Walmart Reported 3rd Quarter Financial Results | Financial Buzz

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.