BENTONVILLE, Ark. — U.S. same-store sales at Wal-Mart Stores rose by 1.8% in Q4, but profits declined 18% as the retail giant invested in its thriving e-retail channel to up its competitive game against Amazon. Analysts surveyed by Thomson Reuters expected on average a sales increase of just 1.3%. Online sales surged by almost 30% on the strength of Wal-Mart’s acquisition of Jet.com and its online grocery sales. Net income fell to $3.76 billion from $4.57 billion a year earlier, while total revenues of $130.94 billion fell just short of the $131.22 billion estimated by analysts.
Sales up, profits down at Wal-Mart
Most Recent
Most Read
Steffan Yantzi joins Home Hardware stores as shareholder
Mon, April 29th, 2024
Looking for your next new hire? Hardlines Classifieds can help
Mon, April 29th, 2024
RONA adds six new affiliate dealers
Fri, April 26th, 2024
King Marketing gathers national team, celebrates achievements of its reps
Fri, April 26th, 2024
Aaron Jarosz promoted to lead Home Depot Canada's pro services
Thu, April 25th, 2024
New owners for Canadian Tire store in Innisfil, Ont.
Thu, April 25th, 2024
United Hardware merges with Do it Best
Thu, April 25th, 2024
Throwback Thursday: Ten years ago, Home Depot Canada started using stores as online showrooms
Thu, April 25th, 2024
CEO shares plans for Home Hardware’s 60th anniversary
Wed, April 24th, 2024
West Fraser posts Q1 financials
Wed, April 24th, 2024