Bulletin: Walmart Inc.'s Third Quarter Exceeds Expectations; Sales Trends Should Continue In 2021

NEW YORK (S&P Global Ratings) Nov. 17, 2020--S&P Global Ratings today said that Walmart Inc.'s results for the third quarter ended Oct. 31, 2020, were strong. We expect continued robust performance for the next few quarters. Consolidated sales grew 5%, and operating income grew 22% for third-quarter 2020 compared with the same period in 2019, despite a softer back-to-school season. The company's performance benefited from sales leverage (including in the e-commerce business), fewer markdowns, and sourcing initiatives. In the U.S., Walmart's largest market, same-store sales grew 6% as the company benefited from strong demand for consumer necessities, including food, health, and wellness product categories. E-commerce sales grew 79%, propelled by growth in pickup, deliveries, and direct-to-home shipments. In other segments,

...November 17, 2020 NEW YORK (S&P Global Ratings) Nov. 17, 2020--S&P Global Ratings today said that Walmart Inc.'s results for the third quarter ended Oct. 31, 2020, were strong. We expect continued robust performance for the next few quarters. Consolidated sales grew 5%, and operating income grew 22% for third-quarter 2020 compared with the same period in 2019, despite a softer back-to-school season. The company's performance benefited from sales leverage (including in the e-commerce business), fewer markdowns, and sourcing initiatives. In the U.S., Walmart's largest market, same-store sales grew 6% as the company benefited from strong demand for consumer necessities, including food, health, and wellness product categories. E-commerce sales grew 79%, propelled by growth in pickup, deliveries, and direct-to-home shipments. In other segments, Sam's Club recorded an 11% growth in comparable sales on new member sign-ups and strong renewal rates that we attributed to the pandemic-induced recession...

Bulletin