Walmart Will Derive More Profit From Services, Ad Sales in Next 5 Years: CFO
NEW YORK—More of Walmart’s future profitability is likely to come from its sales of ads on Walmart.com and from fees it collects from merchants using its online marketplace and delivery services, than from sales of merchandise at its 10,000 stores, its chief financial officer said on Tuesday.
“Today, the vast majority of our overall profits are attributable to in-store brick-and-mortar in the U.S.,” John David Rainey, Walmart’s CFO, said at a Raymond James Conference.
“If you fast forward 5 years, we are much less dependent on that as an income stream than some of these other faster-growing parts of our business.”…