Walmart (NYSE:WMT) saw its shares drop sharply Thursday, on the release of fourth-quarter financial figures.
Annual revenue was nearly $560 billion, which resulted in $35 billion of growth; $40 billion of growth in constant currency.
Q4 GAAP Earnings per Share came in at a loss of 74 cents; Adjusted EPS was$1.39. The Arkansas-based retailer said its decision to repay property tax relief in the U.K. lowered GAAP EPS and Adjusted EPS by $0.07; COVID-related costs were $1.1 billion in Q4.
“Walmart,” Thursday’s press release went on, “continues to build the next generation business model, investing in automation to fuel future sales and earnings growth. FY22 capital investments are expected to be nearly $14 billion to build supply chain capacity and automation to stay ahead of demand, improve the customer experience and increase productivity.”
Walmart says it will also invest in U.S. wages, raising the associate average to above $15 per hour.
Net sales, operating income and EPS are expected to decline in FY22 primarily due to the impact of anticipated divestitures. Excluding the effect of divestitures, net sales are expected to grow low single-digits with operating income and EPS expected to be flat to up slightly.
The company increased its dividend for the 48th consecutive year and approved a new $20-billion share repurchase program.
"With fiscal year 2021 revenue of $559 billion," the release concludes, "Walmart employs over 2.2 million associates worldwide."
WMT shares lost $8.99, or 6.1%, to $138.51.
