Walmart upbeat on outlook as sales growth continues

Washington: Global retail giant Walmart is more upbeat about earnings for the year, despite tamping down expectations just a month ago, after posting sales growth across all its business lines and most regions.
The company has been buffeted by investments and sell-offs as it tries to position the chain to compete in the changing and competitive retail and e-commerce sector.
“Each of our segments achieved solid sales growth,” Walmart chief Doug McMillon said.
Just a month ago the retailer trimmed its profit forecast for the year but with improving sales and increased traffic in its stores the company said total revenue had jumped 1.4 per cent in the third quarter to $124.9 billion.
At the same time, the key metric of comparable store sales — those at existing outlets rather than new stores — rose 3.4 per cent in the United States, as customer traffic rose 1.2 per cent in the three months ended October 26. — AFP