By WSJ City 

Walmart's profit and sales rose over the winter holidays, a sign that the retail giant lured shoppers from rivals and that Americans continued to spend freely amid mixed economic signals. Shares rose.

KEY FACTS

   -- In the US, the company's comparable sales rose 4.2% in the January-ended 
      quarter. 
 
   -- Walmart had said it expected quarterly US comparable sales to rise at 
      least 3% from a year earlier. 
 
   -- It got a lift from the US government sending February cheques to 
      Supplemental Nutrition Assistance Program recipients in January...... 
 
   -- to ensure payment amid the federal government shutdown. 
 
   -- The results were mostly better than Wall Street had expected and the 
      company reiterated its financial forecasts for fiscal 2020. 

WHY THIS MATTERS

The numbers add to a string of positive quarterly sales for Walmart as it invests to grow online.Sales got a boost from Walmart's push into grocery delivery, investments to lower prices as well as strong sales of holiday purchases including toys.

A fuller story is available on WSJ.com

WSJ City: The news, the key facts and why it matters. Be deeply informed in less than five minutes. You can find more concise stories like this on the WSJ City app. Download now from the App Store or Google Play, or sign up to newsletters here http://www.wsj.com/newsletters?sub=356&mod=djemwsjcity

 

(END) Dow Jones Newswires

February 20, 2019 02:06 ET (07:06 GMT)

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