AFP, NEW YORKUS retail giant Walmart Inc did not have a merry Christmas as disappointing toy and clothing sales hit the chain’s bottom line, the company said on Tuesday. However, the retailer, which is a staple for low-income households, saw sales slow in the fourth quarter ended Jan. 31. Global revenue increased 2.1 percent to US$141.7 billion in the quarter, falling below expectations of US$142.5 billion. “The fourth quarter was not our best,” McMillon told analysts on a conference call. Even with the disappointing results, Walmart posted a 12.3 percent gain in net income to US$4.1 billion in the quarter, with a 123 percent surge for the full year to just shy of US$15 billion.

Source: Taipei Times February 19, 2020 15:56 UTC