Walmart Increases Pay for Market Managers
Walmart is sweetening the pot for some of its top-performing market managers. Those associates can now make between $420,000 and $620,000 per year with full bonuses, according to a Wall Street Journal report.
The retailer’s market managers oversee multiple stores within a region. According to the report, their annual base pay is also being increased to $160,000 per year, up from $130,000, and the maximum base pay they can make will stay at $260,000.
Walmart rode the wave of its growth in the second quarter of fiscal 2025 with a strong Q3 led by a 5.5% lift in total revenue. For the 13-week period ended Oct. 25, Walmart also saw comp sales increase 5.3% year-over-year, with positive growth in general merchandise.
In Q3, e-commerce sales at Walmart U.S. grew 22%, led by store-fulfilled pickup and delivery, as well as marketplace purchases. Operating income was up 9.1% with expansion of gross margin and membership income, lower losses in e-commerce, and an improved business mix.
Walmart has been experiencing a large percentage of market share gains coming from higher-income customers for several quarters now. For its third quarter, households earning more than $100,000 made up 75% of share gains.
Each week, approximately 255 million customers and members visit Walmart’s more than 10,500 stores and numerous e-commerce websites in 19 countries. With fiscal year 2024 revenue of $648 billion, the retailer employs approximately 2.1 million associates worldwide. Bentonville, Ark.-based Walmart U.S. is No. 1 on Progressive Grocer’s 2024 list of the top food and consumables retailers in North America. PG also named the company one of its Retailers of the Century.
