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.
Walmart reported strong Q3 earnings on Thursday this week, reporting substantial growth in its e-commerce segment.
Key Highlights from earnings as per Bloomberg consensus data:
- $127.99 billion of revenue reported beating expectations at $128.67 billion.
- Adjusted EPS of $1.16 was reported, ahead of estimates at $1.09.
- Walmart’s U.S. e-commerce sales increased by 41%.
- Walmart’s U.S. comp-store sales (excluding gas) rose by 3.2% vs. 3.1% expected.
- The retail giant raised its adjusted earnings per share guidance for fiscal 2020, compared to a year ago.
“We continue to see good traffic in our stores. We’re growing market share in key food and consumables categories, including fresh, and we had positive comps in general merchandise,” stated CEO Doug McMillon in the management commentary.
With more than 3,000 locations for grocery pick-up and more than 1,400 locations for delivery Walmart remains confident and expects to offer same-day free grocery pick-up from more than 3,100 stores by the year-end and same-day grocery delivery at more than 1,600 stores. The above services to assist Walmart to grow its e-commerce business by serving customers in the most convenient and hassle-free manner.
“We’re making progress on many fronts, but we need to do more and move faster, especially with our assortment including the marketplace. I continue to challenge the team to drive a deeper, more sustainable relationship with the customer, better execute the fundamentals and improve the overall economics of the business. Our strength is being driven by food, which is good, but we need even more progress on Walmart.com with general merchandise,” McMillon added.
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