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Walmart (WMT) Q1 2024

Walmart in Atlanta, Georgia, Sunday, February 19, 2023.

Dustin Chambers | Bloomberg | Getty Images

walmart The company raised its full-year forecast on Thursday after first-quarter sales grew nearly 8% and a large grocery business offset weak sales in clothing and electronics.

The company said it expects consolidated net sales to grow about 3.5% this quarter. Full-year adjusted earnings per share are expected to be in the range of $6.10 to $6.20.

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Chief Financial Officer John David Rainey said consumers are shrinking pack sizes, buying less discretionary items and waiting for promotions before buying expensive items like TVs. rice field.

Yet shoppers are still spending, he added.

Here’s what Walmart reported in the three months ending April 30, according to Refinitiv’s consensus estimates:

  • Earnings per share: $1.47 adjusted, $1.32 expected
  • Earnings: $152.30 vs. $148.76 billion forecast

Net income for the major retailer fell to $1.67 billion, or 62 cents per share, from $2.05 billion, or 74 cents per share, in the same period last year.

Total revenue increased to $152.3 billion from $141.57 billion a year ago, beating Wall Street’s expectations.

Same-store sales at Walmart US rose 7.4% excluding fuel. Key industry metrics include sales for stores and clubs that have been open for at least one year.US Walmart e-commerce sales up 27% year-over-year

Despite sales growth, Walmart has seen spending slow as the quarter progresses, Mr. Laney said. He attributed this to the end of emergency funding from the pandemic-related supplemental nutrition assistance program and lower tax rebates.

Walmart shares closed Wednesday at $149.53, giving it a market capitalization of $403.33 billion. The company’s stock is up nearly 6% year-to-date.The stock price is S&P500a profit of about 8%, XRTrose nearly 2% over the same period.

This is breaking news. Please check the latest information again.

Summarize this content to 100 words Walmart in Atlanta, Georgia, Sunday, February 19, 2023.Dustin Chambers | Bloomberg | Getty Imageswalmart The company raised its full-year forecast on Thursday after first-quarter sales grew nearly 8% and a large grocery business offset weak sales in clothing and electronics. The company said it expects consolidated net sales to grow about 3.5% this quarter. Full-year adjusted earnings per share are expected to be in the range of $6.10 to $6.20. Related investment newsChief Financial Officer John David Rainey said consumers are shrinking pack sizes, buying less discretionary items and waiting for promotions before buying expensive items like TVs. rice field.Yet shoppers are still spending, he added. Here’s what Walmart reported in the three months ending April 30, according to Refinitiv’s consensus estimates:Earnings per share: $1.47 adjusted, $1.32 expectedEarnings: $152.30 vs. $148.76 billion forecastNet income for the major retailer fell to $1.67 billion, or 62 cents per share, from $2.05 billion, or 74 cents per share, in the same period last year. Total revenue increased to $152.3 billion from $141.57 billion a year ago, beating Wall Street’s expectations.Same-store sales at Walmart US rose 7.4% excluding fuel. Key industry metrics include sales for stores and clubs that have been open for at least one year.US Walmart e-commerce sales up 27% year-over-yearDespite sales growth, Walmart has seen spending slow as the quarter progresses, Mr. Laney said. He attributed this to the end of emergency funding from the pandemic-related supplemental nutrition assistance program and lower tax rebates. Walmart shares closed Wednesday at $149.53, giving it a market capitalization of $403.33 billion. The company’s stock is up nearly 6% year-to-date.The stock price is S&P500a profit of about 8%, XRTrose nearly 2% over the same period.This is breaking news. Please check the latest information again.
https://www.cnbc.com/2023/05/18/walmart-wmt-q1-2024.html Walmart (WMT) Q1 2024

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