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The Markets
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Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
by Proactive
Proactive UK has moved.
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Go to Proactive UK
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The Markets
by Proactive
Proactive UK has moved.
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Go to Proactive UK

Retail

Walmart Stores Inc shares head north as first quarter earnings impress

Shares in retail giant Wal-Mart Stores raced up almost 9% in New York as it posted first quarter earnings

Shares in retail giant Wal-Mart Stores Inc (NYSE:WMT) raced up almost 9% in New York as it posted first quarter earnings, which one analyst called "really impressive".

The first quarter earnings came in at 98 cents per share, where analysts had had expected 88 cents a share.

Revenue in the three months was $115.9bn against a figure last year of US$114.83bn.

US same-store sales were up 1% in the quarter, topping estimates of only a half percent increase.

Chief executive Doug McMillon said: "We are pleased to see the US comp result, strong performance outside the US, membership trends in Sam's Club, and EPS results versus guidance.

"In addition, we are focused on building the e-commerce capabilities we need to drive growth to a higher level and deliver the seamless shopping experience for customers they desire."

One analyst at JP Morgan described the quarter as "really impressive."

Shares rose almost 9% to stand at US$68.80 on the day.

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