Large US-based retailer, Walmart (WMT) is having a field day with its latest earnings that saw it post a 4% year-on-year rise in revenues for Q3 2021, reaching $140.5b — with its online sales being 87% up compared to two years ago.
The company’s strong sales beat Wall Street expectations, despite the recent supply-chain disruptions that have been plaguing retailers and businesses across the US. Walmart’s thought well in advance as reports are that it’s been negotiating with manufacturers and bulking up inventory for a while now to avoid delays. Its inventory in the US is 11.5% higher than usual, which will come in handy in the next few months as the holiday season kicks in around Christmas and the New Year.
why it matters
As inflation across the US hits a three-decade high, low-priced retailers like Walmart become a consumer favorite. Walmart stock has been up by 2.4% over the past six months.