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Sales soft at Walmart, Q3 challenging too
Walmart lowered its full year profit forecast early Thursday after reporting weaker that expected second quarter same store sales at its U.S. division and suggested global economic conditions remain challenging.
Total company net sales increased 2.8% to $116.7 billion on a constant currency basis and profits increased 1.3% to $4.1 billion while earnings per share grew 5.1% to $1.24. That was a penny below the consensus forecast of analysts, although earnings per share included a charge related to international operations that reduced earnings by a penny.
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Dillard’s Q2 profit on the upswing
Little Rock, Ark. -- Dillard’s saw net income rise to $36.5 million in the quarter ended Aug. 3, compared with $31 million in the same period last year.
Revenue was flat at $1.48 billion and same-store sales edged up 1%, boosted by strength from ladies accessories and lingerie.
“Positive comparable store sales and gross margin expansion combined with continued expense control enabled us to report another quarter of year over year improvement,” said CEO William T. Dillard II.