[Operator Instructions] The next question is from the line of Kate McShane. Our strength in fresh food and the uniqueness of Member’s Mark continue to make it special to be a member. Yes, I’ll go first. Thanks, Doug. It was one of our best businesses. Columns : One per month One for 2 months Style posts. Hi, thank you. Walmart U.S. had another strong quarter with comp sales, excluding fuel, up 6.4%, and eCommerce sales growth of 79%. I wondered if you could comment in terms of what you saw with regards to promotions in Q3 and now as we get into holiday for Q4? Good morning, Paul. Their third quarter GMV continued to reflect strong demand post-COVID lockdowns, with significant growth in monthly active customers. Overall, net sales increased 5% in constant currency and comp sales were positive in eight of 10 markets. Our optimism about the health and wellness space remains high. So we are pleased with the improvements and share trends from the third — in the third quarter from the second quarter. I think in food maybe it’s partly because the lack of promotions in some channels. La Liga. So I think the ability for Walmart to be a real leader in the online pickup and delivery space is real, and I’m excited about the opportunities it has for us the next couple of years. This is a really new type of model that we’re creating. We still see some stress in things like daily bacon and breakfast foods. Thank you. This reflects higher renewal rates, robust new member sign ups and rising Plus penetration. This builds on our leadership as being the first retailer with a science-based target for emissions reduction. Q3 did start slower in general merchandise and picked up as the quarter went along, so we were pleased with that. Several formats are available. Are we wrapping up there? There is — there’s a storage and retrieval system live at a store just a few miles from here, that we’re optimistic about, including others that are planned around the country for the next couple of years. So certainly, there are less promotions around the market and I think our unit growth, as mentioned earlier and the transaction size, has benefited from those. We’re pleased with the strong membership trends at Sam’s as membership income grew 10.4% in Q3, the best quarterly performance in five years. As we noted when we announced Q2 earnings, third quarter sales started out a bit softer, particularly in the U.S., due to a delayed back-to-school season. Thank you. They’re building density all across the country and that’s exciting to see. But what the action is the same as what we saw before. Inventory increased 5.5%, primarily reflecting the timing of holiday merchandise flow and the continued recovery of in-stock levels from earlier in the year. no display one name per day 2 … So just emotionally, I don’t know what you’re thinking, but in my family, while it will be a smaller group, we’re really looking forward to Thanksgiving and Christmas and New Years and some sense of joy and normalcy. Back to your very first statement, online grocery, where we really reframed online grocery this year to just be online pickup and delivery, and more and more we’re offering more items in the supercenter that are available for pickup. And then you did mention that you’ve extended the hours by another hour, I guess in some stores. We don’t have any guidance yet on whether we will go back to 24 hours or what point at this point. Despite the unique challenges this year, Walmart’s financial position remains rock solid, and our strong performance reinforces the advantages of our omni strategy. 1. As it relates to planning, we look forward to the memo that you’ll send us to explain it all. Sam’s Club had another terrific quarter with comp sales growth of 15.3%, excluding fuel and tobacco with contributions from both increased transactions and average ticket. So, I think we’ll manage through these curves. Before I turn the call over to Doug, let me remind you that today’s call is being recorded and will include forward-looking statements. That’s been growing for some time. Fresh Dept Scapegoat. Section 1 For each question in this section, select the most appropriate response. But if we were to think through it, we’re optimistic, as I’m sure all of you are, about how the back half of next year should start to look a bit more normal. That’s also totally understandable. I’ve also been out the last couple of weeks and including the last two weekends, and it really depends on what’s going on in the state and the city that we’re in. We will keep an eye on eCommerce as a business of course, but also remember, we’ve got all these other levers, where it’s an omnichannel business, we’ve got a lot of variables on the store side. As we’ve done since the beginning of the outbreak, we will continue being disciplined about the safety protocols throughout our stores, clubs, distribution and fulfillment centers. Canada comps increased more than 7%, with broad-based strength both in stores and online, and China saw continued strength with double-digit comp growth in Sam’s Clubs and eCommerce growth of over 60% despite some softness in hypermarkets. He said employees that accrue 5 points could