Adjusted EPS Financial Overview
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Gross profit rate
+36 bps, without fuel +26 bps
Rate increase primarily due to lapping elevated supply chain costs last year
LIFO expense
$48M
Operating expenses as a percentage of net sales
+47 bps, without fuel +23 bps
• Lower fuel sales negatively affected expense leverage
Without fuel, deleverage primarily due to elevated technology investments
Membership income
+6.3%
• Continued strength primarily due to Plus membership growth, acquisitions, and renewals
• Membership count and Plus penetration reached all-time highs in the quarter
Operating income
$458M, -0.4%, without fuel $354M, +5.7%
Sam's Club
Celebrating 40 years of
Member Obsession
•
LIFO reduced operating income by 10.0% y/y
Inventory
-6.0%
•
Better inventory efficiency and merchandise flow as well as a LIFO reserve adjustmentView entire presentation