Walmart Has Strong 4th Quarter
CBJ — Walmart exceeded analysts’ expectations on both quarterly profit and revenue, and e-commerce sales surged during the Christmas holiday period.
The Bentonville, Arkansas based retailer is the first major U.S. retailer to deliver fourth-quarter results and its performance provides more evidence that efforts to expand services online as well as in the stores are widening the gap between itself and traditional rivals while at the same time, it’s holding its own against Amazon.
Walmart posted strong sales across a wide range of products from toys to groceries and electronics. That helped sales at stores open at least a year rise 4.2% at its U.S. namesake stores, following a 3.4% pace in the fiscal third quarter.
The company had a fourth-quarter profit of $3.69 billion, or $1.27 per share.
It’s also been ramping up grocery delivery and pickup options. Walmart now offers grocery delivery service at 800 stores and grocery pickup at 2,100 stores.