Walmart US completed the second quarter with a 20% increase in inventory, and merchants are ready to meet increased demand.
“We’re chartering vessels and procuring supplies to ensure we’re ready for the third and fourth quarters,” said John Furner, president and CEO of Walmart U.S.
During this morning’s quarterly conference call with investors, he stated that the rate of same-store sales growth increased in each month of Q2, which ended on July 31.
At Walmart U.S., the pace of general merchandise sales cooled slightly compared to last year’s stimulus-driven boom. Comp was up in the low single-digit range, with the best performance coming from apparel and travel-related categories. The company said Back-to-School sales have gotten off to a strong start. On a two-year stack, comps climbed 14.5%.
Sam’s Club sales rose 7.7% to $16.4 billion in the second quarter, with comp transactions up 5.1% and average comp ticket up 2.5%. On a two-year stack, comps jumped 21.0% at Sam’s Club. Walmart Inc. today raised its guidance for the full year. The company expects operating income to increase 11% to 13.4% from its previous estimate.
