Walmart saw an uptick in its total revenue in the first quarter of 2021 compared to the same period last year.
In the first quarter, Walmart pulled in $138.3 billion in 2021. This was an increase of $3.7 billion or 2.7 percent over last year.
Within Walmart U.S., comp sales increased 6 percent, while Sam’s Club comp sales increased 7.2 percent. The most dramatic increase in sales was on Walmart’s e-commerce platforms with a growth of 37 percent in the first quarter. According to Walmart’s financial report, e-commerce contributed roughly 360 basis points to its comp sales.
The Bentonville retailer did see a drop in its international division, posting a decline of 8.3 percent or $2.5 billion to $27.3 billion in net sales. Walmart attributed the net sales decline to “recent divestures,” which had a $4.2 billion impact. However, its international ecommerce sales increased by 49 percent.
“This was a strong quarter. Every segment performed well, and we’re encouraged by traffic and grocery market share trends. Our optimism is higher than it was at the beginning of the year. In the U.S., customers clearly want to get out and shop. We have a strong position as our store environment improves and eCommerce continues to grow. Stimulus in the U.S. had an impact, and the second half has more uncertainty than a typical year. We anticipate continued pent-up demand throughout 2021. Our results reflect the continued hard work and commitment our associates have shown throughout the pandemic – serving others and helping provide vaccines – and we’re grateful to them,” Walmart president and CEO Doug McMillon said in a statement.
The financial report boosted Walmart’s stock price, which reached a high of $144.58 per share after opening at $143.51. By the market’s close, the price had settled to $141.91 per share, still a $3.02 increase in share value.