Walmart shares dropped about 1.6% to $104.79 Tuesday morning after the retailer reported its weakest U.S. comparable sales growth in six years. U.S. comparable sales rose just 2.6%, marking Walmart's first miss in five years, while store traffic increased only 1.5% and average spending per transaction edged up 1.1%. Revenue climbed 5.9% to $187.94 billion, global e-commerce sales jumped 23%, advertising revenue surged 38%, and operating income rose 28.8%. The stock still trades at roughly 37 times trailing earnings and only 1.8% above its GF Value estimate of $102.94.
Walmart Inc.Weakest U.S. comparable sales growth in six years and first miss in five years, with traffic up only 1.5%
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