US retailer Walmart Inc on Thursday reported an estimate-beating jump in first-quarter US comparable sales, but overall revenue growth and online sales slowed.
Sales at US stores open at least a year rose 3.4%, excluding fuel, in the quarter ended 30 April. Analysts estimated growth of 3.1%, according to IBES data from Refinitiv.
Adjusted earnings per share increased to $1.13 per share, beating expectations of $1.02 per share.
Online sales rose 37%, slowing from the previous quarter's 43% increase but stronger than online sales growth at most of its brick-and-mortar rivals. The company has forecast a 35% increase in online sales this year.
Total revenue was up 1% at $123.9 billion (€110.8 billion) but lower than analysts' estimates of $125.03 billion (€111.8 billion) dragged down by currency impact and lower international sales. Excluding currency, revenue was up 2.5% at $125.8 billion.
News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.