Walmart posted third-quarter revenue growth of 9.2%, a profit of $1.11 per share and revenue of $140.5 billion.
Its e-commerce sales rose 8% after strong gains due to the COVID-19 pandemic in 2020.
The retail giant is also optimistic about fiscal 2022, forecasting adjusted earnings per share of $6.40, compared with its previous projection of $6.20 per share to $6.35.
Here’s why Walmart remains bullish amid inflation, supply chain problems and strong but fluid consumer demand.
Walmart has evolved into a technology company, with key technological developments including:
- Walmart GoLocal, the retail giant’s last-mile white-label delivery service, is adding another customer as Walmart recently signed up to The Home Depot. Spark Driver is Walmart’s soon-to-be-launched global driver platform that now operates in 900 US cities.
- Walmart Connect, the retailer’s ad network, remains robust, with sales up nearly 240% on a two-year stack. Walmart also partnered with The Trade Desk to improve its off-site media offerings.
- Walmart Luminate, a set of data products dedicated for merchants and suppliers to provide actionable categories and product insights.
- Walmart Marketplace is now a platform with 160 million items.
Walmart has retooled its approach to digital-first and then omnichannel. Walmart has learned to use an approach that involves designing omnichannel results, starting with the end in mind.
This allows the company to use technology to work in a way that is truly omnichannel.
Walmart is able to leverage its market, supply chain, and other services data, and manages its backroom from supercenters and neighboring markets across the country through computer vision, machine learning, and augmented reality.
These strategies are also used to help the company manage the pandemic and overall inventory.