Walmart is quintessentially American in its vastness. Last year the supermarket chain made $421 billion in net sales, more than five times those of Tesco. It owns land worth more than $100 billion and employs about 1.6 million people in the United States, making it the country’s largest employer.
It traces its origins to a small discount retailer in 1960s Arkansas, but today it runs more than 105,000 stores, with operations in Africa, Canada, Central America, China and India. It was the owner of Asda before selling the British grocery chain in 2020, but retains a stake in the business.
Profits are huge and growing. In the final quarter of its 2023 financial year, adjusted operating income grew by 13 per cent to hit $7.3
