Walmart, America's largest retailer, reported subpar holiday sales Tuesday, reflecting a weak holiday shopping season for the brick-and-mortar retail industry.
Sales at stores and websites open for at least one year — a key measure of the retailer's health— increased only 1.9% during its final quarter of 2019. That included a 35% spike in online sales. Walmart was hoping for a better performance.Macy's just dealt a big blow to the struggling American mall"In the few weeks before Christmas, we experienced some softness" in toys, video games and clothing, Walmart chief financial officer Brett Biggs said in a news release.
There were six fewer days this year between Thanksgiving and Christmas than last year.The company missed Wall Street's expectations for sales and profit, sending shares of Walmart down slightly in pre-market trading. Heading into Tuesday, Walmart's stock has rallied 19% over the past 12 months.
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