We are well positioned to start this fiscal year," Walmart Chairman and CEO Doug McMillon said in a statement.įor its part, Home Depot has not been able to increase its sales at a rate that approaches inflation. In the third quarter we gained momentum and continue to do so. The team has had a good quarter to end the year and, as our results for the last two quarters demonstrate, have moved quickly and aggressively to address the inventory and cost challenges we faced last year. Sales have grown by 8.3% thanks to an increase in the average ticket of 6.3% and an increase of 1.8% in transactions.ĭecember 2022 has been the month with the highest sales volume in Walmart history. The US market concentrates most of Walmart's business. On the other hand, the slack demand in clothing and household items has led to more aggressive sales and discounts. On the one hand, food products are sold with lower margins and by increasing their weight in the total, they weigh down that measure. That sales shift has eroded margins in two ways. The company points out toys, electronics, home and clothing as some of the most penalized sections. Walmart has been attracting customers looking to save a little on the shopping cart.īut if more money goes to food, less remains for the rest.
In food, the price increases and the increase in volumes add up. While food sales soar above 15%, those in consumer discretionary categories fall around 5%. Walmart's accounts show by themselves the changes that inflation is generating in the consumption habits of Americans, harassed by price increases.
In the first quarter of the year it still expects to increase sales at a rate of 4.5%-5%, but for the year as a whole it will stand at 2.5%-3%, according to their forecasts. Walmart, however, expects growth to moderate throughout 2023. However, in the fourth quarter it has grown by 76%, to 6,275 million, according to the figures communicated by the company to the United States Securities and Exchange Commission (SEC). The inventory adjustments and the increase in costs in the first quarters of the year, together with the poor results of the international division, have caused profit to fall by 14.6% in the year as a whole, to 11,680 million dollars. The group is attracting higher-income consumers who flock to its competitive prices in a context of high inflation. In the fourth quarter, the company has accelerated and has billed 164,000 million dollars, 7.3% more. The American giant Walmart closed last year with a turnover of 611,289 million dollars (about 574,000 million dollars at the current exchange rate) after growing by 6.7%. The world leader in distribution is becoming more and more of a leader.
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