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Walmart’s Tepid US Growth Amid Wet April Damps Enthusiasm - http://earlyretireonline.com | how to earn money fast

May 17, 2018 4:37 pm
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Walmart Inc. held its ground during an unseasonably wet first quarter, but it wasn’t enough to soothe investor concerns as competition online heats up.

Comparable sales at U.S. Walmart stores grew 2.1 percent in the three months ended April 30, the company said Thursday, just shy of analysts’ estimates. Customer visits had the slowest growth in more than a year, and while the retail giant said business has picked up in recent weeks, it didn’t assuage shareholders. The stock fell as much as 2.6 percent.

“Traffic and the U.S. comparable sales were softer than expected,” Chuck Grom, an analyst at Gordon Haskett Advisors, said by phone. “People are glass half-empty on the stock right now, so the bears grab that and run with it.”

Poor weather also buffeted Home Depot Inc. last quarter. At Walmart, it compounded a challenging overhaul abroad that has kept Chief Executive Officer Doug McMillon busy in recent months. The world’s biggest retailer generates most of its profits and sales in the U.S., and its heavy spending to lower prices and expand its online business has investors on edge.

 
 

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