The News
Capital Coahuila
Capital Querétaro
Capital Edo. de Méx.
Capital México
Capital Mujer
Reporte Índigo
Estadio Deportes
The News
Efekto
Green TV
Revista Cambio
Digital
Prensa
Radio
TV

Swallowing $16B purchase of Flipkart, Walmart cuts outlook

By The News · 16 of October 2018 19:28:13
FILE- In this Feb. 22, 2018, file photo, a shopper loads her car after shopping at a Walmart in Pittsburgh. Walmart trimmed its annual profit outlook citing the $16 billion acquisition of the Indian online retailer Flipkart, its biggest deal ever. The company said on Tuesday, Oct. 16, however, that online sales growth would slow to 35 percent, from last quarter’s 40 percent growth. (AP Photo/Gene J. Puskar, File), No available, FILE- In this Feb. 22, 2018, file photo, a shopper loads her car after shopping at a Walmart in Pittsburgh. Walmart trimmed its annual profit outlook citing the $16 billion acquisition of the Indian online retailer Flipkart, its biggest deal ever. The company said on Tuesday, Oct. 16, however, that online sales growth would slow to 35 percent, from last quarter’s 40 percent growth. (AP Photo/Gene J. Puskar, File)

BENTONVILLE, Ark. (AP) — Walmart trimmed its profit outlook citing this year’s $16 billion acquisition of the Indian online retailer Flipkart, its biggest deal ever.

The company also said on Tuesday that U.S. online sales growth would slow to 35 percent, from last quarter’s 40 percent growth.

Since buying Jet.com for more than $3 billion two years ago, Walmart has been bulking up online, buying companies such as Bonobos and ModCloth. It’s also tried to speed up deliveries while expanding same-day grocery delivery.

The company says its online grocery pickup service is attracting new customers and shoppers are adding more items to their cart because of it.

Walmart also announced a partnership with Advance Auto Parts, which will create an automotive specialty store on Walmart.com. The online store is expected to be rolled out in the first half of next year. In a joint release, the companies said they plan to work together to explore such services as home delivery and same-day pickup in a Walmart or Advance store. The Roanoke, Virginia-based Advance Auto Parts operates nearly 6,400 stores.

Walmart Inc. now expects 2019 adjusted earnings of between $4.65 and $4.80 per share, down from $4.90 to $5.05.

Shares rose more than 2 percent, or $1.93, to $95.75 in afternoon trading.