CNBC: Walmart earnings top expectations as customers’ new shopping habits send e-commerce sales soaring 79%

© Gary Arbach | Dreamstime.com - Walmart Supercenter

CNBC reports:

Key points

– Walmart’s U.S. e-commerce sales soared by 79% in the third quarter, as customers continued to shop online during the coronavirus pandemic.

– Instead of browsing store aisles, more customers are shipping purchases to their homes, getting groceries dropped off at their doors or picking up online purchases by the curbside. 

– “We think these new customer behaviors will largely persist and we’re well positioned to serve customers with the value and experience they’re looking for,” Walmart CEO Doug McMillon said in a news release.

Walmart reported third-quarter earnings on Tuesday that topped Wall Street’s expectations as customers continued to shop online and sent U.S. e-commerce sales soaring by 79%.

The discounter said customers are embracing the new ways of shopping they adopted during the global health crisis, and as the holiday shopping season begins. Instead of browsing store aisles, more of them are shipping purchases to their homes, getting groceries dropped off at their doors or picking up online purchases by the curbside. 

Walmart did not provide an outlook, but the company’s CEO Doug McMillon said the popularity of the online shopping services will not fade away. 

To read the full post, please click here.

The Q3 fiscal 2021 earnings at a glance can be found here.

The earnings call presentation is here.

Stock up 1.2% then down 1.2% in pre-market; S&P futures down 0.6%.