Walmart Reports Mixed Q4, Shares Fall on Weak Guidance

Walmart’s (WMT) lackluster fourth quarter results were not surprising, given months of soft U.S. retail sales, according to one analyst. ‘Retail sales haven’t exactly been flying away,’ said James Hughes, chief market analyst at GKFX, based in London. ‘I think retail sales is a clear indication of what’s going on in the economy, because it shows you how people are behaving when they put their hands in their pockets. The fact that the numbers have been lower is a problem not just for Walmart, but for retailers in general.’ The company reported adjusted net income of $1.49 a share, beating estimates of $1.46. Revenue came in at roughly $129.7 billion, falling short of the $131 billion analysts were looking for. Meanwhile, the company expects ‘relatively flat’ net sales for fiscal 2017. TheStreet’s Scott Gamm has details from Wall Street.