Walmart expects $2 billion non-cash loss from stake sale in Japan’s Seiyu

FILE PHOTO: The outbreak of the coronavirus disease (COVID-19) in Rosemead
FILE PHOTO: The logo of a Walmart Superstore is seen during the outbreak of the coronavirus disease (COVID-19), in Rosemead, California, U.S., June 11, 2020. Picture taken June 11, 2020. REUTERS/Mario Anzuoni/File Photo

November 16, 2020

(Reuters) – Walmart Inc <WMT.N> said on Monday it sees a non-cash loss of about $2 billion after tax, in its fourth fiscal quarter due to a sale of a majority stake in Japanese supermarket chain Seiyu.

The retailer also said it does not expect a significant impact to earnings per share following the close of the sale to investment firm KKR <KKR.N> and e-commerce company Rakuten <4755.T>. (https://bit.ly/2IEBFzN)

The deal was first announced late Sunday, Eastern time.

(Reporting by Uday Sampath in Bengaluru; Editing by Shinjini Ganguli)