Tuesday, February 18, 2020

Walmart Q4 comes up short — and so does outlook

Chain Store Age
Walmart Inc. reported disappointing holiday results as a shorter shopping season and weak demand for toys, video games and apparel cut into its results.

The retail giant on Tuesday reported fourth-quarter sales and earnings that missed Street expectations along with a 2021 earnings outlook that was also less than expected. In a statement, Walmart CEO Doug McMillon said that U.S. store sales leading up to Christmas were a “little softer” than expected. . . . more