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Walmart's Doug McMillon Comments on Strong Top-Line Growth in Second Quarter Financial Report

Walmart's Doug McMillon Comments on Strong Top-Line Growth in Second Quarter Financial Report


BENTONVILLE, AR
Wednesday, August 24th, 2022

Second quarter results are coming down the pike, and we recently received word of Walmart's report. The retailer outlined impressive financial gains in its release, most notably pointing to an increase in revenue by 8.4 percent, amounting to $11.8 billion.

Doug McMillon, President and Chief Executive Officer, Walmart“We’re pleased to see more customers choosing Walmart during this inflationary period, and we’re working hard to support them as they prioritize their spending. The actions we’ve taken to improve inventory levels in the U.S., along with a heavier mix of sales in grocery, put pressure on profit margin for Q2 and our outlook for the year,” Doug McMillon President and Chief Executive Officer. “We made good progress throughout the quarter operationally to improve costs in our supply chain, and that work is ongoing. We continue to build on our strategy to expand our digital businesses, including the continued strength we see in our international markets.”

In the report, the company noted it delivered top-line growth globally, partially driven by inflation. For its Q2 FY23, Walmart saw $152.9 billion in revenue, up 8.4 percent from $141.0 in Q2 FY22, or 9.1 percent in constant currency.

Walmart revealed an 8.4 percent increase in its Q2 FY23 results, detailing an $11.8 billion gain to reach $152.9 billion in revenue

Sam’s Club comp sales increased 9.5 percent, and membership income increased 8.9 percent with member count at an all-time high.

To glean more insights on this growth, click here.

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