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Walmart Inc.: Releases Q1 FY-2020 Earnings

Bentonville / AR. (wama) Walmart Inc. announced its financial results for the first quarter of fiscal 2020 – the 13 weeks that ended on April 26, 2019. Walmart U.S. Q1/2020 comparable sales grew 3.4 percent and Walmart U.S. eCommerce sales grew 37 percent. Other financial highlights and overview:

  • Total revenue was USD 123.9 billion, an increase of USD 1.2 billion, or 1.0 percent. Excluding currency, total revenue was USD 125.8 billion, an increase of USD 3.1 billion, or 2.5 percent.
  • Walmart U.S. comp sales of 3.4 percent marks the best Q1 comp in 9 years and is the fourth consecutive quarter above 3 percent. Operating income was better than expected, up 5.5 percent.
  • Walmart U.S. eCommerce sales growth of 37 percent reflects strong growth in online grocery, as well as the Home and Fashion categories on Walmart.com.
  • Sam’s Club comp sales increased 0.3 percent, and eCommerce sales grew about 28 percent. Reduced tobacco sales negatively affected comp sales by 270 basis points.
  • Net sales at Walmart International were USD 28.8 billion, a decline of 4.9 percent. Excluding currency, net sales were USD 30.6 billion, an increase of 1.2 percent.
  • Operating income declined 4.1 percent, or 3.0 percent in constant currency, which was better than planned as strong results from Walmart U.S. and Sam’s Club were offset by the inclusion of Flipkart this year.
  • Adjusted EPS excludes an unrealized gain, net of tax, of USD 0.20 on the company’s equity investment in JD.com.

«We’re changing to enable more innovation, speed and productivity, and we’re seeing it in our results. We’re especially pleased with the combination of comparable sales growth from stores and eCommerce in the U.S. Our team is demonstrating an ability to serve customers today while building new capabilities for the future, and I want to thank our associates for a strong start to the year», said President and CEO Doug McMillon.

For additional information please read Walmart’s PDF file below (1’167 KB).