As of 2022, 2,751,779,629 Shares were outstanding for Walmart. The company’s major shareholder is the Walton family, whose mission is to “help people around the world save money and live better – anytime and anywhere – in retail stores and through eCommerce.” While its vision is to “make every day easier for busy families.” Walmart defines “busy families” as the bull’s eye of its business strategy. From humble beginnings just over 50 years ago, Walmart’s business model has become the world’s largest retail company.
With over $611 billion in net sales in 2023, Walmart operates a differentiated business model with three primary units: Walmart U.S., Walmart International, Sam’s Club (a membership-only warehouse club), and Walmart+. This subscription service includes free shipping, unlimited delivery from its stores, and discounts launched in 2021. The company reported a net income of $11.68 billion in 2023.
Walmart generated $611.29 billion in revenue in 2023 and $11.68 billion in profits, compared to $572 billion in revenue in 2022 and over $13.6 billion in net profits in the same year. Compared to over $559 billion in revenue in 2021 and over $13.5 billion in net profits.
In 2023, Walmart reported 240 million customers compared to 230 million global customers in 2022, 240 million customers in 2021, and 265 million customers in 2019.
Walmart had 2.1 million associates globally in 2023, compared to 2.3 million associates globally in 2022, the same number in 2021. In 2020, Walmart had 2.2 million associates globally.
Walmart’smission can be summarized as “helping people around the world save money and live better – anytime and anywhere – in retail stores and through eCommerce.” While its vision is to “make every day easier for busy families.” Walmart defines “busy families” as the bull’s eye of its business strategy.
Walmart has a hybrid hierarchical-functional organizational structure, otherwise referred to as a matrix structure that combines multiple approaches. On the one hand, Walmart follows a hierarchical structure, where the current CEO Doug McMillon is the only employee without a direct superior, and directives are sent from top-level management. On the other hand, the function-based structure of Walmart is used to categorize employees according to their particular skills and experience.
From humble beginnings just over 50 years ago, Walmart has become the world’s largest retail company. A single small discount store in Arkansas has now expanded to over 11,000 stores in 28 countries. Some reports suggest that the company makes $1.8 million of profit every hour.
Gennaro is the creator of FourWeekMBA, which reached about four million business people, comprising C-level executives, investors, analysts, product managers, and aspiring digital entrepreneurs in 2022 alone | He is also Director of Sales for a high-tech scaleup in the AI Industry | In 2012, Gennaro earned an International MBA with emphasis on Corporate Finance and Business Strategy.
