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Total Walmart sales for the quarter ended October 26 were $ 124.9 billion, up 1.4%.
Photo:
David J. Phillip / Associated Press
Walmart
Inc.
WMT -1.37%
has seen rising quarterly sales, continuing a strong growth pipeline as the world's largest retailer relies on online shopping and the strength of the US economy in anticipation of the busy holiday season.
Sales in US stores opened at least one year ago increased 3.4% in the quarter ended Oct. 26, including a 43% increase in e-commerce revenue. Walmart executives said that sales, which exclude volatile gasoline sales, will increase by at least 3 percent for the full year.
"We are executing our plan and enjoying a favorable economic environment in the United States," said CEO Doug McMillon in a statement.
Total quarterly revenues were $ 124.9 billion, up 1.4%, as lower international sales and currency conversions slowed overall gains. Walmart has abandoned control of its Brazilian operations and is merging its UK operations with a competitor to focus on its domestic operations and e-commerce activities.
Profit attributable to Walmart declined 2.2% from a year ago to $ 1.71 billion, or 58 cents per share.
The retailer increased its earnings outlook for the year ended January, indicating that earnings per share would be between $ 4.75 and $ 4.85, an increase from $ 4.65 to $ 4.80 over to the company presented in October. This estimate was reduced compared to the beginning of the year due to the purchase of the $ 16 billion Flipkart online trading company, as part of Walmart's plans to recast its international portfolio.
Walmart shares stagnated in pre-sale deals after closing at $ 101.53 on Wednesday. Shares are trading at a record $ 109.98, but have changed little since the beginning of the year.
Write to Sarah Nassauer at [email protected]
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