15 Crazy Facts About Walmart’s History and Where It’s Headed Next

Walmart’s earnings statement for the 2018 fiscal year (ending Jan. 31, 2018) clarified the role of Jet.com and other recently acquired startups.

“Walmart.com, including online grocery, is and has been the key driver of our ecommerce growth, and that will continue,” McMillon said in the statement. “The Jet brand over-indexed with higher income, urban, millennial customers when we made the acquisition and we intend to build on that strength going forward.”

McMillon explained that while the Walmart brand has national reach, the company is investing its marketing dollars for Jet in urban areas. Growth will be slower going forward, he said, but targeted.

Meanwhile, brands such as Bonobos and Modcloth “bring unique, private branded products” to Walmart’s offerings to extend the company’s reach to new demographics.