Walmart reports fourth-quarter and full-year sales growth
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Walmart, the largest retailer in the US and the world, informedthat in the fourth quarter of fiscal year 2023 (ended by the company on January 31), its sales amounted to $164 billion, which is 7.3% more than a year earlier. Net income was $6.3 billion, up 76.2% from a year earlier.
For the entire fiscal year 2023, the company’s sales were $611 billion, up 6.7% from the previous fiscal year. Net profit reached $13.7 billion, down 14.6% from a year earlier.
Analysts notethat the company managed to end the year on a positive note, largely due to discounts it made during the pre-holiday sales season in order to attract consumers to stores against the backdrop of rising inflation. At the same time, Walmart gave a very cautious sales forecast for the current year. It turned out to be below analysts’ expectations – an increase of 2-2.5% compared to forecasts of 3%. “Consumer sentiment is still under significant pressure,” said in an interview with the TV channel. CNBC Walmart CFO John David Rainey.
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