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Wal-Mart Wins Broad-Based Victory – Long Positions Suggested on Rising Earnings Forecast - Capital Street FX
Wal-Mart Wins Broad-Based Victory – Long Positions Suggested on Rising Earnings Forecast
Wal-Mart Stores Inc. recorded big gains in both traditional brick and mortar stores and its e-commerce sales in the second quarter. The discount retailing giant reported earnings of $3.77 billion, or $1.21 a share, up from $3.48 billion profit, or $1.08 a share in the same quarter last year. Adjusted earnings which excludes the gains from the sale of its Yihaodian website in China, came in at $1.07 a share, beating the consensus estimate of $1.02.
While other rivals have to struggle with attracting foot-fall, Wal-Mart’s same-store sales rose 1.6% with traffic rising 1.2%. On the global e-commerce sales side, the company witnessed a 11.8% increase on a quarter-over-quarter basis. Boosted by current results and future projections, Wal-Mart confidently increased its full year adjusted EPS forecast to between $4.15 and $4.35, from prior expectations of $4.00 to $4.30, topping analyst forecasts of $4.27 EPS.
Buy Stop at 74.20, take profit at 75.20, stop loss at 73.75