Hardware Retailing The Industry's Source for Insights and Information
Walmart recently released its financial results for the first quarter of 2025.
Net sales for the quarter reached $108.7 billion, led by growth in the health and wellness and grocery categories.
Walmart reported an increase of 4.5% in comparable store sales, citing growth in the e-commerce category. The company also reported diluted earnings per share of $0.56 and a gross margin increase of 12 basis points.
“We delivered a solid first quarter in a dynamic operating environment,” says Doug McMillon, Walmart president and CEO. “We’re serving customers and members in more ways, which is fueling our growth. We’re well positioned, maintaining flexibility to navigate the near-term while continuing to invest to create value for the long-term.”
Walmart also released its guidance for the second quarter of 2025. Net sales in Q2 2025 are expected to increase 3.5% to 4.5%, with the company’s outlook for the fiscal year 2026 remaining unchanged from prior guidance:
- Net sales to increase by 3.0% to 4.0%
- Adjusted earnings per share to reach $2.50 to $2.60
“Given the dynamic nature of the backdrop, and the range of near-term outcomes being exceedingly wide and difficult to predict, we felt it best to hold from providing a specific range of guidance for operating income growth and EPS for the second quarter,” says John David Rainey, Walmart Inc. executive vice president and chief financial officer. “With a longer view into the full year, we believe we can navigate well and achieve our full year guidance.”
During the Walmart Q1 2025 earnings call, McMillon noted that over two-thirds of Walmart products are either made, assembled and grown in the U.S. He also emphasized the support Walmart has given U.S. small businesses through the Grow With US training program, launched earlier this month.
The impact of recent tariff activity was also mentioned on the call, noting the possibility of large financial swings as the year progresses.
“We’re encouraged by the recent trade negotiations especially concerning China,” says Rainey. “The level of tariffs that result from those discussions and the timing of when they ultimately become final may cause larger swings in our financial performance from one quarter to the next.”
