Walmart U.S. grew comp sales 6.5%, including mid-teens in food, and eCommerce up 12%

Walmart Inc. (NYSE: WMT):

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Second-quarter highlights:

• Company delivered strong top-line growth globally, partially driven by inflation. Total revenue was $152.9 billion, up 8.4%, or 9.1% in constant currency.
• Walmart U.S. comp sales grew 6.5% and 11.7% on a two-year stack. eCommerce growth was 12% and 18% on a two-year stack. Continued to gain market share in grocery.
• Sam’s Club comp sales increased 9.5%, and 17.2% on a two-year stack. Membership income increased 8.9% with member count at an all-time high.
• Walmart International net sales were $24.4 billion, an increase of $1.3 billion, or 5.7%, negatively affected by $1.0 billion from currency fluctuations. Double-digit comps in three largest markets of Mexico, Canada, and China.
• Global advertising business grew nearly 30%, led by Walmart Connect in the U.S. and Flipkart advertising.
• Consolidated gross profit rate declined 132 basis points, primarily due to markdowns and mix of sales in the U.S., and an inflation-related LIFO charge at Sam’s Club.
• Consolidated operating expenses as a percentage of net sales decreased 45 basis points, primarily due to strong sales growth partially offset by wage investments.
• Consolidated operating income was $6.9 billion, a decrease of 6.8%, positively affected by $173 million from an insurance settlement for Walmart Chile.
• GAAP and Adjusted EPS include a $0.05 impact from the Walmart Chile insurance settlement discussed above, as well as a $0.05 impact from a dividend related to the Company’s equity investment in JD.com.

The company will hold a live conference call with the Investment Community at 7 a.m. CDT Tuesday, Aug. 16, 2022, to discuss the company’s second quarter earnings results for fiscal year 2023. The event will be webcast live and is accessible by visiting https://corporate.walmart.com/newsroom/financial-events and selecting the Second Quarter Earnings Release event. The webcast will be archived and available beginning at approximately noon CDT Aug. 16.

About Walmart

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, approximately 230 million customers and members visit more than 10,500 stores and numerous eCommerce websites under 46 banners in 24 countries. With fiscal year 2022 revenue of $573 billion, Walmart employs approximately 2.3 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 https://corporate.walmart.com, on Facebook at https://facebook.com/walmart and on Twitter at https://twitter.com/walmart.

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