AFP, New York :
Walmart reported much higher second-quarter sales and robust growth in its e-commerce businesses Thursday, even as it reported a loss on one-time costs associated with selling a Walmart Brazil stake.
The world’s biggest retailer scored its most robust jump in more than 10 years in US comparable store sales, sending shares sharply higher. But it reported an $861 million loss following pre-tax costs of $4.8 billion on the Brazil sales.
Revenues rose 3.8 percent to $128.0 billion, compared with the year-ago period.
Comparable sales in Walmart’s US stores – the linchpin of company revenues and a benchmark closely monitored by Wall Street – rose 4.5 percent.
The company has been adding grocery pickup at US stores and now offers the program in more than 1,800 locations, or nearly 40 percent of the overall US network.
Sales also rose in the company’s international business and in its Sam’s Club wholesale business.
“We’re continuing to aggressively roll out grocery pickup and delivery in the US and we recently announced expanded omnichannel initiatives in China and Mexico,” said Chief Executive Doug McMillon.
“Customers have choices and we’re making it easier to choose Walmart.”
Shares jumped 11.0 percent to $100.12 in pre-market trading.
Walmart reported much higher second-quarter sales and robust growth in its e-commerce businesses Thursday, even as it reported a loss on one-time costs associated with selling a Walmart Brazil stake.
The world’s biggest retailer scored its most robust jump in more than 10 years in US comparable store sales, sending shares sharply higher. But it reported an $861 million loss following pre-tax costs of $4.8 billion on the Brazil sales.
Revenues rose 3.8 percent to $128.0 billion, compared with the year-ago period.
Comparable sales in Walmart’s US stores – the linchpin of company revenues and a benchmark closely monitored by Wall Street – rose 4.5 percent.
The company has been adding grocery pickup at US stores and now offers the program in more than 1,800 locations, or nearly 40 percent of the overall US network.
Sales also rose in the company’s international business and in its Sam’s Club wholesale business.
“We’re continuing to aggressively roll out grocery pickup and delivery in the US and we recently announced expanded omnichannel initiatives in China and Mexico,” said Chief Executive Doug McMillon.
“Customers have choices and we’re making it easier to choose Walmart.”
Shares jumped 11.0 percent to $100.12 in pre-market trading.
