Keckley Report May 10, 2021
When Sam Walton opened his Ben Franklin Variety Store in Bentonville, Arkansas in 1945, few imagined it would evolve to a global powerhouse operating from 11,400 retail locations in 26 countries serving 240 million customers weekly. In FY2021, its global operations produced $559 billion in revenues and $36 billion in free cash flow: U.S. operations accounted for $370 billion of these revenues and $29 billion of its free cash flow from activities in its 5342 U.S. store locations and eCommerce activity.
Last Thursday, Walmart (WMT) announced it plans to acquire telehealth provider MeMD and offer nationwide virtual health care services. Though terms of the deal were not disclosed, it’s no surprise. The company’s footprint in U.S. healthcare services has evolved...
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