Last updated on August 20th, 2018 at 01:07 pm
Walmart U.S.’s second-quarter earnings report released Aug. 16 beat expectations as the retail giant’s comp sales increased 4.5 percent, the strongest growth in more than ten years led by the performance of grocery, apparel and seasonal. Strong comp sales were supported by traffic and ticket growth, with each exceeding 2 percent.
Total revenue was $128.0 billion, an increase of $4.7 billion, or 3.8 percent. Excluding currency, total revenue was $127.8 billion, an increase of $4.4 billion, or 3.6 percent.
Walmart U.S. omni-channel saw significant progress with an expanded online assortment, including 1,100 new brands. Grocery pickup is now in more than 1,800 locations, and the company is on track to reach about 40 percent of the U.S. population by year-end with grocery delivery.
“Thanks to the hard work of our associates, we had a great quarter with strong results and momentum across the business. We’re pleased with how customers are responding to the way we’re leveraging stores and e-commerce to make shipping faster and more convenient,” said Doug McMillon, Walmart president and CEO. “We’re continuing to aggressively roll out grocery pickup and delivery in the U.S., and we recently announced expanded omni-channel initiatives in China and Mexico. Customers have choices and we’re making it easier than ever for them to choose Walmart.”
Sam’s Club comp sales increased 5 percent, the strongest growth in six years.
Net sales at Walmart International were $29.5 billion, an increase of 4 percent. Excluding currency, net sales were $29.2 billion, an increase of 3.1 percent. Comp sales were positive in the four largest markets.
Key results
(Amounts in billions, except as noted. Dollar and percentage changes may not recalculate due to rounding.)
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