Like Amazon, Walmart improved margins in 2023, thanks to a healthy core business, steady growth in e-commerce and leverage from advertising revenue. This strategy enabled the company to announce fresh strategic investments.
With a share price jumping by 20% in a year, taking capitalisation to US$473 billion, the world’s largest retailer by sales Walmart published annual figures on February 20, 2024 (financial year ending 26 January 2024). Total sales reached US$648.1 billion up 5.5% at constant exchange rates. This is equivalent to food inflation, which reached 5% in the U.S.A. last year, and lower than the HICP at 3%. Walmart’s sales grew slightly by volume.
Walmart’s profitability, which had fallen in 2022,...
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