Walmart Releases Q4 FY26 Earnings
We are delivering momentum on a sound strategy and strong financial performance.
We delivered solid sales growth, while driving operating income growth faster than sales. Our business mix continues to evolve, as we deploy capital toward the highest returns. We are enhancing customer and member experience through our strengths in digital and an integrated, omnichannel ecosystem.
Building
customer trust
Value and convenience of our omnichannel strategy continues to resonate with customers and members.
Evolving
business mix
Diversifying revenue and profit sources, while strengthening our omnichannel leadership position.
in the U.S. grew 41%.
Driving
higher returns
Targeting growth investments toward areas of higher return, while realizing cost savings on disciplined execution.
Investing
in our future
Increasing competitive advantages, innovating new customer and member experiences while deploying productivity-enabling technologies.
We continued to provide value and convenience for customers and members. Digital solutions are accelerating sales momentum and setting Walmart up uniquely well to serve customers as technology adoption increases.
We delivered strong results in Q4 FY26, with momentum across the business driven by digital. Top-line performance reflected strong sales and favorable general merchandise trends. We demonstrated the strength and resilience of our business model by managing inventory levels and costs, while growing eCommerce across segments.
Walmart U.S.
Sales growth in Walmart U.S. reflects acceleration in eCommerce, including growth in store-fulfilled delivery and advertising. Fourth quarter FY26 represented the eighth consecutive quarter of eCommerce growth above 20% for the segment.
Sam's Club U.S.
Membership grew in Q4 FY26, reaching record highs during the quarter. Digital solutions, both inside the club with Scan & Go along with Curbside Pickup and delivery, continued to resonate with members. Adoption of Scan & Go and club-fulfilled delivery both grew in the quarter.
Walmart International
Walmart International delivered solid top-line results, led by strength in China, Walmex and Flipkart. Contributions from business mix and timing of seasonal events, along with growth of membership fee revenue, drove strong operating income growth of approximately 26% (constant currency)1.
28% (constant currency)1
Diversifying
profit sources
The resilience of the company’s omnichannel strategy is illustrated by growing business mix contributions that continue to diversify profit sources, including advertising income and membership fees. Membership fee revenue grew across the enterprise in Q4 FY26, strengthened by Walmart International primarily on growth in Sam’s Club China memberships.
Q4 FY26 earnings resources
Related financial news
Find out more about previous earnings announcements, investments and other news from FY26.
Our results in Q4 FY26 illustrate the underlying strength of our business. We continue to balance our ongoing investments with improved, tech-powered experiences for customers, members, and associates that we expect to expand margins and increase returns for shareholders in the years ahead.
Saving customers
time and money
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Transforming
customer experience
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Enabling
customer choice
Sam’s Club reaches 100% ‘Made Without’ milestone, setting a new private brand standard for the retail industry.
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Constant Currency is a non-GAAP measure. See additional information at the end of the release regarding non-GAAP financial measures.
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Adjusted Operating Income is a non-GAAP measure. See additional information at the end of the release regarding non-GAAP financial measures.
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Our global advertising business is recorded in either net sales or as a reduction to cost of sales, depending on the nature of the advertising arrangement.
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Calculated for the trailing 12 months ended January 31, 2026. ROI is considered a non-GAAP financial measure. See additional information at the end of the release regarding non-GAAP financial measures.
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Comp sales for the 13-week period ended January 30, 2026, compared to the 13-week period ended January 31, 2025, and excludes fuel. See Supplemental Financial Information for additional information.
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Free cash flow is a non-GAAP measure. See additional information at the end of the release regarding non-GAAP financial measures.
