After 51 years in print, Institutional Investor will scrap its paper edition and go digital-only after its April issue, the financial magazine announced this week. The decision comes as the result of “sustained and substantial growth in online reader traffic,” and increased demand among advertisers for digital marketing solutions, according to a statement. “Asset managers and allocators have an increased desire to consume content and market digitally, given the ease of access, efficient targeting, and generational change in the industry,” said Institutional Investor CEO Diane Alfano in the statement. “It’s exciting to watch the evolution of our business and the shift from print to community.” Click Read More below for additional information.
Total revenue was $123.9 billion, an increase of $1.2 billion, or 1.0%. Excluding currency, total revenue was $125.8 billion, an increase of $3.1 billion, or 2.5%.
Walmart U.S. comp sales of 3.4% marks the best Q1 comp in 9 years and is the fourth consecutive quarter above 3%. Operating income was better than expected, up 5.5%.
Walmart U.S. eCommerce sales growth of 37% reflects strong growth in online grocery, as well as the Home and Fashion categories on Walmart.com.
Net sales at Walmart International were $28.8 billion, a decline of 4.9%. Excluding currency, net sales were $30.6 billion, an increase of 1.2%.
Operating income declined 4.1%, or 3.0% in constant currency, which was better than planned as strong results from Walmart U.S. and Sam’s Club were offset by the inclusion of Flipkart this year.