Walmart Inc’s. (WMT) second-quarter earnings ride high on e-commerce sales reporting a jump by 97%, as customers preferred getting their packages shipped to their home amid the pandemic. Walmart expressed plans to build on the E-commerce gains by adding membership services that would speed up deliveries and strengthen its customer’s confidence in the brand. It also plans to launch Walmart+, competing with Amazon Prime.
Highlights for quarter ending July 31:
- U.S. same-store sales climbed 9.3% for the quarter.
- Adjusted EPS of $1.56 was reported versus an expectation of $1.25.
- The quarter generated a revenue of $137.74 billion versus $135.48 billion expected.
- Walmart’s net income rose to $6.48 billion, or $2.27 per share, from $3.61 billion, or $1.26 per share, a year earlier.
- The company did not provide a financial outlook for the rest of the year.
Walmart’s CEO Doug McMillon informed about the supply chain challenges but assured improvement in the future.
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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