BENTONVILLE, AR - Consumers are always on the lookout for deals and value. With the demand for quality and service maintaining their positions as high focal points, Walmart revealed it is coming out on top. The retailer released its Q2 results for its fiscal year 2023, revealing an 8.4 percent revenue increase of $11.8 billion.
“We’re pleased to see more customers choosing Walmart during this inflationary period, and we’re working hard to support them as they prioritize their spending. The actions we’ve taken to improve inventory levels in the U.S., along with a heavier mix of sales in grocery, put pressure on profit margin for Q2 and our outlook for the year,” Doug McMillon President and Chief Executive Officer. “We made good progress throughout the quarter operationally to improve costs in our supply chain, and that work is ongoing. We continue to build on our strategy to expand our digital businesses, including the continued strength we see in our international markets.”
In the report, the company noted it delivered top-line growth globally, partially driven by inflation. For its Q2 FY23, Walmart saw $152.9 billion in revenue, up 8.4 percent from $141.0 in Q2 FY22, or 9.1 percent in constant currency.
Sam’s Club comp sales increased 9.5 percent, and membership income increased 8.9 percent with member count at an all-time high.
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