NEW YORK (Reuters) – U.S. retailer Walmart Inc (N:WMT) on Tuesday reported a lower-than-expected quarterly profit even as comparable sales in the U.S. market rose for the 14th consecutive quarter.
Sales at U.S. stores open at least a year rose 2.6 percent, excluding fuel, in the fourth quarter ended Jan. 31. Analysts forecast a gain of 2 percent, according to a poll by research firm Consensus Metrix.
Adjusted earnings per share increased to $1.33 per share, missing expectations of $1.37 per share, according to Thomson Reuters I/B/E/S.
Online sales grew 23 percent during the quarter, slower than the previous quarter’s 50 percent rise.