Walmart’s value proposition leads to strong quarterly report 

Walmart, Inc. BB #:143789 Bentonville, AR posted strong sales growth in its FY 2026 Q3 financial report, released November 20, 2025.

Revenue for the quarter rose 5.8 percent, comparable sales was up 4.5 percent, and global ecommerce grew 27 percent. The strong numbers led to Walmart raising its growth outlook for the fiscal year. 

The retailer attributed its gains to consumers being drawn to its fresh food, everyday low prices, and increased convenience. 

“eCommerce was a bright spot again this quarter,” said Doug McMillon, president and CEO. “We’re gaining market share, improving delivery speed, and managing inventory well. We’re well-positioned for a strong finish to the year and beyond that.” 

McMillon also acknowledged his transition away from being CEO early next year, as John Furner will succeed him in the role. 

“I’m as excited about the future of this company as I’ve ever been,” McMillon said. “John Furner is a fantastic leader with a proven track record. I couldn’t be happier for him and for Walmart.” 

In an interview with the Wall Street Journal, Chief Financial Officer John David Rainey said Walmart saw some pullback in spending from lower-income consumers, but it made gains with higher-income consumers. 

He said that disparity was stronger near the end of the quarter, as the pause in federal funding affected consumers in the SNAP program. 

Rainey said food prices are about 25 percent higher than five years ago. 

“I think the consumer continues to be pressured,” he told the WSJ.  

Consumers are looking to do business with companies that provide value, convenience, and store execution, Rainey said. 

Rainey said the impact of tariffs hasn’t been as great as many expected, as Walmart absorbed some expenses and passed some others on. 

On November 20, the retailer also announced it is moving its common stock from the New York Stock Exchange to the Nasdaq, effective December 9. 

“Moving to Nasdaq aligns with the people-led, tech-powered approach to our long-term strategy,” Rainey said.