Please ensure Javascript is enabled for purposes of website accessibility

Fresno City Gets Extension in Herndon 4-Story Apartment Case

2 days ago

With Major Heat Risk Forecast, This Is a Good Weekend to Stay Indoors in Fresno

2 days ago

Trump Says Intel Has Agreed to Deal for US to Take 10% Equity Stake

2 days ago

Epstein Associate Maxwell Says She Never Saw Trump Behave Inappropriately

2 days ago

Pew: US Immigrant Population Declines for First Time in Nearly 60 Years

2 days ago

Powell, Citing Jobs Risk, Opens Door to Cuts but Doesn’t Commit

3 days ago

FBI Agents Search Ex-Trump Adviser Bolton’s Home, Source Says

3 days ago

Gaza City Officially in Famine, With Hunger Spreading, Says Global Hunger Monitor

3 days ago

Gavin Newsom’s Redistricting Plan Is on Its Way to Voters. What You Need to Know

3 days ago
Another Booming Quarter for Walmart, but Sales Are Slowing
gvw_ap_news
By Associated Press
Published 5 years ago on
November 17, 2020

Share

NEW YORK — Walmart turned out another stellar quarter as the world’s largest retailer powers through a pandemic that has felled other national chains.

But sales at stores opened at least a year slowed in the three months that ended with October compared with earlier this year as the pandemic gained ground. Americans spent more per trip when they did go to Walmart, but they began cutting down on the number of visits they made.

The U.S. on Tuesday reported the slowest monthly retail sales since the spring when the pandemic seized up the economy. Shares of Walmart slipped in early trading despite huge profits.

Sales at Walmart stores opened at least a year— a key barometer for a retailer’s health — rose 6.4%. Same-stores sales jumped 9.3% during the second quarter, and 10% in first.

Third-quarter profits surged 56% and revenue hit $133.75 billion, a 5.3% increase. Both were better that Wall Street had projected. Online sales spiked nearly 80% after nearly doubling in the previous quarter.

Despite a sales slowdown before the crucial holiday season, Walmart’s expansion into online grocery is widening the gap between it and its rivals. In September it launched a membership program to deliver what people want more than ever in a pandemic as they reduce their public exposure: convenience.

“This was another strong quarter on the top and bottom line,” said CEO Doug McMillon. “We think these new customer behaviors will largely persist and we’re well positioned to serve customers,”

That Trend Continued to Manifest Itself Tuesday at Walmart, and Home Depot as Well

McMillon told analysts during a Tuesday conference call that Walmart will be better at responding to the stockpiling seen during the the spring as virus cases surged around the country. But he acknowledged that Walmart continues to struggle keeping up with demand for paper goods and cleaning supplies.

It is the ability to offer basics and more than has allowed big box stores to thrive even as thousands of retail stores and national chains suffer.

That trend continued to manifest itself Tuesday at Walmart, and Home Depot as well, which reported a 23% quarterly sales surge. At Kohl’s, a more traditional retailer, sales dropped 13.3% and it lost money.

Walmart is making further accommodations for a third wave of infections in the U.S., expanding its traditional Black Friday sale over three separate periods in November. Some of the most enticing offers are going online to encourage customers to stay at home.

Over the weekend it began counting the customers that entered its stores as it did this spring, trying to protect them and its staff from crowded aisles.

While Walmart navigates the virus at home, it is retreating further from previous international expansion efforts.

Walmart on Monday said it would sell off 85% of its Japanese supermarket subsidiary Seiyu in a deal valued at 172.5 billion ($1.6 billion). It said earlier this month it was backing out of Argentina.

Last month, Walmart announced the sale of its British supermarket chain Asda for 6.8 billion pounds ($8.8 billion), though it will keep a minority stake and a seat of the board.

RELATED TOPICS:

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

DON'T MISS

First California EV Mandates Hit Automakers This Year. Most Are Not Even Close

DON'T MISS

Fresno Police Fatally Shoot Man Armed With Knives After Standoff

DON'T MISS

Why Epstein’s Furious Grip on Washington Holds

DON'T MISS

US Envoy Meets Netanyahu on Lebanon and Syria, Israeli Officials Say

DON'T MISS

Gerry Spence, Renowned for Courtroom Victories and Unique Style, Dead at 96

DON'T MISS

Pentagon Working on Plans for Military Deployment in Chicago, Washington Post Reports

