Walmart CEO Doug McMillon said that last year’s fourth quarter “wasn’t our best” as the company’s fourth-quarter earnings report showed that the popular retail chain fell short of analysts’ expectations. McMillon associated the disappointing performance to slower and weaker demand for toys, apparel, and video games during the holiday season.
Walmart’s outlook for the upcoming year also came up short of expectations as the company expected a slower growth for e-commerce and online shopping this year. Walmart offered some justification to the forecast discrepancy between the company and some analysts. According to them, they have not included the possible impacts of the coronavirus outbreak on the market but assured that they are already monitoring the situation.
“Sales leading up to Christmas in our U.S. stores were a little softer than expected,” McMillon said in a statement.
Here are the highlights of the company’s report compared with what analysts were expecting for Walmart’s fiscal fourth quarter, based on Refinitiv data:
- Earnings per share: $1.38, adjusted, vs. $1.43 expected
- Revenue: $141.67 billion vs. $142.49 billion expected
- Same-store sales: up 1.9% in the U.S. vs. growth of 2.3% expected
In recent days, Walmart stocks rose less than 1%.