Walmart’s share of the U.S. retail market has risen from zero in October 2018 to 12 percent today, according to data released today by the company.
The latest Walmart data also shows that the company’s profit rose to $2.6 billion for the first quarter of 2019, up from $1.5 billion a year ago.
The increase comes after Walmart’s stock soared by nearly 1,000 percent over the course of 2017, when President Donald Trump took office.
In a statement, Walmart CEO Doug McMillon said that the retail giant was pleased with the progress that has been made in the last year.
“The company’s financial results and outlook continue to support our confidence that we can continue to deliver meaningful returns to shareholders,” McMillon wrote.
“The company is investing heavily to grow our business in the years ahead and is looking forward to our shareholders’ continuing support.”
Walmart’s stock gained 1,936 percent during the Trump era, which ended in January 2021.
The company reported sales of $9.4 billion in 2019, a record high.
In 2019, Walmart had a market share of just 3.9 percent, a mark that is more than double that of its closest competitor, Walmart, which had a share of 9.4 percent.
The retail giant’s market shares in the U