Headquartered in Arkansas, United States of America, Walmart Inc. generated USD 572.8 billion in total revenue in the fiscal year 2022, comprising primarily USD 567.8 billion in net sales.

Table of Content

First Quarter Highlights First Quarter YoY Financial Comparison Additional Key Highlights
 

‍First Quarter Highlights

  • Globally, the company had substantial top-line growth. Total revenue increased by 2.4 %, or 2.6 % in constant currency, to $141.6 billion. Due to divestitures and currency fluctuations, growth was slowed by $5.0 billion and $0.4 billion, respectively
  • On a two-year stack, Walmart's U.S. comp sales increased by 3.0% and 9.0%, respectively. On a two-year stack, eCommerce growth was 1% or 38 %
  • On a two-year stack, Sam's Club comp sales climbed 10.2 % and 17.4 %. The revenue from membership increased by 10.5 %
  • The rise in consolidated operating expenses as a proportion of net sales was mostly due to higher wage costs in Walmart U.S

Source: Earnings Release (FY23 Q1)

 

First Quarter YOY Financial Comparison

  • Total company sales were $141.57 billion in the first quarter of 2023, compared to $138.31 billion for the same period last year
  • The expense ratio increased from 95.0% in the first quarter of 2022 to 96.2% in the same period this year
  • The Operating Income Ratio dipped down from 5.0% in Q1 2022 to 3.8% during the same period this year
  • Net Earnings Ratio declined from 2.0% in Q1 2022 to 1.5% for the same period this year

Source: Financial Information - Quarterly Results

 

Additional Key Highlights

  • Improved sales in the Apparel and Health & Beauty categories, as well as Walmart Connect's sustained contribution
  • Pickup is now available in 4,600 locations
  • More than 3,600 stores now offered same-day delivery and 75 stores were remodeled
  • Despite surpassing last year's stimulus-related sales, comp sales climbed, led by growth in the food categories
  • Fresh meat, chiller, produce & floral, and deli also performed well, as did pet goods, baby care, and laundry & home care categories
  • Due to last year's lapping stimulus and ongoing supply chain restrictions, the home was soft, somewhat offset by apparel, outdoor living, and tire strength
  • Last year's lapping stimulus hurt consumer electronics, which was largely mitigated by the strength of gift cards
  • Health care and over-the-counter medications were popular

Source: Financial Information - Quarterly Results

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