The world's largest retailer’s total revenue for the year topped out at $485.9 billion.
Walmart posted a big jump in its online business in Q4, posting a 29 percent increase in e-commerce sales as well as a gross merchandise value growth (or the total value of merchandise sold over a given time period) of 36.1 percent, including Jet.com and online grocery sales.
Last August, Walmart purchased Jet.com, one of the fastest growing e-commerce companies in the U.S., for approximately $3 billion. According to Walmart, the buy better positioned the company to more quickly achieve e-commerce growth goals by adding new capabilities and expanding its customer reach.
“We’re moving with speed to become more of a digital enterprise and better serve customers,” says Doug McMillon, president and chief executive officer, Walmart Stores. “We had a very solid fourth quarter with U.S. comp sales growth of 1.8 percent and U.S. e-commerce GMV growth of 36 percent. Our international business is consistently delivering solid sales growth in constant currency, and Sam’s Club posted its best comp sales growth of the year. We have more work to do, but I’m pleased with our progress.”
Total Q4 revenue for the retailer in the U.S. was $130.9 billion, an increase of 1 percent from the year prior. However, excluding currency exchange rates, total revenue was $133.6 billion, an increase of 3 percent.
Q4 net sales for Walmart International however, were $31 billion, a decrease of 5.1 percent from the year prior.
In addition to Walmart’s Q4 results, the company also posted its fiscal 2017 results. Highlights include:
- Total revenue was $485.9 billion, an increase of 0.8 percent from the year prior. Excluding currency, total revenue was $496.9 billion, an increase of 3.1 percent.
- Operating income was $22.8 billion, a decrease of 5.6 percent from the year prior.
- The company generated $31.5 billion in operating cash flow and returned $14.5 billion to shareholders.