Walmart Net Rises 9 Percent in Third Quarter

BENTONVILLE, Ark.-Net income for Walmart rose 9 percent to $3.4 billion in the third quarter ending Oct. 31.

The world's largest retailer was able to accomplish this even though net sales gained just 2.6 percent, to $101.2 billion. Mike Duke, president and chief executive officer, said the company has now delivered four consecutive quarters of "operating expense leverage" to continually improve the bottom line. Operating, selling, general and administrative expenses rose 2.1 percent on a dollar basis, and declined 10 basis points as a percentage of net sales to 20.2 percent. Gross margin was relatively flat at 25 percent.

Much of Walmart's sales increase came from its international locations, whose sales rose 9.3 percent in the third quarter. Duke also said Sam's Club delivered a solid quarter, and that the company as a whole should have a healthy holiday season. Sales at Walmart's U.S. locations slipped by 0.1 percent.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Videos

  • Von Tobel Cites Brass Textures Among Top Trends

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN cover for September 2017

    HFN's DIGITAL EDITION

    September 2017


    COVER STORY:

    2017 State of the Industry Report
    Cautious Optimism, Mixed Results

    Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.


    ALSO IN THIS ISSUE:

    •  TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
    •   Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
    •  N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.