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Walmart Q3 revenues rise on strong sales

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U.S. comparable sales increased 3.2%

Walmart Q3 revenues rise on strong sales
BENTONVILLE, Ark. — Walmart on Thursday said its third-quarter revenue rose 2.5% to $128 billion on strong sales at its U.S. stores and websites. U.S. comparable sales increased 3.2%, extending a four-year streak of quarterly gains.

U.S. e-commerce sales increased 41%, driven by gains in Walmart’s grocery business, which is gaining competitiveness thanks to the ongoing rollout of delivery and pick-up services. The company has also introduced an unlimited grocery delivery membership program at some of its U.S. locations.

Sam’s Club comparable-store sales increased 0.6% in the 13-week period to October 25. International sales rose 1.3%. Seven of 10 international regions notched higher comps, with gains again led by China and Mexico.

Overall, transactions increased 1.3% in the quarter and the average basket was 1.9% higher.

Operating income declined 5.4% to $4.7 billion, in part due to a non-cash impairment charge for Walmart International. The inclusion of Flipkart also negatively impacted operating income.

“We’re making progress on many fronts, but we need to do more and move faster, especially with our assortment including marketplace,” CEO Doug McMillon said in a statement. “Our strength is being driven by food, which is good, but we need even more progress on Walmart.com with general merchandise. We’re mixing the business out better to achieve better margin rates, but there is more work to do. We’re committed to progress and building a larger, healthier e-commerce business. Our customers want that, our marketplace sellers want that, and so do we.”

Walmart used Thursday’s earnings release to highlight some third-quarter accomplishments, including:

  • The launch of Delivery Unlimited, a grocery delivery membership option to 1,400 U.S. stores.
  • The introduction of InHome Delivery service in Kansas City, Pittsburgh and Vero Beach enabling members to come home to a fully stocked fridge.
  • The opening of the first Walmart Health center in Dallas, Ga.

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