Walmart’s focus on membership programs yielded significant returns in the third quarter of fiscal 2026. Membership income grew 17% year-over-year, reinforcing the increasing importance of fee-based revenues for the retailer's profitability.
The overall surge was driven by strong performance both internationally and domestically. International membership income climbed 34%, largely propelled by member growth and engagement at Sam's Club in China.
In the United States, Walmart+ contributed with double-digit income growth. Combined with advertising, these high-margin membership fees now account for approximately one-third of Walmart's consolidated adjusted operating income, signaling a successful strategic pivot.