NEW YORK (VINnews) — Walmart on Tuesday became the first U.S. retailer to reach a $1 trillion market capitalization, joining an exclusive group of mostly technology companies.

The milestone comes as Walmart’s stock has climbed more than 24% over the past year, fueled by growth in e-commerce, its advertising business, and initiatives aimed at attracting higher-income shoppers.

New CEO John Furner, who took over Sunday, has overseen programs such as curbside pickup, private-label brand expansion, and the growth of Walmart’s third-party marketplace, all of which have helped boost profits and online sales.

Walmart reported a 5.8% revenue increase in its fiscal third quarter, with e-commerce sales up 27% and its advertising business growing 53%. The company expects full-year sales growth of 4.8% to 5.1% and is set to release fourth-quarter earnings later this month.