Wal-Mart Stores’ (WMT) Q1 2018

posted in: Earnings Call, Notes | 0

Brett Biggs – EVP and CFO

Comp inventory down

“our sales strengthened as the quarter progressed, delivering comp sales growth of 1.4%, led by an increase in customer traffic of 1.5%. This marks the 10th consecutive quarter of positive comp traffic…During the quarter, inventory at comp stores fell 7.3%, while in-stock levels remained high…For the 13-week period ending July 28, 2017, we expect comp sales to increase between 1.5% and 2%. “

E-commerce is growing

“The U.S. e-commerce GMV growth accelerated significantly, up approximately 69%. Through the lens of strong, efficient growth, I’m pleased with the results. Gross profit margin increased 1 basis point during the quarter. The rate for Walmart U.S. was flat, while Walmart International was up slightly.”