Walmart Posts Solid 3rd Quarter

Walmart posted a $0.98 EPS on total revenue of $118.2 billion, an increase of 0.7 percent, for its fiscal 2017 third quarter. Net sales at Walmart International were $28.4 billion, a decline of 4.8 percent. Globally, on a constant currency basis, e-commerce sales and GMV increased 20.6 percent and 16.8 percent, respectively, representing continued acceleration. U.S. comp sales were up 1.2 percent, thanks to a traffic increase of 0.7 percent. Consolidated operating income dropped 10.4 percent, mainly because of ongoing investments in people and technology, as well as currency exchange rate fluctuations. CEO Doug McMillon said the third quarter was solid and the company was positioned well for the fourth quarter and the holiday season.