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Walmart Q1 2019 result



Walmart (WMT), the world's largest retailer, reported a leap in profits in the first quarter, but missed sales.

Walmart posted adjusted earnings per share of $ 1

.13 in the first quarter, outperforming Wall Street analysts' expectations of $ 1.02.

Quarterly sales were $ 123.9 billion, compared to $ 124.94 billion.

Close sales were 3.4%, the best first quarter in nine years, according to the retailer. [19659005] "We are changing to allow for more innovation, speed and productivity, and we see this in our results," said CEO Doug McMillon in a statement and eCommerce in the US Our team today demonstrates the ability to serve customers and to develop new functions for the future at the same time, and I would like to thank them for the good start into the year. Walmart said its e-commerce sales grew 37% in the quarter. The quarter was driven by strong growth in online food as well as home and fashion at Walmart.com.

Food It was a bright spot for Walmart's e-commerce strategy, with more than 2,450 US-based grocery stores and nearly 1,000 outlets at the end of the quarter, and the retailer expects to supply 3,100 stores by the end of the year, and 1,600 stores

In the face of growing competition with the retail giant Amazon (AMZN), Walmart announced next week's delivery the following day with no membership fees for orders of $ 35 or more, and will begin in Phoenix and Las Vegas , before it expands to Southern California and gradually reaches 75% of the US population, the retailer said.

Otherwise, the retailer is watching the tariff situation, while the trade tensions between the US and China are increasing.

"We monitor collective bargaining and are confident that an agreement can be reached," said CFO Brett Biggs in a statement. "Our goal is to always be the lowest price leader, and we will actively manage pricing and margins, as will our clients and shareholders. Our dealer teams have been focused on this for months and continue to implement appropriate mitigation strategies. "

<p class =" canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) –sm "type =" text "content =" Julia La Roche is a finance reporter for Yahoo Finance Follow her on Twitter 19659014] "data-reactid =" 33 "> Julia La Roche is a finance reporter for Yahoo Finance , Follow her on Twitter .


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