Despite ongoing global supply chain issues, Walmart beat analyst expectations in its third quarter, fiscal 2022, reporting comp sales growth of 9.2 per cent in the U.S. (excluding fuel), but saw net sales of $23.6 billion decline by $5.9 billion or 20.1 per cent in its international businesses.
Walmart says total revenue of $149.5 billion, while up 4.3 per cent, was negatively affected by $9.4 billion related to divestitures.
“Our momentum continues with strong sales and profit growth globally. Our omnichannel focus is pushing digital penetration to record levels. We gained market share in grocery in the U.S., and more customers and members are returning to our stores and clubs around the world. Looking ahead, we have the people, the products, and the prices to deliver a great holiday season for our customers and members,” stated Doug McMillon, president and CEO, Walmart.