×
592
Fashion Jobs
GENESTORE INDIA PRIVATE LIMITED
Area Sales Manager/ Business Development Executive-Mumbai
Permanent · Mumbai
ANAND RATHI
Cluster Head/ Area Sales Manager
Permanent · Chennai
PROPERTYXPO.COM
Area Sales Manager| Real Estate Portfolio Management | Gurgaon
Permanent · Gurugram
MAHALAKSHMI PROFILES PRIVATE LIMITED
Area Sales Manager
Permanent · Hyderabad
ARCHANGEL HR SOLUTIONS
Consultant Planning, Merchandising, Sourcing
Permanent · Chennai
KARADI PATH EDUCATION COMPANY PRIVATE LIMITED
Senior Area Sales Manager - Karadi Path Education Company
Permanent · Chennai
SENSO FOODS PRIVATE LIMITED
Area Sales Manager/sr. Sales Executive For "Corporate Sales"
Permanent · Ahmedabad
ALGOR SUPPLYCHAIN SOLUTIONS PRIVATE LIMITED
Hiring For Sales Manager in Logistic co| Hyderabad | Goa
Permanent · Bengaluru
A2V INSURANCE BROKERS PRIVATE LIMITED
Area Sales Manager
Permanent · Ludhiana
VIKRAM TEA PROCESSOR PVT LTD
Area Sales Manager
Permanent · Mumbai
BHARTI AIRTEL LIMITED
Territory Manager- Dth Sales -Namakkal
Permanent · Namakkal
ARKRAY HEALTHCARE PVT. LTD
Opening For Medical Business Manager(mr)- Delhi Chennai & Bangalore
Permanent · Chennai
PUMA
Studio Operations Manager
Permanent · Bengaluru
ELICO LIMITED
Requirement For Production Manager
Permanent · Hyderabad
FINO PAYMENTS BANK
Territory Sales Manager - Merchant & Distributor Onboarding - up
Permanent · Faizabad
FINO PAYMENTS BANK
Territory Sales Manager - Merchant & Distributor Onboarding - up
Permanent · Mahoba
ELECTRONICA FINANCE LTD
Area Sales Manager - Machinery Loan(Delhi ,Faridabad & Ghaziabad)
Permanent · Faridabad
IOTECHWORLD AVIGATION PVT LTD
Production Manager Engineer (Design & Development)
Permanent · Gurugram
CLASSIC SEARCH PVT LTD
Manager Production
Permanent · Bengaluru
CLASSIC SEARCH PVT LTD
Manager Production
Permanent · Bengaluru
SWASTIKA INVESTMART LTD
Opening For Branch Manager/Area Sales Manager
Permanent · Raipur
PARAISO REALTY PVT LTD
Sales Manager /Associate / Senior Associate - Real Estate Sales
Permanent · Lucknow
By
Reuters
Published
Nov 17, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Walmart beats profit estimates on buoyant online sales

By
Reuters
Published
Nov 17, 2020

Walmart Inc posted a bigger-than-expected increase in quarterly same-store sales and beat expectations for profit on Tuesday amid a 79% surge in its online business with overall rises in spending on electronics, sporting goods and groceries.




Sales at U.S. stores open at least a year rose 6.4%, excluding fuel, in the third quarter ended Oct. 31. Analysts had estimated an increase of 4.16%, according to IBES data from Refinitiv.

The surge in demand for essentials at Walmart seen at the peak of the coronavirus lockdowns has carried into the second half of the year, with consumers relying on its same-day delivery options and store pick-up services to buy everything from groceries to sneakers.

“We think these new customer behaviors will largely persist and we’re well positioned to serve customers with the value and experience they’re looking for,” Chief Executive Officer Doug McMillon said in a statement.

The COVID-19 pandemic has also forced retailers to drastically rethink how they do business during the key holiday season, with many big retailers including Walmart, Kohl's, Target and Best Buy moving their promotions up to as early as October.

Despite a slow start to the back-to-school shopping season, which typically begins in July, Walmart said it benefited later in the quarter from the delayed start.

Walmart said on Tuesday it incurred about $600 million in additional COVID-19 expenses that included higher wages for warehouse workers and bonuses for store employees, as well as spending more on keeping its facilities clean. The retailer had recorded about $1.5 billion in such expenses in the prior quarter.

Operating income jumped 22.5% to $5.79 billion in the third quarter, while Walmart reported adjusted earnings per share of $1.34 that topped expectations for $1.18.

Total revenue rose 5.2% to $134.71 billion, beating estimates for $132.23 billion.

Shares of the company were up marginally at $153.25 in premarket trading. They have risen 28% so far this year.
 

© Thomson Reuters 2021 All rights reserved.