Walmart’s second quarter financial report leaves a lot to analyze. The most interesting data is, without a doubt, that in just two years the online sales of the retail that generates the most employment in the world grew 103%. The number is impressive wherever you look at it.
Before the pandemic, Walmart was struggling to see how it could compete with Amazon. Now, after the passage of the hardest phase of covid-19, Internet sales of the company founded by Sam Walton are growing at rates impossible to forecast a few months ago.
On the other hand, Walmart raised its sales forecast for 2021 by beating analysts’ estimates in the second fiscal quarter that ended on July 31.
The boost in recent months came from back-to-school sales, from backpacks to clothing and footwear, after more than a year with children and adolescents under the online learning modality.
Sales in US stores between May and July in the United States, by far the company’s most relevant market, grew by 5.2%, well above previous estimates of 3.7%.
The company said it now expects sales in full year 2022 to grow 5.5%, a percentage that is above what was expected in the previous report.
Growing more than 5% from a banner year like 2021 is really a great forecast for Walmart.
According to Doug McMillon, CEO of the company, Walmart increased market share in the sales of all supermarkets in the United States and the brand grew in the advertising business around the world.
Walmart’s result anticipates other retail presentations that are also expected to be extraordinary, such as those from Target and Macy’s, which will also be released this week.
Walmart, which reported its highest online sales growth in 2020 (+ 97%) when consumers had to stay at home for fear of an excessive spread of coronavirus infections, also said that ecommerce sales for the second quarter of 2021 in the United States States increased by 6.1%.
Operating income, meanwhile, strengthened 21% to $ 7.35 billion, with earnings per share of $ 1.78.
Total income, meanwhile, increased 2.41%. In this way, Walmart had a turnover of 141 billion dollars in three months, more than the 137 billion expected.
In the release made public, McMillon said Walmart’s worldwide sales tied to e-commerce will reach $ 75 billion in 2021.