Walmart's Biggest News of 2024 Has Nothing to Do With Its Stock Split -- and It Could Boost the Giant Retailer's Fastest-Growing Business
In January, Walmart (NYSE: WMT) caught many investors' attention when it announced plans to split its stock. Although the company has conducted multiple stock splits in the past, its most recent was nearly 25 years ago.
However, Walmart's biggest news of 2024 so far has nothing to do with its 3-for-1-stock split. The company's most momentous announcement offers an opportunity to boost the giant retailer's fastest-growing business.
Before we get to that major announcement, let's take a quick look at Walmart's fastest-growing business. It isn't the company's brick-and-mortar retail stores. Walmart's stores still generate the lion's share of total revenue. However, this part of the company's business isn't its top growth driver, whether we're talking about U.S. or international stores. It isn't Sam's Club, either.
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