Walmart (NYSE:WMT) traded higher on Thursday after topping revenue and EPS expectations with its Q4 earnings report.
Comparable sales rose 5.6% in the U.S. for the crucial holiday quarter against a tough comparable from a year ago when the comp was +8.6%. Customer transactions were 3.1% higher during the quarter and average ticket was up 2.4%. Meanwhile, Sam's Club recorded a 10.4% jump in comparable sales off a 7.0% increase in transactions.
Total adjusted operating income for the quarter was $6.0B vs. $5.7B a year ago. Notably, consolidated operating expenses as a percentage of net sales was relatively flat compared to a year ago as WMT navigated higher supply chain costs and pandemic-related challenges well, while executing strategic initiatives.
Looking ahead, the retail giant expects sales to increase about 3% in constant currency in FY23. Walmart (WMT) also plans for share repurchases of at least $10B in FY23, which is a higher mark than anticipated.
Shares of Walmart (WMT) are up 2.55% in premarket action to $136.95 following the double earnings beat.