Walmart Reports First Quarter Sales

Walmart reported first-quarter sales of $177.75 billion for the period ended April 30, beating analyst estimates of $174.84 billion. Net income reached $5.33 billion, or 67 cents per share, compared with $4.48 billion, or 56 cents per share, a year earlier.

Comparable U.S. sales, including online, rose 4.1 percent. Online sales in the U.S. increased 26 percent. The company said its focus on lower prices, broader merchandise selection, and faster delivery attracted shoppers across income levels.

Adjusted earnings per share came in at 66 cents, matching Wall Street expectations. For the second quarter, Walmart forecast sales growth of 4 percent to 5 percent and earnings per share between 72 cents and 74 cents, below the 75 cents analysts had projected.

The company maintained its full-year guidance of earnings per share between $2.75 and $2.85 and sales growth of 3.5 percent to 4.5 percent.

Other major retailers also reported results this week.

Target posted its largest comparable-sales increase in four years but issued a cautious outlook. Home Depot and Lowe’s noted strength in professional and spring-project sales while customers deferred larger discretionary home improvements. Lowe’s CEO Marvin Ellison said the current housing market is the most difficult he has seen since the financial crisis.

Retailers have faced uncertainty from President Donald Trump’s tariffs and rising gasoline prices linked to the Iran war that began in late February. The average price of regular gasoline is now about 45 percent higher than a year ago. Economists noted that generous tax refunds have supported spending so far, but many expect consumers to pull back once those refunds are exhausted.

“Our results reflect our continued focus on delivering across the enterprise — better shopping experiences, a broader assortment, and faster delivery,” CEO John Furner said in a prepared statement Thursday. Shares of Walmart slipped more than 2 percent in premarket trading Thursday.