Walmart earnings fall short of estimates, sending shares lower

Walmart reported earnings that missed analysts' expectations on Tuesday, though revenue and same-store sales were better than expected.

Shares of the retailer fell in premarket trading following the announcement.

Here's how the company did compared with what Wall Street expected:

Earnings per share: $1.33 vs. $1.37 expected, according to Thomson Reuters.
Revenue: $136.27 billion vs. $134.93 billion expected, according to Thomson Reuters.
U.S. same-store sales: an increase of 2.6 percent vs. a 2.2 percent rise expected, according to Thomson Reuters.

Walmart set its fiscal 2019 earnings per share forecast at $4.75 to $5.00.

The Arkansas-based retailer has endured a number of changes to its structure, merchandise mix and leadership hierarchy of late, which are viewed as a way for Walmart to keep pace with Amazon and a shift of U.S. consumers toward online shopping.

For Walmart, news of starting wage increases and bonuses in January was abruptly followed news of Sam's Club store closures, which was followed by news of layoffs at its headquarters and cutbacks of store co-managers. The company is meanwhile remodeling its stores across the U.S. to focus more on grocery and online order fulfillment.

Walmart is also preparing to later this year roll out a revamped website, with a focus on fashion and home goods. The company will partner with Lord & Taylor to sell the Hudson's Bay-owned chain's merchandise on Walmart.com, as it continues to expand its offerings on Jet.com (which include Uniquely J, Modcloth and Bonobos).

As of Friday's market close, Walmart shares have risen about 51 percent from a year ago.

This is a developing story. Please check back for updates.

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