McKinsey studied 61 growth companies that outperformed their peers through COVID, inflation, and labor shocks. Here’s what they all had in common

Did you know Walmart’s advertising business accounted for about 30% of the company’s operating profit last year? Did you even know that Walmart has an advertising business?

That stunning fact, unknown to many people (including me), exemplifies the conclusion of a new McKinsey study, published today. In the report, Inspired for business growth: How five companies beat the market, researchers at the consulting firm examined how big companies grow both revenue and profits impressively over time—no easy task.

The study identified 61 companies that outperformed their peers from 2019 to 2024, including the investment bank JPMorgan Chase & Co.; the insurance company Progressive; ASML, the Dutch manufacturer of machines for making chips; and Builder FirstSource, a construction products and services company. This was, of course, a tough period that included the COVID pandemic, followed by inflation and a labor shortage. Still, on........

© Fortune