American retailer Walmart's e-commerce sales climb 8% in Q3 FY22

Changes in currency exchange rates positively affected net sales by approximately $1.3 billion. Flipkart, China and Mexico delivered strong growth in e-commerce, Walmart said in its press release.

Walmart’s total revenue for the third quarter of fiscal 2022 was $140.5 billion, up 4.3 per cent, negatively affected by approximately $9.4 billion related to divestitures. Excluding currency, total revenue would have increased 3.3 per cent to $139.2 billion.

For the third quarter of fiscal 2022, Walmart’s consolidated operating income was $5.8 billion, an increase of 0.2 per cent, negatively affected by $0.4 billion related to divestitures, or about 750 basis points. Adjusted EPS of $1.45 excludes the effects, net of tax, of a loss on extinguishment of debt of $0.67 and net gains on equity investments of $0.33.

“Our momentum continues with strong sales and profit growth globally. Our omni-channel focus is pushing digital penetration to record levels. We gained market share in grocery in the US, and more customers and members are returning to our stores and clubs around the world. Looking ahead, we have the people, the products, and the prices to deliver a great holiday season for our customers and members,” Walmart president and CEO Doug McMillon said.

Fibre2Fashion News Desk (RR)