Walmart has reported a stellar Q4, boosted by a roaring 43 percent boost in online sales, causing its shares to jump more than 4 percent.
Revenue for the quarter narrowly beat industry estimates of $138.76 billion, hitting $138.8 billion. Meanwhile comparable sales in the U.S. rose 4.2 percent, helped by the stellar e-commerce boost.
According to CEO Doug McMillion, a “favorable economic environment” helped the company achieve its highest U.S. comparable sales growth in nine years, based on a two-year stack basis.
The results have been said to give overall confidence in consumer spending, with Walmart CFO Brett Biggs stating, “To us, the consumer looks like they’re in pretty good shape. Gas prices are down. … We’re always monitoring the consumer and are ready to act if things change, but we feel our guidance is good for the next year and our business model works well in most environments.”