November 15, 2018 / 12:11 PM / 7 months ago

Walmart's comparable sales beat estimates, e-commerce sales jump

NEW YORK, Nov 15 (Reuters) - Walmart Inc on Thursday reported a 3.4 percent rise in sales at U.S. stores open at least a year as more U.S. shoppers purchased goods at its stores and on its website, driven by a strong economy.

Comparable sales growth, excluding fuel, in the third quarter exceeded analyst forecasts of 2.87 percent, according to IBES data from Refinitiv.

E-commerce sales during the third quarter grew 43 percent after the previous quarter’s 40 percent advance. Walmart’s e-commerce performance has become a widely anticipated metric at a time when it battles rival Inc for market share.

Adjusted earnings per share increased to $1.08 per share, beating expectations of $1.01 per share.

The retailer raised its earnings forecast and U.S. comparable sales guidance, excluding fuel, for fiscal year 2019. (Reporting by Nandita Bose in New York Editing by Chizu Nomiyama)

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