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Industry NewsWalmart Q3: Grocery, health & wellness lead sales growth

Walmart Q3: Grocery, health & wellness lead sales growth

Walmart reported strong fiscal third quarter earnings with revenue up 5.2 per cent to $160.8 billion, but sounded a note of caution, as consumer spending weakened at the end of the reporting period. Grocery and health and wellness led sales growth, with general merchandise sales declining modestly.

“We had strong revenue growth across segments for the quarter, and we’re excited to get an early start to the holiday season,” said Doug McMillon President and CEO, Walmart. “Looking ahead, our inventory is in good shape, the teams are focused, and our associates are ready to serve our customers and members whenever and however they want to be served.”

The revenue numbers beat analyst expectations, and Walmart increased its net sales guidance for fiscal 2025 to between 5 per cent and 5.5 per cent. It also raised its outlook for earnings per share of $6.40 to $6.48 for the year.

Walmart International, which includes the Walmart Canada business, reported net sales of $26.7 billion, up 5.4 per cent in constant currency. Walmex, the retailer’s Mexican and Central American Walmart division, and China, led the growth.

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