Walmart Sales Rise Even as Pandemic Wanes
May 18 2021 - 7:21AM
Dow Jones News
By Sarah Nassauer
Walmart Inc.'s sales continued to rise during the spring quarter
though at a slower pace than earlier in the Covid-19 outbreak, as
some consumers returned to more typical shopping patterns as the
pandemic wanes.
Comparable sales, those from U.S. stores and digital channels
operating for at least 12 months, rose 6% in the quarter ended
April 30 compared with the same period last year. U.S. e-commerce
sales rose 37%. It was the slowest online growth for Walmart since
the coronavirus outbreak in early 2020 upended the retail
landscape.
Sales of nonfood items jumped more than 20% in the quarter,
aided by government stimulus checks as customers splurged on
recreation, home improvement and apparel items, the company said.
Grocery sales fell compared with the same quarter last year when
shoppers hoarded some goods such as food and toilet paper, but the
retail behemoth gained grocery share versus last year, Walmart
said.
"Our optimism is higher than it was at the beginning of the
year. In the U.S., customers clearly want to get out and shop," CEO
Doug McMillon said in a release. "Stimulus in the U.S. had an
impact, and the second half has more uncertainty than a typical
year. We anticipate continued pent-up demand throughout 2021."
During the same quarter last year, Walmart's U.S. comparable
sales grew 10% and e-commerce jumped 74% as consumers
stockpiled.
Overall, Walmart's global revenue rose 2.7% to $138.3 billion in
the April-ended quarter. Net income decreased 32% to $2.7 billion,
including losses on its sale of its U.K. and Japanese units and
adjustments to the value of its stake in Chinese e-commerce company
JD.com Inc.
Shares of Walmart rose 3% in early trading.
Write to Sarah Nassauer at sarah.nassauer@wsj.com
(END) Dow Jones Newswires
May 18, 2021 08:06 ET (12:06 GMT)
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