American retailer Walmart's revenue surges 6% to $648.1 bn in FY24

The company's return on assets (ROA) stood at 6.6 per cent, with a return on investment (ROI) of 15 per cent, up by 230 basis points. Earnings per share (EPS) on a GAAP basis reached $5.74, with adjusted EPS climbing to $6.65, the company said in a press release.

Walmart's US operations remained a key growth driver, with comparable (comp) sales growth (excluding fuel) at 5.6 per cent and net sales increasing from $420.6 billion in FY23 to $441.8 billion in FY24. Sam's Club also reported positive results, with comp sales growth of 4.8 per cent and net sales growth from $84.3 billion to $86.2 billion.

Internationally, Walmart continued to expand, with a 10.6 per cent increase in net sales growth on a constant currency basis, bringing its total to $111.7 billion. The period also saw Flipkart's Big Billion Days achieving a record 1.4 billion customer visits.

For the fourth quarter of fiscal 2024 (Q4 FY24), Walmart reported consolidated revenue of $173.4 billion, up 5.7 per cent, or 4.9 per cent in constant currency. The quarter benefited from a consolidated gross margin rate increase of 39 basis points, largely due to improvements in Walmart US operations. Operating income for the quarter rose by $1.7 billion or 30.4 per cent, with adjusted operating income up 13.2 per cent, positively impacted by currency and LIFO adjustments.

Global e-commerce sales surged by 23 per cent, and the adjusted EPS for the quarter stood at $1.80, excluding net gains from equity and other investments.

In the US, comp sales growth (excluding fuel) was 4 per cent, with net sales rising from $113.7 billion in Q4 FY23 to $117.6 billion in Q4 FY24. Sam's Club and Walmart International also posted growth in both comp sales and net sales, with Walmart International achieving a 13 per cent increase in net sales growth on a constant currency basis in the fourth quarter.

"Our team delivered a great quarter, finishing off a strong year. We crossed $100 billion in e-commerce sales and drove share gains as our customer experience metrics improved, even during our highest volume days leading up to the holidays. We’re proud of the team and excited about building on our momentum as we work to bring prices down for our customers and members," said Doug McMillon president and CEO, Walmart.

Fibre2Fashion News Desk (DP)