Online shopping makes Walmart shine

Online shopping makes Walmart shine

Walmart reported better than expected results due to the pandemic.

Since the pandemic took over, many businesses closed or managed to switch to online.

Walmart was one of those who worked on both fronts: online and physical stores. It seems that was the smart thing to do, as the Q1 financial report showed. The retail corporation reported a net income of $3.99 billion, with an EPS of $1.40. It is more significant than the last year's - $3.84 billion, and EPS of $1.18.

The revenue was $134.62 billion, 8.6% higher than last year’s $123.9.

The same-store sales 7.2% increase consensus was outperformed by the 10% posted. Online sales grew by a staggering 74%.

To keep up with the demand, Walmart hired 200,000 people to clean stores, to fulfill online orders, as people stockpiled on groceries, hand sanitizer, toilet paper, and personal care items.

The stock gained more than 3% in after-hours trading yesterday, and during today's pre-market session was up more than 1%.

Stay updated with the latest financial news! Register now and see what Capex has to offer!

Sources: cnbc.com, investing.com



The information presented herein is prepared by CAPEX.com and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only and as such it has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is not subject to any prohibition on dealing ahead of the dissemination of investment research.

Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.

Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance is not a reliable indicator of future results.