Walmart released its annual report on Tuesday, showing total revenue grew 3% to $514.4 billion in worldwide sales the latest fiscal year.
released its annual report on Tuesday, showing that total revenue grew 3% to $514.4 billion in worldwide sales in the latest fiscal year.
These past five years in this role have passed quickly, and it has been an exciting time to be at Walmart. Looking back, I'm not sure I could have imagined some of the things we're doing in our business today but, at the same time, it feels like we're just getting started. The ways we can use technology today and in the future are exciting, but our business is still a people business. We are people-led and tech-empowered, and that makes investing in our associates a strategic priority. On any given day, our associates may be attending one of our new training academies in the U.S. or entering our new fast-track leadership program for Walmart International.
2. Risk — There is no growth without change, and there is no meaningful change without risk. So, get comfortable with an intelligent level of risk. Otherwise, the law of diminishing returns sets in as always doing the same things the same way takes over. We invested substantially in wages, associate education, pricing and eCommerce. We acquired Flipkart, Jet and others, and we partnered with global technology companies in places like China and Japan.
Breaking it down, Walmart U.S. grew comp sales 3.6 percent, excluding fuel — the highest annual growth rate in a decade — and eCommerce sales increased 40 percent, nearly doubling the sales of that business over the past two years. And momentum continued at Sam's Club with comp sales growth of 3.8 percent, excluding fuel.
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