The headline sales number was solid, but the key investor metric came in below expectations. June net sales rose 10.6% year over year to $29.24 billion, but total comparable sales increased 8.8% versus a published 10.6% forecast.
| Metric | June 2026 | Comparison | Source |
|---|---|---|---|
| Net sales | $29.24B | +10.6% vs. $26.44B last year | (News release) |
| Total comparable sales | +8.8% | +5.8% last year; below 10.6% published forecast | (Comparable sales table) |
| Core comparable sales, excluding gasoline and foreign exchange | +7.0% | In line with published forecast; +6.2% last year | (Comparable sales excluding gasoline and foreign exchange table) |
| Digitally enabled comparable sales | +20.9% | +21.5% for the first 44 weeks | (Comparable sales table) |
| First 44 weeks net sales | $250.43B | +10.1% vs. $227.46B last year | (News release) |
| Quarterly dividend | $1.47/share | Payable August 7, 2026 | (Dividend announcement) |
The miss was concentrated in the reported comp headline, not the underlying merchandise trend. Excluding gasoline and foreign-exchange effects, companywide comparable sales rose 7.0%, matching the published forecast, while reported comps benefited from those factors. That makes the result less damaging operationally than the headline miss suggests, but it still falls short of the growth rate the market was looking for.
Digital remained a clear bright spot, but not enough to offset slowing physical-store momentum. Digitally enabled comparable sales increased 20.9%, while total reported comps moderated from the prior month’s pace and landed below the cited forecast. The filing gives no earnings, margin, traffic, or membership data, so it does not provide evidence of operating leverage or profitability upside.
The dividend announcement adds no incremental signal. The $1.47 quarterly payout is a routine cash dividend declaration, with no increase or new capital-return authorization disclosed. Net, this is a modest sales-growth miss against elevated expectations, partially cushioned by core comps meeting forecast and continued digital strength.
Read the original 8-K on SEC EDGAR ↗