Walmart U.S. drives 3.1% gain in net Q2 sales

BENTONVILLE, Ark. - Walmart U.S. on Thursday posted a 3.1% lift in net sales for its second quarter ended July 29 to $76.2 billion and delivered positive comp sales for the eighth consecutive quarter, up 1.6%, along with the seventh consecutive quarter of positive traffic, which was up 1.2%.



Net sales at Sam's Club for the period were down 1.3% to $14.5 billion with a slight 0.6% gain in comparable sales (excluding fuel) and a slight 0.4% decline in overall traffic. Net sales, without fuel, grew by 0.4%, Walmart reported.



Overall, Walmart realized a 0.5% increase in second-quarter sales to $120.9 billion.



"We're pleased with the positive momentum in our business," stated Doug McMillon, Walmart president and CEO. "Our strategy in the U.S. is working," he said. "We remain focused on building e-commerce capabilities globally and executing our omni-channel plan, as evidenced by our recent alliance with JD.com in China and agreement to acquire Jet.com in the U.S."

With the Jet.com acquisition, current Jet.com president and CEO Marc Lore will join Walmart as president and CEO of e-commerce, reporting to McMillon.



The U.S. results were primarily due to the continued roll out of online grocery and growth of pick-up in stores and clubs, McMillon noted. "We continue to see proof that our customers enjoy a seamless shopping experience," he said. "The distinctions that we talk about today between stores, apps, pick-up, delivery and sites are continuing to blur into the background for customers. For them, it’s just Walmart."



At Sam’s Club, comp sales for the period were slightly above Walmart expectations, McMillon said. "Membership performance was the highlight, and there is quite a bit of innovation underway at Sam’s related to the member experience," he noted. "Earlier this year we launched a test of Scan and Go, a mobile checkout and payment solution, which lets members skip the checkout line. We’re pleased with the adoption of this service, and we expect to roll this out nationwide later this year."