Wal-Mart Withstands Competitive Headwinds, Posting Decent Second-Quarter Comps; Shares Fairly Valued
Our $75 per share fair value estimate for wide-moat Wal-Mart remains intact after digesting second-quarter results that included 2.8% organic sales growth. In the U.S., comparable-store sales increased 1.6%, reflecting higher traffic (up 1.2%) and increased average ticket (up 0.4%), marking the eighth consecutive quarter of positive same-store sales growth and the seventh consecutive quarter of positive traffic for Wal-Mart U.S. This performance was even more impressive, given it came despite fo...Walmart is engaged in global operations of retail, wholesale and other units, as well as eCommerce, located throughout the U.S., Africa, Argentina, Canada, Central America, Chile, China, India, Japan, Mexico and the U.K. The company's operations are conducted in three reportable segments: Walmart U.S., which is a mass merchandiser of consumer products, operating under the Walmart and Walmart Neighborhood Market brands, as well as walmart.com, jet.com and other eCommerce brands; Walmart International, which includes various formats divided into retail, wholesale and other categories; and Sam's Club, which is a membership-only warehouse club that also operates samsclub.com.
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