Is Sam's Club better than Wal Mart
Walmart reports billions in losses
The company cites ongoing investments in e-commerce and high costs in connection with the Corona crisis as the reason. Walmart spent $ 1.1 billion on Covid-19-related measures in the fourth quarter of 2020 alone.
For the fiscal year, consolidated revenue rose 6.7% (7.7% in constant currency) to $ 559.2 billion, with Walmart USA posting like-for-like growth of 8.6% and Sam’s Club's like-for-like growth of 11.8%. Walmart USA's e-commerce grew 79%.
Walmart International grew 1% (up 5.2% in constant currency) to $ 121.4 million, with the highest growth rates in Mexico, Canada and India (Flipkart). Consolidated net income decreased 9.2% to $ 13.5 billion for the fiscal year.
US giant invests in supply chain
Walmart tests driverless vans
After the sales boom of 2020, Walmart expects a moderate result for the current financial year. In addition, investments of almost 14 billion dollars are planned, including for expanding the supply chain, automating processes and improving the customer experience.
Starting March 13, the wages of around 425,000 US frontline workers are to be raised to an average of over $ 15 an hour. The minimum starting wage for workers remains at $ 11 an hour, according to Walmart.
"Over the past year, retail change has accelerated," said Walmart President and CEO Doug McMillon. "The capabilities we've built over the years have given us a head start that we will maintain." For the 2022 financial year, the group is forecasting sales growth in the low single-digit range and a slight decrease in earnings per share.
Walmart uses stores as testing laboratories
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