FILE PHOTO: Walmart’s logo is seen outside one of the stores in Chicago, Illinois, U.S., November 20, 2018. REUTERS/Kamil Krzaczynski/File Photo
WASHINGTON (Reuters) – Walmart Inc (WMT.N) reported better-than-expected third quarter U.S. comparable sales on Thursday as people spent more at its stores and website, and the retailer raised its earnings outlook for the year.
Sales at U.S. stores open at least a year rose 3.2%, excluding fuel, in the quarter ended Oct. 31. Analysts estimated growth of 2.9%, according to IBES data from Refinitiv.
Adjusted earnings per share increased to $1.16 per share, beating expectations of $1.09 per share.
Online sales rose 41%, higher than the previous quarter’s increase of 37%, and above the company’s expectation of 35%.
Reporting by Nandita Bose in Washington; Editing by Steve Orlofsky