Thursday, November 16, 2017

Walmart’s online sales explode; lifts profit outlook on strong third quarter

Walmart is heading into the crucial holiday season on fire, with the chain posting a 50% increase in online sales in its third quarter and topping the Street’s profit, revenue and comp sales estimates.

The retail giant’s total revenue rose 4.2% to $123.18 billion in the quarter, versus estimates of $121 billion. Net sales at Walmart’s U.S. operations totaled $77.724 billion, up from $74.550 billion in the prior-year period. Net sales at Walmart International rose 4.1% to $29.5 billion, with 10 of its 11 eleven markets posting positive comp sales.. . . more

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