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Sam’s Club also saw an increase in comparable sales, with a rise of 10.5 per cent, and membership income was up 8.6 per cent, Walmart said in a media release.
US retailer Walmart has reported a total revenue of $611.3 billion in fiscal 2023 (FY23), a 6.7 per cent increase from the previous year. The company’s US stores saw a 6.6 per cent increase in comparable sales, while e-commerce sales grew 12 per cent. However, Walmart International’s net sales were flat, and operating income declined 21.1 per cent.
In the fourth quarter (Q4) of FY23, the company’s total revenue was $164 billion, up 7.3 per cent from the previous year. Walmart US stores saw an 8.3 per cent increase in comparable sales, while e-commerce sales grew 17 per cent. Sam’s Club’s comparable sales also increased by 12.2 per cent, and membership income rose 7.1 per cent. Walmart International’s net sales were $27.6 billion, a 2.1 per cent increase, while constant currency sales were up 5.5 per cent.
Looking forward to FY24, Walmart expects consolidated net sales to increase by 2.5 per cent to 3 per cent on a constant currency basis, while Walmart US comp sales are expected to increase by 2 per cent to 2.5 per cent. Sam’s Club US comp sales are expected to increase by about 5 per cent, and Walmart International net sales are expected to increase by about 6 per cent on a constant currency basis.
Consolidated operating expenses are expected to increase slightly as a percentage of net sales on a constant currency basis, while consolidated operating income is expected to increase by approximately 3 per cent.
For Q1 of FY24, Walmart expects consolidated net sales to increase by 4.5 per cent to 5 per cent on a constant currency basis, with consolidated operating income increasing by 3.5 per cent to 4 per cent. Adjusted earnings per share are expected to be between $1.25 to $1.30.
Fibre2Fashion News Desk (DP)
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