Walmart, which is often dubbed the world’s biggest retailer in reference to its revenue, still leads the way when it comes to annual sales.

The brick-and-mortar mainstay has held the top spot in quarterly sales for more than a decade, according to analysts.

This is The Takeaway from today's Morning Brief, which you can sign up to receive in your inbox every morning along with: On July 24, 2015, Amazon’s market cap surpassed Walmart’s. It took nearly 10 years for its revenue to do the same.

The clash of the retail titans has entered a new phase: for the first time, Amazon (AMZN) has surpassed Walmart (WMT) in annual revenue. The online retailer famously founded by Jeff Bezos in his garage during the 1990s has long led Walmart in market capitalization but hadn’t passed Walmart in earnings.