Walmart Inc. reported a robust financial performance for the quarter ended July 31, 2024, with significant growth in net sales and operating income. Net sales increased by 4.7% to $167.767 billion, and operating income rose by 8.5% to $7.940 billion compared to the same period in the previous fiscal year. The company's U.S. segment saw a 4.2% rise in comparable sales, driven by growth in transactions, particularly in grocery and health and wellness. E-commerce sales contributed approximately 2.9% to the segment's comparable sales. Sam's Club also experienced a 4.7% increase in comparable sales, with e-commerce sales contributing around 2.2%. Walmart International's net sales grew by 7.1%, with positive comparable sales across most markets, led by e-commerce and food and consumables categories. The company...Show More

Walmart Inc. reported a robust financial performance for the quarter ended July 31, 2024, with significant growth in net sales and operating income. Net sales increased by 4.7% to $167.767 billion, and operating income rose by 8.5% to $7.940 billion compared to the same period in the previous fiscal year. The company's U.S. segment saw a 4.2% rise in comparable sales, driven by growth in transactions, particularly in grocery and health and wellness. E-commerce sales contributed approximately 2.9% to the segment's comparable sales. Sam's Club also experienced a 4.7% increase in comparable sales, with e-commerce sales contributing around 2.2%. Walmart International's net sales grew by 7.1%, with positive comparable sales across most markets, led by e-commerce and food and consumables categories. The company's gross profit rate improved by 43 basis points, attributed to managing prices and growth in higher-margin businesses. Operating expenses as a percentage of net sales increased slightly due to higher marketing expenses and variable pay. Walmart's effective income tax rate decreased to 24.2% for the quarter. The company's strategic capital allocation focused on high-return areas such as e-commerce, supply chain, and store and club investments, with capital expenditures totaling $10.507 billion for the first half of the fiscal year. Walmart's free cash flow for the six months was reported at $5.9 billion, a decrease from the previous year due to increased capital expenditures and inventory purchases. The company's Board of Directors approved the sale of its investment in JD.com, with net proceeds of $3.6 billion expected to be reflected in the next quarter's cash flows. Walmart continues to prioritize growth through its omni-channel business model, aiming to improve operating income margin and return on investment.