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Walmart Releases Third Quarter Fiscal Year 2024 Earnings; Doug McMillon Comments

Walmart Releases Third Quarter Fiscal Year 2024 Earnings; Doug McMillon Comments


BENTONVILLE, AR
Friday, November 17th, 2023

Walmart’s third quarter must have been a successful one, as the retailer has reported some impressive results. Among consolidated revenue of $160.8 billion, United States comparable sales up 4.9 percent, U.S. e-commerce up 24 percent, Walmart revealed significant growth for the quarter.

Doug McMillon, President and Chief Executive Officer, Walmart“We had strong revenue growth across segments for the quarter, and we’re excited to get an early start to the holiday season,” said Doug McMillon, President and Chief Executive Officer, Walmart. “From a Thanksgiving meal that costs less than last year to great prices on fashion, toys, electronics, and seasonal decorations, we’re here to help families from around the world make this a special time. Looking ahead, our inventory is in good shape, the teams are focused, and our associates are ready to serve our customers and members whenever and however they want to be served.”

As a recent release noted, the company’s omnichannel model continues to resonate with customers, helping to deliver strong comp sales, including 4.9 percent for Walmart U.S. The company also saw a strong boost in e-commerce sales, led by strength in pickup and delivery.

Walmart recently announced its Q3 results, revealing several significant company gains

Other highlights from the report include:

  • Delivered strong growth in transaction count both in-store and digitally; strong share gains in grocery
  • Consolidated operating income up $3.5 billion, or 130.1 percent
  • Sam's Club comp. sales up 3.8 percent; Membership income up 7.2 percent
  • Walmart International net sales were $26.7 billion, up 5.4 percent in constant currency

To view the report in full, click here.

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