Walmart, Inc. (NYSE: WMT) reported second quarter financial results. For the second quarter, total revenue amounted to USD 137.7 Billion, a USD 7.4 Billion rise or 5.6% increase. Comp sales for the company rose 9.3% due to strength in general merchandise and food. Ecommerce sales in the United States increased 97% due to strong results in all channels. International net sales fell 6.8% to USD 27.2 Billion. Consolidated operating expenses as a percentage of net sales increased 42 basis points, primarily as a result of incremental expenses related to COVID-19. The rise in ecommerce sales comes as no surprise as the impact of the coronavirus pandemic has urged consumers to remain in their homes. Operating income reached USD 6.1 Billion, a 8.5% increase led by strength in all operating segments and lower losses in Walmart U.S. ecommerce.
“I want to give a big thank you to our associates for their tireless efforts during these unprecedented times. We also appreciate the trust and confidence of our customers. We remain focused on serving them well now and expanding our set of global capabilities to serve them well in the future.” Doug McMillon President and CEO, Walmart