Walmart gains on several fronts
Walmart ended 2018 with a bang. The Bentonville, Ark.-based retailer reported a net income for the quarter, which ended Jan. 31, of $3.69 billion or $1.27 per share, compared with $2.18 billion or 73 cents a share, a year earlier.
The nation’s largest retailer said its revenue climbed nearly 2 percent to $138.79 billion from $136.27 billion a year ago. Same-store sales rose 4.2 percent versus an expected growth of 3.2 percent.
Also, Walmart reported that its e-commerce sales grew 43 percent during the fourth quarter and 40 percent during 2018.
“Progress on initiatives to accelerate growth, along with a favorable economic environment, helped us deliver strong comp sales and gain market share,” said Doug McMillon, Walmart CEO and president. “ We’re excited about the work we are doing to reach customers in a more digitally connected way.”