The Bentonville, Arkansas-based Wal-Mart Stores, Inc (NYSE:WMT) reported that the co-heads of its Silicon Valley innovation group, @WalmartLabs, are quitting the corporation.
Wal-Mart Stores, the world’s biggest retailer, reported in an e-mailed statement on Thursday that Venky Harinarayan and Anand Rajaraman, who managed the 200 person business in San Bruno, California, would quit from the company and take break from the industry.
A spokesperson for @WalmartLabs Shernaz Daver reported in a telephone interview that they stayed with the company for a year and made a truly strong culture.
In January, the corporation picked Neil Ashe as president and chief executive officer of Global E-Commerce.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. PriceSmart, Inc. (NASDAQ:PSMT) fell -4.33% to settle at $64.37, Costco Wholesale Corporation (NASDAQ:COST) moved down -1.19% to end at $90.40 while Fred’s, Inc. (NASDAQ:FRED) plunged -2.69% to finish on Thursday at $14.84.
Wal-Mart Stores, Inc. (NYSE:WMT) last session volume of 9.84 million shares was surprisingly lower than its average volume of 11.81 million shares. The stock after opening at $68.49 hit high price of $68.66 and then closed at $67.70 by scoring -1.20%.
WMT generated revenue of 455.78 billion in the following twelve months and earned $16.08 billion. The Company showed a positive 3.68% in the net profit margin and as well as in its operating margin which remained 5.93%. Company’s annual sales growth for the past five year was 5.11%.
The WMT past twelve months price to sales ratio was 0.50 and price to cash ratio remained 28.22. As far as the returns are concern, the WMT return on equity was recorded as 24.01% and dropped 13.79% return on investment while its return on asset stayed at 8.75%.
The stock showed weekly upbeat performance of +0.10% which was maintained for the month at +6.23%. Likewise the positive performance for the quarter was recorded as +12.38% and for the year was +31.20% while the YTD performance remained at +14.82%.
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