Walmart ( WMT), the world’s largest retailer, reported a first quarter earnings beat and revenue in-line with expectations.
For the first quarter, Walmart delivered adjusted earnings per share of $1.13, surpassing Wall Street analysts’ expectations of $1.02.
Revenue for the quarter came in at $123.9 billion, compared to estimates of $124.94 billion.
The retailer said it’s monitoring the tariff situation as trade tensions increase between the U.S. and China.
“We’re monitoring the tariff discussions and are hopeful that an agreement can be reached,” CFO Brett Biggs said in a statement. “Our goal is to always be the low-price leader, and we will actively manage pricing and margins as warranted with our customers and shareholders in mind. Our merchant teams have been focused on this for months and continue to execute appropriate mitigation strategies.”
With competition intensifying with retail giant Amazon ( AMZN), Walmart announced that it will roll out next day delivery without a membership fee for orders o f $35 and more.
The offering will begin in Phoenix and Las Vegas before expanding to Southern California and gradually reaching 75% of the U.S. population, the retailer said.
Source:: Daily times