Walmart Inc.: Omnichannel compounding: marketplace, advertising, and membership reinforcing each other

Walmart Inc. 2027 Q2: Financial Performance summary

• Adjusted EPS increased over 19% (with enterprise adjusted operating income up over 17% in constant currency).
• Adjusted operating income grew 17.4% in constant currency, including the benefit from tariff refunds.
• Enterprise net sales grew 5% in constant currency, at the top end of 4% to 5% guidance.
• International constant currency sales increased nearly 8%, led by 9.7% growth in China.
• Operating income growth included a net benefit of approximately 750 basis points related to tariff refunds received in Q2.
• Sam’s Club U.S. comp sales were 4.4%, led by a 7% increase in transactions and solid unit volume growth.
• Walmart U.S. delivered 3.5% net sales growth, with Walmart U.S. comp sales of 2.6% (ex fuel comp sales also 2.6%).