Walmart U.S. sales rose 3.1% to $77.7 billion in the first quarter from $75.4 billion a year ago. (NYSE:WMT). Ruggie Cap accumulated 688 shares or 0.04% of the stock. The stock has fallen around 20 percent from an all-time high in January. E-commerce sales grew 1% year over year.
The weak margins overshadowed strong first-quarter results and progress in Walmart's efforts to keep pace with rivals like Amazon.com Inc. Walmart's net sales from worldwide business grew almost 12% to over $30 billion.
Walmart U.S. posted a comp gain in the first quarter, and the retailer pointed to the strength of its U.S. store base as well as e-commerce growth. The rebound in e-commerce follows a sharp slowdown which occurred over the crucial holiday quarter. Free for 14 days - no credit card required!
Despite impressive e-commerce growth at Walmart and Target, Cowen analysts said in a report this week that their cross-shopping analysis still indicates both retailers have increasingly more customer overlap with Amazon. US comparable-store sales grew 2.1 percent, and comp traffic edged up 0.8 percent.
In its guidance, the company cautioned that the deal was expected to negatively impact earnings per share in the current fiscal year by US$0.25 to US$0.30 if the transaction closes at the end of the second quarter. Walmart also intends to dispose of a majority interest in Asda Group, a grocery chain in the United Kingdom, to J Sainsbury.
Walmart also recently reached agreements to sell its banking operations in Walmart Canada and Walmart Chile, it announced on Thursday.
Wal-Mart Stores Inc. (NYSE:WMT) reported its EPS in the last quarter as $1.33/Share lagging the analyst estimate of $1.37/Share by a difference of $-0.04. While, the analyst predicted that the company could provide an EPS of $1.37/share. While talking about Performance of the Stock, Wal-Mart Stores Inc. now has a Weekly performance of 3.7%, monthly performance percentage is -2.01 percent, Quarterly performance is -15.31 percent, 6 months performance shows a percent value of -5.34% and Yearly Performance is 14.67 percent.
By the end of the year, Walmart expects its grocery delivery service to be able to reach 40% of the USA population.
Walmart said some consumers may have felt the pinch from rising gas prices, but consumer demand remained robust.
Walmart Inc., busy making deals overseas, struggled to gain back some momentum in its home market last quarter.
"Walmart has been lowering prices to drive more traffic but at the expense of profits", said Edward Jones analyst Brian Yarbrough. It also launched new private clothing brands.
Online grocery sales helped to fuel the bump. We Are One Seven LLC purchased a new stake in shares of Walmart in the fourth quarter valued at approximately $123,000. A long winter hurt demand in weather-related categories and led customers to consolidate trips, Walmart said.