In a recent interview with Jim Cramer, Walmart Inc (NYSE:WMT) CEO Doug McMillon expressed his confidence in the company’s advertising sector. This comes after the retail giant’s strong performance in the digital and e-commerce space.
"When you grow your digital reach, and you've got an e-commerce business that's scaling like ours is," McMillon said.
"You get an opportunity to sell advertisements, and we can connect the dots for advertisers."
McMillon revealed that Walmart’s global advertising business witnessed a 28% increase over the year. The company’s e-commerce sales also surpassed $100 billion for the first time. To further bolster its advertising business, Walmart announced the acquisition of TV manufacturer Vizio for $2.3 billion.
"If [advertisers] advertise with a digital ad, for example, and a customer transacts a week later in a store or club, we can connect that up for them and let them know that the ad really worked," McMillon said.
"That's the differentiating advantage that we've got."
The CEO attributed Walmart’s success to its extensive reach and its ability to accurately measure the effectiveness of advertisements. He also acknowledged the company’s ability to attract and retain customers across various income brackets, as well as its focus on convenience.
Walmart’s Q4 earnings report also impressed analysts, with Goldman Sachs’ Kate McShane reiterating a Buy rating on the company’s stock. The report showed a fourth-quarter adjusted EPS of $1.80, surpassing both McShane and Wall Street consensus estimates.
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