Full-time and part-time employees who receive bonuses; Fox Biz Flash: 7/21.
Walmart Inc. profits hit 79% in the three months through June as more Americans ordered goods online as they rode the COVID-19 pandemic from home.
The Bentonville, Arkansas-based big-box retailer earned $ 6.48 billion, as an adjusted $ 1.56 per share, on top of the $ 1.25 that Wall Street analysts surveyed by Refinitiv expected. Total revenue rose 5.4% to $ 137.7 billion, beating the $ 135.48 billion consensus.
| Ticker | Security | Last | Change | Change% |
|---|---|---|---|---|
| WMT | WALMART INC. | 135.60 | +3.00 | + 2.26% |
“I want to thank our colleagues very much for their restless efforts in these unusual times,” CEO Doug McMillon said in a statement. “We also value the trust and confidence of our customers.”
E-commerce sales peaked at 97% from a year ago, while sales in U.S. companies’ stores rose by at least 9.3% year-on-year, boosted by general market and food. Walmart said overall sales were helped by the $ 1,200 incentive checks by the U.S. government.
The average US ticket increased by 27% as the number of transactions dropped by 14%.
Walmart spent about $ 1.5 billion on COVID-19 related expenses.
The company has not provided any guidance since its outlook in the first quarter was curtailed due to uncertainties caused by COVID-19.
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Walmart shares were up 14% this year through Monday, while the S&P 500 was up 4.68%.
