Shares higher anyway
Shares of Wal-Mart are slightly higher today despite a weak holiday quarter and poor guidance that doesn't yet include any coronavirus impact.
For broader markets, the comments from WMT echoed other retailers who highlighted a soft holiday season a tepid sales growth. The company said US same-store sales were up 1.9% compared to +2.4% expected.
In a presentation after earnings the company said the coronavirus could cut EPS by a couple cents in the current quarter but that it remains highly uncertain.
"We don't know what will happen next," said CEP Doug McMillon. "There are so many moving parts right now."
He said that even though only a few stores have closed, many are operating on reduced hours and delivery costs have risen.
