Walmart is growing again
The trend of online sales continued in Q3 with sales in the USA increasing by 79%.
The CEO of Walmart Doug McMilon said: "This was another good quarter. We believe this new customer behaviour will continue and we are well positioned to serve customers with the value and experience they are looking for".
Walmart International's net revenue was $29.6 billion, an increase of 1.3%. The Flipkart, Canada and Walmex segments had a positive impact on net sales of approximately $1.1 billion. A record number of monthly active customers contributed to the strong growth in net sales at Flipkart.
In the area of self-export and delivery of Walmart products, record sales volumes were recorded. At the end of the quarter, Walmart offered an online product pick-up service in 3,600 locations and delivery on the same day in approximately 2,900 shops. Walmart operates more than 4,700 shops in the USA.
Comparable U.S. sales rose 6.4 percent over the quarter, while comparable traffic fell 14.2 percent, offset by a 24 percent increase in comparable average checks. A similar trend can be seen in the Russian market, where consumers are buying with stock. Therefore, a decrease in traffic has no negative impact on the company's results.
Indicators for 3Q
The company's revenue increased by 5.2% to USD 134.7 billion and sales increased by 5.3% to USD 133.8 billion. Profit increased to 1.8 dollars per share (EPS). As a result of the third quarter, the company managed to increase net profit by 56.2 per cent.
