Walmart reports $122.7bn Q1 revenue
Retail giant Walmart has reported a total revenue of $122.7bn for the first quarter of FY 2019, which was 4.4% up on last year.
Walmart US generated $77.7bn of that revenue total, while Walmart International contributed $30.3bn (which was 11.7% up on last year) and Sam’s Club brought in $13.6bn.
Walmart US e-commerce sales grew 33% – which would be a reflection of how much emphasis the company has put on developing its online channels and home delivery offerings.
Looking ahead, Walmart advised that its recently announced investment in the India-based e-commerce player Flipkart is “expected to negatively impact fiscal year 2019 EPS by approximately $0.25 to $0.30 if the transaction closes at the end of the second quarter”.
The Walmart statement flagged up the proposed tie-up between its UK subsidiary Asda and Sainsbury’s. Under the terms of the proposed deal, Walmart will receive cash and 42% of the combined business.
In its full presentation on the Q1 results, Walmart said that its “food and consumables had solid comp sales driven by strong customer traffic”, adding that “categories like fresh foods and packaged goods were particularly strong due in part to growth in private brands”.
