Walmart launches Walmart+, Sam's Club Plus joint membership

Key Points:

• Walmart has launched a new joint membership combining Walmart+ and Sam's Club Plus for $120 per year, offering significant savings compared to purchasing memberships separately, though monthly payments are not available for this plan.
• The combined membership provides access to Sam's Club warehouses, free delivery from both retailers, streaming service subscriptions, gas savings, and 2% cash back on eligible Sam's Club purchases.
• This initiative aims to enhance convenience and value for shoppers, particularly amid economic pressures like high gas and food prices, allowing Walmart's everyday essentials model to complement Sam's Club's bulk purchasing options.
• Walmart's membership business is growing, with a 17% global revenue increase in the fiscal second quarter and record Walmart+ net additions, while Sam's Club saw a 26% rise in e-commerce sales during the same period.
• Employees of both Walmart and Sam's Club will receive joint memberships as a benefit, and the company does not expect the new membership program to materially affect its fiscal third-quarter or full-year financial guidance.