An Amazon Prime delivery van sits parked near a Walmart store in California. Justin Sullivan/Getty Images
Justin Sullivan/Getty Images
In a slow-motion race of two behemoths, Amazon has officially displaced Walmart as the world’s biggest company by sales.
For the first time, Walmart on Thursday reported lower annual sales than Amazon: Walmart’s revenue was $713.2 billion for the year ending in January, while Amazon, boosted by its lucrative cloud-computing business, made $716.9 billion in revenue for the year ending in December.
For about a decade, Walmart had reigned supreme thanks