Walmart’s online push is paying off.
Walmart reported fourth-quarter revenue of $138.8 billion, an uptick of 1.9 percent from the prior-year period. Operating income was $6.1 billion, up nearly 36 percent from $4.5 billion in Q4 2018.
While comp-store sales for Walmart U.S. grew 2.5 percent to 3 percent (excluding fuel), and Sam’s Club grew 3 percent (excluding fuel and tobacco), it was online sales that soared in the all-important holiday season. E-commerce sales grew 40 percent at Walmart U.S. for the period, which the chain attributed to its expansion of grocery pickup and delivery and a broader assortment on Walmart.com.
See also: Walmart To Open Cashier-Less Sam’s Club
Sam's Club comp sales increased 3.3 percent, and its e-commerce sales grew 21 percent.
Doug McMillon, Walmart president/CEO, attributed the comp-sales growth to the company’s progress on the company’s initiatives and a favorable economic environment.
While the retailer expects to open fewer than 10 stores in the U.S. this year, its $11 billion in capital expenditures will be primarily dedicated to store remodels and improvements in customer initiatives, e-commerce, technology and supply chain.
McMillon said during an investors’ earnings call that Walmart will use technology for new sales associate training, including the “gamification of educational experiences.”