Walmart Accelerates Growth with Strong Retail Foundation and Emerging Businesses

Walmart recently reported a successful second quarter for fiscal year 2027, with the company's CEO John Furner highlighting the strength of its retail foundation alongside faster-growing businesses like Marketplace, advertising, and membership.

In a conference call on August 20, 2026, Furner emphasized that Walmart's strategy is "proving out" and that the company has been investing in it for years. He noted that the math behind these businesses working together is not simply one plus one equals two, but rather how they strengthen each other and expand what the company can do as a whole.

The quarter saw significant growth across various segments, with membership fee revenue reaching an all-time high of 17% year-over-year. eCommerce sales grew 23% globally, including Walmart U.S.'s 10th consecutive quarter of growth over 20%. The reach of platform businesses like Walmart+ and Marketplace was expanded to markets outside the United States, demonstrating how these capabilities can drive growth.

Walmart's core retail business also had a strong quarter, with sales growth at the top end of guidance, up 5% in constant currency. Comp sales for Walmart U.S. were 2.6%, led by transactions, and Sam's Club U.S. delivered comps of 4.4%. International was up 7.9%, led by China and India.

Adjusted operating income grew 17.4% in constant currency, with the company benefiting from the receipt of tariff refunds in the quarter. While changes in regulation around Maximum Fair Price for certain drugs negatively impacted comp sales by 125 basis points, Walmart's underlying profit growth was in line with expectations, excluding this benefit.

Furner expressed confidence in the company's model to drive durable, long-term growth and shareholder value. He noted that as these businesses scale, they become a more meaningful part of the company's mix and change the shape of its business.

The results demonstrate Walmart's ability to innovate and adapt to changing consumer behaviors, while also maintaining its core retail strengths. As the company continues to invest in emerging businesses and expand its capabilities globally, it is poised for continued growth and success.