BENTONVILLE, Ark--(BUSINESS WIRE)--Walmart Inc. (NYSE: WMT):
First-quarter highlights:
- Total revenue was $138.3 billion, an increase of $3.7 billion, or 2.7%. Revenue was negatively affected by approximately $4.2 billion related to recent divestitures in Walmart International. Excluding currency, total revenue would have increased 2.1% to reach $137.4 billion.
- Walmart U.S. comp sales increased 6.0% with market share gains in grocery. Operating income increased 26.8%.
- Walmart U.S. eCommerce sales grew 37% with strong results across all channels, contributing approximately 360 basis points to comp sales. Sales more than doubled over the last two years.
- Sam’s Club comp sales increased 7.2%, and eCommerce sales grew 47%. Reduced tobacco sales negatively affected comp sales by approximately 340 basis points. Membership income increased 12.7%, and total member count reached an all-time high.
- Walmart International net sales were $27.3 billion, a decrease of $2.5 billion, or 8.3%, and eCommerce sales increased 49%. Net sales were negatively affected by $4.2 billion, or 14.1%, related to recent divestitures, and changes in currency exchange rates positively affected net sales by approximately $0.9 billion.
- Consolidated gross profit rate increased 104 basis points, led by strength in Walmart U.S., while consolidated operating expenses as a percentage of net sales was relatively flat.
- Consolidated operating income was $6.9 billion, an increase of 32.3%, with strength across the company. Recently divested businesses in the U.K. and Japan contributed operating income of $289 million, or $0.07 of EPS.
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Adjusted EPS excludes the effects, net of tax, of:
- net losses on equity investments of $0.57; and
- an incremental loss on the sale of our operations in the U.K. and Japan of $0.15
The company will hold a live conference call with the Investment Community at 7 a.m. CDT on Tuesday, May 18, 2021, to discuss the company’s first quarter earnings results for fiscal year 2022. The event will be webcast live and accessible by logging onto https://corporate.walmart.com/newsroom/financial-events and selecting the First Quarter Earnings Release event.
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, approximately 220 million customers and members visit approximately 10,500 stores and clubs under 48 banners in 24 countries and eCommerce websites. With fiscal year 2021 revenue of $559 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 corporate.walmart.com, on Facebook at facebook.com/walmart and on Twitter at twitter.com/walmart.
