On Thursday August 15th, Walmart reported total revenue +4.8% and U.S. comp store sales +4.2% in Q2, both better-than-expected. General merchandise sales – the biggest concern for the business in Q1 – saw a positive inflection this quarter to flat, occurring earlier than the company (and investors) expected.
We maintain the same level of optimism for Walmart’s performance in 2H24 given general merchandise trending in the right direction and a strong start to Back-to-School. The stock was up nearly 7% on the news today, and company raised guidance for FY2025.
Download Harvest Group’s full Walmart Q2 2024 Earnings recaps with takeaways for suppliers here:
