Corporate Store News Operations Southwest

Walmart’s Comps For Fiscal 2020 2Q Up 2.8 Percent

Walmart second quarter results FY20

Walmart saw its U.S. comparable store sales grow 2.8 percent in the fiscal 2020 second quarter ended July 26.

Walmart’s U.S. e-commerce sales grew 37 percent, while Sam’s Club’s rose 35 percent in the 13-week period vs. the 13-week period ended July 27, 2018 (excluding fuel).

Walmart’sWalmart Earnings Charttotal revenue was $130.4 billion, an increase of $2.3 billion, or 1.8 percent.

Doug McMillon, president and CEO of Walmart, said, “From a performance point of view, we’re pleased with the strength we see in the business. Customers are responding to the improvements we’re making, the productivity loop is working, and we’re gaining market share. We’re on track to exceed our original earnings expectations for the year, and that’s possible because of the work our associates do every day.”

Sam’s Club comp sales increased 1.2 percent in the second quarter of 2020.

Walmart’s U.S. comp sales increased on a two-year stacked basis by 7.3 percent, which is the strongest growth in more than 10 years, the Bentonville, Arkansas-based retailer said. Segment operating income increased 4 percent, marking the fifth consecutive quarter of growth.

Walmart U.S. surpassed 1,100 grocery delivery locations and has more than 2,700 pickup locations.The company’s NextDay delivery service from Walmart.com now covers about 75 percent of the U.S. population.

Also during the second quarter:

  • Suresh Kumar was appointed new chief technology officer and chief development officer.
  • The company announced Walmart InHome Delivery for consumers to order online and have their orders delivered directly into their homes.
  • A new wireless experience online and in stores was implemented to make it easier for customers to upgrade their mobile devices.
  • The new Sam’s Garage app launched nationwide at Sam’s Club.
  • Same-day pickup nationwide is now available at Sam’s Club.
  • A total of 14 tech degrees and certificates were added to Live Better U college offering.
  • Debt-free college was expanded to high schoolers and graduation bonuses were created.
  • A new collaboration with other major companies was launched as part of the FDA’s program to evaluate the use of blockchain to protect pharmaceutical product integrity.
  • Walmart and U.S. Solar agreement for 36 community solar gardens was revealed.
  • More than 120 car charging stations were completed at Walmart stores nationwide, with plans for expansion announced by Electrify America and Walmart.
  • Walmart Transportation receives 2019 Smartway Excellence Award from EPA for environmental performance and leadership.

 

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Erica Sacra

Outside of her web editing duties, Erica enjoys watching movies and spending time with friends and family. She loves trivia and Kentucky Wildcats basketball.

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