US multinational retailer Walmart reports Q1 FY22 sales of $138 bn

Walmart, a US-based multinational retail corporation, has reported 2.7 per cent revenue growth to $138.3 billion in its first quarter (Q1) FY22 ended on April 30, 2021, compared to the revenue of $134.6 billion in the corresponding period previous fiscal. The company’s net income for the quarter slipped to $2.7 billion (Q1 FY21: $3.9 billion).

 

“This was a strong quarter. Every segment performed well, and we’re encouraged by traffic and grocery market share trends. Our optimism is higher than it was at the beginning of the year. In the US, customers clearly want to get out and shop. We have a strong position as our store environment improves and e-commerce continues to grow,” Doug McMillon, president and CEO of Walmart, said in a press release.

 

Sales of Walmart US during Q1 FY22 grew 5 per cent to $93.2 billion ($88.7 billion), while e-commerce sales grew 37 per cent. However, Walmart international sales dipped 8.3 per cent to $27.3 billion ($29.8 billion). Sam’s Club sales increased 10.1 per cent to $16.7 billion ($15.2 billion).

 

“Stimulus in the US had an impact, and the second half has more uncertainty than a typical year. We anticipate continued pent-up demand throughout 2021. Our results reflect the continued hard work and commitment our associates have shown throughout the pandemic — serving others and helping provide vaccines — and we’re grateful to them,” McMillon concluded.