Retail giant Walmart Inc. expects sales to continue their upward momentum for the fiscal year 2023 following the growth recorded in the previous year, the company announced in a filing.
- Walmart expects consolidated net sales to grow 3% in the fiscal year 2023. Its net sales climbed by 2.3% to $567.762 billion in the fiscal year 2022, after its net sales for the fourth quarter jumped 0.4% to $151.525 billion.
- Revenue for the fourth quarter increased by 0.5% to $152.9 billion from $152.1 billion, bringing the full-year revenue up by 2.4% to $572.8 billion for the fiscal year 2022 versus the $559.2 billion in the fiscal year 2021.
- Consolidated net income attributable to Walmart stood at $3.562 billion in the fourth quarter, rebounding from the $2.091-billion loss the previous year. Full-year consolidated net income jumped by 1.2% to $13.673 billion.
- Chief Executive Officer Doug McMillon said Walmart would continue with its aggressive plans, with its teams looking at navigating challenges of the industry and “reshaping” the business.
Diluted earnings per share were $1.28 in the fourth quarter and $4.87 for the full fiscal year. WMT is up 1.85%.