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Walmart posts 'record' Q4 thanks to online and holiday demand

Dive Brief:
As the pandemic moved holiday shopping online, Walmart s U.S. comp sales growth beat expectations at 8.6%, and e-commerce sales grew 69% year over year in the fourth quarter. Comps at Sam s Club also grew 10.8%.
Walmart s revenue rose 7.3% year over year to $152.1 billion from $141.7 billion, according to a Thursday press release. For the fiscal year, the retailer s revenue rose 6.7% to $559.2 billion, with U.S. comps up 8.6%, e-commerce up 79% and Sam s Club comps up 11.8%.
The retailer is also raising wages for 425,000 associates working frontline roles to an average of above $15 per hour, per the release.
Dive Insight:
Walmart s results continue to be shaped by a rising number of COVID cases during the end of 2020, capping off a robust year with a Q4 that rode on e-commerce and holiday shopping demand. During the pandemic, Walmart has leaned on its scale, existing e-commerce assets and status as a one-stop-shop to cater to consumers evol ....

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