Page 7 - Craftcil May 2024

n ews highlights

Home beginning to make a comeback at Walmart U.S.

Home is lifting at Walmart U.S. as the general merchandise
segment generated Q1 increases in units, traffic and share. And
on Walmart Marketplace, home was booming – up 20% for the
quarter ended April 30. Other categories that grew by 20% on
marketplace included furniture, sporting goods and kids’ apparel.
Walmart “Store of the Future” remodels are also boosting
performance, executives said during it’s Q3 investor call. “We’re
seeing higher engagement across income cohorts, with upper
income households continuing to account for the majority of the
channels. Still, the company cautioned that shoppers remain
share gains,” said John David Rainey, EVO/CFO.
under pressure. Many consumer pocketbooks are still stretched,
Combining stores, first-party e-commerce and Walmart and we see the effect of that in our business mix as they’re
Marketplace, Walmart U.S. generated share gains in home, fashion
spending more of their paychecks on non-discretionary categories
and hardlines during the quarter, according to John David Rainey, and less on general merchandise,” said Rainey.
EVO/CFO. That growth isn’t yet showing on the comp line,
Total Walmart Inc. company revenues reached $161.5 billion,
however. General merchandise same-store sales fell in the low
with strength across all operating segments. Revenues were up
single-digit range due to price deflation, executives said.
6.6% year-over-year and up 5.8% on a constant currency basis.
At Sam’s Club U.S., the Home and Apparel segment also saw
Global e-commerce net sales grew by 21%. The company’s net
a comp decrease in the low single-digit range. The warehouse income more than tripled compared to the year-ago quarter,
club pointed to softness in seasonal and furniture, partially offset
coming in at $5.10 billion, or 63 cents per share.
by strength in apparel and auto.
Walmart Inc. now expects full-year results to hit the high end
Walmart U.S. delivered better than expected growth with
of its previous guidance, or perhaps even top it. The forecast calls
comp sales up 3.8%, including strong ecommerce growth of
for net sales growth of 3% to 4% and adjusted EPS between
22%. Traffic and sales were strong across both stores and digital
$2.23 and $2.37. Source : www.hfndigital.com

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