Consolidated net sales growth for the second quarter and full year is expected to be about 7.5% and 4.5%, respectively.president and chief executive officer.īased on the current environment and the company’s outlook for the remainder of the year, it is providing the following updates to its guidance. We’re now anticipating more pressure on general merchandise in the back half however, we’re encouraged by the start we’re seeing on school supplies in Walmart U.S.” said Doug McMillon, Walmart Inc. “The increasing levels of food and fuel inflation are affecting how customers spend, and while we’ve made good progress clearing hardline categories, apparel in Walmart U.S. Customers are choosing Walmart to save money during this inflationary period, and this is reflected in the company’s continued market share gains in grocery. During the quarter, the company made progress reducing inventory, managing prices to reflect certain supply chain costs and inflation, and reducing storage costs associated with a backlog of shipping containers. This is affecting customers’ ability to spend on general merchandise categories and requiring more markdowns to move through the inventory, particularly apparel. Food inflation is double digits and higher than at the end of Q1. This is higher than previously expected with a heavier mix of food and consumables, which is negatively affecting gross margin rate.
and mix of sales.Ĭomp sales for Walmart U.S., excluding fuel, are expected to be about 6% for the second quarter.
#Walmart inventory update#
(NYSE: WMT) provided a business update today and revised its outlook for profit for the second-quarter and full-year, primarily due to pricing actions aimed to improve inventory levels at Walmart and Sam’s Club in the U.S.
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