Walmart Reported 3rd Quarter Financial Results

Walmart, Inc. (NYSE: WMT) reported financial results for the third quarter.  Total revenue was $124.9 billion, an increase of $1.7 billion, or 1.4%. Excluding currency2, total revenue was $126.1 billion, an increase of $2.9 billion, or 2.4%.  Walmart U.S. comp sales1 increased 3.4% in the period and 6.1% on a two-year stack with broad-based strength and market share gains in key categories, according to Nielsen and The NPD Group.

Walmart U.S. omnichannel progress continues as grocery pickup is now available in nearly 2,100 locations and grocery delivery is available in nearly 600 locations.  Sam’s Club comp sales1 increased 3.2%3, and eCommerce sales grew 32%. Membership trends continue to improve.

Net sales at Walmart International were $28.8 billion, a decline of 2.6%. Excluding currency2, net sales were $30.0 billion, an increase of 1.6%. Comp sales were positive in nine of 10 markets.

“We have momentum in the business as we execute our plan and benefit from a favorable economic environment in the U.S.  We’re accelerating innovation and utilizing technology to shape the future of retail.  We’re making shopping at Walmart faster and easier.  Our associates are equipped with the tools to serve customers better than ever before, and they’re doing a great job.  With the holidays approaching, customers can count on Walmart to sve them money, and we’ll also provide busy families with another important gift — time back in their day,” Doug McMillon, President and CEO of Walmart said.

3 Comments
  1. Gary Kreps 11 months ago
    Reply

    On the failure of $WMT to move higher on the back of what every analyst seems to be arguing are great numbers, it trades at 20 times forward earnings-NOT CHEAP- by any standard for a mainline retailer. Also paid 5%of mkt cap for Flipkart which looses big bucks at the gross margin

  2. Keith Gerald 11 months ago
    Reply

    Incidentally, I still prefer $AMZN to $WMT because it’s a stronger horse and one that is much better capitalized. But this economy may give Wal-Mart a shot in the arm short-term.

    • John Liu 11 months ago
      Reply

      Walmart is starting Black Friday on Wednesday. If you can find a company doing better than inventing two more Extreme Shopping Days (post-Thanksgiving) LMK. This fishy stock action is why the NSA tracks sellers.

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