By Sarah Nassauer 

Walmart Inc. said sales rose in the most recent quarter, a sign that the retail behemoth continues to take market share from competitors and benefit from strong consumer spending ahead of the busy holiday shopping season.

U.S. comparable sales, those from stores and websites operating for at least 12 months, rose 3.2%, extending a four-year streak of quarterly sales gains. E-commerce sales rose 41% in the U.S. bolstered by online grocery orders.

But profits continued to come under pressure as Walmart spends heavily to lower product prices and grow online around the world. Operating income fell 5.4% from a year ago.

The comparable-sales growth and adjusted earnings were ahead of most Wall Street analysts' forecasts. Walmart shares gained 1.5% in premarket trading.

Walmart raised its guidance for the full year, as it often does during its third quarter earnings announcement. It said earnings per share will rise slightly for the full fiscal year. Previously Walmart said earnings per share would be flat.

Net income was $3.29 billion in the quarter ended Oct. 31, compared with $1.71 billion in the year ago period when Walmart booked a large loss on its investment in Chinese e-commerce site JD.com.

Write to Sarah Nassauer at sarah.nassauer@wsj.com

 

(END) Dow Jones Newswires

November 14, 2019 07:43 ET (12:43 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
Walmart (NYSE:WMT)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Walmart Charts.
Walmart (NYSE:WMT)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Walmart Charts.