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Walmart Increases Forecast After Strong Q2 Sales, Membership, and Advertising Growth

Walmart’s Strong Growth in Q2 of Fiscal 2025

Walmart, the retail giant, has reported impressive growth across its business in the second quarter of its fiscal year 2025, which ended on July 26, 2024. The company’s total revenue for the quarter reached $169.3 billion, marking a 4.8% increase from the same period last year. This growth was driven by gains in ecommerce sales, membership rolls, and the Walmart Connect advertising business.

Ecommerce sales saw a significant boost, with a 21% increase in online sales globally and a 22% growth in the U.S. This surge in online sales reflects the changing consumer behavior towards digital shopping channels. Additionally, comp sales in the U.S. were up by 4.2%, indicating a strong performance in Walmart’s brick-and-mortar stores as well.

One of the key drivers of Walmart’s growth in Q2 was the increase in membership for its Walmart+ subscription service. The retailer saw a 16% rise in membership, with affluent shoppers, particularly those earning more than $100,000 annually, showing a strong interest in the program. This growth in membership has contributed to the overall revenue increase for the company.

Walmart’s retail media network, Walmart Connect, also experienced significant gains in Q2. The advertising business saw a 30% growth in the U.S., driven by an increase in advertiser counts, including marketplace sellers. Globally, the advertising business grew by 23%, with strong performances from Flipkart in India and Walmex in Mexico and Central America.

Doug McMillon, President and CEO of Walmart, highlighted the diverse growth across the company’s various business segments. He stated, „Each part of our business is growing — store and club sales are up, ecommerce is compounding as we layer on pickup and even faster growth in delivery as our speed improves. Our newer businesses like marketplace, advertising, and membership are also contributing, diversifying our profits and reinforcing the resilience of our business model.“

In an interview with CNBC, Walmart CFO John David Rainey expressed optimism about the back-to-school season, noting that it was off to a good start. He mentioned that customers are remaining discerning and value-seeking, focusing on essentials rather than discretionary items. Despite this focus on essentials, Rainey emphasized that there was no significant decline in consumer health, indicating a stable consumer sentiment.

Overall, Walmart’s strong growth in Q2 of fiscal 2025 reflects the company’s ability to adapt to changing consumer preferences and leverage its various business segments for continued success. With raised guidance for Q3 and a positive full-year outlook, Walmart is poised for continued growth and success in the retail industry.

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