Walmart‘s fourth-quarter earnings felt short of Wall Street’s expectations on Thursday, as the retailer aims to turn the strength of its e-commerce business during the pandemic into lasting momentum and higher profits.
Shares are down nearly 5% in premarket trading.
The discounter’s e-commerce sales in the U.S. grew by 69% — a large number, but the slowest growth rate since the start of the global health crisis. Same-store sales in the U.S. grew by 8.6%, higher than the increase of 5.8% expected by a StreetAccount survey. Its subsidiary, Sam’s Club, also reported low single-digit same-store sales growth, excluding fuel and tobacco.
Walmart, however, cautioned that it expects sales to…