Walmart Q4 sales surge online and offline

Walmart on Tuesday reported a solid fourth quarter amid a big increase in online sales and higher store traffic. The company also announced it is raising its dividend.



Walmart earned $3.76 billion, or $1.22 per share in the quarter ended Jan. 31, compared with $4.57 billion, or $1.43 per share, in the year ago period. Walmart’s earnings were impacted by investments in its digital business as it continues to boast its defenses against Amazon and other online competitors.



Excluding certain items, earnings per share were $1.30, which was still slightly more than was expected.



E-commerce sales surged increased 29.0%, including Jet.com and online grocery.



Total revenue inched up 1.0% to $130.9 billion. Excluding currency fluctuations, it stood at $133.6 billion.



Walmart same-store U.S. sales increased 1.8%, easily beating analysts’ estimates, driven by a traffic increase of 1.4%. It was the chain’s tenth straight quarter of increases. Neighborhood Market comps increased approximately 5.3%.



“We’re moving with speed to become more of a digital enterprise and better serve our customers,” Doug McMillon, CEO of Walmart Stores, said in a statement.



The company announced a 2% dividend increase to $2.04 a share annually.