American retailer Walmart's revenue surges 6.7% to $611.3 bn in FY23

Sam's Club also saw an increase in comparable sales, with a rise of 10.5 per cent, and membership income was up 8.6 per cent, Walmart said in a media release.

In the fourth quarter (Q4) of FY23, the company’s total revenue was $164 billion, up 7.3 per cent from the previous year. Walmart US stores saw an 8.3 per cent increase in comparable sales, while e-commerce sales grew 17 per cent. Sam's Club's comparable sales also increased by 12.2 per cent, and membership income rose 7.1 per cent. Walmart International's net sales were $27.6 billion, a 2.1 per cent increase, while constant currency sales were up 5.5 per cent.

Looking forward to FY24, Walmart expects consolidated net sales to increase by 2.5 per cent to 3 per cent on a constant currency basis, while Walmart US comp sales are expected to increase by 2 per cent to 2.5 per cent. Sam's Club US comp sales are expected to increase by about 5 per cent, and Walmart International net sales are expected to increase by about 6 per cent on a constant currency basis.

Consolidated operating expenses are expected to increase slightly as a percentage of net sales on a constant currency basis, while consolidated operating income is expected to increase by approximately 3 per cent.

For Q1 of FY24, Walmart expects consolidated net sales to increase by 4.5 per cent to 5 per cent on a constant currency basis, with consolidated operating income increasing by 3.5 per cent to 4 per cent. Adjusted earnings per share are expected to be between $1.25 to $1.30.

Fibre2Fashion News Desk (DP)