Walmart U.S. Q2 comp sales grew 2.8% and Walmart U.S. eCommerce sales grew 37%|
Thursday, August 15, 2019 7:01:00 AM ET
Company reports Q2 FY20 GAAP EPS of $1.26; Adjusted EPS of $1.27, led by strength at Walmart U.S., Walmart raises expectations for fiscal 2020 U.S. comp sales, operating income and EPS
BENTONVILLE, Ark.--(BUSINESS WIRE)--Walmart Inc. (NYSE: WMT):
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Walmart reports Q2 FY20 earnings
- Total revenue was $130.4 billion, an increase of $2.3 billion, or 1.8%. Excluding currency, total revenue was $131.7 billion, an increase of $3.7 billion, or 2.9%.
- Walmart U.S. comp sales increased on a two-year stacked basis by 7.3%, which is the strongest growth in more than 10 years. Segment operating income increased 4%, marking the fifth consecutive quarter of growth.
- Walmart U.S. eCommerce sales growth of 37% includes strong growth in online grocery.
- Samís Club comp sales increased 1.2%, and eCommerce sales grew 35%. Reduced tobacco sales negatively affected comp sales by 300 basis points.
- Net sales at Walmart International were $29.1 billion, a decrease of 1.1%. Excluding currency, net sales were $30.4 billion, an increase of 3.3%. Strength in Walmex and China were offset by softness in the U.K. and Canada.
- Operating income declined 2.9%, or 2.4% in constant currency, which was better than planned with strong results in the U.S. businesses. As expected, the inclusion of Flipkart this quarter negatively affected profit results.
- Adjusted EPS excludes an unrealized loss, net of tax, of $0.01 on the companyís equity investment in JD.com for the second quarter of FY20.
- FY20 adjusted EPS is now expected to range between a slight decrease and a slight increase compared with FY19 adjusted EPS.
- Walmart U.S. surpassed 1,100 grocery delivery locations and has more than 2,700 pickup locations.
- The companyís NextDay delivery service from Walmart.com now covers about 75% of the U.S. population.
Walmart Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere - in retail stores, online, and through their mobile devices. Each week, over 275 million customers and members visit our more than 11,300 stores under 58 banners in 27 countries and eCommerce websites. With fiscal year 2019 revenue of $514.4 billion, Walmart employs over 2.2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting http://corporate.walmart.com , on Facebook at http://facebook.com/walmart and on Twitter at http://twitter.com/walmart .
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Source: Walmart Inc.