Walmart has strong first quarter sales

Walmart Inc. had net sales of $152 billion for the first quarter of 2023, an increase of 7.6% over net sales of $140.3 billion in the first quarter of 2022. Net sales for Walmart US were $103.9 billion for the quarter, up 7.2% year over year, with comparative store sales up 7.4% (excluding fuel). Net sales for Walmart International were $26.6 billion, up 12% year over year, with growth in eCommerce sales of 25%. Gross margin for the segment expanded 12 basis points over the prior-year period. Overall consolidated net income for the first quarter was $1.67 billion, down 18.5% compared to consolidated net income of $2.05 billion in the year-ago period.