Weaker Holiday Spending Slows Walmart’s Growth
The holiday shopping period wasn't quite as cheery as Walmart (NYSE: WMT) hoped it would be. The world's biggest retailer on Tuesday announced fiscal fourth-quarter results that included a surprise growth slowdown -- but management is confident that the slump will be temporary.
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Comparable-store sales rose by 1.9% for the period, marking a deceleration from the over 3% increase the chain had noted in the prior quarter. In a press release, executives noted "softness in a few general merchandise categories" leading up to Christmas. That description syncs up with what Target said earlier in the month as it lowered its own 2019 outlook.
Source Fool.com
