Walmart’s first-quarter U.S. comparable sales rose, e-commerce slows

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Walmart's first-quarter U.S. comparable sales rose, e-commerce slows

FILE PHOTO: Walmart’s logo is seen outside one of the stores in Chicago, Illinois, U.S., November 20, 2018. REUTERS/Kamil Krzaczynski/File Photo

(Reuters) – U.S. retailer Walmart Inc on Thursday reported an estimate-beating jump in first-quarter U.S. comparable sales, but overall revenue growth and online sales slowed.

Sales at U.S. stores open at least a year rose 3.4 percent, excluding fuel, in the quarter ended April 30. Analysts estimated growth of 3.1 percent, according to IBES data from Refinitiv.

Adjusted earnings per share increased to $1.13 per share, beating expectations of $1.02 per share.

Online sales rose 37 percent, compared with the previous quarter’s 43 percent increase.

Total revenue was up 1 percent at $123.9 billion but lower than analysts’ estimates of $125.03 billion.

Reporting by Nandita Bose in Washington; Editing by Jeffrey Benkoe