August 15, 2019
Walmart, the nation’s biggest brick-and-mortar retailer of DVDs and Blu-ray Discs, on Aug. 15 reported gains in both second-quarter earnings and revenue, with same-store sales up a healthy 2.8% and e-commerce sales in U.S. stores up 37%.
The company also raised its outlook for the full year.
“Customers are responding to the improvements we’re making, the productivity loop is working, and we’re gaining market share,” CEO Doug McMillon said in a statement.
Walmart noted that on a two-year stacked basis, same-store sales were up 7.3%, the strongest growth in more than 10 years.
Net income rose to $3.61 billion, or $1.26 per share, compared with a net loss of $861 million, or 29 cents a share, in the second quarter of 2018. Excluding one-time items, Walmart earned $1.27 a share, 5 cents more than expected.
Total revenue climbed 1.8% to $130.38 billion from $128.03 billion a year earlier, beating analyst expectations for sales of $130.11 billion.
In the United States, net sales grew 2.9% to $85.20 billion from $82.82 billion a year earlier.
The nation’s largest retailer continues to lead in DVD and Blu-ray Disc sales, devoting significant retail space to the category, including point-of-purchase displays and ubiquitous dump bins.
“We still sell a lot of DVDs at Walmart,” Thomas Hughes, EVP of worldwide TV & digital distribution at Lionsgate, told attendees Dec. 11 at the Parks Associates’ “Future of Video” confab in Marina del Rey, Calif. “We’re on the coasts, so we don’t see it. But other people still buy DVDs.”
On an Aug. 15 earnings call with analysts to discuss the latest financial results, Greg Foran, Walmart US president and CEO, said, “We saw a strong growth in grocery … and general merchandise comps. They were up despite softness from some of weather-sensitive categories like lawn and garden and apparel. We’re really pleased with market share gains across grocery and general merchandise.” The general merchandise category includes DVDs and Blu-ray Discs.