Walmart Inc. (NYSE: WMT), is the largest brick-and-mortar retailer in the world. In fiscal year 2018, the company reported nearly $500.3 billion in revenue from its operations in 28 countries and e-commerce websites. As of 2018, Walmart has 11,700 store locations.

The vast majority of Walmart stores operates under the Walmart name, including large-format Walmart Supercenters and small-format Walmart Neighborhood Markets. Walmart also operates stores under the domestic and international subsidiary companies described below. Let us take a deeper look at some of Walmart's key subsidiaries and what they contribute to the brand.

1. Sam's West, Inc.

Sam's West, Inc., a wholly owned Walmart subsidiary, operates the Sam's Club chain of membership warehouse stores. It is one of the biggest membership warehouse operator in the United States behind Costco Wholesale Corporation. As of Jan. 2018, Sam's West has 597 Sam's Club locations in 44 U.S. states. It also operates stores in Mexico, Brazil and China, and e-commerce websites in the United States and Mexico.

Walmart reported net sales of $59 billion from Sam's Club during the 2018 fiscal year. Walmart does not report separate operating results for the subsidiary's international operations. Aside from promotional periods and certain local exceptions, shopping at a Sam's Club location requires a Sam's Club membership. As of May 2018, annual Sam's Club memberships were available in the United States at two price levels: $45 and $100. Walmart reported global membership revenue of nearly $4.6 billion in the 2018 fiscal year, an increase of more than 0.6% over the previous year.

2. Walmart de México, S.A.B. de C.V.

Walmart de México, S.A.B. de C.V. operates Walmart's Mexican and Central American businesses. Walmart de México's predecessor company was established in 1952 under the name Cifra. Walmart entered a joint venture with the publicly traded Cifra in 1991 to open Walmart branded stores in Mexico. In 1997, Walmart acquired a majority stake in Cifra itself, with the remainder of the company's shares remaining on the Mexican Stock Exchange. At the end of the 2015 fiscal year, Walmart Inc. reported a controlling 70% stake in Wal-Mart de Mexico.

Walmart de Mexico operates 2358 store locations in Mexico and another 731 locations in five countries in Central America. In addition to Walmart and Sam's Club stores, Walmart de Mexico operates supermarkets under the Bodega Aurrera and Superama brands, and clothing stores under the Suburbia brand. Walmart de Mexico reported revenue of nearly 573 billion Mexican pesos in 2017.

3. ASDA Stores, Ltd.

ASDA Stores, Ltd., is a retailer based in England. It has operated as a wholly owned Walmart subsidiary since 1999. As of 2017, ASDA had 525 store locations across the United Kingdom. It operates grocery stores and general merchandise stores, as well as large-format superstores selling food and general merchandise.

While ASDA stores carry products from a wide range of brands, ASDA's private-label products make up the majority of its inventory. ASDA manufactures thousands of packaged food products and household products for sale in its stores. It sells clothing under the George brand, homeware under the Elegant Living brand and children's products under the Little Angels brand. It also operates a financial services division, ASDA Money. Wal-Mart does not report separate operating results for its ASDA Stores business.


In 2016, Walmart acquired, one of the fastest growing U.S. e-commerce companies for $3 billion in cash, attempting to compete with Amazon for a larger share in the e-commerce market. Walmart's acquisition of is the second-largest e-commerce acquisition in U.S. history, following PetSmart's $3.35 billion acquisition of Chewy in 2017. 

5. FlipKart

On May 9, 2018, Walmart agreed to pay $16 billion for a controlling stake of 77% in India's leading Internet retailer FlipKart. Walmart outbid Amazon for FlipKart, making its way into operating outlets in one of the fastest growing economies in the world. Walmart was restricted by local regulatory rules from running wholesale stores in India before. The deal was accidentally confirmed by Softbank CEO, Masayoshi Son, hours before the official announcement, during an investor call. Softbank is the largest investor in the Bengaluru-based online retailer, owning 20% of the company.