Walmart’s e-commerce sales rose 97% in the US


August 19, 2020 | By RetailME Bureau

Walmart’s e-commerce sales rose 97% in the US, as the global retailer announced in its Q2 FY21 earnings. The retailer’s comparable sales in the US in Q2 grew 9.3%, while total revenue stood at $137.7 billion, an increase of $7.4 billion.

Walmart’s net sales and operating results were significantly affected by a continuation of the COVID-19 crisis, as the retailer incurred $1.5 billion in incremental costs related to the pandemic. Increased demand for products across multiple categories led to strong top-line and gross margin results.

As Walmart’s e-commerce sales rose 97% in the US, president and CEO, Doug McMillon said, “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.”

Meanwhile, Walmart International’s net sales stood at $27.2 billion, a decrease of 6.8%, negatively impacted by approximately $2.4 billion due to changes in currency rates. Walmart International’s net sales indicate the effects of the government-mandated closure of the company’s Flipkart business in India for a portion of the said quarter, coupled with similar actions in markets in Africa and Central America.

 

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