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
France's Casino supermarket chain to axe up to 3,200 jobs
Prada outshines rivals with 16% revenue lift boosted by Miu Miu
Toymaker Hasbro posts quarterly profit beat, slower sales decline
Hilton lifts 2024 profit forecast on international travel demand
China knockoff raid jolts a global throng of fake-fashion influencers
Roche cuts pipeline after research setbacks and sales drop