American retailer Walmart's revenue surges 5.2% in Q3 FY24

Consolidated gross margin rate rose by 32 basis points. Consolidated operating expenses, as a percentage of net sales, decreased by 182 basis points. However, on an adjusted basis, operating expenses were up 37 basis points due to variable pay expenses and store remodels, the company said in a press release.

A notable increase in consolidated operating income was observed, surging by $3.5 billion, or 130.1 per cent. Adjusted operating income also rose by 3 per cent.

The company’s return on assets (ROA) stood at 6.5 per cent, while the return on investment (ROI) was 14.1 per cent, up by 130 basis points. Adjusted earnings per share (EPS) for the quarter was $1.53.

In terms of specific segments, Walmart US reported a 4.9 per cent increase in comparable sales and a 24 per cent rise in e-commerce sales

Looking at Walmart international’s performance in the third quarter of fiscal 2024 compared to the third quarter of fiscal 2023, net sales increased by $2.7 billion, a 10.8 per cent rise, reaching $28 billion.

Similarly, Sam’s Club US experienced growth, with net sales reaching $22 billion, up from $21.4 billion, marking a 2.8 per cent increase.

We had strong revenue growth across segments for the quarter, and we’re excited to get an early start to the holiday season. From a Thanksgiving meal that costs less than last year, to great prices on fashion, we’re here to help families from around the world make this a special time. Looking ahead, our inventory is in good shape, the teams are focused, and our associates are ready to serve our customers and members whenever and however they want to be served,” said Doug McMillon, president and CEO, Walmart.

Fibre2Fashion News Desk (DP)