Truckin’

15 November 2018 By Jennifer Saba Follow @jennifersaba

The retail giant reported better-than-expected U.S. sales at its stores and raised guidance for the year. E-commerce is humming along too. Investments in India and China have hit some bumps. But after Amazon warned of slowing growth, Walmart’s steadiness gives it an edge.

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Walmart reported on Nov. 15 that comparable sales in the United States increased 3.4 percent in the three-month period ended Oct. 26 from the same quarter last year. U.S. e-commerce sales rose 43 percent.

Third-quarter revenue rose 1.4 percent from the same period a year earlier, to $124.9 billion. Net income declined 2.2 percent to $1.7 billion, or 58 cents per share. Adjusted earnings, which excluded a loss of 48 cents on the company’s equity investment in Chinese online vendor JD.com, was $1.08, exceeding analyst expectations of $1.01, according to I/B/E/S data from Refinitiv.

The company raised its U.S. comparable-sales guidance for the year ending Jan. 25, 2019 to an increase of “at least” 3 percent from “about” 3 percent.

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