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Walmart Shares Gain On A Down Day
Shares of mega-retailer Walmart rose 4% yesterday even as the broader market turned significantly lower in response to growing fears over a Russian invasion of Ukraine. The gains for Walmart came after the company reported stronger than expected fourth quarter revenues and earnings.To get more news about nsfx review, you can visit wikifx.com official website.
Walmart revenue came in at $152.87 billion vs. $151.53 billion expected, while earnings were $1.53 a share versus $1.50 expected. Same store sales grew at a 5.6% pace. Results were even stronger from Walmart owned Sam’s Club, with same store sales increasing 10.4% while membership income was up 9.1%.
Walmart management said that shoppers returned to its stores for gifts and groceries over the holiday shopping season. They also pointed to the various initiatives Walmart has embarked upon in order to diversify the business as positive growth drivers in the past quarter.
Walmart is also focused on keeping consumers happy during the current inflationary period. In regard to that the company is working hard to keep prices competitive even as wholesale prices continue to rise. Fortunately for Walmart this type of environment actually plays to its core strength as a discount retailer.
Revenues aren’t only headed higher on price increases. Walmart also reported a 3.1% increase in store and online traffic in the fourth quarter, with market share gains seen in its grocery business.
Walmart reported growth in its non-retail businesses as it looks to diversify and find business that deliver greater margins. Those include a subscription service, a fintech startup, and a last mile delivery service. Walmart is also putting high hopes into its fledgling advertising business, called Walmart Connect. That advertising business has already grown to $2.1 billion and active advertisers rose 130%.
The Wall