News on February 18, Beijing time$Walmart Inc (WMT.US) $The company on Tuesday expected online sales growth to slow this year after the company reported weak results in the holiday season, suggesting that its sales were on the way.$Amazon.Com Inc (AMZN.US) $.

Holiday sales at the brick-and-mortar retailer were disappointing as most shoppers turned to online shopping in 2019, prompting Amazon.Com Inc to record sales.

Sales at Walmart Inc's stores in the US for at least a year rose 1.9 per cent (excluding fuel) in the fourth quarter to January 31, well below the 2.35 per cent average analyst forecast. The quarter's results were affected by the short holiday season and falling demand for clothing, toys and electronics.

Jesse Cohen, a senior analyst at Investing.com, a financial markets platform, said: "the shockingly poor performance of Walmart Inc's crucial holiday shopping season shows that some of the company's recent investments to support its e-commerce business have not been realized. Walmart Inc has been spending a lot of money to develop his online business and enhance the digital capability of his store.

The company said it expected online sales to grow by about 30 per cent in fiscal 2021, down from 37 per cent last year. The company expects full-year profit of $5.00 to $5.15 a share, below its forecast of $5.22. "Walmart Inc's weak forecast for 2021 shows that more dark clouds are coming," Cohen said. "

Adjusted earnings per share rose to $1.38, but below the average forecast of $1.43 a share. Total revenue rose 2.1% to $141.67 billion, below expectations of $142.49 billion.

Walmart Inc's share price rose 27 per cent in 2019 and fell 1 per cent before trading on Tuesday.