Walmart, the American retail giant, has witnessed a record fourth quarter!
The numbers say that! While the online sales of the retailer, during the fourth quarter, saw a whopping year-over-year (Y-o-Y) rise of 69 per cent, its US comp sales grew by 8.6 per cent.
Notably, the revenue of the retailer went up by an impressive 7.3 per cent Y-o-Y from US $ 141.7 billion to US $ 152.1 billion. This was confirmed in company’s press release.
For the fiscal year, Walmart witnessed its revenue increase by 6.7 per cent to clock US $ 559.2 billion. Its US comp sales for the fiscal year rose by 8.6 per cent, while online sales surged by 79 per cent.
The retail giant has attributed the good numbers to online growth and holiday shopping during the fourth quarter.
Even when the stores were closed and restrictions got tightened, Walmart continued to remain the one-stop-shop to satisfy all the demands of shoppers.
Walmart’s operating income too surged by 3.1 per cent to touch US $ 5.5 billion, with US operating income rising by 17.4 per cent to US $ 5.2 billion.
The retailer said that it expects the net sales for the 2022 fiscal year to grow in low-single digits, but it would continue investing in technology in addition to developing supply chain capacity to boost sales.
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