EYE on RETAIL: Walmart's strong quarter

The world’s largest retailer saw gains across several metrics in the first quarter, including comp-store sales, total sales, U.S. sales and online sales. 

It also achieved a big increase in earnings.

“Our team delivered a great quarter,” stated Walmart president and CEO Doug McMillion. “Around the world our goal is simple — we’re focused on saving our customers both money and time.”

E-commerce sales soared 21% globally, including a 22% rise for Walmart U.S., fueled by store-fulfilled pickup and delivery as well as marketplace.

Walmart's net revenue increased 6% to $161.5 billion. Walmart’s U.S. sales rose 4.6% to $108.7 billion. Transactions increased by 3.8%, and the average ticket was flat with the last quarter.

U.S. same-store sales rose 3.8%. At Sam’s Club, same-store sales increased 4.4%.

The retail giant’s net income rose to $5.10 billion for the quarter ended April 30, compared with $1.67 billion in the year-ago period. 

“Our strong results this quarter clearly demonstrate the power of our global omni-channel retail capabilities and the team’s ability to execute with discipline,” stated Walmart CFO John David Rainey in the earnings release. “As we continue to reshape our business model, we’re focused on strategically investing in areas that reinforce our purpose and growth strategy.”