The Postal Regulatory Commission has approved a range of postal rates for smaller packages originating from overseas to the United States, part of an effort to level the playing field for U.S. merchants and manufacturers disadvantaged by international postage rules. This action gives the PRC and the USPS leeway whether or not the U.S. remains in the Universal Postal Union (UPU), a conglomeration of 192 countries charged with setting postal rates among member states. The proposed rates impact packages weighing 2 kilograms or less, about 4.4 pounds. Under existing UPU guidelines, some member states, notably China, receive significantly discounted postal rates as “developing” countries even though that hasn’t been the case for some time. This is allowing Chinese merchants to substantially undercut U.S. competitors, to the point where shipping is often cheaper from China to the U.S. than it is within the U.S. Click Read More below for additional information.
Walmart U.S. Q2 comp sales1 grew 2.8% and Walmart U.S. eCommerce sales grew 37%, Company reports Q2 FY20 GAAP EPS of $1.26; Adjusted EPS2 of $1.27, led by strength at Walmart U.S., Walmart raises expectations for fiscal 2020 U.S. comp sales, operating income and EPS3
Total revenue was $130.4 billion, an increase of $2.3 billion, or 1.8%. Excluding currency2, total revenue was $131.7 billion, an increase of $3.7 billion, or 2.9%.
Walmart U.S. comp sales increased on a two-year stacked basis by 7.3%, which is the strongest growth in more than 10 years. Segment operating income increased 4%, marking the fifth consecutive quarter of growth.
Walmart U.S. eCommerce sales growth of 37% includes strong growth in online grocery.
Sam’s Club comp sales1 increased 1.2%, and eCommerce sales grew 35%. Reduced tobacco sales negatively affected comp sales by 300 basis points.
Net sales at Walmart International were $29.1 billion, a decrease of 1.1%. Excluding currency2, net sales were $30.4 billion, an increase of 3.3%. Strength in Walmex and China were offset by softness in the U.K. and Canada.
Operating income declined 2.9%, or 2.4% in constant currency2, which was better than planned with strong results in the U.S. businesses. As expected, the inclusion of Flipkart this quarter negatively affected profit results
details at: https://corporate.walmart.com/media-library/document/q2-fy20-earnings-release/_proxyDocument?id=0000016c-9329-dafb-a57f-f37d868d0001