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Walmart Releases First Quarter Earnings, Exceeds Expectations

Last updated on May 23rd, 2016 at 09:52 am

Highlights from Wal-Mart Stores Inc.’s first quarter earnings call, held May 19, are:

  • Total revenue was $115.9 billion. On a constant currency basis, total revenue was $119.4 billion, an increase of 4.0 percent.
  • Walmart U.S. delivered positive comp sales for the seventh consecutive quarter, up 1.0 percent, driven by the sixth consecutive quarter of positive traffic, up 1.5 percent. Neighborhood Market comp sales increased approximately 7.1 percent. Customer experience scores continued to improve.
  • Net sales at Walmart International reached $28.1 billion. Excluding currency, net sales were $31.6 billion, an increase of 4.3 percent, and operating income increased 22 percent.
  • Globally, on a constant currency basis, e-commerce sales and GMV increased 7.0 percent and 7.5 percent, respectively.
  • Operating cash flow was $6.2 billion, and free cash flow was $4.0 billion, both higher than last year due to solid operating performance and improved working capital management.
  • Consolidated operating income declined 7.1 percent, as planned investments in people and technology, as well as currency exchange rate fluctuations impacted results. Excluding currency, operating income decreased by 4.6 percent.

Each week, nearly 260 million customers and members visit Walmart’s 11,527 stores under 63 banners in 28 countries and e-commerce websites in 11 countries, reports the company. With fiscal year 2016 revenue of $482.1 billion, Walmart employs approximately 2.3 million associates worldwide.

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