Walmart (WMT) Company Report

Walmart is investing in technology to unify its Everyday Low Price model with e-commerce and physical operations, leveraging 100 million weekly customer visits for scalable growth.
The company partners with AI/LLM providers (e.g., OpenAI) to integrate agentic commerce capabilities and capture natural-language purchase queries, expanding its consideration set.
Expansion of retail media and data services (Luminate) is underway, with the Vizio acquisition enabling targeted TV advertising alongside in-app promotions to drive incremental ad revenues.
Back-end AI applications, such as high-frequency inventory monitoring via Luminate, aim to reduce stockouts and improve order-picking efficiency, enhancing fulfillment accuracy.

1 day ago

Transcript

Walmart outlines technology and AI-driven commerce strategy

WMT

Seth Dallaire emphasizes Walmart's integration of technology to enhance Everyday Low Prices, convenience, and e-commerce, leveraging stores as fulfillment nodes for fast delivery and hybrid experiences.
Walmart partners with OpenAI and other AI agents to capture advanced customer queries, enter agentic commerce consideration sets, and learn consumer behavior for potential e-commerce incrementality.
The company invests in back-end AI like Luminate for high-frequency inventory visibility, reducing nil-picks, boosting associate productivity, and optimizing online order fulfillment.
Walmart’s retail media business expands through e-commerce advertising and TV platforms (via Vizio acquisition), offering new ad surfaces and precision targeting for brands.
Enhanced membership and fast delivery offerings deepen customer relationships, increase basket sizes, and drive alternative revenue from ads, memberships, and data monetization.

1 day ago

Transcript

Walmart highlights tech-driven retail evolution at UBS 2025 Global Technology and AI Conference

WMT

Walmart is leveraging Everyday Low Prices and convenience as a foundation for significant technology investments in supply chain, store operations and e-commerce to improve customer experience across physical and digital channels.
The company is partnering with large language model providers (e.g., OpenAI) to capture agentic commerce interactions, gain insight into sophisticated query data and expand its consideration set among consumers using AI-driven shopping agents.
Through its Luminate data product, Walmart delivers high-frequency, SKU-and-store-level inventory visibility to suppliers, reducing out-of-stocks, improving order accuracy and enhancing both associate efficiency and customer satisfaction.
Walmart is scaling its retail media business—extending beyond e-commerce into TV advertising via the Vizio acquisition—to offer targeted ad experiences and unlock incremental revenue opportunities for brand partners.

1 day ago

Transcript

Walmart outlines e-commerce profitability, technology investments, and growth drivers

WMT

New Projects/Investments

M&A

Walmart’s e-commerce business achieved profitability this year, driven by 50% reduction in delivery costs and 50% completion of supply chain automation, enhancing margins and enabling SG&A leverage as revenue growth outpaces SG&A.
Alternative revenue streams are expanding: marketplace offers 500 million items, Walmart+ membership is positioned as an essential service, and retail media is strengthened by the VIZIO acquisition, unlocking endemic and non-endemic advertising opportunities.
Investments in AI and agentic commerce (e.g., Sparky) and a unified digital platform across U.S., Sam’s, and international segments aim to create personalized, contextual shopping channels while maintaining physical infrastructure for fulfillment.
International e-commerce and fintech ventures exhibit strong momentum, with China’s business balanced between physical and digital channels, and India’s PhonePe (300 million MAUs) and Flipkart platforms poised for IPO and advertising/fulfillment expansion.
Sam’s Club innovation drives member engagement through 40% Scan & Go adoption with high NPS, new club openings with pre-launch membership growth, and enhanced assortment fueling higher per-member spend.

2 days ago

Transcript

Walmart outlines strategy continuity and growth initiatives at Morgan Stanley conference

WMT

Management Change

Guidance Update

Revenue Acceleration/Inflection

John David Rainey will succeed Doug McMillon with no pivot in strategy, leveraging his leadership in e-commerce improvements and maintaining alignment across the organization.
Walmart's e-commerce business is now profitable, driven by supply chain automation that is 50% complete and has reduced delivery costs by 50% over two years.
Fiscal 2026 operating income growth is guided at 3.5–5.5%, or 5–7% on a normalized basis after adjusting for a 150 bps headwind from Leap Day and the Vizio acquisition.
Key alternative profit streams include retail media (bolstered by the Vizio streaming channel), membership, marketplace, and financial services, while international e-commerce in China (50/50 digital/physical) and India (PhonePe with 300 M MAU, Flipkart) offers significant runway.
Sam’s Club digital upgrades show 40% Scan & Go penetration (NPS > 90), and new club openings with early membership ramp indicate strong member engagement.

