Walmart Stores Inc has released its financial statement for the first quarter of the year, with earnings per share coming in above guidance and positive overall sales and income growth.
For the opening quarter of the year, Walmart saw diluted earnings per share of US$1.09, above guidance ofUS$1.01-US$1.06 and up from the US$0.98 per share last year.
Net sales across all of the group's segments came in at US$112.3bn, up 8.6 per cent on the US$103.4bn registered in the year-earlier period, while Walmart's consolidated net income stood at US$3.7bn, an increase of 10.1 per cent on US$3.4bn last year.
'We are very pleased that Walmart delivered earnings and comparable sales above guidance for the first quarter,' said Mike Duke, president and chief executive officer of Walmart Stores Inc. 'Despite a negative impact from currency, we grew sales and operating profit over last year.
'Our overall performance reflects the success of Walmart's business model; driving the productivity loop, leveraging expenses and investing in price leadership,' he added. 'We believe that the momentum throughout our business positions us very well for the rest of the year.'
By segment, Walmart US saw sales up 5.9 per cent to US$66.3bn and income up 8.1 per cent to US$5bn, while Sam's Club sales jumped 7.9 per cent to US$13.8bn and income climbed 7.7 per cent to US$490m.
The group's international division enjoyed particular growth, with sales strongest in Brazil, Mexico, and the group's UK arm, Asda. International sales grew 15 per cent to US$32bn, while operating income came in 21.2 per cent higher at US$1.3bn.
No comments yet