Walmart Releases Q2 FY20 Earnings

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

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