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Walmart U.S. Q2 comp sales1 grew 2.8% and Walmart U.S. eCommerce sales grew 37%,
Company reports Q2 FY20 GAAP EPS of $1.26; Adjusted EPS2 of $1.27, led by strength at Walmart U.S.,
Walmart raises expectations for fiscal 2020 U.S. comp sales, operating income and EPS3 

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Total revenue was $130.4 billion, an increase of $2.3 billion, or 1.8%. Excluding currency2, total revenue was $131.7 billion, an increase of $3.7 billion, or 2.9%.
 
"Our hearts continue to be with our associates in El Paso and Southaven, and we are focused on the safety of our associates and customers in all our stores and clubs.
"From a performance point of view, we're pleased with the strength we see in the business. Customers are responding to the improvements we're making, the productivity loop is working, and we're gaining market share. We're on track to exceed our original earnings expectations for the year, and that's possible because of the work our associates do every day."

Doug McMillon
President and CEO, Walmart
 
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Walmart U.S. comp sales increased on a two-year stacked basis by 7.3%, which is the strongest growth in more than 10 years. Segment operating income increased 4%, marking the fifth consecutive quarter of growth.
 
 
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Walmart U.S. eCommerce sales growth of 37% includes strong growth in online grocery.
 
 
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Sam's Club comp sales1 increased 1.2%, and eCommerce sales grew 35%. Reduced tobacco sales negatively affected comp sales by 300 basis points.
 
 
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Net sales at Walmart International were $29.1 billion, a decrease of 1.1%. Excluding currency2, net sales were $30.4 billion, an increase of 3.3%. Strength in Walmex and China were offset by softness in the U.K. and Canada.
 
 
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Operating income declined 2.9%, or 2.4% in constant currency2, which was better than planned with strong results in the U.S. businesses. As expected, the inclusion of Flipkart this quarter negatively affected profit results.
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Adjusted EPS2 excludes an unrealized loss, net of tax, of $0.01 on the company's equity investment in JD.com for the second quarter of FY20.
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FY20 adjusted EPS4 is now expected to range between a slight decrease and a slight increase compared with FY19 adjusted EPS2.
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Walmart U.S. surpassed 1,100 grocery delivery locations and has more than 2,700 pickup locations.
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The company's NextDay delivery service from Walmart.com now covers about 75% of the U.S. population.
Key results
(Amounts in billions, except as noted. Dollar and percentage changes may not recalculate due to rounding.)
 
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Q2 FY20
Q2 FY19
Change
 
 
Revenue
$130.4
$128.0
$2.3
1.8%
 
Revenue (constant currency)2
$131.7
$128.0
$3.7
2.9%
 
Operating income
$5.6
$5.8
-$0.2
-2.9%
 
Operating income (constant currency)2
$5.6
$5.8
-$0.1
-2.4%


1 13-week period ended July 26, 2019 compared to 13-week period ended July 27, 2018, and excludes fuel. See Supplemental Financial Information for additional information.
 
2 See additional information at the end of this release regarding non-GAAP financial measures.
3 Includes GAAP EPS and adjusted EPS.
4 FY20 GAAP EPS to increase significantly compared to FY19. For FY20, adjusted EPS guidance excludes an unrealized gain of $0.19, net of tax, related to the company's investment in JD.com recorded through the six months ended July 31, 2019.
NYSE: WMT
August 15, 2019
stock.walmart.com


The following information was filed by Walmart Inc. (WMT) on Thursday, August 15, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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