Reportedly, the world’s largest retailer Walmart Stores, Inc. (WMT) exceeded Wall Street’s Q2 revenue and sales estimates driven by store traffic and high grocery sales. The retailer reported an adjusted EPS of $1.78 versus $1.57 expected. Revenue stood at $141 billion versus $136.88 billion expected. Walmart U.S. comp-store sales (excluding gas) was 5.2% versus 3.12% estimate and U.S. e-commerce sales stood at 6%.
Online sales grew at a slower pace during the second quarter compared to the first quarter, climbing 6%. On a two-year stack, e-commerce sales were up 103%. In a statement, CEO Doug McMillon pointed out that global e-commerce sales are “on track to reach $75 billion by the end of the year.”
Health and wellness comps increased by mid-double-digits, with Vision Centers open, vaccines, and branded drug inflation, but general merchandise category grew in the low single-digits, “lapping last year’s stimulus-driven growth.” The retailer raised its full-year guidance, forecasting U.S. comp sales growth of 5% to 6%, also ahead of analysts’ expectations of 3.22%.
Walmart Stores, Inc. (WMT) is a worldwide retailer that operates in various formats. The three segments of the company include Walmart U.S., Walmart International, and Sam’s Club. The company is comprised of discount stores, supermarkets, supercenters, hypermarkets, warehouse clubs, cash and carry stores, home improvement stores, specialty electronics stores, apparel stores, drug stores, convenience stores, and membership-only warehouse clubs; and retail Websites. To learn more about Walmart (WMT) and to continue to track its progress please visit the Vista Partners Walmart Coverage Page.
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