Walmart's Membership Gains Scale: Is It the Next Major Profit Engine?

Walmart Inc. WMT continues to broaden its earnings mix beyond traditional retail, with membership becoming a more meaningful contributor to its overall business. Growth across Walmart+ and Sam's Club is adding fee income while strengthening customer engagement and supporting the company's expanding digital ecosystem. Global membership fee revenues increased 17% year over year in the second quarter of fiscal 2027 and reached an all-time high. Walmart+ continued to post double-digit growth in the United States, supported by record second-quarter net additions. The program also delivered its strongest first-half membership growth since its launch. Walmart U.S. membership and other income rose 15.6%.