Walmart Reveals Increased Market Share in Second Quarter Financial Report; CEO Doug McMillon Discusses
BENTONVILLE, AR - Continuing to boost its presence in the retail sector, Walmart is clocking growth across all channels, revealing impressive success as it looks to expand its market share and bolster its prowess in the e-commerce space. The retailer recently released its second quarter earnings for the 2022 fiscal year, pulling back the curtain on billion-dollar operational growth.
“We had another strong quarter in every part of our business. Our global e-commerce sales are on track to reach $75 billion by the end of the year, further strengthening our position as a leader in omnichannel,” explained Chief Executive Officer Doug McMillon. “We grew market share in U.S. grocery, added thousands of new sellers to our marketplace, rapidly grew advertising businesses around the world, and we’re finding innovative ways to commercialize our data and build technology. We have a unique ecosystem of products and services designed to serve customers in broader, deeper ways, and we’re grateful to our associates for making it all happen.”
The report revealed significant growth in the retailer’s grocery market share, detailing that transactions were strong at 6.1 percent led by stores, as well as substantial growth in e-commerce, with sales growing by 6 percent.
Other highlights from the second quarter financial report include:
- Total revenue was $141.0 billion
- Walmart U.S. operating income increased 20.4 percent; adjusted operating income increased 12.0 percent
- Sam’s Club comp sales increased 7.7 percent, and its e-commerce sales grew 27 percent
- Walmart International net sales were $23.0 billion
- Consolidated operating income was $7.4 billion, an increase of 21.4 percent, with strength across the company
As it continues to experience omnichannel growth, the retailer anticipates global e-commerce sales to reach $75 billion.
AndNowUKnow will keep a pulse on the newswire as we await more exciting updates from within the retail sector.