Tuesday, 17 July, 2018


Walmart just saw $30 billion in market cap destroyed by Amazon fears

Richard Drew — The Associated Press file Richard Drew — The Associated Press file
Conrad Doyle | 21 February, 2018, 10:50

This is also compounded by fears from the investor side that Walmart would not be able to keep up with Amazon (NASDAQ:AMZN)'s online retail business.

Its shares fell 9.4 percent as investors anxious that Walmart would not be able to keep pace with Amazon.com Inc, the world's biggest online retailer, as it struggles with managing its online business. Still, Walmart finished the year with more than 40 per cent growth in online sales in the USA, and it expects that online sales will be revived this year to hit that same pace. Yet Walmart finished the year with more than 40 percent growth in U.S. online sales and expects that online sales will be revived this year to hit that same pace. Amazon has leveraged its $99-a-year Prime membership program into intense loyalty from customers, and it recently stepped into Walmart's turf, no longer content with only online sales.

Walmart had to stock more items in its warehouses like toys, TVs, and other electronics, which are in high demand during the holiday period, he explained.

Walmart is digitizing its returns process.

For the full year, Walmart Inc. total revenues hit $500 billion, up 3.0%.

Walmart also said it is investing more in its website on a national basis and reducing marketing in Jet.com. The company also continued its three-year stretch of same-store sales growth in the US, with a 2.6% gain that exceeded estimates of 2%.

E-commerce sales grew 23%, a slowdown from 50% growth in Q3.

Fourth quarter sales and comps outperformed expectations while profit lagged. Analysts surveyed by Zacks were calling for $1.36 per share.

Walmart Inc. earned $2.17 billion, or 73 cents per share, in the three-month period ended january 31, versus $3.76 billion, or $1.22 per share, a year earlier.

The thinner margin resulted in a 42% drop in income for the fourth quarter, which included the holiday shopping period.

In January, the retailer said it would raise the minimum wage for hourly employees to $11 an hour and offered a one-time bonus to store employees as it benefited from the new US tax law.

6 percent gain in comparable sales in United States stores, which accounts for more than half of revenues. The retailer has recorded more than three straight years of USA growth, unmatched by any other retailer.

The company estimated its tax rate would be between 24 percent to 26 percent in the current fiscal year after the new tax law reduced the corporate tax rate to as low as 21 percent. "Creativity, decisiveness and speed are priorities", said McMillon.

Recommended

loading...
...
  • Most Americans say Trump, Congress not doing enough to stop mass shootings

    Most Americans say Trump, Congress not doing enough to stop mass shootings

    Somewhat similar numbers again were found in the CBS News Pulse nightclub poll - with 57 percent in favor such a ban back in 2016. Meanwhile, some 51% said armed teachers could have helped prevent the Parkland shooting, against 42% that leaned the other way.
    Ronaldo outdoes Messi in goal-scoring rate

    Ronaldo outdoes Messi in goal-scoring rate

    I play for Chelsea six years and I am happy here, my family is happy here and focus about the end of the season. This leaves Eden Hazard as a strong contender, with Zinedine Zidane wanting to replace Gareth Bale .

    Two Stable Stocks: Microsoft Corporation (MSFT), Facebook, Inc. (FB)

    Livingston Grp Asset Communications (Operating As Southport Management) invested 0.32% in Microsoft Corporation (NASDAQ: MSFT ). Adam Usdan decreased its stake in Middleby Corp (MIDD) by 51.69% based on its latest 2017Q3 regulatory filing with the SEC.
  • "Mr. Steven" joins the SpaceX drone ship fleet to catch rocket fairings

    SpaceX tries to re-use rockets, payload fairings, boosters and other parts to try to cut down on the cost of each rocket mission. The Falcon Heavy rocket will now help propel a number of space missions that weren't technologically feasible until now.
    Mavs' Mark Cuban: 'Losing is our best option'

    Mavs' Mark Cuban: 'Losing is our best option'

    After leaving the Mavericks, he took a position with Under Armour, but resigned after less than two months on the job. I had hundreds of interactions with players and never once had an issue...they always knew how to treat people.
    West Boca Raton High students stage 'End Gun Violence' walkout

    West Boca Raton High students stage 'End Gun Violence' walkout

    Nikolas Cruz , a 19-year-old former student, has been charged with the killings and faces the death penalty if convicted. Grady said he's ready to work as much as it takes to keep the gun-control movement's momentum going until he ships out.
  • Lindsey Vonn Wins Bronze In What's Likely Her Last Olympic Downhill Race

    Lindsey Vonn Wins Bronze In What's Likely Her Last Olympic Downhill Race

    Look back just four years ago to the race in Sochi and - for the first time in the history of the event there was a tie for gold. To complement her grandfather's inspiration, Vonn has also written the Greek word for "believe" on the thumb of her right glove.
    Trump visits Fla. hospital 2 days after attack

    Trump visits Fla. hospital 2 days after attack

    Ben Bennight, the 36-year-old YouTube video blogger from MS , noticed in September an alarming comment on a video he'd posted. An FBI agent confirmed a field officer in Jackson, Mississippi, received the tip and interviewed the person who shared it.
    Iceland 1st country to ban male circumcision?

    Iceland 1st country to ban male circumcision?

