Wal-mart Stores (WMT) Reports In-Line Q2 EPS; Cuts FY15 EPS Outlook
Wal-mart Stores (NYSE: WMT) reported Q2 EPS of $1.21, in-line with the analyst estimate of $1.21. Revenue for the quarter came in at $119.3 billion versus the consensus estimate of $119 billion.
“I’m pleased with our solid earnings per share performance,” said Doug McMillon, Wal-Mart Stores, Inc. president and CEO. “As it relates to the positives from the quarter, I’m encouraged by the performance of our International business, our Neighborhood Market sales in the U.S. and by our e-commerce growth. As it relates to our challenges in the quarter, we wanted to see stronger comps in Walmart U.S. and Sam’s Club, but both reported flat comp sales. Stronger sales in the U.S. businesses would’ve also helped our profit performance.”
Walmart is continuing to invest in enhancing its e-commerce capabilities and McMillon pointed out the need to move quickly to serve customers more effectively.
“We see opportunities to improve in merchandising, pricing and store level service in our supercenters, and we are working to close those gaps,” added McMillon. “Our investments in e-commerce and mobile are very important, as the lines between digital and physical retail continue to blur. Our customers expect a seamless experience, and we’re working to deliver that for them around the world.”
Wal-mart Stores sees FY2015 EPS of $4.90-$5.15, versus prior guidance of $5.1-$5.45 and the consensus of $5.15.
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