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Walmart has reported strong fourth quarter results, as revenues grew by 5.7% to $173.4bn (£137bn) over the holiday quarter.
Its performance was boosted by its omnichannel model, which it said “continues to resonate with customers helping to deliver strong growth”.
Elsewhere, it reported a consolidated operating income up $1.7bn (£1.3bn), or 30.4%, while adjusted operating income was up 13.2%.
Over the quarter, global e-commerce sales rose by 23%, while US eCommerce grew by 17%, led by “strength in pickup and delivery”.
According to the group, its sales strength in the period was led by grocery and health and wellness, though general merchandise sales declined “modestly”. However, there were share gains in grocery and general merchandise, primarily among higher-income households.
For its full-year results, consolidated revenues grew by 6% to $648bn (£514bn), while consolidated operating income soared 32% to $6.6bn (£5.2bn).
Looking ahead, the group issued its guidance for FY25, expecting to report growth in net sales of 3% to 4%, and operating income of 4% to 6%.
Doug McMillon, president and CEO, Walmart, said: “Our team delivered a great quarter, finishing off a strong year. We crossed $100bn (£79.3m) in eCommerce sales and drove share gains as our customer experience metrics improved, even during our highest volume days leading up to the holidays.
“We’re proud of the team and excited about building on our momentum as we work to bring prices down for our customers and members.”
