Walmart Q2 FY23 revenue reaches US$152.9 billion, up 8.4 percent

Walmart Q2 FY23 revenue reaches US$152.9 billion, up 8.4 percent

THE WHAT? Walmart Q2 FY23 revenue has reached US$152.9 billion, up 8.4 percent, with the company said to have made good progress during the quarter operationally to improve costs in its supply chain.

THE DETAILS The company’s U.S. comp sales grew 6.5 percent and 11.7 percent on a two- year stack. eCommerce growth reached 12 percent and 18 percent on a two-year stack. 

Walmart International net sales reached US$24.4 billion, an increase of US$1.3 billion, or 5.7 percent, which was said to be negatively affected by US$1.0 billion from currency fluctuations. 

THE WHY? Doug McMillon, President and CEO, Walmart, “We’re pleased to see more customers choosing Walmart during this inflationary period, and we’re working hard to support them as they prioritize their spending. 

“The actions we’ve taken to improve inventory levels in the U.S., along with a heavier mix of sales in grocery put pressure on profit margin for Q2 and our outlook for the year. We made good progress throughout the quarter operationally to improve costs in our supply chain, and that work is ongoing. We continue to build on our strategy to expand our digital businesses, including the continued strength we see in our international markets.”

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