BENTONVILLE, AR – Walmart hit a lofty milestone this week, crossing above the $1 trillion mark in market value. According to the NY Times and elsewhere, digital sales have been a “major driver” of growth.
“Walmart’s e-commerce business includes curbside pickup, same-day delivery and a growing third-party marketplace, while its advertising business has become increasingly important to its bottom line,” writes Kailyn Rhone in the Feb. 3 Times. “In its last quarter, Walmart reported a 27 percent increase in e-commerce sales and a 53 percent jump in advertising revenue.”
Rhone adds that investors have specifically been drawn to the company’s rapid e-commerce growth in recent years, as well as their push into automation and artificial intelligence. Walmart’s stock has climbed almost 28 percent over the past year.
Sarah Henry, managing director and portfolio manager at Logan Capital Management told the Times: “Walmart management was prescient in building out a business model optimized for this moment. Their rebuilding recast their image as much as a technology company, as they are a retailer.”
Walmart Marketplace and Walmart Connect will have a major presence at Prosper, scheduled for March 10-12 at The Wynn Las Vegas. Keep checking the Prosper Pathway and the Prospershow.com website for additional information about special Walmart-related events.