How exactly will e-commerce shape Walmart's future?
Jim Cramer weighed in on just how important e-commerce is after Walmart WMT released earnings Tuesday morning.
Walmart said earnings came in at $4.14 billion, or $1.45 a share vs. earnings of $3.69 billion, or $1.27 a share, in the comparable year-earlier quarter. However, on an adjusted basis, the company earned $1.38 a share, less than the $1.44 a share expected by analysts polled by FactSet.
e-Commerce sales, on the other hand, came in strong--up 35%.
Walmart reported online sales growth of 37% for the year, which actually topped its internal growth targets of 35%.
“In the few weeks before Christmas, we experienced some softness in a few general merchandise categories in our U.S. stores," Chief Financial Officer Brett Biggs said in a statement, noting the company also experienced softness in some key international markets, as well as in Chile, "... where unrest led to disruption in the majority of our stores."
Executives on the company's post-earnings conference call said they expect a "couple of cents" of negative impact on the company's fiscal first-quarter due to the outbreak of COVID-19, which has impacted sales in the Far East, though the company is not officially factoring the coronavirus into its forecast for the new year.
Watch the video above for Cramer's full take on Walmart's earnings.
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