Walmart has reported a solid set of results for its fiscal first quarter, boosted in particular by soaring sales in its ecommerce division.
For the quarter, revenue was up 1.4% to $117.5bn, rising by 2.5% on a constant-currency basis. Operating profit dipped by 0.7% to $5.2bn, but was up 1.3% on a constant-currency basis.
The retail giant performed well in its home market, with total sales up 2.9% to $75.4bn and like-for-like growth of 1.4%. The results were helped by a 1.5% increase in store traffic and improved average ticket spend. Online sales in the US rose by 63% year-on-year, on GMV growth of 69%, with the group saying the majority of the growth was organic in nature.
At its International unit, sales declined by 3.5% to $27.1bn (+0.8% constant-currency), while the Sam’s Club banner reported a 2.8% rise to $14bn (LFL +1.6%).
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