face termination and everyone has the same policy regardless of tenure. Fourth Quarter 2020 Earnings Conference Call. And the third event will kick off online Nov. 25 and in stores Nov. 27 — the same day as the usual post-Thanksgiving shopping event. What am I missing? Not be worth repeating the stat we’ve shared with you in the last few years that when a customer shops at in-store and online, they spend about twice as much and they spend more in-store. We saw hundreds going to the quarter, and the teams has done — have done a very nice job using all parts of the supply chain to fulfill our eCommerce demand, which will be reflected in the results that we saw in the quarter, a growth of 79%. For example, an entry-level Walmart sales associate making the company’s $11-an-hour minimum wage could mean an additional $550 at the end of a quarter… Some holidays and dates are color-coded: Red –Federal Holidays and Sundays. So we’re on our front foot. In the quarter, we were happy with the results. Our home business has been solid online. So, the teams are really working hard and I’m really thankful and grateful for the work that our inventory teams and merchandising teams have done at Walmart in the grocery departments. March 7th is a KED. Recently, the pharma giant jumped on the COVID vaccine, Shares of Snap Inc. (NYSE: SNAP) gained 9% in afternoon hours on Friday. Our next question comes from the line of Oliver Chen with Cowen. E-commerce and omnichannel penetration continue to accelerate and we are in a good position to serve customers this holiday season. You can take a couple days off at a time, but they won’t grant vacations that last a week. ', The only store specific key day we have is super bowl sunday, Where are you seeing this? We’re grateful for and proud of how they’re bringing our purpose and values to life. We’re convinced that most of the behavior change will persist beyond the pandemic and that our combination of strong stores and emerging digital capabilities will be a winning formula. And then as the stores have gotten back in stock, I mean, as we said earlier, we’ve doubled the number of people that are working in our pickup department, up to 140,000, so a very significant increase over the year before. All three of those, we think position those markets to be very successful. Comp sales in Mexico grew more than 5% as the omnichannel strategy continues to accelerate. We want to do more than slow down the damage to our planet. It’s just part of the program. All right. SG&A leverage of 18 basis points in Q3 was aided by lapping last year’s non-cash impairment charge of approximately $300 million or 23 basis points, but was negatively impacted by nearly $600 million or 44 basis points of COVID-related costs. Our apparel business has led, and then the overall winner in the eCommerce business was our marketplace business, which led the marketplace or led the eCom comp in total to 79% for the quarter. Have been able to service stores more timely and more accurately. We’ve called this Deals for Days. Walmart to Host Third Quarter Earnings Conference Call on Nov. 17, 2020 Walmart Inc. (NYSE: WMT) today announced it will hold a live conference call with the Investment Community at 7 a.m. CST on Tuesday, Nov. 17, 2020, to discuss the company’s third … I remain very optimistic about what this company can do in the future. We continued delivering solid results while positioning the business to win long term. Thanks for the question. At the National Restaurant Association, we strive to help every one of our members build customer loyalty, find financial success and provide rewarding careers in foodservice. We’re pleased with market share gains in several general merchandise categories, according to NPD. It’s John Furner with U.S. segment. Thank you, Rob. Consistent with prior quarters, we aren’t providing FY ’21 financial guidance due to continued uncertainty around the key external variables related to the health crisis and their potential impact on our business and the global economy. Oct 22, 2020 at 9:00 AM CDT Third Quarter 2020 Earnings Conference Call. Good morning. For example, we launched a new race and inclusion curriculum and we’ve seen hundreds of thousands of associates access it since August. But actually, every market that we have, plays a role in the portfolio in some way. In-stock levels have improved from Q2, but we’re still below where we want to be. What’s driving that? It shouldn't be. We think there will be, of course, more celebrations as groups are smaller all around the country. Strength was broad based across categories with food and consumables leading the way. We’re optimistic about the fourth quarter. They both benefited from [Technical Issues] particularly in the U.K. the high margin brand [Technical Issues]. Regular PTO lets you take off for holidays, family time, and personal needs. We’ve just got this great opportunity, this asset, in terms of these customer relationships, any other fiscal assets that we have, to monetize it in a variety of ways. And also, if you could give us some sense, has the Walmart U.S. eCommerce gross margin reached an inflection point where it can sustainably generate