Walmart Reports Strong Black Friday And Cyber Monday Performance

(RTTNews) - Walmart Inc. (WMT), on Tuesday announced that it reported strong Black Friday and Cyber Monday performance, driven by faster deliveries, high-demand holiday products and increased use of its app and AI-powered shopping tools.

Cyber Monday deals have been extended through December 7, and Walmart will continue offering exclusive discounts on last-minute holiday gifts with same-day pickup and delivery options throughout December.

Walmart said that its same-day delivery network, supported by 4,600 stores and covering 95% of the U.S. population, enabled customers to receive Black Friday orders within hours.

Walmart delivered 57% more orders from stores year over year, with 44% more orders arriving in under three hours.

The fastest delivery, a Shark Steam & Scrub Mop, reached a customer in West Valley City, Utah, in 10 minutes.

Walmart Marketplace achieved a single-day conversion record, with PlayStation 5 consoles and Labubus among the leading sellers.

The company said that nearly 10 million shoppers used the Walmart app in stores during the weekend to check availability, compare prices and navigate aisles.

Customers who use the app while shopping typically spend 25% more per trip, according to Walmart.

In the pre-market trading, Walmart is 0.23% lesser at $111.45 on the New York Stock Exchange.