Wal-Mart first-quarter same-store sales miss estimates
[CHICAGO] Wal-Mart Stores Inc, the world's largest retailer, reported lower-than-expected US same-store sales growth, sending its shares down 2 per cent in pre-market trading on Tuesday.
The company reported a 1.1 per cent rise in same-store sales in the United States, missing the consensus of an increase of 1.5 per cent, according to analysts polled by research firm Consensus Metrix.
Net profit attributable to Wal-Mart fell to US$3.34 billion, or US$1.03 per share, in the first quarter ended April 30, from US$3.59 billion, or US$1.11 per share, a year earlier.
Total revenue fell slightly to US$114.83 billion from US$114.96 billion.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Starbucks points to weaker consumer as profit falls
Restaurant Brands tops estimates as Burger King overhaul pays off
Walmart to shut all health centers in US over lack of profitability
Coca-Cola raises annual sales forecast on global demand, higher prices
Dying salmon trouble Norway’s vast fish-farm industry
Fast-fashion giant Shein wants to sell skincare, toothpaste and toys, too