SA: Walmart – e-commerce surge leads to earnings smasher

18/08/2020

SEEKING ALPHA reports:

– Walmart (NYSE:WMT) reports comparable sales in the U.S. rose 9.3% in Q2 to sail past the consensus mark of +6.4%. U.S. e-commerce sales were up 97% during the period.

– Average ticket was up 27.0% in the U.S., while transactions fell 14.0%.

– Sam’s Club comparable sales in the U.S. were up 13.3% vs. +6.20% consensus.

– International sales fell 6.8% during the quarter to $27.2B with F/X and the government-mandated closing of Flipkart in India dragging on results.

To read the full post, please click here.

Here is a link to the Form 8-K, where president and CEO Doug McMillon’s prepared remarked read: “I want to give a big thank you to our associates for their tireless efforts during these unprecedented times. We also appreciate the trust and confidence of our customers. We remain focused on serving them well now and expanding our set of global capabilities to serve them well in the future.”

For the earnings call presentation, please click here.

The live conference call with investors is at 7am CDT.

WMT shares up 1.4% pre-market after an initial 6% (pre-market) surge on results, later down 0.4% ahead of the Tuesday session.

More here: “Walmart turns lower after pointing to normalizing trends“.