Walmart ups full-year guidance on strong third quarter
By Abigail Townsend
Date: Tuesday 16 Nov 2021
(Sharecast News) - US retail giant Walmart has upped its full-year earnings guidance ahead of the crucial festive shopping season, after a strong third quarter.
The group said on Tuesday that revenues had risen 4.3% to $140.5bn in the 13 weeks to 29 October, or by 3.3% to $139.2bn once currency fluctuations were stripped out.
Group operating income was largely flat at $5.8bn, impacted by divestitures, which contributed to a 20.1% decline in international net sales to $23.6bn.
Adjusted earnings per share were $1.45, compared to $1.34 a year previously
Chief executive Doug McMillon said: "Our momentum continues with strong sales and profit growth globally. Our omnichannel focus is pushing digital penetration to record levels. We gained market share in grocery in the US, and more customers and members are returning to our stores and clubs around the world.
"Looking ahead, we have the people, products and prices to deliver a great holiday season for customers."
The retailer now expects adjusted full-year EPS to be around $6.40, compared to prior guidance for between $6.20 and $6.35. Full-year US comparable sales are forecast to top 6% excluding fuel.
Walmart completed the sale UK supermarket chain Asda earlier this year to the Issa brothers for £6.8bn.
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