BENTONVILLE, AR - Retail grocery behemoth Walmart is showing no signs of weakness as it heads into the busy holiday season. This week, the retail giant announced it was raising its guidance for the full year, projecting a 3 percent increase in same-store sales. In addition, Walmart also reported a 43 percent increase in e-commerce sales and a 3.4 increase in comparative sales—a direct contrast to competitor Amazon’s sluggish core business growth.

“We have momentum in the business as we execute our plan and benefit from a favorable economic environment in the U.S. We’re accelerating innovation and utilizing technology to shape the future of retail. We’re making shopping at Walmart faster and easier,” said Doug McMillon, Walmart’s President and CEO. “Our associates are equipped with the tools to serve customers better than ever before, and they’re doing a great job. With the holidays approaching, customers can count on Walmart to save them money, and we’ll also provide busy families with another important gift—time back in their day.”

Many, like CNN and The Washington Post, are pointing to Walmart’s growing brick-and-mortar network and expansive online grocery services, combined with its strong job market (including rising wages and low unemployment) and rising consumer confidence, as the fuel in Walmart's tank.

According to a press release, Walmart also reported the following highlights:

• Total revenue was $124.9 billion, an increase of $1.7 billion, or 1.4%. Excluding currency², total revenue was $126.1 billion, an increase of $2.9 billion, or 2.4%
• Walmart U.S. comparative sales increased 3.4% in the period and 6.1% on a two-year stack with broad-based strength and market share gains in key categories, according to Nielsen and The NPD Group
• Walmart U.S. omnichannel progress continues as grocery pickup is now available in nearly 2,100 locations and grocery delivery is available in nearly 600 locations
• Sam's Club comp sales¹increased 3.2%³, and eCommerce sales grew 32%. Membership trends continue to improve
• Net sales at Walmart International were $28.8 billion, a decline of 2.6%. Excluding currency², net sales were $30.0 billion, an increase of 1.6%. Comp sales were positive in nine of 10 markets.
• Adjusted EPS²excludes the impact of three items:

• An unrealized loss of $0.48 on the company's equity investment in JD.com
• A charge of $0.03 for foreign currency upon finalizing the sale of a majority stake in Walmart Brazil
• A benefit of $0.01 due to an adjustment in the provisional amount related to Tax Reform

To read Walmart’s report in its entirety, click here.

Will Walmart’s accelerated growth help it level the playing field with Amazon? AndNowUKnow will continue to report.

Walmart