Walmart's Q1 FY17 revenue up 4% to $119.42 billion

Excluding membership and other income, net sales was reported to be $114.98 billion as compared to $114.002 billion in the previous quarter, a rise of 0.9 per cent.

Comp sales increased for the seventh consecutive quarter, up 1 per cent, driven by the sixth consecutive quarter of positive traffic, up 1.5 per cent.

Globally, e-commerce sales increased 7 per cent during the quarter, while gross merchandise volume increased 7.5 per cent.

Commenting on the results, Brett Biggs, executive vice president and CFO of Walmart Stores said, “We are proud of the overall results in the first quarter, and there is momentum in many parts of the business.”

“Based on our views of the global operating environment, and assuming currency exchange rates remain at current levels, we expect second quarter fiscal 2017 earnings per share to range between $0.95 and $1.08,” he added. (MCJ)

Fibre2Fashion News Desk - India