Walmart’s 2026 Annual Report Highlights eCommerce Growth, AI Momentum, and Renewed Store Expansion

Walmart’s fiscal 2026 annual report points to a retailer moving deeper into its next phase of omnichannel growth, where stores, eCommerce, fulfillment, and artificial intelligence are becoming more closely connected.

The company reported strong eCommerce momentum, fresh investment in physical stores, and a sharper focus on AI-led retail experiences. CEO John Furner described the moment as “pivotal,” noting that artificial intelligence is changing both how customers shop and how Walmart associates work.

1. Walmart’s U.S. eCommerce business continues to strengthen

One of the biggest takeaways from the report is the growing role of Walmart’s U.S. eCommerce business.
Walmart U.S. eCommerce contributed 4.3% to comparable sales growth in fiscal 2026, up from 2.9% in fiscal 2025. This shows that digital sales are becoming a more meaningful driver of Walmart’s overall U.S. performance.

The growth was mainly driven by store-fulfilled pickup and delivery. This is important because Walmart’s physical store network is becoming a fulfillment advantage. Instead of treating stores and eCommerce as separate channels, Walmart is using stores as local fulfillment points to improve speed, convenience, and delivery economics.

Globally, Walmart’s eCommerce growth was even stronger. The company reported 24% global eCommerce growth, reaching $150.4 billion. Total revenue rose 5.1% on a constant currency basis to $715.9 billion.

The report also suggests Walmart’s eCommerce profitability is improving. According to Jefferies analysts, higher delivery density, better routing, order batching, and express delivery fees are helping improve margins. Around one-third of Walmart deliveries reportedly include an express fee, giving the company an additional revenue lever as demand for faster delivery grows.

2. Walmart is investing heavily in stores, supply chain, and technology

While eCommerce is growing quickly, Walmart is not moving away from physical retail. In fact, the company is increasing investment in new stores, clubs, expansions, and relocations.

Capital allocation toward new stores and clubs in the U.S. rose about 212% year over year to roughly $1.4 billion in fiscal 2026. This followed a 500% increase in fiscal 2025, showing that Walmart is once again treating store expansion as an important part of its growth strategy.

However, Walmart’s largest capital expenditure category remains supply chain, customer-facing initiatives, technology, and related investments. This category increased nearly 13% in fiscal 2026.

AI is a major part of this technology push. Walmart is focusing on agentic AI, including its customer-facing AI assistant, Sparky. According to the article, Sparky users generate about 35% higher baskets, suggesting Walmart sees AI as a way to increase purchase frequency, improve shopping discovery, and capture demand more effectively.

Rather than treating AI as only a marketing tool, Walmart appears to be positioning it as a commerce infrastructure layer. That means AI could influence search, product discovery, replenishment, personalization, customer service, and associate productivity.

3. Supercenters are returning to growth

Another key takeaway is the return of Walmart Supercenter growth in the U.S.
Walmart added seven Supercenters compared with the previous fiscal year’s ending count. This marks a shift from fiscal 2025, when the Supercenter count had slightly declined from fiscal 2024.

The company opened its first new Supercenter in four years in April 2025 in Cypress, Texas. The store was built under Walmart’s “Store of the Future” model and included localized features such as a Hispanic bakery section and a fresh tortilla maker.

This shows Walmart is not simply opening more stores for scale. It is also rethinking how stores should serve local markets, support digital fulfillment, and improve the in-store shopping experience.

Walmart’s total U.S. unit count, including Sam’s Clubs, grew less than 1% year over year to 5,212 locations. So while store growth remains measured, the return of Supercenter expansion is still notable.

What this means for Walmart’s strategy

Walmart’s fiscal 2026 performance shows a clear shift toward a more integrated retail model.
The company is using stores to power eCommerce fulfillment, investing in AI to improve shopping and operations, and selectively expanding its physical footprint where stores can support both local shopping and digital demand.

For marketplace sellers and brands, this matters because Walmart is becoming a more sophisticated omnichannel platform. Growth is no longer limited to in-store retail or traditional marketplace listings. Sellers may increasingly need to think about pickup and delivery readiness, faster fulfillment, retail media, AI-led discovery, and localized customer demand.

In short, Walmart’s 2026 annual report shows a company doubling down on the strengths that make it difficult to compete with: a massive store network, growing digital sales, stronger fulfillment economics, and rising investment in AI-powered commerce.

Source: https://www.retaildive.com/news/walmarts-annual-report-ecommerce-store-investments-AI/818542/