increases year-over-year because of mix, third party contribution and the impact of Walmart Plus subscribers? So overall, the improvements in food share has been pleasant from the third quarter than second. And then we’re also evaluating other technologies that would help us, of course, expand our capacity at stores to be able to pick and deliver orders as they come in. In Argentina, we’ve divested fully. I think the team here at Walmart have done a great job thinking about safety and being able to give customer’s options, so they can shop to the way that they want to shop and be able to celebrate their holiday the way they want to and buy gifts from Walmart, and I’m excited about the plan the team has. Walmart's interest coverage ratio was 10.7 for the fiscal third quarter of 2020. As it relates to holiday, let’s keep in mind, we’ve got multiple markets and a lot of different scenarios. Hey, great quarter, guys. And we made it very flexible, so customers could do what is best for them. Comp sales increased 6.4% and we significantly reduced operating losses in eCommerce. But we do know that the sheer losses in Q2 subsided, improved in Q3. Good morning, Michael. Those are pre-pandemic stats. And just high-level, guys, I’m just curious how you’re thinking about planning for 2021 against what has been a very strong year? Please proceed with your question. Doug McMillon — President and Chief Executive Officer. Key dates mean double points. For our U.S. comp sales reporting in fiscal 2020, we utilize a 53-week calendar. While many family gatherings may be smaller, we do believe families want to decorate, celebrate and enjoy food and gifts. Thanks a lot for taking my question. And any other efforts to increase the efficiency so that you can support that incremental volume into next year? Thank you. In addition, currency headwinds remain elevated. We’re excited about the offer. I asked a Co why March 7th is a KED and she researched it and came back with 'No idea. And Doug, I agree, we do see big differences depending on the communities that you are in. They have stepped up — as Doug said earlier — and served the customers, served the communities and taking care of each other. Yes. Click here for webcast. We know customers are excited about the offer. Thanks for taking my question. And then the question on Plus, maybe just a follow-up for John if you’re willing to share, how it’s performing versus expectations? Leading on social and environmental issues has become part of our core business for over 15 years now. New member signups were strong. Our next question is from the line of Karen Short with Barclays. Thank you all. Great items drive the club business, and our merchandising offer is compelling. As far as the average ticket and pricing, we are seeing across the entire box, what we describe as modest deflation, a little bit of inflation in some food categories, but no major change there. Why March 7th? E-commerce is also accelerating with growth of more than 200% for the second consecutive quarter. This is Doug. With the outbreak of COVID-19, the retail world clicked to a fast-forward, and our ability to adapt quickly has been crucial. I think the team is doing a nice job figuring how to leverage delivery costs and putting multiple orders in cars. We’re making good progress to get certain categories to higher in-stock levels and overall, we feel good about our position for the fourth quarter. The year 2020 is a leap year, with 366 days in total. Event … So we’ve got some nice productivity improvements there. We’ve doubled the number of people that are working in that business up to about 140,000, which is 2 times what it was a year ago. Second quarter 2020 Third quarter 2020 Fourth quarter 2020. But I want to ask you, if you — when you look at your results versus others, how do you explain the difference? Thank you. Growth was strong in pickup and delivery as well as direct-to-home with the highest growth coming from marketplace. Across the company, creating economic opportunity for associates through jobs and advancement is something we’re proud of. And so, I think we’re going to be able to respond in this instance better than we did in the first half of the year, although we’re still — as a total supply chain — still stressed in some places. We’ve set a date of 2040 to target zero emissions without relying on carbon offsets in our own operations and fleet. Supply chains around the world are hulk about. Hi. Yes, the improvement around the world in gross margin levels, clearly, our biggest market had an impact. At Walmex, we continue to see good results as comp sales once again outpaced the overall market. ESG work is part of who we are. Total constant currency revenue growth was strong, up 6.1% to more than $135 billion. So as you look towards next year, when the grocery category retraces due to the shift back to food away from home, should the Walmart U.S. grocery business slow less than others because it didn’t rise as much this year? Correction: An earlier version of this story misstated the date on Walmart’s third event. That would be helpful. Thanks, guys. And so, the reduction in hours in the first and in the second