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As Retail Industry Continues To Sag, Walmart Booms

May 18, 2017: 12:00 AM EST
Walmart bucked depressing retail industry trends in the first fiscal quarter, posting a 1.4 percent increase in revenue to $117.54 billion, slightly less than the $117.74 billion expected by Wall Street. Earnings per share were up by two percent to $1.00, better than analyst expectations of $0.96 a share. The glowing performance in a time of limp retail sales was generally driven by aggressive pricing that increased store traffic by three percent (on a two-year stacked basis) and by successful expansion of its online business. E-commerce sales soared 63 percent, up from 29 percent growth last quarter, mostly due to organic growth and not acquisitions. Same-store sales grew for the 11th consecutive quarter. [ Image credit: ©   ]
"Walmart U.S. Q1 comps1 grew 1.4% and Walmart U.S. eCommerce GMV grew 69%, Company reports Q1 FY18 diluted EPS of $1.00", Earnings release, Walmart, May 18, 2017, © Walmart Stores, Inc.
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