Walmart reveals that more wealthy Americans shopped there during the holidays than usual | Fortune

"Walmart delivered another standout quarter as the promise of lower prices and speedy deliveries drew in a broader spectrum of Americans during the critical holiday shopping period, including wealthier households. The outlook from the Bentonville, Arkansas, company, however, hinted at a volatile economic environment ahead on Thursday. Shares dipped more than 3% before the opening bell. Walmart reported fourth quarter earnings of $4.24 billion, or 53 cents per share for the quarter ended Jan. 31."

"Sales rose 5.6% to $190.7 billion, from $180.6 billion, also edging out expectations. Comparable sales at Walmart stores, including online sales, rose 4.6% after a 4.5% increase in the previous quarter. Sales were broadly stronger, particularly groceries, which have been an enormous generator of traffic for Walmart, the company said. And Walmart said. Speedier deliveries helped fuel the sales momentum, with expedited deliveries under three hours accounting for 35% of orders from stores, the company said."

"It is the first quarter time in more than a decade that the retail giant is reporting quarterly earning under a new chief executive. John Furner, 51, who headed the company's U.S. operations, took over for Doug McMillon this month. McMillon had turned America's largest retailer into a tech-powered giant and spearheaded an era of robust sales growth after being named Walmart's CEO in 2014."

Walmart reported fourth-quarter earnings of $4.24 billion and adjusted EPS of $0.74, with sales rising 5.6% to $190.7 billion and comparable sales up 4.6%. U.S. e-commerce grew 27%, accounting for 23% of total sales, while global e-commerce rose 24%. Grocery strength and expedited deliveries under three hours, which made up 35% of store orders, increased traffic and helped fuel momentum. John Furner succeeded Doug McMillon as CEO this quarter. Shares have risen over 25% since the last report and the company briefly exceeded a $1 trillion valuation, even as management signaled a potentially volatile economic outlook ahead.

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