You might also like
Walmart Inc. is a global omni-channel retailer that offers a wide range of products and services through its three main segments: Walmart U.S., Walmart International, and Sam's Club. The company is involved in mass merchandising, eCommerce, and operates membership-only warehouse clubs, providing products across categories such as grocery, general merchandise, and health and wellness . Walmart emphasizes its omni-channel capabilities, integrating physical stores with eCommerce to enhance customer experience .
- Walmart U.S. - Operates as the largest segment, providing mass merchandising and eCommerce services in the U.S., offering products in grocery, general merchandise, and health and wellness categories.
- Grocery - Includes dry grocery, snacks, dairy, and beverages.
- General Merchandise - Covers entertainment, hardlines, fashion, and home products.
- Health and Wellness - Encompasses pharmacy and medical products.
- Walmart International - Expands the company's global presence with operations in 18 countries, including eCommerce and omni-channel initiatives.
- Sam's Club - Functions as a membership-only warehouse club in the U.S., contributing to revenue through both physical locations and eCommerce.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
C. Douglas McMillon ExecutiveBoard | President and CEO | Business Roundtable (Board Member), Consumer Goods Forum (Board Member), U.S.-China Business Council (Board Member), Tsinghua University School of Economics and Management (Advisory Board Member), Crystal Bridges Museum of American Art (Board Member) | Joined Walmart in 1991; became CEO in 2014. Previously led Walmart International and Sam's Club. Key driver of Walmart's omni-channel strategy. | View Report → |
Christopher Nicholas Executive | President and CEO, Sam's Club | None | Joined Walmart in 2018. Previously COO of Walmart U.S. Became CEO of Sam's Club in 2023. | |
David M. Chojnowski Executive | Senior Vice President and Controller | None | Joined Walmart in 2014. Previously VP and Controller for Walmart U.S. | |
Donna Morris Executive | EVP, Global People and Chief People Officer | None | Joined Walmart in 2020. Previously Chief HR Officer at Adobe. | |
John David Rainey Executive | Executive Vice President and CFO | None | Joined Walmart as CFO in 2022. Previously CFO at PayPal. | |
John Furner Executive | President and CEO, Walmart U.S. | None | Joined Walmart in 1993 as an hourly associate. Became CEO of Walmart U.S. in 2019. Previously CEO of Sam's Club. | |
Kathryn McLay Executive | President and CEO, Walmart International | None | Joined Walmart in 2015. Previously CEO of Sam's Club, where she achieved double-digit sales growth. Became CEO of Walmart International in 2023. | |
Suresh Kumar Executive | EVP, Global CTO and Chief Development Officer | None | Joined Walmart in 2019. Previously held leadership roles at Google, Amazon, and Microsoft. Key driver of Walmart's AI and technology modernization efforts. | |
Bob Moritz Board | Director | Board Member at State University of New York at Oswego Foundation, Generation Unlimited, and World Economic Forum International Business Council | Joined Walmart's board in 2024. Former Global Chair of PwC. | |
Carla A. Harris Board | Director | Senior Client Advisor at Morgan Stanley, Board Member at Cummins Inc. and MetLife, Inc., Board Member at Sesame Workshop and Mother Cabrini Health Foundation | Joined Walmart's board in 2017. Former Vice Chairman at Morgan Stanley. | |
Gregory B. Penner Board | Chairman of the Board | Owner and CEO of Denver Broncos, General Partner at Madrone Capital Partners, Board of Trustees at Brown University | Joined Walmart's board in 2002; became Chairman in 2015. Former CFO of Walmart Japan and key contributor to Walmart's eCommerce strategy. | |
Marissa A. Mayer Board | Director | CEO of Sunshine, Board Member at AT&T Inc., Board Member at Go Forward, Inc., Board Member at Maisonette, LLC, Board Member at San Francisco Ballet | Joined Walmart's board in 2012. Former CEO of Yahoo and early Google executive. | |
Randall L. Stephenson Board | Director | Board Member at Boy Scouts of America and PGA Tour | Joined Walmart's board in 2021. Former Chairman and CEO of AT&T. | |
Sarah Friar Board | Director | CEO of Nextdoor (resigning May 2024), Co-Founder of Ladies Who Launch, Fellow at Aspen Global Leadership Network | Joined Walmart's board in 2018. Former CFO of Square. | |
Steuart L. Walton Board | Director | Founder and Chairman of RZC Investments, Co-Founder of Runway Group, Board Member at Crystal Bridges Museum of American Art, Smithsonian National Air and Space Museum (Emeritus) | Joined Walmart's board in 2016. Former Senior Director of International M&A at Walmart. | |
Tom Horton Board | Lead Independent Director | Partner at Global Infrastructure Partners, Board Member at General Electric Company, Executive Board Member at Cox School of Business | Joined Walmart's board in 2014. Former Chairman and CEO of American Airlines. |
-
As you continue to invest in areas like price reductions and wage increases to lay the foundation for future growth, how do you balance these investments with the need to accelerate enterprise-wide profit growth, and are you seeing diminishing returns in these areas that might impact profitability next year and beyond?
