August 17, 2021
July retail sales may have slipped due to Delta variant concerns, according to the U.S. Commerce Department, but don’t tell that to Walmart.
The world’s largest retail chain Aug. 17 reported a 5.3% increase in U.S. store revenue to $98.2 billion in the second quarter, ended July 31, compared with $93.2 billion in the previous-year period. Online sales increased 6%, and are projected to reach $75 billion by the end of the year. Overall net income fell 34% to $4.28 billion, from $6.48 billion a year earlier.
One of the nation’s largest sellers of movie DVDs and Blu-ray Discs, Walmart does not break out packaged-media sales data. The company last year sold the Vudu transactional VOD platform to Comcast-owned Fandango — the latter melding it with FandangoNow under the Vudu brand name.
“We had another strong quarter in every part of our business,” Walmart CEO Doug McMillon said in a statement. “We grew market share … we’re finding innovative ways to commercialize our data and build technology. We have a unique ecosystem of products and services designed to serve customers in broader, deeper ways.”