Walmart Meets Earnings Estimates for Second Quarter
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Walmart(BENTONVILLE, Ark.) — Walmart on Thursday reported earnings per share of $1.21 in its second quarter, keeping in line with analysts’ estimates.
In another bit of good news, the retail giant also announced its total revenue for the quarter ending July 31 was $120.1 billion — a 2.8 percent increase from last year.
Walmart, however, lowered its full-year earnings outlook as traffic to its stores fell slightly and comparable store sales remained stagnant.
“If you’re Walmart you’re at least temporarily seeing benefits from a strategy that constituted going back to your everyday discounting,” Paul Ballew, chief economist for Dun & Bradstreet, says. “…[B]ut it’s still a tough, tough environment in so many ways.”
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