the late singer Aaliyah started calling for a collaboration with @maccosmetics. With the strength of social media — including mock ups of products — 25,000 people signed a Change.org petition for a limited-edition collection, and MAC couldn’t ignore the buzz. Tomorrow, MAC will unveil MAC x Aaliyah, a tribute to the singer who passed away nearly 17 years ago. Head to our stories to preview the new collection, which was worked on by Aaliyah’s family and inspired directly by her makeup bag. #wwdbeauty
Artistic director @clarewaightkeller will be dedicating @givenchyofficial’s fall 2018 couture show in Paris on July 1 to house founder Hubert de Givenchy, who passed away in March at age 91. Givenchy said the collection would be “an homage to his iconic creations, technique, and personal lexicon” and a “celebration of his timeless elegance and grace.” Head to WWD.com to read more. #wwdfashion (📷: Delphine Achard)
La Double J made a name for itself with its vintage-inspired prints, but for resort, designer JJ Martin has ventured into new territory: enter rich jewel toned solids and decadent embellishment, in the form of appliqués, crystals and sequins. #wwdfashion #resort19 #ladoublej
This Just In: J. Crew Group has named Johanna Uurasjarvi as its chief design officer.
Uurasjarvi succeeds Somsack Sikhounmuong, who left the company last September. Tap the link in bio for the full report. #wwdnews
“She came into my hotel room and she was like, ‘I have Chanel and Christian Dior.’ She was like, ‘Chanel likes you.’ And I was like, ‘I’m going to start crying,’” breakout star Maddie Hasson tells WWD of her styling sessions Molly Dickson. “I really like classic, elegant things. I love the way Anna Wintour dresses.” Read more about Hasson’s role in @impulseseries on wwd.com. (📸: @jgreenery ) #wwdeye
@virgilabloh revealed he's working with Australian stylist and
Vogue Australia fashion director @christinecentenera for his debut @louisvuitton men's collection, which will be presented in Paris on June 21. Centenera met Abloh while both working with Kanye West, where she consulted on his all his runway collections since his debut spring 2012 women's wear show. Read the full story on WWD.com. #wwdfashion #wwdnews (📷: @asussmanphoto)