Walmart’s U.S. sales rose nearly 8% to within a rounding error of $100 billion in the fourth quarter as the retailer felt the impact of a now familiar blend of COVID-19 related factors.
The company said the number of transactions at U.S. stores declined 10.9%, but reported the dip was offset by a 21.9% increase in average transaction size, resulting in a same store sales increase, of 8.6%. E-commerce sales increased 69%, the lowest quarterly rate recorded during the past year, and was driven primarily by online grocery orders fulfilled by stores, whether for pickup or delivery. Operating income for the U.S. division increased 17.4% to $5.2 billion from $4.4 billion.
Walmart president and CEO Doug McMillon said the results marked the completion of a strong fourth quarter and fiscal year in which the company’s amazing associates stepped up to take care of customers during a busy holiday season in the midst of a pandemic.
Source: Retail Leader
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