Walmart has surely gained even more momentum this year, as the company recently revealed its fourth quarter and fiscal year 2021 results, noting an annual revenue of nearly $560 billion resulting in $35 billion of growth, as well as several key strategies for ensuring the growth streak continues.
“This is a time to be even more aggressive because of the opportunity we see in front of us,” commented President and CEO Doug McMillon in a release. “The strategy, team, and capabilities are in place. We have momentum with customers, and our financial position is strong.”
Chief Financial Officer Brett Biggs also weighed in on the recent results.
“Our associates responded unbelievably to serve customers in one of the most challenging times we’ve faced. We have tremendous momentum, having just completed a year with record sales and operating cash flow,” added Biggs. “We accomplished this while accelerating our long-term strategy of transforming Walmart into a dynamic omnichannel business. It’s now time to accelerate even more.”
According to the release, Walmart’s new omnichannel strategy features the following:
“We completed a strong year and a strong Q4 thanks to our amazing associates. They stepped up to serve our customers and members exceptionally well during a busy holiday period in the midst of a pandemic,” continued McMillon. “Change in retail accelerated in 2020. The capabilities we’ve built in previous years put us ahead, and we’re going to stay ahead. Our business is strong, and we’re making it even stronger with targeted investments to accelerate growth, including raises for 425,000 associates in frontline roles driving the customer experience.”
Other highlights from the company’s financial results included:
To read the entire financial report, click here.
Deli Market News will continue to keep you informed about all things retail, so stay tuned.