By  on February 20, 2018

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's sales growth rate, "most of that was planned. We expected a lower growth rate since we were lapping 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." e-commerce sales in the fourth quarter grew 23 percent to $11.5 billion, and 40 percent for the year. 

To continue reading this article...

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus