Why is Wal-Mart (WMT) Stock Down Today?

Feb 28, 2016, 03:35

But he noted that in the US, the online sales pace has been at or above the overall industry increase. For the fiscal year 2017 (FY17), the giant retailer expects to achieve EPS within the range of $4.00-4.30 a share, representing a decline of 6-12% year-over-year (YoY) basis. The retailer said that it bought back 39 million shares for about $2.4 billion in the fourth quarter.

Wal-Mart sales increase every year. The metrics were adjusted for currency fluctuations. Wal-Mart Stores Inc was the topic in 39 analyst reports since August 14, 2015 according to StockzIntelligence Inc.

Speaking on Thursday's earnings conference call, Neil Ashe, head of Walmart's e-commerce business, struck an optimistic tone, noting that the company saw a dramatic spike in orders on Thanksgiving and Cyber Monday compared with a year ago. Wal-Mart made improvements to both its supply chain and stores recently in an effort to combat empty and disorderly shelves that customers had complained about in the past.

The retailer attributed the deceleration to increased competition in the U.K.as well as economic downturns in Brazil and China.

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"Wal-Mart is a very, very successful retailer, the most efficient distributor of goods in the world", Egelanian told Retail Dive. The company did not break out regional e-commerce figures.

"We are seeing momentum in our Wal-Mart U.S. business", said Doug McMillon, president and CEO of Wal-Mart in a statement.

The news source writes that over the past year, Walmart has concentrated on improving operations through the basics: in-stocks and operational efficiencies. Since November however, when Wal-Mart shares started recovering and outperforming the Dow, so have its competitors Target Corp. "If there is one piece Walmart knows in the US, it is grocery, so I think that is a logical move forward", says Robert Drbul, an analyst with Nomura Securities.

Cook & Bynum Capital Management Llc holds 20.48% of its portfolio in Wal-Mart Stores, Inc. for 529,529 shares. "They really need to double down on that because competing with Amazon on price is proving to be a bad idea".

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"Our new platform was powering the front- and back-end shopping experience for the first time during the holiday". He said he was happy with continued foot traffic growth, up 0.7%, even if average tickets were down slightly. Globally, sales in the fourth quarter fell to $128 billion, down from $130 billion the previous year.

The retailer also said it expected net sales to be flat in its new fiscal year, down from a previous forecast for 3-4% growth. Hariharan said. "Wal-Mart has to do some soul searching and figure out what it stands for". Its US same-store sales increase also was slow last quarter, rising just 0.6 per cent. That fell short of the 1 per cent analysts had predicted.

Wal-Mart said its fourth-quarter net income fell 7.9%to $4.57 billion, or $1.43 a diluted share. Among utilities, NextEra Energy advanced 80 cents, or 2.5 percent, to $114.23 and FirstEnergy jumped $1.56, or 4.8 percent, to $33.84.

The shares dropped as much as 5.2 per cent to $62.65 in early trading after the results were posted.

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