Walmart U.S. Q3 comp sales grew 6.4% and Walmart U.S. eCommerce sales grew 79%
November 17 2020 - 7:01AM
Business Wire
Q3 FY21 GAAP EPS of $1.80; Adjusted EPS of
$1.34
Company incurs incremental costs related to
COVID-19 of $0.6 billion
Walmart Inc. (NYSE: WMT):
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Third-quarter highlights
- The company’s net sales and operating results continue to be
affected by the global health crisis. Increased demand for products
across multiple categories led to strong top-line and gross margin
results.
- Total revenue was $134.7 billion, an increase of $6.7 billion,
or 5.2%. Excluding currency, total revenue would have increased
6.1% to reach $135.8 billion.
- Walmart U.S. comp sales increased 6.4% with strength across key
categories, including general merchandise, health & wellness
and food.
- Walmart U.S. eCommerce sales grew 79% with strong results
across all channels and contributed approximately 570 basis points
to comp sales.
- Sam’s Club comp sales increased 11.1%. eCommerce sales grew
41%. Reduced tobacco sales negatively affected comp sales by
approximately 420 basis points. New member sign-ups and renewal
rates were strong, particularly Plus membership. Membership income
increased 10.4%.
- Walmart International net sales were $29.6 billion, an increase
of 1.3%. Changes in currency rates negatively affected net sales by
approximately $1.1 billion. Excluding currency, net sales would
have been $30.6 billion, an increase of 5.0% led by Flipkart,
Canada and Walmex. Strong growth in net sales at Flipkart was
helped by a record number of monthly active customers.
- Consolidated gross profit rate increased 50 basis points with
positive contributions from each operating segment.
- Consolidated operating expenses as a percentage of net sales
decreased 18 basis points. Incremental expenses related to COVID-19
were approximately $0.6 billion, partially offset by a non-cash
impairment charge in the third quarter of last year. Underlying
productivity in stores and eCommerce remained strong.
- Consolidated operating income was $5.8 billion, an increase of
22.5%. Adjusted operating income in constant currency increased
16.4% with strong contributions from each operating segment.
- Adjusted EPS excludes the effects, net of tax, of an unrealized
gain of $0.80 on equity investments and $0.34 for the loss on sale
of Walmart Argentina.
- Operating cash flow year to date has been strong and increased
approximately $8.3 billion versus last year to almost $23
billion.
About Walmart
Walmart Inc. (NYSE: WMT) helps people around the world save
money and live better - anytime and anywhere - in retail stores,
online, and through their mobile devices. Each week, over 265
million customers and members visit approximately 11,400 stores
under 55 banners in 26 countries and eCommerce websites. With
fiscal year 2020 revenue of $524 billion, Walmart employs over 2.2
million associates worldwide. Walmart continues to be a leader in
sustainability, corporate philanthropy and employment opportunity.
Additional information about Walmart can be found by visiting
http://corporate.walmart.com, on Facebook at
http://facebook.com/walmart and on Twitter at
http://twitter.com/walmart.
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