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Walmart reports 5.6% sales growth to $138 bn in Q2 FY21

Aug '20
Pic: Shutterstock
Pic: Shutterstock
Walmart, a US-based multinational retail corporation, posted 5.6 per cent revenue growth to $137.7 billion in its second quarter (Q2) for fiscal 2021 that ended on July 31, 2020 compared to revenue of $130.4 billion in the same period last year. Company’s net income for the quarter jumped 79.4 per cent to $6.4 billion (Q2 FY19: $3.6 billion).
Operating income rose 8.5 per cent to $6.0 billion ($5.8 billion). During Q2, Walmart US e-commerce sales grew 97 per cent with strong results across all channels.
Overall sales of Walmart US business grew 9.5 per cent to $93.2 billion ($85.2 billion). However, international sales slipped 6.8 per cent to $27.1 billion ($29.1 billion). Sam’s Club sales were up 8.8 per cent to $16.3 billion ($15.0 billion).
Walmart in its report stated that apparel sales were strong during the quarter with mid-single digit percentage growth across ladies, men’s, and children’s. While grocery segment registered a mid-single digit growth.

Fibre2Fashion News Desk (JL)

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