Wal Mart clocks in with better than expected like-for-likes in Q2
Wal Mart´s sales jumped past forecasts in the latest reporting period.
Dow Jones I.A.
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04:30 15/10/20
Wal-Mart Stores Inc.
$84.47
11:09 14/11/24
Like-for-like sales at the largest retailer in the US grew by 1.6% in the second quarter of its 2017 fiscal year, easily outpacing analysts´ forecasts for a rise of 1.0%.
Total revenues rose 0.5% to $120.9bn, surpassing the $120.2bn anticipated by the consensus. On a constant currency basis, sales were up 2.8% to $123.6bn.
Global e-commerce sales grew by 11.8% at constant currencies.
Quarterly adjusted earnings per share printed at $1.07 (consensus: $1.02).
Free cash flow improved by $5.25bn to $10.3bn versus the year-ago period, the company said in a statement, thanks to improved management of its working capital needs, better inventory management and changes in the timing of payments.
Wal Mart also increased its guidance for full-year earnings per share to between $4.15 and $4.35 (consensus: $4.27).
As of 13:08 BST shares in Wal Mart were higher by 3.46% to $75.45.