Walmart rang up record sales but warned of slower growth this year, sending its shares sliding.
The world’s biggest retailer reported full-year revenue of $681bn, the highest of any company worldwide and up by 5.1 per cent, or $32.9bn, from the year before. Operating income rose 8.6 per cent, near the lower end of management’s previous guidance.
For the current financial year, Walmart predicted weaker growth, with a rise of 3 to 4 per cent in net sales and 3.5 to 5.5 per cent in adjusted operating profit in newly published guidance, a deceleration from last year if realised.
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