BENTONVILLE, Ark. — Walmart reported better-than-expected comparable store sales gains in the third quarter.
Walmart’s third quarter also include a strong performance by its online business, with net e-commerce sales increasing 50% in the quarter.
“We are pleased with the strong results in the quarter across each of our business segments,” Walmart president and chief executive officer Doug McMillon said. “We have momentum, and it’s encouraging to see customers responding to our store and e-commerce initiatives.”
Walmart reported total revenue of $123.2 billion for the quarter ended October 31. That is an increase of $5 billion, or about 4.2%. Excluding currency changes, total revenue came in at $122.7 billion, an increase of $4.5 billion, or 3.8%.
Comparable store sales increased 2.7% at Walmart U.S., and comp traffic increased by 1.5%.
Walmart International recorded net sales of $29.5 billion, up 4.1% over the prior year period. Excluding currency changes, net sales were $29.1 billion, up 2.5%. Walmart said that it saw positive comp store sales in 10 of the 11 international markets in which it operates, including the four largest markets.
Walmart reported a decline in operating income for the quarter, due in part to accelerated investments in its e-commerce capabilities. Operating income for the quarter was $4.76 billion, down 6.9% versus the third quarter last year.