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Walmart Delivers in Fourth Quarter, Especially Online

Women's Wear Daily -

Walmart Inc. on Tuesday provided good news for the U.S. retail sector, reporting its best quarterly results in recent years, including comparable-store sales growth of 4.2 percent. Walmart U.S. logged its strongest comp-store sales growth in nine years, 6.8 percent, when measured on a two-year stack. (U.S. comp sales rose 4.1 percent for the quarter, compared with a year earlier.) Last week, the U.S. Department of Commerce said retail sales continued to drop for the first two months of the 2019 first quarter, prompting a retail sell-off on Wall Street. Official figures showed retail sales across stores, restaurants and online slumped 1.2 percent in December, but the figures could be revised another one or two times. The retail and e-commerce giant easily beat Wall Street the analyst consensus estimate for adjusted earnings of $1.33 per share for the quarter, posting $1.41 per share. For the full year, earnings per share rose 11 percent to $4.91. Walmart’s e-commerce sales shot up 43 percent in the quarter, prompting president and chief executive officer Doug McMillon to sound an aggressive note to competitors such as Amazon, which last week decided to quit Long Island City, N.Y., as the site of its HQ2 amid backlash to tax

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