Walmart has once again demonstrated a robust performance in sales, surpassing expectations with its affordable prices attracting a large number of customers facing difficulties due to increasing costs in various aspects of life. The retail giant has revised its full-year forecast following a strong quarter.
During the quarter ending on July 31, Walmart Inc. reported earnings of $4.5 billion, equivalent to 56 cents per share. This indicates a decrease from the $7.9 billion, or 97 cents per share, reported during the same period the previous year. Adjusted earnings per share stood at 67 cents, exceeding Wall Street estimates by 2 cents, according to FactSet. Total sales increased by almost 4.8% to reach $169.33 billion, surpassing predictions.
In the U.S., comparable store sales, which encompass both online and physical stores open for the past year, rose by 4.2%, an improvement from the 3.8% reported in the first quarter and 4% in the fourth quarter. Furthermore, global e-commerce sales saw a 21% increase, maintaining the same growth rate as in the first quarter.