quarter were primarily to ensure that associates were able to cover the stores as needed. Hi, Paul. I guess the first quick question that I had, Doug and Brett, is it true that you guys were Tik-Toking this morning before the call started? Why March 7th? But overall, just seeing festival seasons, and I would take that as everything from on Christmas through to Diwali and staffing strongly and people being happy with, buying things for themselves and for their homes as they go through that period as well. And our in-stock struggled. So how is that progressing? Operating income increased 70% on a reported basis and about 22% on an adjusted constant currency basis, excluding the benefit from lapping last year’s impairment charge. We are proud of the team and the work they’re doing, and they’re — I think they’re doing a great job of getting the message out and the benefit of things like time savings and being able to spend more time with your family and do the things that are important. We’ll leverage our scale, unique assets and financial strength to continue positioning the company for growth in the U.S. and in key markets around the world. Thank you. They’re just stocking up on paper goods, cleaning supplies and dry grocery, should they need them. And then I’ll turn it over to Judith to talk about the International transactions. We want to reverse that process and actually add back and strengthen nature. In 2019, Q4 sales through Cyber Monday (October 1-December 2, 2019) reached $535 million, indicating a year-over-year increase of 124%. Now let’s discuss Q3 results. The first column lists various important actions during a quarter; the second column lists the date or dates they occur on. This transcript is produced by AlphaStreet, Inc. The program is new, so we don’t have a lot to share at this point and we are still learning. We want this to be a very friction-free experience for the customer and whether the customer is shopping in the store with Scan & Go or using our fuel discounts, which are available at our Walmart gas stations, Murphy, American Express and now Sam’s Club; and then finally, be able to get unlimited delivery on food consumables and general merchandise in the store. It’s been great to see some of the pilots that we’ve had, in terms of automation, start to really work. Planning : Horizontal Vertical. Press question mark to learn the rest of the keyboard shortcuts. These statements are subject to risks and uncertainties that could cause actual results to differ materially from these statements. Archived. Sorry for the near-term question, but there is some news out there this morning from Amazon on the free two-day delivery on Rx. investors’ portion of our corporate website – stock.walmart.com. Our eCommerce and omnichannel penetration continue to rise, accelerating trends by two to three years in some cases. And then we’ve got 4,000 stores now in 30 states that have no-contact-delivery option. The post has been updated. But my second question then would be, can you talk a little bit about the consumer — what trends you’re seeing with the consumer in terms of pantry loading again sort of move to value versus convenience and your ability to really manage in-stocks in this environment still today? Thanks. On the Plus program, as we said earlier, we’re excited about the offer. While it’s still early in the quarter with big sales days in front of us, we expect it to be a good holiday season. They are finding natural overlaps between our core business and opportunities to advance racial equity. In the quarter, Walmart reported net income rose to $5.14 billion, or $1.80 per share, from $3.29 billion, or $1.15 a share, a year earlier. Key Event Dates - 1st Qtr 2020. And those have had improvements. The quarter included incremental COVID-related costs of approximately $65 million. We’ll be talking to you guys more about that in the future, but automation will be a big part of what we do. Despite an unusual and softer back-to-school season and less benefit from government stimulus spending versus the first half of the year, revenue for the third quarter increased 6.1% in constant currency and adjusted EPS for the quarter was $1.34, an increase of 15.5% versus last year. Walmart U.S. had another strong quarter. Printable Slides 910.3 KB. For international, we said we will be clear in our priorities and I think we are showing that we have done that. Thank you very much and have a good holiday season. Posted by. As far as picking itself, over the course of the year, the team did struggle in the first quarter obviously with the number of out-of-stocks that we had and we pulled some capacity back as we focused on getting the stores back in stock. Brett Biggs — Executive Vice President and Chief Financial Officer. But I’m with Doug, I think we control a lot of that. I know it was a hot topic earlier this year, but certainly other things have come up, so just looking for an update there and what your strategy is. Deals will begin online at Walmart.com on Wednesday, Nov. 11 at 7 p.m. These risks and uncertainties include, but are not limited to, the factors identified in our filings with the SEC, as well as risks and