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.
Donatella Versace will receive the International Award at the 2018 @cfda awards, which were announced tonight. Tap link in bio for a list of all the nominees and honorees. #wwdnews #wwdfashion (📷: @rahirezvanistudio )
The 2018 @cfda Awards nominees are out! @virgilabloh for @off____white for is nominated for Womenswear Designer of the Year. Tap link in bio for all the nominees. #wwdnews #wwdfashion ( 📷: @simonelezzi)
@chanelofficial is suing high-end vintage retailer @whatgoesaroundnyc for trademark infringement, a move that could cost the retailer millions. The French fashion house claims that it’s not only unintentionally sold counterfeit goods on occasion, but that it’s “gone out of its way to create an association with Chanel,” which does not exist. Read Chanel’s statement on WWD.com #wwdnews (@aitorrosasphoto)
Exclusive: Guillaume Henry has left @ninaricci, the fashion house said on Thursday. “After three years of mutually gratifying creative collaboration, Nina Ricci and Guillaume Henry have together decided that the designer will depart the house after the presentation of the fall-winter 2018-19 collection,” Ricci said in a statement. Get all the details on WWD.com #wwdfashion (📷: @aitorrosasphoto)
“When Bella enters a room all heads turn,” said @peterphilipsmakeup, creative and image director for @diormakeup. Last night, the two celebrated the product launch of Dior’s Lacquer Plump in Los Angeles with other celebs like @parisjackson, @winnieharlow and more. Head to WWD.com to see the rest of the photos from the night (📷: @chelsealaurenla) #wwdeye
“These shirts are an art form, it’s about getting the message out to as many people as you can. It breaks down the pretentiousness of the art gallery,” says Kumasi Sadiki, cofounder of @ebayontheblock, a store that sells merchandise by New York artists who are shifting their attention to clothes as a wearable medium. Pictured here is a design by artist @joegarvey_, one of the first to spearhead this movement. Head to WWD.com to read @mistywhitesidell full story on how their designs have become merch for the underground elite #wwdfashion
@netaporter is dedicating a part of its website – called the Fine Jewelry and Watch Destination – to highlight its high-end jewelry. The hub will feature products on the site, as well as incorporate styling advice and educational content about high-priced jewelry items. Get more details on WWD.com. #wwdaccessories
For “The Cher Show,” an upcoming musical based on @cher’s life and career, @bobmackie is once again collaborating with the singer in designing the costumes. For decades, Mackie has designed glitzy stage costumes and red carpet looks for the 71-year-old Grammy winner. Pictured here is a sketch of some of the pieces in the wardrobe of the musical, which is set to debut in Chicago on June 12 before making its way to Broadway #wwdeye