Walmart's fourth quarter e-commerce sales growth came in at 69%. High as it looks, that number is still the lowest Walmart has posted since the beginning of the coronavirus pandemic. The retailer's e-commerce business has yet to turn a profit, though margins are improving. All told, Walmart earned $1.29 per share in the fourth quarter – less than analysts had predicted. The earnings miss hasn't fazed Walmart, which is planning big investments to solidify the gains it made during the pandemic, as well as increased wages for hourly associates. CEO Doug McMillon also pointed to Walmart's membership program Walmart+ as a key part of the retailer's strategy.
“This is a time to be even more aggressive because of the opportunity we see in front of us,” he said in a news release. “The strategy, team and capabilities are in place. We have momentum with customers, and our financial position is strong.”