Consumer Staples
Discount Stores
$439.05B
333K
Key insights and themes extracted from this filing
Net sales increased by 9% to $57.392 billion in Q3 2024, exceeding expectations. This growth was primarily driven by a 7% increase in comparable sales and the addition of 24 new warehouses since the end of Q3 2023.
Gross margin increased by 52 basis points to 10.84%, exceeding expectations. This improvement is partially attributed to the absence of a $298 million charge related to discontinued charter shipping activities in Q3 2023, and also to improved core merchandise category sales.
Selling, general, and administrative (SG&A) expenses as a percentage of net sales decreased by 15 basis points to 8.96%, reflecting improved operational efficiency and productivity.