Walmart sales surge, but profit takes a hit

Walmart swung to a loss in the fourth quarter as the sale of its Japan and United Kingdom divisions weighed on its performance. Sales, however, surged 7.4% increase in the period that includes the critical holiday shopping period.

The nation’s largest retailer also Thursday that sales at stores opened at least a year rose 8.6% for the period ended Jan. 31, compared with 6.4% in the previous quarter.

Online sales rose 69%, but that is down from the 80% jump in the previous quarter, and the slowest growth since the beginning of the pandemic.