Walmart's e-commerce growth wanes, sending shares tumbling [CNBC]
Walmart Inc. (WMT)
Last walmart inc. earnings: 2/18 06:00 am
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Source: CNBC
Walmart on Tuesday reported earnings that missed analysts' expectations for the holiday period as its e-commerce operations cooled off, overshadowing the fact that same-store sales and revenue surpassed forecasts. The company's gross margins took a hit during the quarter due to promotional activity and an ongoing war with Amazon to win a larger share of the grocery and apparel industries. The Arkansas-based retailer has been investing heavily to keep inventory fresh and stores appealing. During the quarter, [Walmart] had additional EPS headwind related to some smaller unplanned items and expenses we incurred as we pulled forward initiatives in order to take advantage of a higher tax deduction, CFO Brett Biggs said. Meanwhile, sales made on Walmart.com slowed significantly, igniting fears that the big-box retailer won't be able to keep pace with Amazon.com. For comparison, Amazon's revenues, which include sales from grocer Whole Foods, jumped nearly 40 percent
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WMT
Earnings
- 2/20/24 - Beat
WMT
Sec Filings
- 3/28/24 - Form 8-K
- 3/27/24 - Form 144
- 3/27/24 - Form PX14A6G
- WMT's page on the SEC website