Holiday Sales, E-commerce Growth Drives Walmart's Q4 Revenue
Fourth quarter sales at Walmart were up more than 4% as solid holiday season sales coupled with double-digit growth in e-commerce were key drivers across the company.
Company-wide net sales grew 4.1% to $180.6 billion, as consolidated net income attributable to Walmart was down 4.4% to $5.4 billion, with diluted net income per share also attributable to Walmart down 4.4% to $0.65.
“Our team finished the year with another quarter of strong results. We have momentum driven by our low prices, a growing assortment, and an e-commerce business driven by faster delivery times,” said Doug McMillion, president and CEO of Walmart. “We’re gaining market share, our top line is healthy, and we’re in great shape with inventory. We’ll stay focused on growth, improving operating margins, and strengthening ROI as we invest to serve our customers and members even better.”
Full-year revenue was up 5.1% to $681 billion. Consolidated net income attributable to Walmart was up 25.3% to $19.4 billion, with diluted net income per share attributable to Walmart up 26.2% to $2.41.
In the company’s Walmart U.S. division, sales for the quarter were up 5% to $123.5 billion, with comparable store sales excluding fuel up 4%. Broad-based sales momentum across merchandise categories, strong seasonal sales, and growth in e-commerce sales (up 20%) were key factors in the sales increase.
Sam’s Club quarterly sales grew 5.7%, with comparable store sales excluding fuel up 3.1%. Growth was led by the food and health & wellness categories with comp sales growth primarily driven by transaction counts and unit volumes. E-commerce sales were up 24% led by club-fulfilled pickup and delivery.
The Walmart-owned warehouse club also reported share gains in grocery and general merchandise categories, including apparel and consumer electronics. Membership income was up 13%.
For fiscal year 2026, Walmart is forecasting an increase in net sales of between 3% and 4% with adjusted earnings per share of between $2.50 and $2.60.
Despite the solid gains in FY2025, the retailer’s stock began the day on Thursday, Feb. 20, down 6% as its projections for the year ahead were below Wall Street expectations, according to a report from the Wall Street Journal. Wall Street’s earnings estimate for FY26 was $2.77 per share.
“We have to acknowledge that we are in an uncertain time and we don’t want to get out over our skis here,” John David Rainey, Walmart’s chief financial officer said during the retailer's investor conference call
