Walmart got a net attributable profit of 11,680 million dollars (10,930 million euros) in the whole of its fiscal year, ending in January, which is equivalent to a decline of 14.6% compared to the result recorded in the previous year. The company’s revenues reached a total of 611,289 million dollars (572,024 million euros) in its last fiscal year, 6.7% more than a year earlier, although Walmart indicated an adverse impact of about 5,000 million dollars (4,679 million euros) for the divestments made.
The Walmart net sales they grew 6.9% annually in the United States, up to 420,600 million dollars (393,584 million euros), but remained flat internationally, with 101,000 million dollars (94,512 million euros). During the year, Walmart’s costs increased by 8.1% compared to the previous year, up to 463,721 million dollars (433,935 million euros), according to the figures communicated by the company to the United States Securities and Exchange Commission (SEC).
However, in the fourth fiscal quarter, the company obtained a net attributable profit of 6,275 million dollars (5,872 million euros), 76.2% more than in the same period of the previous year, while Walmart’s revenues grew by 7.3%, to 164,048 million dollars (153,511 million euros).
Facing this year 2023, Walmart confident of achieving net sales growth, without taking into account the effect of the exchange rate, of between 2.5% and 3%. However, the company expects its adjusted earnings per share to fall to a range of between $5.90 and $6.05, compared to $6.29 last year.
“We are excited about our moment. The team has had a good quarter to end the year and, as our results for the last two quarters demonstrate, have moved quickly and aggressively to address the inventory and cost challenges we faced last year. In the third quarter we gained momentum and continue to do so. We are well positioned to start this fiscal year.”stated in a statement Doug McMillon, Chairman and CEO of Walmart.
WalmartConnect
Regarding the advertising revenuethe company has revealed that it obtained 2,100 million dollars (1,976 million euros) last year 2022, largely due to the strength of its Retail Media network, WalmartConnect. Retail Media is growing by leaps and bounds and more and more companies are betting on this discipline. Nine of the top ten US retailers have launched their Retail Media network and it looks like Walmart Connect is working.
Globally, approximately 230 million customers visit Walmart properties each week, whether in-store or online. Nearly 150 million of those customers are in the United States. Additionally, 90% of American households shop at Walmart each year. According to semrushWalmart.com is the ninth most visited website in the United States.
As for the number of active advertisers on Walmart Connectgrew more than 130% year-over-year in 2021, with about half of ad sales coming from automated channels in the quarter, more than double from last year, according to the company’s earnings report. “I know how America buys more than anyone. We are not just a grocery store, we are not just a pharmacy, we are not just a self-care center… We are all of those things.”asserted Jeff Clark, Vice President of Walmart Connect.