Walmart is now the US company with the highest sales

A 2024 study recently found that a major U.S. retailer is making a lot of money, with annual gross sales expected to exceed $648 billion in 2023.

READ MORE: Walmart launches new brand: This is what they sell

2024 has been a strange year. We’ve seen many companies close while others seem to be doing quite well. Online United States Casinos recently took a deep dive into the top-grossing companies in the United States, and I wasn’t at all surprised by who made it to the top of the list. This company has been around for decades, and it seems that recent economic difficulties have had little impact on its operations and revenues.

Walmart is the US company with the highest sales

Data for this study was collected using Crunchbase, which provides insights into companies from early-stage startups to Fortune 1000 companies. The data showed that Walmart is now the top-selling American company, operating 10,500 stores worldwide and over 4,500 in the U.S. alone. (Indiana has a total of 113 stores, according to Walmart.) Other top-selling companies on the list included Amazon, which was just behind Walmart, followed by Apple, UnitedHealth Group and Berkshire Hathaway.

How much did Walmart earn in 2024?

Walmart reported gross sales of $648 billion for fiscal year 2024, up 6% from 2023. It’s safe to say the company is doing very well financially, but much of that is likely due to price increases. Since 2020, the company has drastically increased prices due to inflation. For example, I vividly remember paying $0.50 for a pack of Blue Bonnet Original Vegetable Oil Spread in 2020, which now costs $1.28 per pack. That’s a 156% increase.

Recently, the annual inflation rate dropped below 3%, the lowest since 2021. With that in mind, Walmart CEO Doug McMillon announced price cuts on 7,200 items, which is welcome news. I know my grocery bill could certainly use a break, and I’m sure yours could, too. However, the retailer has been accused of “price gouging” in the past, so this could just be a way to appease some angry shoppers. Either way, I’ll take it. You can find Walmart’s full second-quarter report HERE.