WalMart’s quarterly bonus announced on Tuesday is an unprecedented milestone for the retailer, which saw its profit fall to $1.3bn in the third quarter of the year from $6bn a year earlier.

Walmart announced that its annual bonus was a record-breaking $12.7bn for the third-quarter of 2016, the biggest payout ever at the company.

The company said the boost in profits was attributable to a surge in spending by customers, an improved outlook for its core business and a shift in its product mix.

In the last quarter, Walmart saw its sales increase by a record 4.6% year on year to $2.7tn.

The retail giant also said it expects to earn $2bn in earnings before interest, taxes, depreciation and amortisation (EBITDA) this year.

Wal-Mart has been growing at a much slower rate than most of its competitors.

However, analysts believe that growth could slow if the retailer continues to struggle with falling prices.

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