Walmart (WMT) once again impressed Wall Street, with its stock surging about 6% in early Thursday trading following a strong earnings report.
For the first quarter of fiscal 2025, the largest retailer in the U.S. reported revenue of $161.51 billion, surpassing the expected $159.58 billion. Adjusted earnings per share also exceeded expectations, coming in at $0.60 compared to the projected $0.53.
CEO Doug McMillon described the results as a "great quarter," emphasizing the company\'s commitment to saving customers both money and time.
In a call with investors, McMillon highlighted that the positive momentum was driven by an increase in units sold and transaction counts, as well as market share gains across various categories, including general merchandise. He stressed that these gains were not due to inflation.
Total U.S. same-store sales rose by 3.9% year over year, with Sam\'s Club leading the growth at 4.4%, as more Americans turned to the wholesale retailer for grocery deals. Sam\'s Club also reached record highs in member counts and plus memberships, resulting in over 13% growth in membership income.
Walmart\'s main stores saw a 3.8% increase in same-store sales, driven by more frequent customer visits, although the average ticket size remained flat. The company noted that it is gaining market share among higher-income households.
Global e-commerce sales surged by 21%, bolstered by store pickup, delivery services, and its online marketplace.
These strong results come amidst the company\'s plans to cut hundreds of jobs and request some employees to relocate to its Bentonville, Arkansas headquarters, as reported by the Wall Street Journal on Tuesday.
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