Monday, May 27

Walmart earnings jump 80 percent to USD 3.8 bn, US sales strong

The US retail giant Walmart reported a jump in first-quarter earnings Thursday on higher US store sales and eCommerce growth following heavy investment in new “omnichannel” retail ventures.

The world’s biggest retailer reported profits of USD 3.8 billion.

That’s an increase of 80 percent from the year-ago period when results were dented by a one-time earnings hit following US tax reform.

Shares rose in pre-market trading.

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