Zaid

He also launched Walmart Plus, which was their answer to Amazon Prime, which is estimated to have over 25 million subscribers today.

but I think the best decision that he made was leveraging Walmart's physical stores.

A fun fact, 90% of Americans live within 10 miles of a Walmart.

So Doug McMillan spent billions of dollars to transform those 5,000 plus stores in the US into hyper-efficient distribution hubs to fulfill online orders.

And by doing that, that allowed Walmart to deliver orders within hours, not days, including groceries.

Walmart's footprint became a competitive advantage compared to Amazon, which lacked physical

I'll be honest with you guys, I subscribe to Walmart Plus and I get my groceries delivered from them weekly.

They're not paying me to say this, but if someone from Walmart is listening, my DMs are open.

So yeah, all that investment that Walmart made over the last decade in their e-commerce business and technology and improving their supply chain, it's all starting to pay off.

During Doug McMillan's tenure as CEO, e-commerce sales went from about $10 billion in 2014 to over $150 billion in 2025.

And that's not the only impressive stuff about Walmart's business.

So let's dive into the numbers.

Walmart stock has outperformed the S&P 500 and other major retailers over the past year.

And what's impressive is this is happening during a bull market driven by AI hype and semiconductors and data centers.

Yet it's Walmart catching the attention of investors trading at historically high valuations.

So let's take a closer look at their business and why that might be happening.

The company just reported their earnings and in 2025, revenue was up 4.7% to $713 billion.

E-commerce was the bright spot.

It grew by 23% in Q4 globally and 27% here in the US.

In fact, it was the eighth consecutive quarter of e-commerce growth above 20%.