Amidst its resounding success following the debut of its Silicon Valley-based tech startup, Store No. 8, Walmart misses its holiday earning target. With a project 4.6% increased revenue and $1.36 per share, the company managed a 2.6% profit and a $1.33 per share.
How Is Walmart Shaping Up?
According to the stock activity, Walmart (WRT) shares had a 103.09 open, 101.98 day low, and a 104.94 day high. As far as projected versus outcome activity is concerned, out of the 4.6 percent profit, the company managed only a 2.6 percent profit.
Furthermore, the projected $1.36 price per Walmart share decreased to $1.33 per share. Still, the company managed a $136,3 billion from sales compared to the forecasted $135,04 billion. Since the company has improved its e-commerce services, online sales have increased by 23 percent compared to last year.
In an attempt to top Amazon, last year Walmart bought Jet.com and also the Silicon Valley-based startup tech incubator dubbed Store No.8. Subsequently, the Walmart-owned Store No.8 acquired Spatialand, a VR-centered startup company.
According to a Store No.8 spokesperson, this move is the company’s way of making its grand debut on the VR stage, considered to be a milestone in the quest of improving the consumer’s experience.
As far as the company’s outlook, Walmart is expecting an average growth of $4.75 to $5 increase in earnings.
It would also seem that the company has decided to change its policies regarding employee earnings. According to a company’s spokesperson, since last month, a company’s employee earns $11 per hour and, at the end of the month can rake up to $1,000 in bonus. To further aid its employees, Walmart has also decided to review its internal policies regarding parental leaves and maternal benefits.
At the moment, based on the numbers, it would appear that neither Amazon nor Walmart has managed to pass one another.
Image source: Wikipedia