The virtuous circles driving growth at Walmart

Walmart CEO Doug McMillon told investors on May 16, with not much hyperbole, that his company had “delivered a great quarter to start the year”.  The American retail giant under-promised and over-delivered yet again. Consolidated revenue for the first quarter ending April 30 rose by 6.0 per cent, year over year, to US$161.5 billion, with the extra Leap Year day this year contributing about 1 per cent of the growth. Gross margin rose by 42 basis points, to 24.1 per cent. Profit was much

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