DON'T MISS

Widespread Protests Held in Australia to Support Palestinians

DON'T MISS

VP Vance Says Russia Has Made Significant Concessions Toward Ukraine Peace Deal

DON'T MISS

Israel Strikes Yemeni Capital Sanaa

DON'T MISS

Howard University President to Step Down This Month

DON'T MISS

Hollywood’s Biggest AI Debut? Las Vegas Sphere’s ‘Wizard of Oz’

UP NEXT

Hegseth Authorizes Troops in DC to Carry Weapons

UP NEXT

Texas, Florida Seek to Join Legal Challenge to Abortion Pill

UP NEXT

Wrongly Deported Migrant Abrego Released, May Be Detained Again

UP NEXT

Judge Blocks Trump From Withholding Funds From Los Angeles, Other Sanctuary Cities

UP NEXT

California Cities Lack Unified Response On Homeless Encampments

UP NEXT

Trump Crime Crackdown Deploys Troops in Washington’s Safest Sites

UP NEXT

California Voters Still Support High-Speed Rail, Even If It Never Gets Done

UP NEXT

Trump Says Intel Has Agreed to Deal for US to Take 10% Equity Stake

UP NEXT

Texas Senate Debates Redistricting Bill, Is Expected to Pass It Easily

UP NEXT

Trump: DC Mayor Bowser Must Get Act Together or Won’t Be Mayor Anymore

Gerry Spence, Renowned for Courtroom Victories and Unique Style, Dead at 96

12 hours ago

Pentagon Working on Plans for Military Deployment in Chicago, Washington Post Reports

12 hours ago

Widespread Protests Held in Australia to Support Palestinians

12 hours ago

VP Vance Says Russia Has Made Significant Concessions Toward Ukraine Peace Deal

12 hours ago

Israel Strikes Yemeni Capital Sanaa

12 hours ago

Howard University President to Step Down This Month

13 hours ago

Hollywood’s Biggest AI Debut? Las Vegas Sphere’s ‘Wizard of Oz’

13 hours ago

Fresno State Bulldogs Can’t Find Answer for Daniels in Loss at Kansas

1 day ago

Hegseth Authorizes Troops in DC to Carry Weapons

1 day ago

Texas, Florida Seek to Join Legal Challenge to Abortion Pill

2 days ago

Fresno Police Fatally Shoot Man Armed With Knives After Standoff

Fresno police officers fatally shot a 35-year-old man armed with knives Saturday afternoon after a standoff at an apartment complex, authori...

6 hours ago

Fresno police fatally shot Joseph Merical, 35, on Saturday, August 23, 2025, after a standoff at a west Fresno apartment complex. (Fresno PD)
6 hours ago

Fresno Police Fatally Shoot Man Armed With Knives After Standoff

U.S. financier Jeffrey Epstein appears in a photograph taken for the New York State Division of Criminal Justice Services' sex offender registry March 28, 2017 and obtained by Reuters July 10, 2019. New York State Division of Criminal Justice Services/Handout via REUTERS/File Photo
12 hours ago

Why Epstein’s Furious Grip on Washington Holds

U.S. Ambassador to Turkey and Special Envoy for Syria Thomas Barrack attends an interview with Reuters in Beirut, Lebanon July 22, 2025. (Reuters File)
12 hours ago

US Envoy Meets Netanyahu on Lebanon and Syria, Israeli Officials Say

Former Philippine first lady Imelda Marcos arrives at court with lawyer Gerry Spence. June 28, 1990. (Reuters File)
12 hours ago

Gerry Spence, Renowned for Courtroom Victories and Unique Style, Dead at 96

The Pentagon building is seen in Arlington, Virginia, U.S, April 6, 2023. (Reuters File)
12 hours ago

Pentagon Working on Plans for Military Deployment in Chicago, Washington Post Reports

Demonstrators hold placards as they take part in the 'Nationwide March for Palestine' protest in Sydney, Australia, August 24, 2025. REUTERS/Hollie Adams
12 hours ago

Widespread Protests Held in Australia to Support Palestinians

Firefighters work at the site of a Russian missile strike, amid Russia's attack on Ukraine, in the village of Sknyliv on the outskirts of Lviv, Ukraine August 21, 2025. (Reuters File)
12 hours ago

VP Vance Says Russia Has Made Significant Concessions Toward Ukraine Peace Deal

Smoke billows from the site of Israeli air strikes in Sanaa, Yemen August 24, 2025. REUTERS/Stringer
12 hours ago

Israel Strikes Yemeni Capital Sanaa

Search

Help continue the work that gets you the news that matters most.

Send this to a friend