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Walmart revenue reaches $ 559 billion in fiscal 2020

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Walmart
WMT
FY2020 revenue grew 6.7% to $ 559 billion, retaining its top spot as the largest U.S. retailer followed by Amazon
AMZN
which reported revenues of $ 386 billion for its fiscal year. The US division of Walmarts grew 8.6% for the year, mainly due to higher spend per customer visit. In the fourth quarter, the average value of each customer transaction increased by 22%. Walmart, excluding Sams Club, accounts for nearly 60% of the discount store segment sales in the United States and 6.5% of total retail sales (minus restaurants). In the fourth quarter (November to January), e-commerce sales in the United States were up 69% compared to the industry where non-store sales increased 23%.

In the publication of results, the company attributes its strong performance to being the primary destination for customers by delivering value on the items they want and need, supported by increasingly efficient pickup and delivery. Walmart has invested heavily in technology to support a seamless digital customer experience and continues to look for ways to create higher efficiency, such as using automation throughout the supply chain. The company plans to invest nearly $ 14 billion to strengthen supply chain capacity, boost productivity and improve the customer experience by ensuring products are in stock to meet demand.

Walmart President and CEO Doug McMillon said: Change in retail has accelerated in 2020. The capabilities we have developed in previous years have put us ahead and would stay ahead. Our company is strong and made it even stronger through targeted investments to accelerate growth. The company plans to expand its business categories into advertising, financial services and healthcare. According to Walmart he plans to continue investing in associates and creating opportunities by increasing the salaries of an additional 425,000 front-line associates (after giving increases to 165,000 associates last fall).

Brett Biggs, Chief Financial Officer of Walmart, said: “ We just ended a year with record sales and operating cash flow and we have accomplished this while accelerating our long term strategy of turning Walmart into a business. dynamic omnichannel. Now is the time to step up even more.

Total US retail (less autos and gasoline) ended the year 2.5% above 2019. The discount store segment performed well throughout the pandemic and ended the year year in force in January (2021) up 9.6% compared to last year. At the end of the year, the US market was 8% ahead of last year for discount retailers, including warehouse clubs. Grocery stores and home improvement stores also performed well in 2020 with year-end increases of 12% and 15% respectively. Non-store sales for the year were up 23% compared to Walmart’s online sales in the United States up 79%. Segments that did not perform well in the year of the pandemic were clothing / accessories (including footwear), down 27% and department stores, down 18% from last year .

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