Walmart Sales, Comps Up in Q3; Revenue Down

Wal-Mart Stores reported increased sales of $2.7 billion in its third quarter ending Oct. 31, buoyed by a 1.5 percent boost in comp sales, along with an 8 percent increase in comps for its Neighborhood Market format.

Meanwhile, the mega-retailer posted a dip in revenue at $117.4 billion for the quarter, along with an 8.8 percent decline in consolidated operating income.

"We are pleased with the continued sales growth in Walmart U.S. and in our international business," said President/CEO Doug McMillon. "Strong traffic and our fifth consecutive quarter of positive comps in Walmart U.S. stores show we are taking the right steps to win with customers."

Walmart International, meanwhile, delivered net sales of $29.8 billion, though operating income decreased 6.4 percent.

The company said e-commerce sales and GMV globally increased approximately 10 percent, though growth was pressured by challenges in key international markets.

"Although we still have work to do, we are positioning for sustainable growth through investments in people and technology to deliver a seamless shopping experience at scale," McMillon added.

Bentonville, Ark.-based Wal-Mart Stores Inc. operates 11,554 stores under 72 banners in 28 countries and e-commerce websites in 11 countries.