Walmart's U.S. e-commerce growth rebounds in Q1

18 May, 2018, 16:06 | Author: Austin Daniel
  • Walmart reports strong quarter but stock prices dip

Geode Capital Management LLC now owns 15,815,063 shares of the retailer's stock valued at $1,558,526,000 after buying an additional 440,989 shares in the last quarter.

Walmart Inc shares rose $1.60 (+1.86%) in premarket trading Thursday.

According to Finviz reported data, The SMA20 of the stock is at -0.01 percent, SMA50 is -0.82 percent, while SMA200 is -3.99 percent. E-commerce sales still account for a fraction of the retailer's revenue.

Investors anxious the retailer would not be able to keep pace with rival Amazon.com.

Walmart's e-commerce business bounced back as well, as sales were up 33% during the first quarter.

The e-commerce rebound comes after a slowdown during the holiday quarter. He said free two-day shipping boosted growth, and the Walmart.com site redesign helped late in the quarter. US comparable-store sales excluding fuel were up 2.1% (+2.2% with fuel), as the retailer saw slight gains in the average ticket (+1.3%) and traffic (+0.8%).

As Indian ecommerce unicorn Flipkart begins to examine regulatory approvals in view of Walmart's acquisition of a 77% stake in the company, the global retailer remains excited about what the future holds, especially after the deal. Walmart also intends to dispose of a majority interest in Asda Group, a grocery chain in the United Kingdom, to J Sainsbury.

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Walmart also recently reached agreements to sell its banking operations in Walmart Canada and Walmart Chile, it said on Thursday.

While Wall Street had been expecting earnings per share to come in at $1.12, the actual figure was $1.14.

Estimates: EPS to grow 12% to $1.12 on 2% revenue growth to $120.13 billion, according to Zacks Investment Research. US same-store sales, excluding fuel sales, were forecast to rise "at least 2.0%" and Sam's Club sales were forecast to rise 3% to 4%, excluding tobacco and fuel.

The big box retailer now boasts of four straight years during which it has enjoyed growth in the United States and this is a record no other retailer can match.

Walmart said some consumers may have felt the pinch from rising gas prices, but consumer demand remained robust.

Closer to home, Walmart is also trying to reach younger, urban and more affluent online shoppers, who have always been more of Amazon's core customer base than Walmart's. The company's USA grocery business and higher branded drug prices also boosted growth. "We see digital sales growth continuing to accelerate on a significant expansion in grocery pick-up services", he wrote. "We also have new brands in e-commerce including the partnership with Lord & Taylor, so there are a lot of different things driving growth there", said the Chief Financial Officer of Walmart, Brett Biggs, in a CNBC interview. A long winter hurt demand in weather-related categories and led customers to consolidate trips, Walmart said.

Retail giant Walmart has reported a total revenue of $122.7bn for the first quarter of FY 2019, which was 4.4% up on past year.

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