Walmart Q1 General Merchandise Sales Decline18 May, 2017 By: Erik Gruenwedel
Walmart, the nation’s largest packaged-media retailer, May 18 reported a “low single-digit” decline in first-quarter (ended April 30) general merchandise sales compared with the previous-year period.
Walmart doesn’t disclose specific product category sales. Instead, the general merchandise segment includes everything from packaged-media movies, music, books, video games, toys, apparel, home appliances, sports equipment, consumer electronics, tools, etc., to seasonal.
The world’s largest retailer cited delays in consumer income tax returns and post-winter holiday markdowns, which it claimed collectively impacted higher ticket and discretionary (i.e. entertainment) spending, for the decline.
Regardless, Walmart reported operating income of $4.3 billion on revenue of $75.4 billion, which was up 0.9% and 2.9%, respectively, from the previous-year period.
Separately, Sam’s Club cited weakness in television sales for “mid single-digit” declines in technology, office and entertainment sales.