WMT · 10-Q · 2026Q2 · Full report

Supply Chain Fulfillment and Fuel Costs

Walmart Inc. · 2026-05-29 · Importance 25 · Surprise 32

Higher fuel costs within Walmart's supply chain and increased eCommerce fulfillment costs in the Sam's Club U.S. segment negatively offset gross profit improvements from merchandise mix and higher-margin businesses. The filing cites increased eCommerce fulfillment costs driven by club-fulfilled delivery as the primary reason for Sam's Club's gross margin decline, and more generally notes fuel-related impacts on gross profit for U.S. operations. These operational cost pressures are influencing gross profit rate dynamics and are tied to the expansion of omnichannel fulfillment models (store- and club-fulfilled delivery). Management is investing in omnichannel capabilities while noting the fulfillment and fuel cost trade-offs on margins.

Key facts

• Sam's Club U.S. reported higher fuel sales that positively impacted comparable sales by 2.1% for the three months ended April 30, 2026, driven by higher fuel prices and volumes. source
• Sam's Club U.S. gross profit rate decreased 26 basis points for the three months ended April 30, 2026 compared to prior year, primarily due to increased eCommerce fulfillment costs driven by club-fulfilled delivery. source