Walmart recorded better results than expected in the first three months of this year, with Americans releasing checks to boost sales.
Walmart lifted its annual exhibition on Tuesday after delivering better results than expected in the first round which showed consumers, paying U.S. government fees, wearing clothes and grass and garden items.
Retail sales opened at least a year-on-year increase by 6 percent, down from an 8.6% increase over the fourth quarter. But it rose 10% last year when Walmart turned the coronavirus into millions of people. Online sales rose by 37 percent, down from 69 percent in the fourth quarter.
“Our expectations are even higher than at the beginning of the year,” said CEO Doug McMillon. “In the US, customers are more likely to go shopping.”
McMillon said the government is encouraging funding for trade growth and there is a lot of demand because the country is emerging from the epidemic. As people move away, Walmart said the sale of cosmetics and toothpaste is on the rise as consumers pick up their masks. The company also said the trend in its stores was rising for the first time in a year.
Shares rose about 4%, or $ 5.37, to $ 144.78 on morning trading on Wall Street.
Walmart also encouraged fast and easy shipping last year and sales in its stores were boosted by many other retailers who were forced to close during closing hours. Even large-scale construction projects that Walmart has set up in recent years have been disrupted by regulations from millions of homeowners.
The company paid $ 14bn to speed up its distribution, and in February it said it would increase its hourly rate to $ 15 an hour, an increase of $ 1.
Amazon and Target have already increased their hourly payments to $ 15 for all users.
Walmart’s first quarter was $ 2.73bn, or 97 cents per share, in the last three months on April 30. That equates to $ 3.99bn, or $ 1.40 per share, a quarter ago. The adjusted profits were $ 1.69 per share. Researchers were expecting $ 1.21 per share, according to FactSet.
Sales rose 2.6 percent to $ 137.16bn. Investigators were expecting $ 132.16bn.
Walmart said it now expects profits to increase by one number; in the past, the company has shown a slight decrease in annual profits.
Walmart still faces a number of challenges. Researchers believe that enrollment in Walmart Plus, a membership program that costs retailers $ 98 per year, or $ 12.95 per month, is delayed. The retailer hopes it will compete more against Amazon’s juggernaut Prime program, released 15 years ago. Walmart Plus allows members to ship on the same day for 160,000 items, discounted oil at other gas stations and access to Walmart stores without waiting for registration.
McMillon told investigators Tuesday that the driving force behind the sales force is a retailer and retailer, and potential is a problem. He said that in the meantime his goal was to improve his experience, not his size.
On Friday, Walmart Inc said it would no longer require consumers or employees with a coronavirus vaccine to wear a mask in its U.S. stores unless government or local law says otherwise. She is offering a $ 75 bonus if she receives the vaccine.