Walmart expects 4.5% Q1 comps

Walmart is due to report fiscal first-quarter 2027 results on May 21, and analysts are looking for roughly 4.5% growth in U.S. comparable sales. The company’s investor relations site lists the earnings release for 7:00 a.m. Central time that day. Reuters said in a May 16 preview that investors are watching the report for signals on U.S. consumer spending as retailers navigate a mixed demand backdrop. The setup around the quarter is straightforward. Analysts cited in the Reuters preview expect e-commerce to do much of the work, with online sales projected to rise by more than 25% even as store traffic softens. Walmart’s national store base remains central to that thesis because the company says about 90% of the U.S. population lives within 10 miles of a Walmart or Sam’s Club location. (stock.walmart.com) ### Why are analysts focused on 4.5% comparable-sales growth? A 4.5% U.S. comp number would match the comparable-sales growth Walmart posted in the year-earlier first quarter. In Walmart’s Q1 fiscal 2026 earnings release, the company said Walmart U.S. comp sales rose 4.5%, excluding fuel, for the 13 weeks ended May 2, 2025. That prior quarter gives investors a recent benchmark for what steady demand looks like in the chain’s largest division. (corporate.walmart.com) Consensus expectations also imply that Walmart is still growing faster than many large retailers despite a tougher comparison base. MarketBeat and Zacks both list Walmart’s next earnings report for May 21, with consensus earnings estimates around the mid-60-cents-per-share range, though those services are secondary aggregators rather than company filings. (corporate.walmart.com) ### What is supposed to drive the quarter if store traffic is softer? E-commerce is the main variable. Walmart said in its first-quarter fiscal 2026 release that global e-commerce sales rose 22%, helped by store-fulfilled pickup and delivery and marketplace growth. Analysts in the May 16 Reuters preview projected growth above 25% this time, pointing to the company’s ability to use stores as fulfillment hubs rather than relying only on warehouse networks. (marketbeat.com) The store network matters because delivery speed and pickup convenience depend on proximity. Walmart says 5,200 stores and clubs are within 10 miles of about 90% of the U.S. population. That footprint gives the company a large installed base for same-day delivery, curbside pickup and online order fulfillment. ### How much does last year’s quarter tell investors? (corporate.walmart.com) May 15, 2025 offers the closest company-reported reference point. Walmart said then that first-quarter revenue rose 2.5% to $165.6 billion and adjusted earnings per share were 61 cents, while Walmart U.S. comp sales increased 4.5%. The company also said global e-commerce sales grew 22% in that quarter. (corporate.walmart.com) Doug McMillon, Walmart’s chief executive, said in that release that the company was “serving customers and members in more ways,” which he said was fueling growth. The company kept its fiscal 2026 full-year outlook unchanged at that time and projected second-quarter net sales growth of 3.5% to 4.5% in constant currency. (corporate.walmart.com) ### What will investors look for beyond the headline comp number? U.S. e-commerce growth, transaction trends and any management comments on consumer behavior are likely to draw the most attention. Reuters said the report will be watched for signals about spending patterns, and Walmart’s scale gives its results unusual weight in that discussion because of its broad grocery and general merchandise exposure. (corporate.walmart.com) A second focus will be whether digital growth is coming with stable margins. Walmart’s prior disclosures tied online gains to pickup, delivery and marketplace activity, all of which can affect fulfillment costs and profitability differently. ### When does the next hard data point arrive? (stock.walmart.com) May 21 is the next key date. Walmart’s investor relations calendar says the company will release FY2027 first-quarter results at 7:00 a.m. U.S. Central time, with an earnings presentation scheduled for 8:00 a.m. That report will provide the company’s actual comparable-sales figure, e-commerce growth and management commentary for the quarter. (stock.walmart.com) (corporate.walmart.com)