Wal-Mart’s (WMT) same-store sales were light, by a lot.
For the four weeks of March, revenue was actually down 2% to $36.2 billion. International sales killed results by dropping 15% to $8.1 billion.
But, US same-store sales were well below most projections. up only 1.4%. With Sam’s Club factored out, sales at the flagship brand stores moved up only a tiny .6%.
Management said that April sales would pick up because of Easter and confirmed that quarterly earnings will be in the high end of the $0.72 to $0.77 per share range. But, with March results, the market faces a seed of doubt.
If Easter sales don’t match expectations, Wal-Mart’s stock is dead.
Douglas A. McIntyre
Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
