Strong top-line growth was achieved by the company globally, partially fueled by inflation. $152.9 billion was the total revenue, an increase of 8.4% or 9.1% in constant currency

Table of Content

Second Quarter Highlights Second Quarter YoY Financial Comparison Additional Key Highlights
 

Second Quarter Highlights

  • Strong top-line growth was achieved by the company globally, partially fueled by inflation. $152.9 billion was the total revenue, an increase of 8.4% or 9.1% in constant currency
  • On a two-year stack, Walmart's U.S. comp sales increased by 6.5% and 11.7%. A two-year stack of eCommerce growth showed 12% and 18% growth. Continued to increase the share of the market in grocery
  • On a two-year stack, Sam's Club comp sales climbed 17.2% and 9.5%, respectively. Membership income climbed by 8.9%, and the number of members reached a record high
  • Walmart's global net sales increased by $1.3 billion, or 5.7%, to $24.4 billion, but were adversely impacted by $1.0 billion in currency swings. Double-digit comps in Mexico's, Canada's, and China's three largest markets

Source: Financial Information - Quarterly Results

 

Second Quarter YoY Financial Comparison

  • Total company sales were $152.8 billion in the second quarter of 2023, compared to $141.0 billion for the same period last year
  • The expense ratio went up from approximately 94.8% in the second quarter of 2022 to 95.5% in the same period this year
  • Operating Profit Ratio decreased from 5.2% in Q2 2022 to 4.5% for the same period this year
  • Net Earnings (Attributable to Walmart) Ratio increased from 3.0% in Q2 2022 to 3.4% for the same period this year

Source: Financial Information - Quarterly Results

 

Additional Key Highlights

  • Walmart Connect in the United States and Flipkart advertising drove roughly 30% growth in the global advertising market
  • Food sales were strong, driving sales growth (+mid-teens); this was reflected in ongoing market share increases
  • Strong pharmacy sales were mostly the result of a favorable mix and the inflation of branded drugs; sales increased by mid-20% over a two-year stack
  • Sales were strong in the back-to-school, automobile, lawn & garden, and discretionary categories like clothes, electronics, and home goods

Source: Financial Information - Quarterly Results

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