Walmart Inc. (NYSE: WMT)

Walmart, the largest brick-and-mortar retailer in the world, reported its first-quarters earnings on Thursday. The results edged above Wall Street estimates thanks to significant net sales and revenue increases.

Despite the positive results the company reported yesterday, WMT shares have not made a significant change. At the time of writing, the shares were trading at $83.80 after losing $0.66, or 0.82%.

The retailer said it is working to increase its online grocery pickup in the US by around 1,000 outlets in 2018. For the full year, Walmart believes e-commerce sales will go up 40%. Earlier this month, the company purchased Flipkart, an Indian e-commerce firm, for $16 billion in a move aimed at competing with Amazon abroad.

WMT Earnings & Outlook

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Adjusted earnings for the first three months of 2018 stood at $1.14 a share, compared to the $1.12 consensus estimate. Total revenue, including its Walmart International and Sam’s Club units stood at $122.69 billion, compared to the $120.51 billion figure that analysts had predicted.

Wall Street also expected the company to report same-store sales growth of 2.0%, but the retail giant beat the estimate by 0.1%.

Walmart CEO Comments

Walmart Chief Executive Officer, Doug McMillon, made the following statement on the results: “We delivered a solid first quarter, and we’re encouraged by the continued momentum across the business. We’re transforming to better serve customers. We are changing from within to be faster and more digital, while shaping our portfolio of businesses for the future. Our strong cash flow and balance sheet provide flexibility to do so. I want to thank our associates and our leadership team for the choices they’re making, their strong sense of urgency and the actions they’re taking,” he added. “Our people make the difference, and I’m proud to work with them.” 

Walmart Inc. Company Profile

Walmart operates retail and wholesale businesses internationally. It has three segments of operation: Sam’s Club, Walmart International, and Walmart U.S. The company operates hypermarkets, supermarkets, warehouse clubs, supercenters, drug stores, cash and carry stores, membership-only warehouse clubs, convenience stores; discount stores, and e-commerce websites, like jet.com, shoes.com, walmart.com, Moosejaw.com, hayneedle.com, moosejaw.com, samsclub.com, amodcloth.com, and bonobos.com, and voice-activated commerce and mobile commerce apps.

Walmart sells natural and organics, meat, grocery products, produce, frozen foods, deli and bakery, nonalcoholic and alcoholic beverages, dairy, grocery products. It also offers other consumables, like beauty and health aids, household chemicals, baby products, health and wellness products, pet supplies, and paper goods.

The company also stocks video games, photo processing services, music, stationery, sporting goods, automotive, paint and hardware, apparel for men, women, boys, and girls. Other products offered by the retailer include home furnishings, jewelry, housewares, bedding, seasonal merchandise, crafts, fabrics, and toys, crafts.

Walmart also offers financial services, such as money and wire transfers, money orders, check cashing, prepaid cards, consumer credit services and bill payments. It operates several e-commerce websites and 11,700 stores under in 28 countries. It was founded in 1945 and its headquarters are located in Bentonville, Arkansas. –Reuters