Bentonville, Ark. – General merchandise comp at Wal-Mart U.S. rose in the low single digits during the third quarter, with unit growth showing particular strength in home, toys and some hardlines categories.
The trend was more pronounced for Walmart’s online marketplace, where expanded assortments resulted in more than 20% sales gains in all three categories.
And Walmart continues to widen its customer base.
“Households earning more than $100,000 made up 75% of our share gains,” Walmart Inc. CEO Doug McMillion said during this morning’s earnings call.
At Walmart U.S., total net sales rose 5.0% to $114.9 billion. Consolidated comp, excluding fuel, rose 5.3%, driven by growth in transactions and unit volumes across both stores and e-commerce channels. Average transactions were up 3.1% and average ticket rose 2.1%.
Home is still lagging at Sam’s Club U.S. The warehouse club’s Home + Apparel segment saw a negative comp in the low single-digit range, with softness in seasonal and furniture partially offset by strength in apparel and toys.
Sam’s total net sales, excluding fuel, jumped 7.2% to $20.3 billion. Comp sales, excluding fuel, were up 7.0% as transactions climbed 6.4%. Average ticket rose just 0.5%.
For the overall company, however, Q3 beat expectations – leading Walmart to raise its full-year guidance today.
The company now expects total net sales growth for the year of 4.9% to 5.1%. Previously, it forecast full-year growth in the 3.75% to 4.75% range.
During Q3, Walmart Inc. generated consolidated revenue of $169.6 billion, up 5.5%. Global e-commerce sales grew 27%, led by store fulfilled pickup & delivery and marketplace. The company’s global advertising business grew 28%, including 26% for Walmart Connect in the U.S