Wal-mart's Earnings Fall On Weak Us Holiday Shopping
Wal-Marts president and chief executive Doug McMillon, who took the reins of the company on February 1, said that increased spending on e-commerce and small-store construction was meant to increase our relevance to consumers. Quarterly earnings for the fiscal 2014 fourth-quarter fell to $4.4 billion, a sharp 21 per cent drop from $5.6 billion a year ago. Earnings per share fell to $1.37 from $1.68. The US results were a disappointment click here after Walmart executives vowed aggressive promotions heading into the crucial holiday November-December shopping season. Although the company characterised store traffic ahead of the Black Friday kick-off as brisk, the results suggested it was unable to sustain the momentum.