Globally, the company had substantial top-line growth. Total revenue increased by 2.4 %, or 2.6 % in constant currency, to $141.6 billion.

Table of Content

First Quarter Highlights First Quarter YoY Financial Comparison Additional Key Highlights
 

‍First Quarter Highlights

  • Globally, the company had substantial top-line growth. Total revenue increased by 2.4 %, or 2.6 % in constant currency, to $141.6 billion. Due to divestitures and currency fluctuations, growth was slowed by $5.0 billion and $0.4 billion, respectively
  • On a two-year stack, Walmart's U.S. comp sales increased by 3.0% and 9.0%, respectively. On a two-year stack, eCommerce growth was 1% or 38 %
  • On a two-year stack, Sam's Club comp sales climbed 10.2 % and 17.4 %. The revenue from membership increased by 10.5 %
  • The rise in consolidated operating expenses as a proportion of net sales was mostly due to higher wage costs in Walmart U.S

Source: Earnings Release (FY23 Q1)

 

First Quarter YOY Financial Comparison

  • Total company sales were $141.57 billion in the first quarter of 2023, compared to $138.31 billion for the same period last year
  • The expense ratio increased from 95.0% in the first quarter of 2022 to 96.2% in the same period this year
  • The Operating Income Ratio dipped down from 5.0% in Q1 2022 to 3.8% during the same period this year
  • Net Earnings Ratio declined from 2.0% in Q1 2022 to 1.5% for the same period this year

Source: Financial Information - Quarterly Results

 

Additional Key Highlights

  • Improved sales in the Apparel and Health & Beauty categories, as well as Walmart Connect's sustained contribution
  • Pickup is now available in 4,600 locations
  • More than 3,600 stores now offered same-day delivery and 75 stores were remodeled
  • Despite surpassing last year's stimulus-related sales, comp sales climbed, led by growth in the food categories
  • Fresh meat, chiller, produce & floral, and deli also performed well, as did pet goods, baby care, and laundry & home care categories
  • Due to last year's lapping stimulus and ongoing supply chain restrictions, the home was soft, somewhat offset by apparel, outdoor living, and tire strength
  • Last year's lapping stimulus hurt consumer electronics, which was largely mitigated by the strength of gift cards
  • Health care and over-the-counter medications were popular

Source: Financial Information - Quarterly Results

This is an excerpt from the report. To download the full report, fill in your details below.