FY 2019, Walmart Lowers Earnings Forecast; Holds Annual Investors Meeting Today
BENTONVILLE, Ark. (KFSM) — Walmart hosts its investment community annual meeting Tuesday (Oct. 16). This is when the leadership team discloses the company’s vision for it future, and shares guidance metrics for the next fiscal year.
“We’re adapting and transforming with speed to better serve our existing customers and reach new ones,” said Walmart President and CEO, Doug McMillon. “We’re operating with discipline, balancing our short and long-term opportunities. While we’re excited about what we’ve done so far, we aren’t satisfied. As we execute today and build for tomorrow, our associates and unique omni-channel assets position us for success.”
Prior to the meeting, the retail giant announced that it lowered its 2019 fiscal year forecast for earnings per share. The company said it was due to the Flipkart acquisition.
As of early Tuesday, Walmart shares were down by nearly 1.1 percent in pre-market trading.
Each week, nearly 265 million customers and members visit our more than 11,200 stores under 55 banners in 27 countries and eCommerce websites. With fiscal year 2018 revenue of $500.3 billion, Walmart employs over 2.2 million associates worldwide, according to their website.