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August 18, 2021updated 05 Nov 2021 6:19am

Walmart reports 2.4% increase in second-quarter revenue

Walmart expects its global e-commerce sales to reach $75bn by the end of this year.

US-based multinational retailer Walmart has reported that its total revenue rose by 2.4% to $141.0bn in the three months to 30 July.

The company said that its revenue would have increased by 0.6% to $138.6bn if currency were excluded.

It added that the result had been negatively affected by around $8.9bn due to divestitures.

During the quarter, Walmart US’s operating income increased by 20.4%, while its adjusted operating income was up by 12.0%.

The business’ comparable sales, excluding fuel, grew by 5.2% from a year earlier, or 14.5% from the same period two years prior.

During the quarter, its e-commerce sales grew by 6% from the same period of last year and 103% from the corresponding quarter of 2019.

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Walmart’s international net sales fell by 15.2% from $27.1bn to $23.0bn during the three-month period. On a constant currency basis, this represents a 24.0% decline.

Walmart president and CEO Doug McMillon said: “We had another strong quarter in every part of our business.

“Our global e-commerce sales are on track to reach $75bn by the end of the year, further strengthening our position as a leader in omnichannel.

“We grew market share in US grocery, added thousands of new sellers to our marketplace, rapidly grew advertising businesses around the world, and we’re finding innovative ways to commercialise our data and build technology.

“We have a unique ecosystem of products and services designed to serve customers in broader, deeper ways, and we’re grateful to our associates for making it all happen.”

Walmart has increased its full-year sales growth outlook, with its US comparable sales now expected to increase by between 5% and 6%.

The company’s full-year consolidated adjusted operating income outlook has also been revised to between 11.5% and 14% on a constant currency basis.

Earlier this month, Walmart announced that its store associates would be required to wear masks in highly transmissive areas, whether they had been fully vaccinated or not.