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Walmart Reports Positive 3Q Comps, E-Commerce Sales Up 50 Percent

Walmart veteran associates

In its third-quarter results, Walmart is reporting that its total revenue was $123.2 billion, an increase of $5.0 billion, or 4.2 percent. Excluding currency, total revenue was $122.7 billion, an increase of $4.5 billion, or 3.8 percent.

Walmart U.S. comp sales increased 2.7 percent, and comp traffic increased 1.5 percent.

E-commerce growth at Walmart U.S. remained strong, says the company, led by growth through Net sales and GMV increased 50 percent and 54 percent, respectively.

Net sales at Walmart International were $29.5 billion, an increase of 4.1 percent. Excluding currency, net sales were $29.1 billion, an increase of 2.5 percent. Ten of 11 markets posted positive comp sales, including Walmart’s four largest markets.

“We are pleased with the strong results in the quarter across each of our business segments, and I want to thank our associates for their commitment and great work to make it happen. We have momentum, and it’s encouraging to see customers responding to our store and e-commerce initiatives. We are leveraging our unique assets to save customers time and money and serve them in ways that are fast, friendly and fun,” said Doug McMillon, Walmart president and CEO.

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Walmart also reports 3Q GAAP EPS of $0.58 and adjusted EPS of $1.00. The company now expects full-year GAAP EPS of $3.84 to $3.92 and adjusted full-year EPS of $4.38 to $4.46

The company’s third-quarter GAAP EPS was adjusted for three items. A charge of $0.29 for loss on extinguishment of debt in connection with its recently completed debt tender offer, a charge of $0.09 based on discussions with government agencies regarding the possible resolution of the FCPA matter, and a charge of $0.04 based on the decision to exit certain properties in one of the company’s international markets.

Keep reading:

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