"Walmart's digital business exploded 27% in Q3, driven by store-fulfilled delivery, marketplace expansion, and aggressive investments in digital infrastructure. The company spent $18.6 billion on capital expenditures this year, much aimed at logistics and technology supporting same-day delivery and pickup. CFO John David Rainey emphasized "enhancing the digital customer experience" during the earnings call. Costco's e-commerce grew 13.6% in F4, solid but far slower than Walmart's pace."
"Costco's strategy revolves around membership fees and bulk purchasing. The model creates predictable revenue and keeps customers locked into the ecosystem. Net income grew 10.9% to $2.61 billion, and profit margin held at 2.94%. Operating margin of 3.88% reflects the thin-margin, high-volume approach that has worked for decades. Walmart's net income surged 33.0% to $6.09 billion, though operating income stayed flat due to share-based compensation charges related to PhonePe."
Costco leaned into its membership warehouse model, operating 914 global warehouses and prioritizing in-store bulk buying while e-commerce grew 13.6% in F4. The membership model generated predictable revenue, with net income rising 10.9% to $2.61 billion, profit margin at 2.94%, and operating margin at 3.88%. Walmart delivered 27% digital growth in Q3 through store-fulfilled delivery, marketplace expansion, and heavy investment in logistics and technology, spending $18.6 billion in capital expenditures. Walmart's international sales rose 10.8% to $33.5 billion, Sam's Club added $23.6 billion, and net income jumped 33% to $6.09 billion.
Read at 24/7 Wall St.
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