Walmart posts $138.1B in Q1 revenue, up 3% YoY
Walmart Inc. announced on Tuesday its revenue in the first fiscal quarter reached $138.1 billion, a 3% increase compared to the same three-month period last year. Costs and expenses rose 2% to $131.4 billion. Operating income was up 32% at $6.9 billion, while net income dropped 32% to $2.7 billion. Earnings per diluted share were $0.97. Per segment, the United States business net sales advanced 5% to $93.2 billion, while operating income climbed 27% to $5.5 billion. The international unit reported an 8% decline in sales at $27.3 billion, while income jumped 48% to $1.2 billion. For Sam’s Club, the figures were $16.7 billion and $0.6 billion, up 10% and 16% respectively. “Stimulus in the US had an impact, and the second half has more uncertainty than a typical year. We anticipate continued pent-up demand throughout 2021,” President and CEO Doug McMillon said.
Macy’s Q1 net sales up to $4.7B
Macy’s Inc. unveiled on Tuesday that its net sales for the first quarter of the fiscal year stood at $4.7 billion, an increase of 56% when compared to the same period last year. For the same three-month period, the company reported its operating and net incomes at $215 million and $103 million respectively, a substantial year-over-year increase from the $4.12 billion and $3.58 billion respective operating and net losses last year. Meanwhile, Macy’s diluted earnings per share were $0.32, also up from last year when the company had a diluted loss per share of $11.53 Chairman and Chief Executive Officer of Macy’s Jeff Gennette commented on the results saying: “In our first quarter we outperformed sales expectations across all three of our brands: Macy’s, Bloomingdale’s and Bluemercury. We built on our momentum from the fourth quarter and our sales trend continued to improve throughout the first quarter. These results were driven by the positive effects of the government stimulus program and expanding vaccine rollout.” The company’s shares soared 5.43% in the premarket trading session following the positive earnings report. Nick Note: On line, off line, in line the American consumer is back…… Holy Shit Bat Man