Walmart has been in the e-commerce business for 25 years, but until recently the business that gained traction during the COVID-19 pandemic was mostly an unprofitable business subsidized by store sales.
Execs with the Bentonville-based global retailer said during an April 9 investor conference in Dallas that the U.S. e-commerce business would be profitable in the first quarter ending April 30 and for the year when factoring in revenue growth from advertising and fulfillment revenue. Walmart hinted in previous quarters that its online business in the U.S. was close to becoming cash-flow positive.
Sam’s Club, a much smaller business than Walmart U.S., is already cash-flow positive with its online business, and Walmart Chief Financial Officer John David Rainey said Walmart’s global e-commerce business is not far away from profitability when factoring the growth marketplaces…
