Consumer online shopping surged 37% and grocery orders increased, the main reason for Wal-Mart’s first-quarter sales growth of 6% and operating profit growth of 26.8%.
According to the company’s news release, strong earnings reports have helped retailers raise their outlook for both the second quarter and the full year.
The financial highlights are:
- Consolidated operating income was strong company-wide, up 32.3% to $ 6.9 billion.
- US e-commerce sales grew 37%, performing well across all channels and contributing approximately 360 basis points to corporate sales. Sales have more than doubled in the last two years.
- Total revenue was $ 138.3 billion, an increase of $ 3.7 billion, or 2.7%.
“This quarter was a good quarter. All segments were strong. We were encouraged by trends in traffic and grocery market share. Our optimism is higher than at the beginning of the year. In the United States, Customers clearly want to go out. We are in a strong position as the store environment continues to improve and e-commerce continues to grow. Due to the impact of economic stimulus in the United States, the second half is more uncertain than usual. There is sex. Continued demand is expected throughout 2021. Our results reflect the continued efforts and commitments our employees have shown throughout the pandemic and others. We are grateful to them for helping them serve and provide vaccines, “said Doug McMillon, President and CEO of Walmart, in a release.
https://www.retailcustomerexperience.com/news/groceries-online-shopping-drive-walmart-q1-sales-boost/ Grocery and online shopping boost Wal-Mart’s first-quarter sales