Walmart Extends Streak of Sales Growth
May 16 2019 - 8:01AM
Dow Jones News
By Sarah Nassauer
Walmart Inc. said its sales rose during the first quarter,
adding to over four years of sales increases as the retail behemoth
grabs market share from struggling competitors and grows
online.
Sales at U.S. stores and websites operating at least 12 months
grew 3.4% during the quarter ended April 26, boosted by online
sales, including grocery, and a strong Easter buying season, the
company said Thursday.
In the U.S., sales grew steadily throughout the quarter, the
company said, even as retail sales data released earlier in the
week showed a slight slowdown in spending in April. Meanwhile,
Macy's reported slightly better-than-expected comparable sales, up
0.6%, earlier this week.
Walmart stocked more goods during the quarter than the same
period last year. Inventories were up about 5.9% as the retailer
accelerated buying in some categories and bulked up product
quantities in its e-commerce fulfillment centers as it works to
deliver online orders more quickly.
Walmart faces higher potential product prices after President
Trump last week increased a tariff on about $200 billion of goods
imported from China to 25% from 10% and threatened a further set of
tariffs on all Chinese imports. Executives have previously said
they are working to bring some goods into the country ahead of
rising tariffs.
Write to Sarah Nassauer at sarah.nassauer@wsj.com
(END) Dow Jones Newswires
May 16, 2019 07:46 ET (11:46 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Walmart (NYSE:WMT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Walmart (NYSE:WMT)
Historical Stock Chart
From Apr 2023 to Apr 2024