Source: Benzinga Feeds
Walmart Inc (NYSE: WMT ) reported lower than expected fiscal fourth-quarter earnings as well as guidance that was quite shy of forecasts. These factors managed to overshadow a rise in fourth-quarter net income as the retailing giant issued guidance that didn’t meet analyst estimates for the quarter ending Jan. 31. Earnings Report Despite the fact that Walmart did not perform as expected during the holiday season due to “softer” sales of toys, media, gaming, and apparel, not all is that bad, far from it actually. E-commerce sales, that the retailer is investing heavily on, rose 35 percent. Revenue did rise 2.1% to $141.67 billion, but less than analysts expected which was $142.5 billion. U.S. comparable-store sales rose 1.9%, resulting in 12% rise in net income to $4.14 billion. Adjusted earnings per share amounted to $1.38 versus the $1.44 expected. It is the lack of newness in gaming, a shorter holiday shopping season, and even a warmer winter that has beyond depressed sales of not only Walmart, but other retailers.