Walmart’s U.S. e-commerce sales grew 37 percent, according to its first quarter 2019 financial results released May 16.
Other highlights of Walmart’s first quarter financial report:
• Total revenue was $123.9 billion, an increase of $1.2 billion. Excluding currency, total revenue was $125.8 billion, an increase of $3.1 billion or 2.5 percent.
• Walmart U.S. comp sales of 3.4 percent marks the best Q1 comp in nine years and is the fourth consecutive quarter above 3 percent. Operating income was better than expected, up 5.5 percent.
• Walmart U.S. e-commerce sales growth of 37 percent reflects strong growth in online grocery, as well as the Home and Fashion categories on Walmart.com.
• Sam’s Club comp sales increased 0.3 percent, and e-commerce sales grew about percent. Reduced tobacco sales negatively affected comp sales by 270 basis points.
• Net sales at Walmart International were $28.8 billion, a decline of 4.9 percent. Excluding currency, net sales were $30.6 billion, an increase of 1.2 percent.
• Operating income declined 4.1 percent, or 3.0 percent in constant currency, which was better than planned as strong results from Walmart U.S. and Sam’s Club were offset by the inclusion of Flipkart this year.
• Adjusted EPS excludes an unrealized gain, net of tax, of $0.20 on the company’s equity investment in JD.com.
“We’re changing to enable more innovation, speed and productivity, and we’re seeing it in our results,” said Doug McMillon, president and CEO of Walmart. “We’re especially pleased with the combination of comparable sales growth from stores and e-commerce in the U.S. Our team is demonstrating an ability to serve customers today while building new capabilities for the future, and I want to thank our associates for a strong start to the year.”
Each week, more than 275 million customers and members visit Walmart’s more than 11,300 stores under 58 banners in 27 countries and e-commerce websites. With fiscal year 2019 revenue of $514.4 billion, Walmart employs more than 2.2 million associates worldwide.