Today, November 15, the largest retailer in the United States and the world, Walmart informedwhich received total revenue of $152.8 billion in the third quarter, up 8.7 percent from a year earlier. Like-for-like sales at Walmart stores in the US alone increased by 8.2%, more than double forecasts analysts who had expected growth of only 3.5%. Walmart’s overseas store sales were $25.3 billion, up 7.1 percent from a year earlier.
Walmart CEO Doug McMillon said the third quarter was very positive for the company, thanks in part to good performance in the grocery segment and international operations. Such results allowed the company to make a positive forecast for the upcoming pre-holiday sales season, which traditionally begins in the United States after Thanksgiving Day – this year this holiday falls on November 24th. Walmart shares jumped 7.3% after the release of the report, showing record momentum since September 2020 and hitting a six-month high ($148.4 per share).
Even today, November 15, reported in the third quarter another major US retailer, Home Depot, which occupies a leading position in the market for household, home improvement and renovation goods. Net income increased 5.1% to $4.34 billion, or $4.24 per share. This is higher than analyst forecasts, interviewed Zacks Investment Research, which was expecting $4.11 a share. Home Depot’s total revenue increased 5.6% to $38.87 billion, even better than expected. After the quarterly reports were released, shares of Home Depot rose 2.5%.
