Dive Summary:
- Walmart reported better-than-expected fourth quarter profits on Thursday despite a meager 1% same store sales increase in U.S. stores, with fourth quarter profits up 7.9% to $5.6 billion and $1.67 earnings per share compared to $1.51 the previous year.
- Total fourth quarter sales were $127.1 billion, up 3.9% from $122.3 billion last year, helped slightly by a favorable currency exchange situation.
- The 1% U.S. comp increase was at the low end of a forecast range calling for a 1% to 3% increase, and the company is forecasting flat same store sales for the first quarter.
From the article:
... "Walmart topped off a really good year with a solid fourth quarter, and I'm proud of what we accomplished as a team," said Mike Duke, president and CEO of Wal-Mart Stores, Inc. Every day our associates around the world deliver on our mission to help customers save money so they can live better. Together, we added $22 billion in sales to top $466 billion. Walmart U.S. was a key driver of our 5% sales increase." ...
