BENTONVILLE, AR - The mass retailer is up again, reporting strong revenue growth of 4.8 percent. Walmart's operating income is growing faster at 8.5 percent, and adjusted income is up 7.2 percent.
"Our team delivered another strong quarter. They work hard every day to help our customers and members save time and money. Each part of our business is growing—store and club sales are up, e-commerce is compounding as we layer on pickup, and even faster growth in delivery as our speed improves. Our newer businesses like marketplace, advertising, and membership, are also contributing, diversifying our profits, and reinforcing the resilience of our business model,” said Doug McMillon, President and Chief Executive Officer.
Walmart shared its second quarter highlights along with a bit of board news, as Bob Moritz, retired Chair of PwC, is set to join Walmart’s Board of Directors.
As goods continue flying off the shelves and warehouses of Walmart, global inventory went down 2 percent, including a decrease of 2.6 percent for Walmart U.S. A press release confirmed in-stock levels are healthy.
Here a breakdown of more Q2 highlights:
- Consolidated revenue of $169.3 billion, up 4.8 percent or 5 percent
- Global e-commerce sales grew 21 percent, led by store-fulfilled pickup and delivery, and marketplace
- Global advertising business grew 26 percent, including 30 percent for Walmart Connect in the U.S
- Adjusted EPS of $0.67 excludes the effect, net of tax, from a net loss of $0.11 on equity and other investments
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