Walmart Sees Success with Q3 2017 Financial Report

The holidays aren't the only thing Walmart is celebrating this time of year. Third quarter comps for the company grew 2.7 percent, while its U.S. e-commerce sales jumped up 50 percent. It also reports its Q3 FY18 GAAP EPS of $0.58, and its Adjusted EPS of $1.00.

The company is now expecting a full-year GAAP EPS somewhere along the lines of $3.84 to $3.92, and an Adjusted full-year EPS somewhere between $4.38 to $4.46.

“We are pleased with the strong results in the quarter across each of our business segments, and I want to thank our associates for their commitment and great work to make it happen. We have momentum, and it’s encouraging to see customers responding to our store and e-commerce initiatives. We are leveraging our unique assets to save customers time and money and serve them in ways that are easy, fast, friendly, and fun,” said Doug McMillon, President and CEO, in a detailed press release.

According to the company's release, growth is reflected the following percentage gains:

• The company’s third-quarter GAAP EPS was adjusted for three items. A charge of $0.29 for loss on extinguishment of debt in connection with the company’s recently completed debt tender offer, a charge of $0.09 based on discussions with government agencies regarding the possible resolution of the FCPA matter, and a charge of $0.04 based on the decision to exit certain properties in one of the company’s international markets.
• Total revenue was $123.2 billion, an increase of $5 billion, or 4.2 percent. Excluding currency, total revenue was $122.7 billion, an increase of $4.5 billion, or 3.8 percent
• Walmart U.S. comp sales increased 2.7 percent, and comp traffic increased 1.5 percent
• e-commerce growth at Walmart U.S. remained strong, led by growth through Walmart.com. Net sales and GMV increased 50 percent and 54 percent respectively
• Net sales at Walmart International were $29.5 billion, an increase of 4.1 percent. Excluding currency, net sales were $29.1 billion, an increase of 2.5 percent. Ten of eleven markets posted positive comp sales, including the company’s four largest markets

With a reported 260 million customers visiting the company’s 11,600 stores located throughout the world and e-commerce sites set up in 11 countries every week, the company's 2017 fiscal year revenue showcases an impressive $485.9 billion.

With a strong step into 2018, Deli Market News will report further strategies employed by retailers as we move towards the new year and beyond.