Walmart revenues up 4.4%

Global retail giant Walmart has reported a revenue of $122.7 billion for Q1 of the year, up 4.4% on last year.

Walmart’s US business generated $77.7 billion of that total, while the Walmart International contributed $30.3 billion (up 11.7% on last year). Sam’s Club earned $13.6bn.

Domestic e-commerce sales grew by 33%, reflecting the energy it has put into this area.

Looking ahead, Walmart advised that its recently announced investment in the India-based e-commerce player Flipkart is “expected to negatively impact fiscal year 2019 EPS by approximately $0.25 to $0.30 if the transaction closes at the end of the second quarter”.

The financial report also flagged up the planned tie up between Asda and Sainsburys. Under the deal, Walmart would receive cash and 42% of the new business.

In its full presentation on the Q1 results, Walmart said that its “food and consumables had solid comp sales driven by strong customer traffic”, adding that  “categories like fresh foods and packaged goods were particularly strong due in part to growth in private brands”.

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