Walmart’s comparable sales beat estimates, e-commerce sales jump

FILE PHOTO A cashier smiles beyond a Walmart logo during the kick-off of the ‘El Buen Fin’ (The Good Weekend) holiday shopping season, at a Walmart store in Monterrey, Mexico, November 17, 2017. REUTERS/Daniel Becerril/File Photo

NEW YORK (Reuters) – Walmart Inc (WMT.N) on Thursday reported a 3.4 percent rise in sales at U.S. stores open at least a year as more U.S. shoppers purchased goods at its stores and on its website, driven by a strong economy.

Comparable sales growth, excluding fuel, in the third quarter exceeded analyst forecasts of 2.87 percent, according to IBES data from Refinitiv.

E-commerce sales during the third quarter grew 43 percent after the previous quarter’s 40 percent advance. Walmart’s e-commerce performance has become a widely anticipated metric at a time when it battles rival Inc (AMZN.O) for market share.

Adjusted earnings per share increased to $1.08 per share, beating expectations of $1.01 per share.

The retailer raised its earnings forecast and U.S. comparable sales guidance, excluding fuel, for fiscal year 2019.

Reporting by Nandita Bose in New York; Editing by Chizu Nomiyama

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