Strong Profit Boost for Walmart
The American department store giant Walmart reports another strong quarter with increased sales and profit.
Despite increased costs, in the form of higher salaries for, for example, warehouse staff and bonuses for store employees as well as cleaning costs, operating revenues increased by 22.5 percent to $ 5.8 billion.
Total revenue increased 5.2 percent to $ 134.7 billion during the quarter compared to the same period last year.
Net profit rose 56.2 percent to $ 5.1 billion.
Sales in comparable stores, excluding fuel sales, increased 6.4 percent during the quarter ended October 31. Analysts had expected an increase of 4.2 percent, according to Refinitiv.
The department store giant’s e-commerce rose 79 percent during the period.
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