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Walmart's first-quarter margins under pressure, e-commerce rebounds

Reuters  |  NEW YORK 

By Nandita BoseNEW YORK (Reuters) - Walmart Inc on Thursday said profit margins during the first quarter remained under pressure due to price cuts and higher freight costs, weighing on its shares even as sales and earnings came in stronger than expected.Walmart's gross margin, which has fallen for four consecutive quarters, was down 23 basis points in the quarter ended April 30. Within the U.S. division, operating income fell 3.1 percent from the prior year. Shares of the world's biggest retailer traded 1.6 percent down in afternoon trade after initially opening higher. The stock has ...

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First Published: Thu, May 17 2018. 22:55 IST
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