Fourth-Quarter Financial Performance
Walmart posted solid fourth-quarter results as shoppers prioritized value and convenience, pushing online sales to a record share of the retailer's business. The company reported fiscal fourth-quarter revenue of $190.7 billion, marking a 5.6% increase from the prior year. U.S. comparable sales rose 4.6%, driven by a 2.6% increase in transactions and a 2% rise in average spend per visit. Grocery prices increased just 0.6% year-over-year, with declines in categories like eggs and dairy.
E-Commerce and Delivery Expansion
Global e-commerce sales climbed 24% in the quarter, including a 27% increase in the U.S., where online now represents 23% of total sales—the highest level in company history. Growth was partly fueled by roughly 50% expansion in store-fulfilled delivery, as Walmart broadened faster-delivery options reaching the vast majority of U.S. households within hours.
Market Share and Profit Growth
The retailer continued to gain market share across income tiers, including higher-income households, indicating its pricing and convenience strategy resonates beyond budget-conscious shoppers. Profits grew faster than sales, with adjusted operating income rising about 10% against roughly 5% sales growth. These gains stemmed from higher-margin businesses like advertising, which increased 37% globally (41% for Walmart Connect in the U.S.), and membership programs, where fee income rose more than 15%. Together, they accounted for nearly one-third of operating income. Inventory growth stayed below sales growth, reflecting ongoing supply chain discipline.
Fiscal Year Outlook
Looking ahead, Walmart anticipates full current fiscal year sales growth of 3.5% to 4.5%, with operating profit projected to increase 6% to 8%. These results point to resilient U.S. consumers remaining value-focused, while Walmart's investments in digital services, faster delivery, and higher-margin revenue streams bolster its competitive position.
