Categories: world

Walmart posts Strong sales profits for holidays

Total revenue in the quarter ended October 26 for Walmart was $ 124.9 billion, an increase of 1.4%. [19659003] Photo:David…

 Total revenue in the quarter ended October 26 for Walmart was $ 124.98 billion, an increase of 1.4%.

Total revenue in the quarter ended October 26 for Walmart was $ 124.9 billion, an increase of 1.4%. [19659003] Photo:

David J. Phillip / Associated Press

Walmart
Inc.


WMT -1.37%

showed higher quarterly sales and continued strong solid growth as the world’s largest retailer cranes for online shopping and a robust US economy before the busy holiday season.

Sales in US stores open at least one year increased 3.4% in the quarter ended October 26, including a 43% increased revenue in e-commerce. Walmart executives said that such sales, which exclude volatile gasoline sales, will grow at least 3% throughout the fiscal year.

“We are in a hurry when we implement our plan and benefit from a favorable economic environment in the United States,” said CEO Doug McMillon in a release.

Total quarterly revenue was $ 124.98 billion, an increase of 1.4% because lower international sales and currency overruns reduced overall profits. Walmart shifts control over its operations in Brazil and joins its British operations with a rival to focus on its domestic business and e-commerce.

Profit attributable Walmart was down 2.2% from one year ago to $ 1.71 billion or 58 cents.

The retailer increased its profit outlook for the fiscal year ending in January, saying that earnings per share will be between 4.75 and $ 4.85, from $ 4.65 to $ 4.80, released by the company in October. The estimate was lowered earlier in the year due to the purchase of Indian e-commerce Take a Flip Card of $ 16 billion, part of Walmart’s plans to recreate its international portfolio.

Walmart shares were flat in premarket trading after closing at $ 101.53 on Wednesday. The shares are traded close to a maximum of $ 109.98 but are small changes from where they started the year.

Write to Sarah Nassauer at [email protected]

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