Walmart Remains Unbeatable
Posted on 06/30/2023
Walmart topped Amazon again with US$ 611 billion in annual revenue to remain the world’s most profitable company. While Walmart stock has doubled in the last 10 years, it has a dividend of only 1.5%
Walmart will have to innovate to maintain its top spot. Shoplifting has become a major problem for retailers, including organized retail theft. Walmart has been focusing on reducing theft at the self-checkout line, a priority it established. Walmart has also been closing stores in certain locations.
Walmart has also been revamping its online store in recent years, attempting to compete with Amazon. Earlier this year, Walmart launched Walmart Business, catering to small and medium-sized businesses.
Criticism of Walmart typically comes as a result of its generally low prices, which makes it difficult for local shops to stay in business. Others say some similar items can be purchased from dollar stores for less. For the time being, at least, Walmart is succeeding despite these topics of concern.
Recent buyers include Irish Life Investment Managers, with assets under management of €101 billion. Irish Life picked up 219,900 Walmart shares in April, 2023, on behalf of clients. Irish Life explains “We work for a wide range of institutional clients including insurance companies, wealth managers, pension schemes, fiduciary managers and sovereign wealth funds across Europe and North America.” Irish Life still has room to go to match Norway’s US$ 1.2 trillion Government Pension Fund Global’s position of 17,988,929 shares.
