Walmart CEO Doug McMillon is the first annual HomeWorld Business Retail Executive Of The Year.
McMillion since taking the helm in 2014 has emerged as the standard bearer leading Walmart’s diverse, complex retail business into the omnichannel future, where e-commerce and brick and mortar combine as the basis for convenient ordering, store pickup and delivery, while emphasizing data integrity and privacy.
McMillon is helping Walmart embrace a retail future when technology continually improves the customer experience, and he is focused on ensuring technological and operational change is consistent with Walmart’s strengths.
Hear from McMillon in this special HomeWorld Business video presentation that reviews Walmart’s transformation under McMillon’s stewardship, which set up a highly successful 2019 while positioning the retail giant for continued leading-edge achievement in the years to come.
As Walmart prepared in stores and online for the 2019 holiday season, the retailer posted a strong third quarter, with both net income and sales growth as well as the Walmart U.S. division in particular recording a solid performance.
The retailer reported net income of $3.29 billion, or $1.15 per diluted share, versus $1.71 billion, or 58 cents per diluted share, in the quarter a year earlier.
Walmart’s third quarter total revenues increased year over year by 2.5% to $128 billion as net sales also gained 2.5% to $127 billion.
At Walmart U.S., net sales advanced 3.2% to $83.2 billion while operating income increased 6.1% to $4.2 billion versus the year-earlier quarter. Comparable sales, excluding fuel price effects, gained 3.2%, with transactions up 1.3% and ticket up 1.9%, in the quarter year over year.
McMillon said highlights in the period included the announced rollout of Delivery Unlimited, the company’s grocery delivery membership option to 1,400 stores in the U.S.; the launch of InHome Delivery service in Kansas City, Pittsburgh and Vero Beach, FL; the opening of the first-ever Walmart Health center in Dallas, GA; and record sales at Flipkart during the India e-commerce operator’s Big Billion Days sales event.
Walmart has increased market share in key food and consumables categories, McMillon added, and had positive comps in general merchandise. Comp sales growth of 3.2%, along with good expense management, helped the company leverage SG&A, particularly in physical stores, even as it made investments in price, leading to operating income growth for the sixth consecutive quarter, the company noted.
McMillon said Walmart kicked off its U.S. holiday initiative with an integrated plan in stores and online. Walmart has expanded Check Out with Me and the DotCom Store services to all supercenters as a way to shorten checkout wait times.