Walmart (WMT) Oppenheimer 26th Annual Consumer Growth and E-Commerce Conference summary

Leadership and strategic vision

• New U.S. CEO brings experience in manufacturing, digital retail, supply chain, and e-commerce, shaping a customer-centric and innovation-driven approach.

• Focus remains on leveraging technology to simplify work for associates and enhance customer convenience.

• Strategy centers on building upon strengths and delivering value and convenience for millions of customers.

Consumer environment and performance

• U.S. comp sales grew 4.1% in Q1, accelerating to 5.1% excluding fair pricing, with broad-based category momentum.

• Higher-income customers remain confident, while lower-income groups are more pressured and making trade-offs.

• Omnichannel strategy and value proposition drive strong traffic and share gains, especially in general merchandise.

E-commerce and omnichannel growth

• E-commerce sales grew 26% in Q1, now representing 25% of segment sales, with four consecutive quarters above 25% growth.

• Store-fulfilled delivery and marketplace advertising both grew nearly 50%.

• Investments in value, convenience, and assortment, including 7,200 Rollbacks and affordable meal solutions, support sustained momentum.