2 days ago

Transcript

Walmart outlines strategy and FY26 guidance

WMT

CEO Change

Guidance Update

Management transition is expected to be seamless under incoming CEO John, with continued execution of the existing e-commerce and digital-first strategy and strong alignment across the executive team.
E-commerce business is now profitable, helped by 50% reduction in delivery costs over two years as supply chain automation is about halfway complete.
Marketplace (500 million SKUs) and Walmart+ membership remain key growth drivers, with a vision to make Walmart+ the most essential U.S. membership and leverage the Synchrony co-branded card for 5% cash back.
Retail media is expanding, notably through the VIZIO acquisition, which adds a streaming channel and enables both endemic and non-endemic advertising with potentially higher ROAS.
Fiscal 2026 operating income growth is guided at 3.5 – 5.5% (or 5 – 7% on a normalized basis), reflecting underlying momentum despite one-time Leap Day, VIZIO, and insurance claim impacts.

2 days ago

Transcript

Walmart opens $350M milk processing plant in Georgia

WMT

New Projects/Investments

$350 million invested in a new 300,000-sq.-ft. milk processing facility in Valdosta, Georgia, creating 400+ jobs and sourcing directly from local farmers
Facility will supply over 650 Walmart and Sam’s Club stores in the Southeast with a range of milk options under Great Value and Member’s Mark brands
Builds on Walmart’s existing Fort Wayne, Indiana plant and aligns with its $350 billion U.S. manufacturing commitment through 2031 to bolster supply-chain resilience
A third owned and operated milk plant is planned to open in Texas in 2026 to further expand dairy processing capacity

3 days ago

Morningstar

Walmart to deploy Alquist 3DCP in retail construction projects

WMT

New Projects/Investments

Alquist partners with Hugg & Hall and FMGI to scale 3D construction printing across Walmart and other retailers in the largest U.S. commercial deployment to date
First project begins December 2025 in Lamar, Missouri, with more than a dozen national projects scheduled in 2026
FMGI will own and lease Alquist A1X printers, financed and serviced by Hugg & Hall, enabling Alquist to sell, lease, and rent equipment widely
Initiative aims to accelerate construction, cut waste, and commercialize 3DCP technology at scale

Nov 24, 2025, 11:00 AM

Press Release

Walmart shifts stock listing to Nasdaq

WMT

Delisting/Listing Issues

CEO Change

Revenue Acceleration/Inflection

Walmart will transfer its stock listing from the NYSE to the Nasdaq Global Select Market on December 9, 2025, marking one of the largest exchange transfers in NYSE history.
The shift underscores a tech-focused growth strategy, emphasizing automation, AI, and faster online fulfillment amid a 27% rise in global e-commerce and 53% growth in advertising revenue.
The move coincides with a CEO change and follows strong third-quarter results, including a 4.5% increase in same-store sales and raised full-year guidance.
Walmart will continue trading under the ticker “WMT”, aiming to tap Nasdaq’s tech-oriented investor base.

Nov 20, 2025, 5:37 PM

Bloomberg

Walmart reports Q3 2026 results

WMT

Earnings

Guidance Update

Consolidated revenue rose 6% in constant currency, driven by 27% e-commerce growth; comp sales in Walmart U.S. +4.5%, International +11% cc, Sam’s Club U.S. comps +3.8%
Adjusted operating income increased 8% cc, with International op income up 17% cc; advertising and membership fees comprised ~1/3 of adjusted operating income; adjusted EPS was $0.62, up 7%
Raised full-year sales guidance to 4.8–5.1% cc growth (Q4: 3.75–4.75%), operating income to 4.8–5.5% cc (Q4: 8–11%), and EPS to $2.58–$2.63 (Q4: $0.67–$0.72)
Announced transfer of its stock listing from the New York Stock Exchange to Nasdaq to support its tech-powered strategy

Nov 20, 2025, 1:00 PM

Transcript

Earnings Transcripts

Quarterly earnings call transcripts for Walmart.

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