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Operating income at Walmart drops 11.2% in FY16
19
Feb '16
Operating income at the world's biggest retailer Walmart dropped 11.2 per cent year over year in fiscal 2016 ended January 31, 2016, which includes a 290 basis point impact from certain discrete items.

“Diluted EPS from continuing operations was $4.57, which includes certain discrete items that impacted the fourth quarter, in addition to other items,” a press release from the retailer revealed.

On a reported basis, total revenue was $482.1 billion for fiscal 2016, while on a constant currency basis; total revenue totaled $499.4 billion, an increase of 2.8 per cent over fiscal 2015.

“Globally, ecommerce sales on a constant currency basis grew 12 per cent to $13.7 billion, and GMV on a constant currency basis too rose 13 per cent,” Walmart added.

In the reporting fiscal, Walmart generated $27.4 billion in operating cash flow and returned $10.4 billion to shareholders through dividends and share repurchases.

For the full fiscal, the company paid $6.3 billion in dividends and repurchased approximately 62 million shares for $4.1 billion.

For the fourth quarter of fiscal 2016, on a reported basis, total revenue was $129.7 billion, while on a constant currency basis; total revenue reached $134.4 billion, up 2.2 per cent over a fiscal ago period.

Diluted EPS from continuing operations for the fourth quarter stood at $1.43, which Walmart said, includes the impact of discrete items and in the same quarter, adjusted EPS was $1.49.

The retailer further added that comparable sales at Walmart US were positive for the sixth consecutive quarter, up 0.6 per cent, driven by the fifth consecutive quarter of positive traffic.

For the quarter under review, Walmart International net sales touched $32.7 billion on a reported basis and $37.4 billion on a constant currency basis, up 3.3 per cent over the same quarter of prior fiscal.

The company paid $1.6 billion in dividends and repurchased approximately 39 million shares for $2.4 billion in the fourth quarter of fiscal 2016.

Return on investment for the trailing 12-months ended January 31, 2016 was 15.5 per cent, compared to 16.9 per cent for the prior comparable period.

“The decline in ROI was primarily due to our decrease in operating income, as well as continued capital investments,” Walmart explained.

Free cash flow was $15.9 billion for the 12-months ended January 31, 2016 as against $16.4 billion in the prior fiscal.

Here too, Walmart attributed the decrease in free cash flow to lower income from continuing operations, partially offset by lower capital spending and the timing of payments. (AR)

Fibre2Fashion News Desk – India


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