Walmart online sales surge, earnings beat expectations

Walmart's sales fall short at home amid deal spree overseas

Total revenue at Walmart in the first quarter rose 4.4% to $122.7 billion, and net sales at Walmart International increased 11.7% to $30.3 billion.

Menta Ltd Liability Com, a California-based fund reported 2,900 shares.

Consolidated operating income fell by 1.6% year over year in the first quarter.

According to the Recommendation Trends of the stock polled by Finviz, the company has a consensus recommendation of 2.3 out of the scale from 1 to 5 where 1 stands for Buy and 5 means Sell.

The highest price WMT stock touched in the last 12 month was $109.98 and the lowest price it hit in the same period was $73.13.

"The Street is trying to digest the margin performance and there are concerns around when they can make money given the large investments in e-commerce", said Brian Yarbrough, an analyst with Edward Jones.

US first-quarter same-store sales rose 2.1% at the company's supercenter and discount stores, and comparable-store traffic rose 0.8%.

That came as a relief to investors, who sent shares up 1.4% in premarket trading, given the billions of dollars Walmart has spent in recent years on beefing up its e-commerce muscles to better compete with Amazon.com (amzn) and on its stores to turn them into effective hubs as Walmart blends the digital with the physical.




Bentonville, Ark. - Walmart is laser focused on driving more traffic and sales via e-commerce as the segment continues to fuel its business.

"Online grocery continued to accelerate and [we] had the new Walmart.com site redesign late in the quarter", CFO Brett Biggs explained to CNBC. Still, the company is taking steps to revitalize its e-commerce arm, particularly in food. It also plans to sell a majority stake in its United Kingdom grocery chain Asda Group Ltd to J Sainsbury PLC.

Walmart also recently reached agreements to sell its banking operations in Walmart Canada and Walmart Chile, it said on Thursday. The retailer reported $1.14 earnings per share for the quarter, topping the Zacks' consensus estimate of $1.12 by $0.02. Sales at stores opened at least a year rose a solid 2.1 percent. Walmart wants to harmonize its online services with its 4,700 USA stores.

Still, there are headwinds like higher gas prices and other inflationary pressures that could threaten wage growth, says Steve Barr, consumer markets leader at PwC.

By the year's end, Walmart plans to expand grocery delivery to about 800 stores, covering about 40 percent of the US population, CEO Doug McMillon said in earnings remarks Thursday. E-commerce sales still account for a fraction of the retailer's revenue.

Competition in the US grocery sector intensified as rival Kroger Co struck a deal with British online grocery company Ocado Group to build and deliver groceries from robot-staffed warehouses.

Analysts say the company needs to find new customers now that its more than 5,000 Walmart and Sam's Club stores have largely saturated most of the United States. A long winter hurt demand in weather-related categories and led customers to consolidate trips, Walmart said. The company had revenue of $121.63 billion for the quarter, compared to analyst estimates of $119.29 billion.

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