Walmart Just Had Another Strong Quarter
The nation’s largest retailer grew larger in the third quarter. Much larger.
Walmart reported that its U.S. comparable sales grew 6.4% in the third quarter ending Oct. 31 compared to the same quarter last year, and that its e-commerce sales ballooned 79%. Comparable sales were strong in general merchandise, health and wellness and food, the Bentonville, Ark.-based retailer said.
Total revenue was $134.7 billion, an increase of $6.7 billion, or 5.2%.
“This was another strong quarter on the top and bottom line,” said Doug McMillon, president and CEO of Walmart. “Our associates continue to impress during this challenging year. They are working together to serve customers and communities in new, relevant ways and we’re very proud of them. We think these new customer behaviors will largely persist and we’re well positioned to serve customers with the value and experience they’re looking for.”
Walmart said Sam’s Club comparable sales increased 11.1% and e-commerce sales grew 41% in the third quarter. Walmart International net sales were $29.6 billion, an increase of 1.3%.