Walmart and Home Depot report better-than-expected quarterly results

Today, November 15, the largest retailer in the US and the world, Walmart reportedthat in the third quarter it received a total revenue of $ 152.8 billion – 8.7% more than a year earlier. Like-for-like sales at US-only Walmart stores rose 8.2%, more than double forecasts analysts who expected growth of only 3.5%. Sales of Walmart’s overseas stores were $25.3 billion, up 7.1% from a year earlier.

Walmart CEO Doug McMillon said that the third quarter was very good for the company, including due to good performance in the food segment and international operations. Such results allowed the company to make a positive forecast for the upcoming season of pre-holiday sales, which traditionally begins in the United States after Thanksgiving Day – this year this holiday falls on November 24th. Shares of Walmart jumped 7.3% after the publication of the report, showing a record dynamics since September 2020 and reaching a maximum in the last six months ($148.4 per share).

Also today, November 15, reported in the third quarter, another major US retailer, Home Depot, which occupies a leading position in the market of goods for the home, household and renovation. Net income rose 5.1% to $4.34 billion, or $4.24 per share. This is higher than analysts’ forecasts, interviewed Zacks Investment Research, who were expecting $4.11 per share. Home Depot’s total revenue rose 5.6% to $38.87 billion, also better than expected. After the publication of quarterly reports, Home Depot shares rose 2.5%.

Evgeniy Khvostik