Walmart Says Revenue Growth In First Three Months

Many retailers will publish their financial statements this week. Yesterday, 18 May, Walmart, the world's largest retail chain, reported.

In the first quarter 2022 fiscal year total revenue of Walmart (NYSE: WMT) increased by 2,7% - to 138,3 billion dollars. The company lost 4,2 billion in revenue after the sale of part of its international business. Adjusted earnings per share increased by 43%.

“It was a strong quarter. Each segment performed well. Our expectations are higher now, than at the beginning of the year. We are in a strong position, and e-commerce continues to grow. US stimulus measures have had an impact, therefore, the uncertainty in the second half of the year will be higher, than in a normal year. We expect pent-up demand to continue in 2021 year", Walmart CEO Doug McMillon said.

Sales increased in the US 5% by increasing the market share of grocery products. The number of transactions fell by 3,2%, but the average check grew by 9,5%. Online sales in the first quarter grew by 37%, and more than doubled in the last two years.

International sales fell by 8,3%. The fall is related to, that Walmart recently sold the British supermarket chain Asda and the Japanese Seiyu. Internet sales in the international segment added 49%.

In the Sam's Club segment, sales increased by 10,1%: negatively affected by falling tobacco sales. Sam's Club is an American network of club-type wholesale and retail warehouses., one of Costco Wholesale's competitors.

Walmart raised its forecast for total sales and net earnings per share by 2022 fiscal year.

Segment sales for the first quarter, billion dollars

USA 2021 88,7 2022 93,2 The change 5,0% Other countries 2021 29,8 2022 27,3 Change -8.3% Sam’s Club 2021 15,2 2022 16,7 The change 10,1%

Operating profit by segments for the first quarter, billion dollars

USA 2021 4,3 2022 5,5 The change 26,8% Other countries 2021 0,8 2022 1,2 The change 48,1% Sam’s Club 2021 0,5 2022 0,6 The change 16,4%