-
With the competitive landscape intensifying, particularly from both traditional and non-traditional retail players, how is Walmart planning to sustain its market share gains in the U.S., and what strategic adjustments are you making in response to competitors' actions?
-
Given the changes in your fourth-quarter operating income guidance and the significant wage investments at Sam's Club, how are you managing gross margin expectations, especially in light of continued pressure from higher health and wellness sales and potential e-commerce profitability challenges in the U.S.?
-
With the growth in Walmart Plus memberships, can you elaborate on how this is translating into increased customer spend and loyalty, and how you are leveraging the data from these members to drive growth in your new businesses?
-
Despite a positive inflection in general merchandise sales, the mix shift towards consumables continues to pressure gross margins; when do you anticipate a more balanced growth between general merchandise and consumables, and what impact will this have on overall gross margin expansion?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Competes with Sam's Club in the membership-only warehouse club segment, offering value at members-only prices, a quality merchandise assortment, and bulk sizing to serve members. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
VIZIO Holding Corp. | 2025 | Walmart completed the acquisition of VIZIO to leverage its operating system for targeted ads and content, enhancing its retail media capabilities. The deal, which initially resulted in 70 basis point headwinds but is forecasted to become earnings accretive by the following year and contribute a 20 basis point tailwind to net sales growth, reflects strategic integration despite near-term negative impacts on operating income due to transition costs. |
Alert Innovation | 2023 | Walmart acquired Alert Innovation for $0.4 billion in fiscal 2023, transitioning the company from a variable interest entity to a wholly owned subsidiary. This acquisition supports Walmart’s innovation and technological growth strategies by consolidating full control of Alert Innovation. |
Massmart | 2023 | In fiscal 2023, Walmart executed a $0.4 billion buyout of Massmart's noncontrolling interest shareholders, increasing its stake from roughly 53% to 100%. This transaction, completed in the fourth quarter of fiscal 2023, involved the reallocation of cumulative currency translation effects back to Walmart, solidifying its full ownership. |
Recent press releases and 8-K filings for WMT.
- Mizuho upgrades Walmart to top pick with a $115 price target, citing a decade of investments in delivery and convenience that now rival peers.
- Tariffs remain a key headwind, as Walmart opts to absorb higher costs rather than pass them to consumers, pressuring margins.
- Technology investments, including AI-driven headcount reductions and “dark stores,” are expected to lower labor costs and shrink theft losses (~25% of profits) over time.
- Clarity on tariff resolution is critical for Walmart to overcome its current sideways stock movement and reach the $115 target.
- First-owned case-ready beef processing facility in Olathe, Kansas, spanning 300,000 sq ft, processes Angus beef sourced from Sustainable Beef LLC.
- Expected to create over 600 jobs locally and boost suppliers and service providers by stimulating economic growth.
- Facility enhances Walmart’s cost control, margin improvement and competitive position via direct supply chain management.
- Part of Walmart’s strategy to invest $350 billion in U.S.-made products by 2031 and meet consumer demand for traceability and quality.
- Walmart revived its dark store concept, opening one location in Dallas and planning another in Bentonville, Arkansas, with more sites under consideration to boost fulfillment speed.
- CFO John David Rainey noted that over 30% of orders now include a convenience fee for expedited delivery within one to three hours, and batch density has improved by 20%.
- These retail-like facilities are closed to the public and feature layouts optimized for employees and drivers, enabling faster, more efficient order fulfillment compared to traditional stores.
- The initiative is part of a broader digital transformation—including e-commerce investments, marketplace expansion, automation, and pharmacy delivery—and aims to drive online profitability in 2025.
- As of June 13, 2025, Walmart’s stock rose 1.2% to $67.50, reflecting investor interest after stablecoin news.
