Walmart's earnings outlook hints at a turbulent future

Reference News Agency, February 22 Report According to the Associated Press in New York on February 19, Walmart reported strong quarterly earnings again, as low-price commitments during the crucial holiday shopping season attracted a broader range of American consumers, including high-income households.

However, the company’s earnings outlook released on the 19th, headquartered in Bentonville, Arkansas, hinted at potential turbulence in the economic environment ahead.

Before the market opened, the company’s stock price fell nearly 3%.

Walmart reported that net income for the fourth fiscal quarter ending January 31 was $4.24 billion, or 53 cents per share. According to data from Huitian, adjusted earnings per share were 74 cents, beating Wall Street expectations by 1 cent.

In the same period last year, the company reported net income of $5.25 billion, or 65 cents per share.

Sales increased by 5.6%, from $180.6 billion to $190.7 billion, slightly above expectations.

Comparable store sales, including online sales, grew by 4.6%, compared to a 4.5% increase in the previous quarter.

Since the release of its last earnings report, Walmart’s stock price has risen over 25%. Earlier this month, the company became the first non-tech company with a market value exceeding $1 trillion.

The achievement comes amid many Americans having to tighten their belts due to inflation. Given its large customer base, the company’s performance is seen as a barometer of consumer spending. Walmart said more than 150 million customers shop at its online stores or physical locations each week. (Compiled by Yang Xinpeng)

【Source: Reference News】