Walmart reports Q3 FY21 revenue of $135 bn

19 Nov '20

2 min read

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Walmart, a US-based multinational retail corporation, has reported 5.2 per cent revenue growth to $134.7 billion in its third quarter (Q3) FY21 that ended on October 30, 2020, compared to the revenue of $128.0 billion in same period prior year. Company’s net income attributable to Walmart rose 56.2 per cent to $5.1 billion (Q3 FY20: $3.2 billion).

Cost of sales grew 4.6 per cent to $100.3 billion ($95.9 billion). Operating, selling, general and administrative expenses were $28.5 billion ($27.3 billion). Operating income for Q3 FY20 jumped 22.5 per cent to $5.8 billion ($4.7 billion).

“This was another strong quarter on the top and bottom line. Our associates continue to impress during this challenging year. They are working together to serve customers and communities in new, relevant ways and we’re very proud of them,” Doug McMillon, president and CEO of Walmart, said in a press release.

Sales of Walmart US during the reported quarter were up 6.2 per cent to $88.3 billion ($83.1 billion). Walmart international sales grew marginally 1.3 per cent to $29.5 billion ($29.1 billion). Sam’s Club sales increased 8.3 per cent to $15.8 billion ($14.6 billion).

“We think these new customer behaviors will largely persist and we’re well positioned to serve customers with the value and experience they’re looking for,” McMillon said.

Fibre2Fashion News Desk (JL)

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