- Total revenue was $115.9 billion. On a constant currency basis1, total revenue was $119.4 billion, an increase of 4.0%.
- Walmart U.S. delivered positive comp sales for the seventh consecutive quarter, up 1.0%, driven by the sixth consecutive quarter of positive traffic, up 1.5%. Neighborhood Market comp sales increased approximately 7.1%. Customer experience scores continued to improve.
- Net sales at Walmart International reached $28.1 billion. Excluding currency1, net sales were $31.6 billion, an increase of 4.3%, and operating income increased 22%.
- Globally, on a constant currency basis, e-commerce sales and GMV increased 7.0% and 7.5%, respectively.
- Operating cash flow was $6.2 billion and free cash flow1 was $4.0 billion, both higher than last year due to solid operating performance and improved working capital management
- Consolidated operating income declined 7.1%, as planned investments in people and technology, as well as currency exchange rate fluctuations impacted results. Excluding currency1, operating income decreased by 4.6%.
(Amounts in millions, except as noted)
Key Results
Walmart
| Q1 FY17 | Q1 FY16 | $ Change | % Change | |
| Revenue | $115,904 | $114,826 | $1,078 | 0.9% |
| Revenue (constant currency)1 | $119,426 | $114,826 | $4,600 | 4.0% |
| Operating income | $5,275 | $5,680 | -$405 | -7.1% |
| Operating income (constant currency)1 | $5,416 | $5,680 | -$264 | -4.6% |
Free Cash Flow |
Shareholders Returns |
||||
| Q1 FY17 | $ Change | Q1 FY17 | $ Change | ||
| Operating cash flow | $6,193 | $1,747 | Dividends | $1,573 | -0.4% |
| Capital expenditures | $2,209 | $6 | Share repurchases2 | $2,735 | 876.8% |
| Free cash flow1 | $3,984 | $1,741 | Total | $4,308 | 131.70% |
Guidance
"We are proud of the overall results in the first quarter, and there is momentum in many parts of the business. Based on our views of the global operating environment, and assuming currency exchange rates remain at current levels, we expect second quarter fiscal 2017 earnings per share to range between $0.95 and $1.08," said Brett Biggs, Wal-Mart Stores, Inc. executive vice president and CFO. "Additionally, we expect comp sales for Walmart U.S. to be about +1.0 percent, and Sam's Club, without fuel, to be slightly positive for the 13-week period ending July 29, 2016," added Biggs.
1 See additional information at the end of this release regarding non-GAAP financial measures.
2 $14.7 billion remaining of $20 billion authorization approved in October 2015. The company repurchased approximately 41 million shares in Q1 FY17.
Walmart U.S.
| Q1 FY17 | Q1 FY16 | $ Change | % Change | |
| Net sales | $73,295 | $70,245 | $3,050 | 4.3% |
| Comp sales1 | 1.0% | 1.1% | -10 bps | N/A |
| Traffic | 1.5% | 1.0% | 50 bps | N/A |
| Ticket | -0.5% | 0.1% | -60 bps | N/A |
| E-commerce | ~20 bps | ~20 bps | 0 bps | N/A |
| Operating income | $4,232 | $4,639 | -$407 | -8.8% |
Walmart International
| Q1 FY17 | Q1 FY16 | $ Change | % Change | |
| Net sales | $28,083 | $30,278 | -$2,195 | -7.2% |
| Net sales (constant currency)2 | $31,581 | $30,278 | $1,303 | 4.3% |
| Operating income | $1,164 | $1,070 | $94 | 8.8% |
| Operating income (constant currency)2 | $1,305 | $1,070 | $235 | 22.0% |
Sam's Club
| Q1 FY17 | Q1 FY16 | $ Change | % Change | |
| Net sales | $13,608 | $13,479 | $129 | 1.0% |
| Comp sales (ex. fuel) 1,2 | 0.1% | 0.4% | -30 bps | N/A |
| Traffic | -0.2% | -0.2% | 0 bps | N/A |
| Ticket | 0.3% | 0.6% | -30 bps | N/A |
| E-commerce | ~60 bps | ~40 bps | 20 bps | N/A |
| Operating income | $413 | $427 | -$14 | -3.3% |
1 13-week period ended Apr. 29, 2016, compared to 13-week period ended May 1, 2015.
2 See additional information at the end of this release regarding non-GAAP financial measures.
Wal-Mart Stores, Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere - in retail stores, online, and through their mobile devices. Each week, nearly 260 million customers and members visit our 11,527 stores under 63 banners in 28 countries and e-commerce websites in 11 countries. With fiscal year 2016 revenue of $482.1 billion, Walmart employs approximately 2.3 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting http://corporate.walmart.com on Facebook at http://facebook.com/walmart and on Twitter at http://twitter.com/walmart.
Investor Relations contact
Pauline Mohler (479) 277-0218
Media Relations contact
Randy Hargrove (800) 331-0085
Along with this press release, Walmart makes available a recorded call with executive leaders and a financial presentation to review the business results, provide strategic updates, and comment on expectations for the future. We provide that call in both audio form and in a written transcript. Details on accessing the call are as follows:
- 877-523-5612 (U.S. and Canada)
- 201-689-8483 (other countries)
- Passcode: 9256278 (Walmart)
- MP3 @ stock.walmart.com
The call is archived at stock.walmart.com.