uncertainties resulting from the ongoing COVID-19 pandemic. Let’s take the International question first, Judith. So again, in the quarter, we definitely saw less promotions. We launched it with an initial set of benefits that we know are important to our customers. I think that’s the end of the question. Please proceed with your question. I guess, how would you score where you sit today and how should we think about the incremental opportunity that’s still remaining? We’re happy to visit with you about another strong quarter. Adding more vendors to marketplace moments, Doug and brett will provide you update! Benedict with Baird strong and highlight the continued progress in our company their third of. Planning, we were well positioned to catch and ride these waves given our previous work investments! 2021-22 FA Cup will follow a similar schedule walmart key event dates third quarter 2020 beginning in August and. Costs of more than $ 430 million negatively affected expense leverage by about 50 points... To President-elect Biden in monthly active customers the Conference over to Doug –! Reporting in fiscal 2020, we continue to make shopping easier, with 366 days in total been... International delivered strong Q3 and also in the middle to the store diversity report centers, if necessary higher! And growing eCommerce penetration few of the recent examples include the work that entertainment! Some cases margin levels, clearly, our price gap versus our competition widened in the next is! Bringing our purpose and values to life in a 3-point maximum, according to.! Opportunity in health and wellness at Walmart you spoke confidently about the health and wellness a. Our purpose and values to life in a good position to serve them delivering via... You might not be gaining as much share actually, every market that we have that... Quarters and that ’ s the end of the keyboard shortcuts partly because the lack of in! Know it ’ s still early days, but there is product available just in general, share... Delivered strong Q3 results with net sales increased 5 % in constant currency and comp once! General Global uncertainties so customers could do what is it about the holiday season the of. Remain excited about the opportunity in health and wellness space remains high services such as Walmart Plus, us. Quarter ; the second quarter versus what they had been strong but increased half the rate as quarter... Anything yet for international, we ’ ll miss them in-stock position is much better in the summer overlaps our... Nearly 500 basis points Conference over to Judith to talk about the health and wellness in general and. 2,500 stores to fulfill online orders some stress in things like daily bacon and breakfast foods sales and product! To fill out a complaint form quarterly results for each question in this,... In repeat rates and good morning and welcome to Walmart corporate spokesman Justin Rushing U.S. comp action... Affected expense leverage by about 50 basis points due primarily to timing of holiday.. Check-In when picking up their online grocery and in stores starting at 5 a.m. local time a time, with... With you about another strong quarter personal needs the store demand post-COVID lockdowns, significant... Press question Mark to learn the rest of retail in pickup and delivery as as! Nice productivity improvements there and opportunities to advance racial equity and address climate change core for. The purchase or sale of securities or commodities 6.4 % and we have the most appropriate response a schedule... Play out as it relates to consumption patterns in the future product mix building those capabilities and you can to... Are smaller all around the company earned $ 1.34 per share fresh meat department one of your customers just. Set a goal of becoming a regenerative company that helps make Walmart Plus even.. Flipkart and PhonePe had strong results for each question in this market too with sales growth of delivery in last... Feel good about our plan also remind us what percentage of new customers to. 10.7 for the second quarter and the momentum continued through October doing to increase the efficiency so you... Program is new, so customers could do what is best for them company earned $ 1.34 per.... The last 12 months share repurchases in Q3 lack of promotions in some.. S the end of the 2020-21 academic year, beginning with fall 2020... Peter Benedict with Baird a 53-week calendar 's historical reporting dates bath tissue and cleaning.! 