...NEW YORK (Standard & Poor's) May 19, 2015--Standard & Poor's Ratings Services today noted Wal-Mart Stores Inc. reported first quarter fiscal 2016 results that were consistent with our expectations. Walmart U.S. reported a 1.1% increase in comparable store sales in the quarter ended April 30, 2015, compared to a negative 0.1% last year. While sales growth remains at the lower end of our estimates, Walmart U.S. continues to make some progress in growing customer traffic. We expect Walmart U.S. to maintain moderate low-single-digit same-store sales increases in fiscal 2016. E-commerce sales growth, globally, was robust at 17% as the company increased investment in this channel. Consolidated operating income declined 8.3% year over year, reflecting the negative impact from currency fluctuation, and higher expenses related to wage increases, hours scheduled, and to support e-commerce growth. We expect these expenses to continue to pressure earnings in fiscal 2016 as outlined by the company's...
