By  on May 16, 2019

Walmart Inc. on Thursday posted stronger-than-expected earnings for the first quarter of fiscal 2020, but the outlook for the second quarter was somewhat cloudy with the company’s proposed Asda merger with Sainsbury’s blocked by U.K.’s Competition and Markets Authority, and the retailer saying it may be forced to raise consumer prices due the Trump administration’s tariffs on Chinese-made products.

Walmart finished the first quarter ended April 30 with a 3.4 percent increase in U.S. same-store sales — the highest gain in the period in the U.S. in nine years — and earnings per share of $1.13, easily beat Wall Street analysts’ consensus estimate of $1.02 per share.

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