business news in context, analysis with attitude

Reuters reports this morning that Walmart’s second quarter US same store sales were down 0.9 percent, “marking the ninth straight quarterly decline as it tries to lure back bargain hunters.”

In its report, Walmart said that US same-store sales improved each month during the quarter, and claimed that while fewer customers were visiting its stores, their average transactions were higher.

The Financial Times reports that “net income at Walmart rose 5.7 per cent year-on-year in the second quarter to $3.8bn, or $1.09 a share. Total revenues were up 5.4 per cent to $109.3bn.” And Reuters says that “profit beat analyst expectations as international sales, sales at the company's Sam's Club unit and a push to rein in expenses helped offset U.S. same-store sales that came in below analysts' forecasts.”
KC's View:
Tick. Tick. Tick. Tick...