Amazon (AMZN) who?
Despite a mind-blowing second quarter from Action Alerts PLUS holding Amazon, Walmart Inc. (WMT) managed to do some mind-blowing as well. Watch below for instant analysis of Walmart's 7-cent earnings beat on Thursday.
TheStreet Stats: 5 Key Takeaways
- Walmart's quarter should be viewed even more favorably considering how strong Amazon performed.
- Walmart U.S. same-store sales rose 4.5%, dusting Wall Street forecasts for 2.3 growth. The bar has been raised for rival Target (TGT) to deliver in a big way when it reports, especially as it has continued to sharpen its price points.
- Full year adjusted earnings guidance raised to $4.90 to $5.05 from $4.75 to $5.00. Signals Walmart seeing enough in its business to strike a confident tone on the key back to school and holiday selling seasons.
- Sam's Club same-store sales rose 5%, almost five times the performance of a year ago. Considering the warehouse format has long struggled, the results are likely to be nicely welcomed by Wall Street.
- Walmart's inventory continues to decline. It's positive to see Walmart doing more sales on lower inventory as it benefits from profit margins.