Sam's Club on track to be $100B business

Sam's Club (NYSE:WMT) is on track to become a $100 billion retailer as it looks to nearly double sales at its membership club stores.

The retailer currently boasts annual revenues of $57 million and comprises roughly 12 percent of Walmart's total sales. But the goal, according to Rosalind Brewer, president and CEO, is much, much bigger.

Brewer appeared on CBS This Morning Thursday to discuss Sam's growth possibilities, its new microbusiness tracker and the retailer's omnichannel strategy. Digital, or online sales, could soon comprise as much as 20 percent of Sam's total business, she said. "For us, we've always had a SamsClub.com," Brewer said. "We've sold online. But we do think that with 620 units in the U.S. – that's the number of clubs that we have in the U.S. – we think there is a business for us that combines both."

"Currently, you can buy online and pick up in-club and have your delivery ready for you when you're there. We think that there is more work to be done in that space where we combine what happens online and what happens in our club, so really making it easier for our members to access goods the way they want to access goods."

Sam's Club unveiled a new quarterly tracking poll focused on microbusinesses Thursday. There are more than 25 million microbusinesses in the U.S., and a large component are Sam's members. The poll is intended to better understand their needs.

"Sam's Club has served microbusiness members for more than 30 years," she said. "We're always conducting research with members to understand their needs and concerns. These are issues important for our member base and we want to know what's happening in their space."

For more:
-See this CBS This Morning video

Related news:
Sam's Club's new 'Microbusiness Tracker' helps define member needs
Walmart: Improving in-stocks a $3B opportunity
Walmart: A relentless focus on change
What social media means to Walmart
Walmart's Savings Catcher compares competitors' prices

Suggested Articles

Costco changes up its menu items, and Alibaba and Guess partner for a physical store.

Janey Whiteside, Walmart's new chief customer officer, is well acquainted with the importance of customer service in modern retail.

Whole Foods will offer deals on Amazon's Prime Day, and tariffs against China are causing pricing hikes.