Walmart CEO Doug McMillon is confident in the company’s advertising sector, citing the unique advantages that Walmart holds in the domain. In a recent interview with Jim Cramer, McMillon highlighted the expanding digital reach and growth of the e-commerce business as key factors driving the company’s advertising sales.
McMillon pointed out that Walmart’s global advertising business saw a 28% increase over the year, with e-commerce sales surpassing $100 billion for the first time. To further strengthen its advertising business, Walmart recently announced the acquisition of TV manufacturer Vizio for $2.3 billion.
The CEO emphasized Walmart’s ability to accurately measure the effectiveness of advertisements and connect the dots for advertisers, showcasing the company’s extensive reach and focus on convenience. He also acknowledged Walmart’s success in attracting and retaining customers across various income brackets.
McMillon’s positive outlook on Walmart’s advertising business follows a series of strategic moves and strong financial performances by the retail giant. Walmart reported better-than-expected holiday sales earlier this year, including two record-breaking volume days leading up to Christmas. The company’s Q4 earnings report also impressed analysts, with Goldman Sachs’ Kate McShane reiterating a Buy rating on the stock.
McMillon’s leadership has been instrumental in Walmart’s success, with his dedication to the company and strategic vision playing a crucial role in its continued growth. From unloading trucks at a Walmart distribution center as a teenager to becoming the CEO, McMillon’s rise has been a source of inspiration for many.
Overall, Walmart’s strong performance in the digital and e-commerce space, coupled with its focus on advertising sales, positions the company for continued success in the advertising sector. With McMillon at the helm, Walmart is well-positioned to capitalize on its unique advantages and drive growth in its advertising business.
