Walmart U.S. grew comp sales 6.5%, including mid-teens in food, and eCommerce up 12%
Q2 FY23 GAAP EPS of
Company maintains outlook for back-half of FY23
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- Company delivered strong top-line growth globally, partially driven by inflation. Total revenue was
$152.9 billion, up 8.4%, or 9.1% in constant currency. Walmart U.S. comp sales grew 6.5% and 11.7% on a two-year stack. eCommerce growth was 12% and 18% on a two-year stack. Continued to gain market share in grocery.
- Sam's Club comp sales increased 9.5%, and 17.2% on a two-year stack. Membership income increased 8.9% with member count at an all-time high.
Walmart Internationalnet sales were $24.4 billion, an increase of $1.3 billion, or 5.7%, negatively affected by $1.0 billionfrom currency fluctuations. Double-digit comps in three largest markets of Mexico, Canada, and China.
- Global advertising business grew nearly 30%, led by
WalmartConnect in the U.S.and Flipkartadvertising.
- Consolidated gross profit rate declined 132 basis points, primarily due to markdowns and mix of sales in the
U.S., and an inflation-related LIFO charge at Sam's Club.
- Consolidated operating expenses as a percentage of net sales decreased 45 basis points, primarily due to strong sales growth partially offset by wage investments.
- Consolidated operating income was
$6.9 billion, a decrease of 6.8%, positively affected by $173 millionfrom an insurance settlement for Walmart Chile.
- GAAP and Adjusted EPS include a
$0.05impact from the Walmart Chileinsurance settlement discussed above, as well as a $0.05impact from a dividend related to the Company's equity investment in JD.com.
The company will hold a live conference call with the Investment Community at
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