    About 336,000 people live in Iceland, including 250 Jews and 1,500 Muslims, according to government statistics and Seddeeq. Iceland is considering legislation that would make it the first European country to outlaw male circumcision in children.
  • Cahill admits Chelsea must be at their very best against Barcelona

    Cahill admits Chelsea must be at their very best against Barcelona

    Blues boss Antonio Conte is confident his side can defy the odds and get the better of Barca. You must play with only one idea: to try to win.
    Cyber attack similar to Bangladesh central bank hack

    Cyber attack similar to Bangladesh central bank hack

    Early past year , attacks at three Indian government-owned banks that involved fake trade documents sent via SWIFT were foiled . In December 2017, Russian state bank Globex said it was targeted by hackers who tried to steal 55m rouble via the Swift system.
    7th grader shoots himself at middle school

    7th grader shoots himself at middle school

    Students will be released to their parents in the near future. "All four elementary schools will remain closed for today". Jackson Township police said in a 2 p.m. news conference that distraction devices were found in the backpack.

Northern Cross LLC Sells 672262 Shares of Barrick Gold Corp (ABX) Northern Cross LLC Sells 672262 Shares of Barrick Gold Corp (ABX) The Stock now has Analyst' mean Recommendation of 2.3 where the scale is from 1 to 5, 1 means Strong Buy and 5 means Sell. The fund owned 6,268,841 shares of the basic materials company's stock after selling 672,262 shares during the quarter.

Air Italy: Sardinia's Meridiana aims to become Italy's new national airline Air Italy: Sardinia's Meridiana aims to become Italy's new national airline While Milan Malpensa is the airline's global hub, its headquarters will remain in Olbia, Sardinia, Meridiana's historic home. The image above was posted on the carrier's Twitter page , along with photos from a press conference held in Milan today.

Fonterra embraces A2 in joint marketing agreement Fonterra embraces A2 in joint marketing agreement A2 reported a $98.5 million net profit for the six months ended December, up from $39.4 million in the same period a year earlier. The Fonterra-sourced A2 milk - and possibly butter and cheese - may also be sold in Australia , the US, UK and South east Asia.

United Nations 'deeply alarmed' by situation in Eastern Ghouta United Nations  'deeply alarmed' by situation in Eastern Ghouta Since December a year ago , continued regime attacks have claimed more than 500 lives and injured over 2,000 people. About 400,000 people are trapped in eastern Ghouta, an area that has been under government siege for years.

Senate Vote Will Send Sunday Sales to Governor Senate Vote Will Send Sunday Sales to Governor A new tax bill has been introduced in the Wyoming state senate that would exempt cryptocurrencies from property taxation. She said it isn't a big deal for her department, because they already investigate those types of deaths.

Kaduna explains demolition of building housing APC secretariat Kaduna explains demolition of building housing APC secretariat This is on a series of arbitrariness of tyranny perpetuated by the governor against dissenting opposition voices in the state. Sani, however, called on President Muhammadu Buhari to caution the governor who has unleashed a reign of terror in the state.

Barnaby Joyce defiant despite leadership rumblings: 'I'm not going anywhere' Barnaby Joyce defiant despite leadership rumblings: 'I'm not going anywhere' The Liberal-National coalition has existed since 1923, with the National leader usually taking on the deputy prime ministership. The strain in the coalition comes as the government trails the centre-left opposition Labor Party in opinion polls for months.

Leganes vs Real Madrid 21 February 2018: La Liga Preview and Predictions Leganes vs Real Madrid 21 February 2018: La Liga Preview and Predictions Zidane's side are 10 points behind second-placed Atletico Madrid and a point behind Valencia in third. Villarreal are sixth after a 1-1 draw at Espanyol, while Real Sociedad beat Levante 3-0.

Aerial look at Ohio River floodwaters Aerial look at Ohio River floodwaters Catastrophic flooding resulted from a river level of 52 feet, some 40 feet over today's normal pool. The flood stage is 35 feet with the river continuing to rise to near 39.9 feet by Monday afternoon.

Chelsea performance nearly ideal for Conte Chelsea performance nearly  ideal  for Conte This game must give us a lot of confidence to trust that, in the second leg, qualification is open. I am very proud for my players.

BC Budget 2018: Balanced budget includes record capital spending, tax hikes BC Budget 2018: Balanced budget includes record capital spending, tax hikes The previous Liberal government introduced a 15 per cent tax on homes purchased by foreigners in Metro Vancouver in 2016.

Paddon fifth in Sweden Paddon fifth in Sweden Jari Matti Latvala placed the other Toyota Yaris WRC in seventh place, ahead of Teemu Suninen in the best ranked Ford Fiesta WRC . Toyota protege Takamoto Katsuta was 12th overall as he beat Pontus Tidemand by 4.5s to WRC2 glory.

Ex-football coach jailed for 30 years for abusing young players Ex-football coach jailed for 30 years for abusing young players Following the close of the prosecution case Bennell chose not to give evidence in his defence and none was called on his behalf. Bennell has been sentenced to 15 years in custody with the rest of the term on licence. "I'm proud that I did speak out".

Which Designer Will Meghan Markle Wear At Her Wedding To Prince Harry? Which Designer Will Meghan Markle Wear At Her Wedding To Prince Harry? The Duchess of Cornwall invited the future Royal to Clarence House for a chat about her forthcoming wedding to Prince Harry . George's Hall at Windsor for the event.

Trump Blames Obama For Not Doing Enough About Russia Meddling Trump Blames Obama For Not Doing Enough About Russia Meddling A State Department spokesperson said that potential sanctions targets "have been put on notice, both publicly and privately". When I easily won the Electoral College, the whole game changed and the Russian excuse became the narrative of the Dems.