Walmart expects $2 billion non-cash loss from stake sale in Japan's Seiyu
11/16/2020 | 07:56am EST
(Reuters) - Walmart Inc 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 and e-commerce company Rakuten. (https://bit.ly/2IEBFzN)
The deal was first announced late Sunday, Eastern time.
(Reporting by Uday Sampath in Bengaluru; Editing by Shinjini Ganguli)
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