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4-Traders Homepage  >  Equities  >  Nyse  >  Wal-Mart Stores    WMT

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Wal Mart Stores : Asda 'on right track' despite falling sales

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05/19/2017 | 12:03pm CEST

ASDA has posted another fall in quarterly sales, but the supermarket's US owner has insisted that the company is "on the right track".

The chain, owned by Walmart, reported a 2.8% fall in like-for-likes sales in its first quarter.

The figure represents an 11th consecutive quarter of sales declines but marks a slight improvement on the previous period, which saw Asda sales fall 2.9%.

Asda chief executive Sean Clarke said: "We're pleased that the momentum of the fourth quarter has continued into the New Year with a third consecutive quarter of improvement.

"We're delivering more consistently for our customers, particularly in fresh food, service and availability - both in stores and online.

"Despite this progress we are in no way complacent and there is still much for us to do."

Mr Clarke, who took up the reins last summer after being parachuted in to replace previous boss Andy Clarke, has slashed the prices of everyday items as he attempts to arrest falling sales.

Last August Asda posted its worst ever sales fall of 7.5%. In response, it announced in September it was lowering thousands of prices on everyday favourites by an average of 15%, with items such as beef, chicken and sausages all becoming cheaper.

In a trading update, Walmart said it is confident that Asda is "on the right track". Walmart chief executive Doug McMillon said: "We've made some progress in the UK."

© Copyright © 2017 Express & Star, All rights reserved., source Newspapers

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Financials ($)
Sales 2018 496 B
EBIT 2018 22 726 M
Net income 2018 13 002 M
Debt 2018 39 608 M
Yield 2018 2,57%
P/E ratio 2018 18,58
P/E ratio 2019 17,20
EV / Sales 2018 0,56x
EV / Sales 2019 0,55x
Capitalization 238 B
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Wal-Mart Stores Technical Analysis Chart | WMT | US9311421039 | 4-Traders
Technical analysis trends WAL-MART STORES
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 33
Average target price 82,2 $
Spread / Average Target 3,4%
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Managers
NameTitle
C. Douglas McMillon Chief Executive Officer & Director
John Furner President
Gregory B. Penner Non-Executive Chairman
Brett M. Biggs Chief Financial Officer & Executive Vice President
Jeremy King Chief Technology Officer & Executive VP
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