WAL-MART Or Its Biggest Decline In 15 Years, A Day'S Market Capitalization Fell $20 Billion.
WAL-MART has cut its current annual sales forecast and expects no growth in sales during the year, after a 1%~2% increase of sales.
Analysts have forecast that WAL-MART's EPS will grow by 4% in fiscal 2017.
Wednesday,
Wal-Mart
The share price plunged nearly 10% to three years low, or hit the biggest decline in a single day in 15 years, and the market value dropped 20 billion dollars.
WAL-MART said wages and electricity providers increased investment in the 2017 fiscal year earnings per share or down 6%~12%, analysts have forecast an increase of 4%.
WAL-MART also lowered its current annual sales forecast.
Charles Holley, executive vice president and chief financial officer of WAL-MART, said it expects earnings per share in the 2017 fiscal year to decline by 6%~12%.
This decline is mainly due to the increase in WAL-MART's salary expenditure.
Electronic Commerce
Due to great investment.
Earlier, analysts predicted a 4% increase in WAL-MART's earnings per share in the 2017 fiscal year.
Holley explained that the 2017 fiscal year was a year of high investment by WAL-MART.
WAL-MART's spending on staff salaries and training has increased. In addition, efforts to improve user experience and continue to invest in electricity providers will have an impact of about $1 billion 500 million on operating revenue.
Earnings per share will decline in the 2017 fiscal year, but in the 2019 fiscal year, WAL-MART's EPS is expected to grow by 5%~10%.
WAL-MART also lowered its current annual sales forecast, with no growth in sales during the year, compared with an increase of 1%~2%.
The company pointed out that the impact of foreign exchange rates is larger than previously expected.
Excluding exchange rate factors, business revenue will increase by about 3% this year.
On the same day, WAL-MART announced a new $20 billion.
shares
Buy back plan.
Affected by poor earnings outlook, WAL-MART's share price fell nearly 10%, to a three year low, or the biggest decline in a single day in 15 years.
WAL-MART dropped only 20 billion dollars a day on Wednesday.
The volume of WAL-MART's stock surges, which is nearly 4 times the average trading volume in the last 30 days.
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