Here, your earnings recap for the week.
The mega retailer this week spooked investors — sending shares plummeting — when it posted decelerating digital sales growth and missed profit forecasts.
After several quarters of robust online growth, the retail behemoth — which has steadily ramped up its efforts to compete with digital powerhouse Amazon — said e-commerce sales and gross merchandise volume at Walmart U.S. increased 23 percent and 24 percent respectively, a slowdown compared with previous periods when e-commerce sales grew as much as 50 percent.
Overall, the largest private employer in the U.S. — which last month promised to use new corporate tax kickbacks to up its employee minimum wage — said it’s fourth-quarter profits were $1.33 per share, 4 cents shy of analysts’ bets for adjusted earnings per diluted share of $1.37. On a reported basis, earnings per diluted share were 73 cents.
Revenues increased 4.1 percent to $136.3 billion, topping projections for revenues of $134.9 billion. Walmart U.S. comp sales increased 2.6 percent and comp traffic increased 1.6 percent.
Wolverine World Wide Inc.
Shares for Wolverine Worldwide swiftly descended into the red on Wednesday when the firm posted fourth-quarter revenues that missed expectations.
The Rockford, Mich.-based owner of Sperry, Merrell, Saucony and other popular shoe brands said its Q4 revenues fell more than 20 percent to $578.6 million, missing analysts’ bets for revenues of $580.3 million. The firm also widened its net loss to $60.8 million, or 65 cents per diluted share, from $2.4 million, or 2 cents per diluted share. On an adjusted basis, earnings per diluted share were 41 cents, a 20 percent gain year-over-year and in line with analysts’ forecasts.
The company also unveiled a new growth plan, focused on speed-to-market and international growth.
The owner of Durango, Georgia Boot, Creative Recreation and other footwear brands this week posted flat year-over-year fourth-quarter sales at $67 million. It rebounded from a net loss of $600,000, or 9 cents per diluted share, in the year ago period, to post net income of $4.4 million, or 59 cents per diluted share.
Next up on the earnings calendar are Steve Madden and Macy’s Inc., due to report fourth-quarter results on Tuesday.