BENTONVILLE, AR - Strategic gains are being achieved in the grocery space, with key signs of growth coming from Walmart. As it unveils its retail performance for the third quarter of the fiscal year 2023, the grocer is announcing strength across multiple segments and raising its full-year outlook to reflect these positive results.
“We had a good quarter with strong top-line growth globally led by Walmart and Sam’s Club U.S., along with Flipkart and Walmex,” said Doug McMillon, President and Chief Executive Officer. “Walmart U.S. continued to gain market share in grocery, helped by unit growth in our food business. We significantly improved our inventory position in Q3, and we’ll continue to make progress as we end the year. From The Big Billion Days in India through our Deals for Days events in the U.S. and a Thanksgiving meal that will cost the same as last year, we’re here to help make this an affordable and special time for families around the world. We have an amazing group of associates that make all this happen, and I want to say thank you.”
As the grocer’s revenue reached $152.8 billion, up 8.7 percent, Walmart reported strong gains in grocery market share.
Some of the other key highlights that Walmart revealed in the release include:
- Walmart U.S. comp sales grew 8.2 percent and 17.4 percent on a two-year stack
- Sam’s Club comp sales increased 10 percent and 23.9 percent on a two-year stack
- Walmart International sales were $25.3 billion, an increase of $1.7 billion
- Global advertising business grew over 30 percent, led by 40 percent at Walmart Connect in the U.S. and strength in Flipkart ads
Click here to read the financial report in its entirety.
Stay tuned to AndNowUKnow as we keep a tab on ongoing retail growth.
