Walmart is Starting to Beat Amazon At its Own Game




Things are picking up for Walmart’s eCommerce division. Walmart revealed its online sales increased by 27 percent in the first quarter of 2023, while total revenue grew 7.6 percent year over year in the United States. Total sales tallied in at $152.3 billion. International sales also saw significant increases reported to have seen 25 percent growth for online sales and 12.9 percent growth totaling $26.8 in net sales.

Walmart’s growth in online sales have to give some credit to Walmart’s pickup services, which are included in the eCommerce sales total. The retail giant offers grocery pickup and/or delivery options at most of its locations which has attracted a lot of online orders. Consolidated operating income was up 17.3 percent to $0.9 billion. Walmart-owned Sam’s Club comp sales showed the 7.0 percent growth was led by food and consumables. 

This all comes as Walmart is looking for ways to take market share from Amazon.

CEO and Chairman of Walmart, Doug McMillion was pleased with the first quarter results, saying:

“We had a strong quarter. [Composite] sales were strong globally with eCommerce up 26%. We leveraged expenses, expanded operating margin, and grew profit ahead of sales. And a big thank you to our associates, who continue to step up and deliver for customers and members whenever and however they want to be served.”

However, the first quarter report also detailed “consolidate gross margin rate declines 18 basis points on a mix of sales” and “consolidated operating expenses as a percentage of net sales down 58 basis points.” Still, Walmart shares went up 2 percent in early trading on Wall Street. 

“It’s a great time to be a merchant. We continue to gain market share in the grocery category, including with higher income and younger shoppers, and we saw good growth in membership income in both businesses,” Walmart CEO Doug McMillon told analysts on a conference call.

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