Walmart's eCommerce growth has remained strong, with double-digit gains in the past two quarters, even as the COVID-19 pandemic receded. The company's success has led to a more than 16% increase in its shares this year, outperforming the S&P 500 and the retail-focused ETF, the XRT. The company recently celebrated the re-opening of 117 remodeled stores and highlighted its use of AI and AR technologies to improve the shopping experience.
Key takeaways:
- Walmart's shares reached an all-time high of $166.30, the highest since its inception on the New York Stock Exchange in 1972.
- One of the key factors driving Walmart's success is its dominance in the grocery sector, generating over half of its annual revenue from groceries.
- Walmart has prioritized enhancing the customer experience to keep up with technologically advanced rivals, including launching new clothing brands, revamping its website and app, and investing over $9 billion to upgrade its stores.
- Walmart's strong eCommerce growth, including double-digit eCommerce gains for its U.S. business in the past two quarters, has been another noteworthy achievement.