Venus Wafers - The Original Mariner Biscut Company - Made simple - Made right
New: Mariner Organic Little Dippers® Club House & Thin Wheat. Made Simple. Made Right.
Lactose-Free Bries
Walmart's Q3 2016 Beats Expectations

Walmart's Q3 2016 Beats Expectations


BENTONVILLE, AR
Tuesday, November 17th, 2015

Walmart is continuing to build momentum in its fresh and organic pursuits as it beat expectations in the third quarter of 2016. 

Greg Foran, President and CEO, Walmart U.S.“In food, we saw our best topline results of the year, despite minimal inflation, which negatively impacted our total box comp by approximately 90 basis points,” Greg Foran, President and CEO of Walmart, U.S., said during a conference call with analysts. “Momentum from a solid Labor Day weekend continued through to Halloween.”

Walmart's stock was up 3.82% to $60.08 after the announcement of the results on Tuesday. 

Foran reiterated that grocery continues to be a key focus for the retail giant, who continued to accelerate its growth in the grocery line by adding 85 more locations to its online grocery pickup.

“We now have almost 140 locations across 25 markets that offer the customer the ability to order their groceries online and conveniently pick up at a time of their choosing,” he said, adding that while e-commerce sales and traffic were “softer than we would like.” Walmart also introduced a digital wishlist in time for the holiday shopping season.

Overall, the retailer’s e-commerce sales contributed about 15 basis points, having globally increased approximately 10% according to the report, and Foran said that, though pleased with the last quarter, it still has a ways to go.

Other financial highlights in the report included:

  • Total revenue was $117.4 billion. On a constant currency basis, total revenue was $122.4 billion, an increase of 2.8%.
  • Comp sales at Walmart U.S. were positive for the fifth consecutive quarter, up 1.5%. Traffic increased 1.7%.
  • Customer experience scores continued to strengthen. Neighborhood Market comps increased approximately 8%, with strong growth from newer stores.
  • Walmart International net sales were $29.8 billion. On a constant currency basis, sales reached $34.7 billion, led by Mexico and Canada. Operating income decreased 6.4%. On a constant currency basis, operating income increased 8.5%.

CNBC reports that currently Walmart sells food items in 11,000 retail units worldwide, with grocery and health and wellness making up about 67% of the company’s overall business.

Walmart


Venus Wafers - The Original Mariner Biscut Company - Made simple - Made rightNew: Mariner Organic Little Dippers® Club House & Thin Wheat. Made Simple. Made Right. Lactose-Free Bries

Have a new product, press release or story idea?

Let us know

In This Story


We’re proud to serve customers in more than 25 countries worldwide and are committed to helping people save money so they can live a better life.

Marin French Cheese Introduces Petite Mustard Brie

The cheesemaker's latest line extension embraces a piquant flavor trend.
View Press Release

Specialty Food Association Winter Fancy Food Show Features Innovation and Disruption

The fastest-growing segment of the food industry, specialty food, is gathering in San Francisco, California, for another great show.
View Press Release

Ithaca Cold-Crafted Closes $2.7 Million In New Growth Capital From LiDestri Food and Drink

The brand is currently available at more than 3,000 retail doors across the U.S., including Wegmans, Publix, Stop & Shop, Shoprite, and The Fresh Market.
View Press Release

Califia Farms Further Diversifies Plant-Based Offerings With Launch Of New Oatmilk Line

The plant-based beverage company deepens its commitment to craft and plant-based nutrition.
View Press Release

Dewey's Bakery Expands Product Portfolio

The company introduces its new Tiki Bar collection, which brings the excitement of the seasons to the cookie aisle.
View Press Release

Brand Spankin’ New: Cypress Grove Launches Fresh Goat Cheese Cups and “Cheeseboards for Dinner” Campaign

The Humboldt County-based cheese producer making award-winning and world-renowned cheeses since 1983, will be showcasing a new addition to its fresh goat cheese line at this year’s Winter Fancy Food Show.
View Press Release