Walmart Reports 2.8 Percent Revenue Gain In FY 2016

Walmart reported revenue grew 2.8 percent, or $13.7 billion, to $499.4 billion in fiscal year 2016, compared with the previous year. Consolidated net sales decreased $3.6 billion, or 0.7 percent, for FY 2016 and increased $9.2 billion, or 1.9 percent, for 2015, compared with the previous fiscal year. Net sales for fiscal 2016 were adversely affected by $17.1 billion, or 3.5 percent, due to fluctuations in currency exchange rates and $1.9 billion decrease in fuel sales due to lower selling prices at the company’s Sam’s Club business. Comparable store and club sales in the US, including fuel, grew 0.3 percent and 0.5 percent in FY 2016 and 2015, respectively.