- Walmart is considering a USD-pegged stablecoin launch and joining a merchant-led consortium alongside Amazon, though no official announcement has been made.
- The initiative is tied to the pending GENIUS Act, which would mandate annual audits and full USD backing for stablecoin issuers with over $50 billion market cap.
- Adoption of stablecoins could reduce reliance on banks and card networks, potentially saving billions in transaction fees and speeding up settlement times.
- Other major tech companies, including Shopify and Airbnb, are likewise exploring stablecoin integration to enhance payment efficiency.
- Robust organic growth: Over the last five years, Sam's Club achieved a 50% increase in sales and a 33% increase in membership, reflecting strong consumer confidence.
- Digital innovation focus: Key initiatives include the longstanding Scan and Go (now accounting for 35% of sales) and advanced Just Go Exit Tech driven by computer vision.
- Aggressive physical expansion: Plans call for opening 30 new clubs by FY2029 with a long-term target of 15 club openings per year to support a strategy to double sales and membership in the next 8–10 years.
- Leveraging Walmart scale: Integration with Walmart’s supply chain and technology—such as the Walmart Spark driver network and a unified e‑commerce app—enhances member convenience and operational efficiency.
- Walmart emphasized strong US consumer performance and a notable acceleration in e-commerce, with significant progress in express delivery and operational improvements ( ).
- The discussion included challenges from tariffs, strategic adjustments in general merchandise, and initiatives to balance physical and digital sales channels ( ).
- Executives outlined investments in alternative revenue streams, technological enhancements, and supply chain automation to support long-term growth and enhance shareholder returns ( ).
- Following a Supreme Court decision revoking temporary protections for migrants from Cuba, Haiti, Nicaragua, and Venezuela, Walmart has begun terminating workers in Florida and Texas who lost work authorization under federal I-9 rules .
- Florida is disproportionately affected, housing about 400,000 of the 530,000 migrants whose humanitarian parole and TPS protections were ended .
- The retailer is also weighing a broader corporate restructuring that could cut roughly 1,500 corporate roles in global technology, e-commerce fulfillment, and its advertising arm, Walmart Connect .
- As the largest non-government U.S. employer, Walmart has around 1.6 million employees across nearly 4,600 stores and warehouses, highlighting the potential scale of impact .
- International segment growth: Walmart’s international business, with over $120B in net sales and $5.5B EBIT, is a key growth driver, targeting a $200B GMV by 2028 and doubled profitability.
- E-commerce and quick commerce focus: Investments in profitable e-commerce markets—where rapid delivery models (as fast as 3 to 15 minutes) in China and India are being refined—are central to Walmart’s strategy.
- Supply chain and digital initiatives: Enhanced supply chain resiliency and digital connectivity, including multi-country manufacturing diversification and digital services like loyalty programs, are improving omni-channel retail across 18 markets.
- Global revenue reached $165.6 billion (up 2.5%), with consolidated revenue increasing 4% in constant currency and Walmart U.S. comparable sales rising 4.5% across key segments.
- Global eCommerce sales surged 22% with profitability achieved in the eCommerce business—boosted by a profitable U.S. segment and contributions from Sam’s Club—marking a significant strategic turnaround.
- Reported GAAP EPS of $0.56 and adjusted EPS of $0.61 (up 1.7%), while operating income grew 4.3% and adjusted operating income reached $7.3 billion (up 3.0%).
- Walmart U.S. net sales were $112.2 billion (up 3.2%) and International net sales reached $32.1 billion with a 7.8% increase, underscoring strong regional performance.
- The company repurchased $4.6 billion in stock and issued approximately $4 billion in debt, alongside investments in supply chain automation, store growth, and technology.
- Executives highlighted proactive measures to manage tariff impacts and inventory challenges, with disciplined cost management driving margin improvements.
- Provided Q2 net sales guidance for continued momentum.
- Walmart Inc. filed an 8-K on April 28, 2025, reporting recent events and transactions related to its debt securities (e.g., Pricing Agreement and Underwriting Agreement).
- The filing details the issuance of several debt note series, including $750M Floating Rate Notes Due 2027, $750M 4.100% Notes Due 2027, $1B 4.350% Notes Due 2030, and $1.5B 4.900% Notes Due 2035, with aggregate authority of up to $9B for FY 2026.
- The document also includes series term certificates and supporting legal opinions, establishing and approving the terms and conditions for these various note series.