Walmart (NYSE: WMT) reported its latest quarterly earnings on February 20. For the year ended January 31, 2024, Walmart's revenue was $648.1 billion, up 6%; Operating profit was $27.1 billion.

For the Q4 quarter ended January 31, 2024, Walmart's revenue was $173.4 billion, up 5.7% from $164 billion a year earlier.

In the fourth quarter ended January 31, 2024, Walmart's revenue from the United States was $117.6 billion, up 3.4% from $113.7 billion in the same period last year. Operating income was $6.1 billion, up 12.9% from $5.4 billion a year earlier.

For the Q4 quarter ended January 31, 2024, Walmart's operating profit was $7.254 billion, up 30.4% from $5.561 billion in the same period last year. Consolidated net income was $5.678 billion, down 2.3% from $5.8 billion a year earlier.

Walmart China Q4 net sales were $4 billion, up 11.3% year-over-year, with comparable sales up 6.6% and e-commerce net sales up 11%.

Throughout the quarter, Sam Formats and e-commerce businesses continued to perform strongly. At the results meeting, Walmart Global CEO Doug McMillon said that at the end of 2023, Walmart had 47 Sam's stores in China, and the performance of these stores continued to maintain strong growth. "We are by far one of the leading membership club operators in China, with 28 years of operating experience in China."

He also revealed that next year, Walmart will open about 230 Walmart stores and Sam's Stores outside the United States. In the Chinese market, Sam will be the main store.

This is in line with Walmart China's previous disclosures. The company said last year that it expects six to seven new Sam's stores to open each year in the future. In other words, Sam will open a "raging" mode in China, from the first store opened in 1996 to 46 stores in December last year, Sam's original average annual store number is only 1.7.

In addition to the e-commerce business, Wal-Mart Chief Financial Officer John David Rainey revealed that China's e-commerce business penetration has reached a record high of 48%.