BENTONVILLE, Ark.--(BUSINESS WIRE)--Walmart Inc. (NYSE: WMT):
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.
