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Walmart Q2FY18 e-commerce GMV up 67%
21
Aug '17
E-commerce growth at Walmart US remained strong in Q2 of 2018, with 67 per cent rise in online gross merchandise value (GMV) for the period. The organic growth was led through Walmart.com. The net sales stood at 60 per cent, as customers continued to respond well to new initiatives and an expanded assortment of more than 67 million stock keeping units.

The American retailer recorded total revenue of $123.4 billion, an increase of $2.5 billion, or 2.1 per cent, for the second quarter of fiscal 2018. Excluding currency, the company's total revenue was $124.4 billion, an increase of $3.5 billion, or 2.9 per cent. The comparative sales also increased 1.8 per cent with traffic growth of 1.3 per cent, marking the 12th consecutive quarter with positive comparable sales.

Nine of eleven markets posted positive comparable sales. For the reported period, there was a decline of 1.0 per cent in the net sales worth $28.3 billion at Walmart International. Excluding currency, net sales were $29.3 billion, an increase of 2.5 per cent.

"Our customers are responding to the improvements in stores and online, and our results reflect this. Traffic increases at store level and the e-commerce growth rate are key highlights. We are moving faster and becoming more creative as we strive to make every day easier for busy families." Doug McMillon president and CEO, Walmart.

For the reported period, the American retailer has recorded GAAP EPS of $0.96 and adjusted EPS of $1.08. Second quarter EPS included a charge of $0.17 for loss on extinguishment of debt in connection with the company's recently completed debt tender offers. This discrete charge was partially offset by the gain from the sale of the Suburbia business in Mexico, which benefited EPS by $0.05. (RR)

Fibre2Fashion News Desk – India


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