Corporate Profiles - 2021 - 112

COMPANY OVERVIEW
Walmart, Inc.
W
almart, Inc. is making product improvements
across produce and meat to drive
momentum in its grocery business. Executives
at the Bentonville, Ark.-based retailer
underscored the importance of fresh food in an
Aug. 17 call to discuss second-quarter results,
which included a 6% increase in grocery sales.
" When I think about food, the first thing that
goes through my mind is fresh, " said C. Douglas
McMillon, chief executive officer. " It's one thing
to stay in stock on Corn Flakes. It's another to
merchandise fresh. "
Walmart in June launched the first product
line from its end-to-end Angus beef supply
chain program, which was established in 2019
to meet consumer demand for traceable beef
products bearing clean labels from a transparent
supply chain.
" We've made some progress on steaks, but
we'd like for our beef program to be stronger, " Mr.
McMillon said.
A key for the retailer has been ensuring unit
share in categories like food grows faster than
dollar share, allowing Walmart to position itself
as a leader in terms of retail value for the customer,
said John R. Furner, CEO of Walmart US,
during the Aug. 17 earnings call.
Overall, net income at Walmart in the second
Grocery remains key as retailer continues digital transformation
quarter ended July 31 totaled $4.28 billion, equal
to $1.53 per share on the common stock, down
34% from $6.48 billion, or $2.29 per share, in
the same period a year ago. Operating income
was $7.35 billion, up 21% from $6.06 billion.
Net revenues improved 2.4% to $141.05 billion
from $137.74 billion.
Providing customers with high-quality, affordable
food that is easy to use or prepare will be key
to continue tapping into the food-at-home trend
that has benefited the company throughout the
COVID-19 pandemic, Mr. Furner said. Walmart
in September launched a partnership with media
conglomerate Meredith Corp. to help customers
plan and prepare meals faster using a suite of
digital tools. It also made changes to its grocery
app to improve the customer experience.
Investments in e-commerce, technology and
Walmart's supply chain network have bolstered
omnichannel capabilities. The investments have
benefited everything from in-store shopping to
Walmart Plus, the company's premium online
subscription service, and Walmart Marketplace,
a curated e-commerce channel focused on small
and medium-sized businesses, Mr. McMillon said.
Investments in omnichannel capabilities also
are helping the company diversify its revenue
stream. Walmart this summer began selling its
pickup and drive-up services to small- and medium-sized
businesses. It also announced plans
to commercialize its delivery capabilities through
Walmart GoLocal, a new white label service for
other businesses of various sizes and categories.
Additionally, Walmart plans to monetize shopper
data generated through Walmart Connect, a
demand-side platform that connects brands to
consumers using the retailer's past purchasing
data, predictive audience segments and brandlevel
shopping behavior across mobile, digital and
in-store channels. Walmart is offering the data to
CPG brands that want to target shoppers more
directly and more accurately.
" One of the things that has become apparent
in recent years is that when you become a digital
company, you can start to build businesses on top
of other businesses in a way that's efficient and
manageable, " Mr. McMillon said during a Sept. 9
virtual session at the Goldman Sachs Global Retailing
Conference. CP
Chief executive officer -
C. Douglas McMillon
Walmart net income
(fiscal years ended in January)
Walmart net sales
(fiscal years ended in January)
Walmart share price
per share
$6,670
2019
$14,881
2020
$13,510
2021
$514,405
2019
$523,964
2020
$559,200
2021
$120
$130
$140
$150
$160
Oct. Dec.
2020
Feb.
2021
Apr.
June
Aug.
112 \ October 2021
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Corporate Profiles - 2021

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