The Waltons are cheering a new milestone, with their retail behemoth Walmart Inc (NYSE:WMT, ETR:WMT) announcing a $100 billion e-commerce sales milestone in 2023, representing a 23% year-on-year gain.
The announcement came in Tuesday’s full-year earnings call, where total revenues across all of Walmart’s segments showed a more modest 6% increase to $648.1 billion.
Full-year consolidated operating income grew 32.2% year on year to $27 billion, with reported earnings.
For the fourth quarter alone, sales grew 5.7% to $173.3 billion on a year-on-year basis, with operating income increasing 30.4% to $7.25 billion.
Chief executive Doug McMillon said: “Our team delivered a great quarter, finishing off a strong year. We crossed $100 billion in e-commerce sales and drove share gains as our customer experience metrics improved, even during our highest volume days leading up to the holidays.
“We’re proud of the team and excited about building on our momentum as we work to bring prices down for our customers and members.”
In response to the results, Walmart shares surged 4.7% in pre-market trades, bringing the stock to a year-to-date high of $178.45.