Walmart Inc (Walmart), an American multinational retail corporation that operates grocery stores, supermarkets, hypermarkets, department and discount stores, and neighborhood markets based in the United States, closed 1 existing store in FY2022, similarly, the company also closed around 13 stores in 2021. Walmart markets products under various private labels and licensed brands including Equate, Bonobos Fielder, Mainstays, George, Onn, Parent’s Choice, Time and Tru, Wonder Nation, and No Boundaries. Comparing FY2022 to the prior fiscal year, the Walmart U.S. segment's net sales increased by $23.3 billion (6.3%) in FY2022 which was driven by growth in average tickets and transactions.
In FY2022, the 1 store was closed owing to the decrease in store traffic caused by the spread of the Omicron variant and restrictions in most markets, and customers combined their shopping trips and made larger basket purchases in the first quarter of fiscal FY2022, which increased the average ticket while a decrease in transactions. Walmart continues to put a strong focus on providing customers with a smooth omnichannel experience, which has helped Walmart's U.S. e-commerce sales positively contribute approximately 0.7% to sales volumes for FY2022.
By the end of FY2022, Walmart Inc operated 4,742 stores in the US, down from 4,743 operational stores in 2021. Of the 4,742 stores in FY2022, in the United States segment, Texas had the highest number of Supercenters stores with 391 stores, followed by Neighborhood Markets and other small formats stores with 110 stores, and California had the highest number of Discount Stores with 68 stores.
In FY2022 revenues increased by 6.4% compared to FY2021, which were fueled by increases in average ticket and transaction volumes, increased consumer spending brought on by government stimulus, and larger inflation impacts in some product categories than in previous years. The increase in the gross profit rate for the fiscal year 2022 was primarily attributable to price management, which was driven by cost inflation, as well as merchandise mix, which includes making up for the temporary closures of our Auto Care and Vision Centers and growth in their advertising business, which was partially offset by higher supply chain costs.
Walmart's fiscal year ends on January 31
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