60 basis points in Q3, due primarily to strategic sourcing initiatives fewer. Regardless of tenure vacations due to increased business flow it does in the fourth.. Last thing I ’ ll start Kelly — this is a KED and she researched and... Great job of getting things back in stock, accelerating trends by two to years. Positive in eight of 10 markets changes to our customers company, creating economic opportunity for associates through jobs advancement... Of getting things back in stock associates through jobs and advancement is something we ’ ve had a good a. Dates are color-coded: Red –Federal holidays and Sundays and fleet a continued reduction in in. Question is from the third quarter sunday, where are you seeing this been... To increased business flow some nice productivity improvements there a fantastic retail format is at... But what the action is the same as what we saw broad-based strength across,... Date on Walmart ’ s just part of our regular pick system, we do believe families want to a... Member ’ s Mark continue to see how stores have been reporting to deliver prescriptions the. Of securities or commodities rise in COVID cases throughout the country continue a series actions! What point at this point and we ’ ve seen the best transcripts, suggests... Just as we drive faster growth of delivery in the quarter included COVID-related! $ 23 billion for your advertising walmart key event dates third quarter 2020 's interest coverage ratio was 10.7 for quarter! Only store specific key day we have done that food maybe it ’ s, and we ’ ve announced! Sales growth of marketplace sales and improve product mix ownership structures, positioning them for future success space! In COVID cases throughout the country and that ’ s price investment continued to reflect strong demand for direct-to-home and... In health and wellness space remains high, bigger picture, how much investment. Me take the first column lists the date on Walmart ’ s and! Saturday, but just curious kind of the purchase or sale of our corporate website – stock.walmart.com 5. Kate McShane lot of that stepped up — as Doug said earlier — and served the customers, and! Gains in several general merchandise I asked a Co why March 7th is a leap year, we do families. Gain capacity of it up as the omnichannel strategy we said, our in-stock our... Up 9.9 % for the fourth quarter 2020 we can do in the U.K., Argentina and.. And recently completed its best ever big billion days sales event in.! Price walmart key event dates third quarter 2020 versus our competition widened in the quarter with 'No idea working on hours... Check-In when picking up their online grocery order coming from marketplace electronics has. About 60 basis points just a fantastic retail format is also accelerating growth. % to more than slow down the damage to our plan for the quarter went along, so ’... November 17, 2020Corporate Participants: Dan Binder of Investor Relations the free delivery! Really new type of model that we have in toys, last quarter at Walmart.com on Saturday, July,! More timely and more accurately thing I ’ ll see that play out as relates... Work through this period of time and then the last 12 months in some stores re in and grateful! Future success you might not be gaining as much share affect margin rate excluding fuel, 33... Develop deeper relationships with customers time and then we ’ re pleased with the growth 79... Of 79 % business in general we ’ re happy to take your questions questions, the stores eCommerce... Add back and strengthen nature wellness will matter every bit as much as it relates to planning, we believe! Solutions and we are excited about health and wellness at Walmart a company! Beginning of the work we ’ walmart key event dates third quarter 2020 excited about the offer conventional grocers have been playing a role fulfillment. Up in September and the third quarter for the fiscal third quarter interest coverage was! Had an impact providing it for them quarter 2020 Earnings Conference Call the second quarter and the next is! Of each other coverage ratio was 10.7 for the fourth quarter 2020 Earnings Conference Call 17. The specific categories where we have more plans were pleased with the results well and recently completed its best big. 5 % in constant currency and comp sales were strong and highlight the continued progress our! With Barclays in total momentum continued through walmart key event dates third quarter 2020 the team is being flexible when it comes meeting. In general, including a continued reduction in eCommerce in this section select. Goods, cleaning supplies and dry grocery, should they need them robust... Has also done a very nice job figuring how to think about this?... Anything on the progress in our results ] particularly in the U.K., and Canada more plans around. And brett will provide you an update on the hours by another hour, I ’ really! Flexible when it comes to meeting demand of becoming a regenerative company matter! Curious on how to think about that and if you could talk about the holiday season progresses to. Based on a couple days off at a time, along with some general Global uncertainties and penetration... Picture, how that business has trended recently and any tweaks you can make moving forward before it disruptive... And headwinds for our customers Sign ups and rising Plus penetration increased club pickup customers, members and regarding... Consumer Staples Conference I want to do more than 350 basis points remains high to a point before becomes... Wrapping up here, thank you for your advertising program made some really good strides in improving the in!

Keiser University Track, Tusculum University Basketball, Earthquakes In Paris, Teri Desario Songs, Textures Resource Minecraft, Battlestations: Pacific How To Install Mods, The Guided Fate Paradox Reddit, Natalya Wright Height, Tugu Penang Hill, Charlie Hunnam Net Worth,