Walmart's Q2 revenue exceeded expectations! E-commerce sales increased by 12% year-on-year!

It is learned that according to foreign media reports, Walmart recently announced its financial results for the second quarter of 2022. The report shows that Walmart's second-quarter profits exceeded expectations, and grocery and e-commerce sales achieved strong growth.

Here's a summary of Walmart's second-quarter results ending July 31:

• Total revenue was $152.86 billion, up 8.4% year-on-year, compared with market expectations of $150.81 billion.
• Net profit was $5.15 billion, compared with $4.28 billion in the same period last year;
• Adjusted earnings per share were $1.77, compared with market expectations of $1.62;
• U.S. same-store sales (excluding fuel) increased 6.5% year-over-year, beating analysts' expectations of 5.9%;
• Sam's Club same-store sales (excluding fuel) increased 9.5% year-over-year, slightly below the expected 10.1%;
• International net sales were $24.4 billion, up 5.7%, or $1.3 billion, year-over-year.
• E-commerce sales increased 12% year-on-year and 18% compared to 2019.

Wal-Mart Chief Financial Officer John David Rainey said some of Wal-Mart's sales growth came from inflation, which pushed up the prices of food and other goods. Wal-Mart's reputation as a discount retailer attracted more middle- and upper-income shoppers. About three-quarters of Wal-Mart's food market share growth came from customers with annual household incomes of $100,000 or more.

Walmart CEO Doug McMillon said that Walmart's actions to improve inventory levels in the United States and the increase in grocery sales mix put pressure on second-quarter profit margins and annual outlook. In the second quarter, Walmart made good progress in improving supply chain costs. Walmart will continue to advance its strategy and expand its online business.

Walmart reiterated its guidance for the second half of the year. It expects U.S. same-store sales (excluding fuel) to grow by about 3% in the second half of this year and about 4% for the full year, and expects full-year adjusted earnings per share to fall by 9%-11%.

Walmart also revealed sales in the U.S. market in its financial report. In the second quarter, sales of daily necessities showed a "mid-single-digit" increase; sales of discretionary categories such as electronics, clothing and home products were weak; sales of automobiles, lawn and garden, and back-to-school supplies categories grew steadily.

Editor ✎ Nicole/

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