Walmart reports Q2 loss

Walmart reported much higher second-quarter sales and robust growth in its e-commerce businesses yesterday, even as it reported a loss on one-time costs associated with selling a Walmart Brazil stake, reports AFP.

The world’s biggest retailer scored its most robust jump in more than 10 years in US comparable store sales, sending shares sharply higher. But it reported an $861 million loss following pre-tax costs of $4.8 billion on the Brazil sales.

Revenues rose 3.8 per cent to $128.0 billion, compared with the year-ago period.

Comparable sales in Walmart’s US stores—the linchpin of company revenues and a benchmark closely monitored by Wall Street—rose 4.5 per cent.

The company has been adding grocery pickup at US stores and now offers the program in more than 1,800 locations, or nearly 40 per cent of the overall US network.

Sales also rose in the company’s international business and in its Sam’s Club wholesale business.

“We’re continuing to aggressively roll out grocery pickup and delivery in the US and we recently announced expanded omnichannel initiatives in China and Mexico,” said Chief Executive Doug McMillon.

“Customers have choices and we’re making it easier to choose Walmart.”

Shares jumped 11.0 per cent to $100.12 in pre-market trading.

 

Walmart reports Q2 loss

Walmart reported much higher second-quarter sales and robust growth in its e-commerce businesses yesterday, even as it reported a loss on one-time costs associated with selling a Walmart Brazil stake, reports AFP. The worlds biggest retailer scored its most robust jump in more than 10 years in US comparable store sales, sending shares sharply higher. But it reported an $861 million loss following pre-tax costs of $4.8 billion on the Brazil sales. Revenues rose 3.8 per cent to $128.0 billion, compared with the year-ago period. Comparable sales in Walmarts US storesthe linchpin of company revenues and a benchmark closely monitored by Wall Streetrose 4.5 per cent. The company has been adding grocery pickup at US stores and now offers the program in more than 1,800 locations, or nearly 40 per cent of the overall US network. Sales also rose in the companys international business and in its Sams Club wholesale business. Were continuing to aggressively roll out grocery pickup and delivery in the US and we recently announced expanded omnichannel initiatives in China and Mexico, said Chief Executive Doug McMillon. Customers have choices and were making it easier to choose Walmart. Shares jumped 11.0 per cent to $100.12 in pre-market trading.