Food Industry News

Wal-Mart's net income fell in the I quarter. to 7,8%

Net profit of Wal-Mart the world's largest US retailer, fell in the I quarter (on April 30) 2017 fiscal year 7,8% - up to $ 3,1 billion.

Revenue rose 0,9% - up to $ 115,9 billion, according to RNS citing the company's statement. At constant exchange rates revenue increased 4%.

Analysts expected the company to report earnings of $ 113,3 billion.

Operating profit decreased by 7,1% - up to $ 5,28 billion, at constant rates - to 4,6%, to $ 5,4 billion.

"We are proud of the results for the I quarter, and in many parts of our business there is positive dynamics", - said Executive Vice President and CFO of the company Brett Biggs.

Comparable sales of Wal-Mart in the United States increased by 1%, while analysts expected growth of only 0,5%.

Wal-Mart reported an increase in sales in all of its major foreign markets, except British. Especially strong was the dynamics of sales in Canada and Mexico.

Previously, Wal-Mart reported that expects to save in the current year, revenue at about the same level as in the past, including due to the strong dollar. It is also assumed that the profit will be reduced by 12%. Today, Biggs said that these forecasts remain valid.

See also ... 07/05/2014 Wal-Mart overtook Amazon in online sales20 / 02/2015 Wal-Mart increased quarterly profit by 12% 19/02/2016 Wal-Mart's quarterly profit declined16 / 10/2015 Wal-Mart stumbled over growing competition16 / 05/2014 Wal-Mart's quarterly profit fell 5% 08/06/2015 Wal-Mart loses $ 3 billion a year in the United States due to theft08 / 11/2013 Wal-Mart “offered” televisions to customers due to a failure for $ 1020/02/2015 Wal-Mart will take care of employees and image28 / 03/2014 Wal-Mart through the court demands $ 5 billion from Visa17 / 05/2013 Wal-Mart increased profits, despite sales decline in the USA21 / 02/2014 Wal- Mart announced possible profit reduction30 / 04/2015 Wal-Mart enters into a fight for the Chinese market 13/05/2015 WalMart earned 65% on water during a drought 29/05/2013 Wal-Mart fined $ 110 million for toxic waste 10/06/2015 Alibaba intends to bypass Wal-Mart by revenue

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