The company’s growing grocery business has proven to make a difference, with cash-strapped consumers avoiding expensive purchases and focusing on necessities during periods of high inflation. “This is where we’re seeing that Walmart has the upper hand compared to Target,” LSEG director of consumer research Jharonne Martis observed. According to Martis, Walmart’s grocery business has boosted customer loyalty, even convincing shoppers to spend on other general merchandise.

Over the second quarter, Walmart’s same-store sales rose by 6.3%, outpacing the 4.04% rise forecast by analysts. Food purchases rose by 2.8% along with online sales.

The post Walmart Stock Heads to All-Time High Ahead Of Labor Day appeared first on theprimarymarket.com.

CEO Doug McMillon announced that Walmart would be embarking on a price-cutting strategy, whereby the company will be looking to provide customers with relief. This strategy is aimed at providing Walmart an edge in an environment where large corporations have been accused of exploiting consumers with steep prices.

McMillon stated that the company is “trying to work hard right now, as we have been for quite some time now, with our suppliers to get our prices down. We think the company’s positioned to succeed regardless of the environment.”

Anshu Bhardwaj, Walmart’s senior vice president of technology strategy and commercialization, revealed that the company is also planning on using new technology to solve customers’ problems and improve the shopping experience. Walmart is currently testing an artificial intelligence-based conversation platform, “Converse”, that is used to answer customer questions on the website. The platform has been labeled a “dedicated shopping assistant.”

The post Walmart Discusses Latest Progress in Shareholders’ Meeting appeared first on theprimarymarket.com.

Sales rose by almost 8% over the first quarter; a figure that gave Walmart the confidence to project a 3.5% rise in consolidated net sales for the entire fiscal year. Earnings per share stood at $1.47, beating Wall Street estimates of $1.32 per share. According to data from Infinitiv, Walmart’s adjusted earnings per share for the full year are expected to be between $6.10 and $6.20.

Chief Financial Officer John David Rainey expressed satisfaction with regard to consumer resilience during tough financial times. He explained that many are making alternative purchase arrangements, such as buying smaller pack sizes of the same items and purchasing luxury items such as TVs only when there is a promotion.

“We’re seeing in these economic indicators that there is some strain on the consumer, but the resilience has surprised us,” Rainey reflected. And I think that’s in part probably because balance sheets are much stronger than they were pre-pandemic, even at this point.”

The post Walmart Raises Full-Year Outlook Amid Strong Q1 Report appeared first on theprimarymarket.com.

Walmart explained its decision in a blog post, saying that the stores have been causing huge losses for the company on an annual basis. According to the company, Chicago stores have failed to become collectively profitable since the first one opened 17 years ago and “lose tens of millions of dollars a year, and their annual losses nearly doubled in just the last five years.”

The remaining Walmart stores will continue business as usual. The company also added that all the workers from closed stores would have a chance to be relocated to another location. 

“We are grateful to our associates for their contributions to their communities and for the customers who have given us the privilege of serving them at these Chicago locations,” Walmart concluded in the blog post.

In its earnings report in February, Walmart reported $164 billion in revenue, posting a 7.3% year-over-year gain and beating the analysts’ estimation of $160 billion. The company’s stock has jumped more than 8% in the past month and is currently 3.91 percent up year to date at the price of $149.22 per share.

The post Walmart Closes Half its Chicago Stores Due to Huge Losses appeared first on theprimarymarket.com.

During its latest investor meeting, Walmart stated that it aims to have 65% of its stores serviced by automation by the end of the fiscal year of 2026. In addition, the retail giant wants at least 55% of its fulfillment center to be automated, predicting a 20% improvement in unit cost averages as a result.

U.S. President and CEO John Furner expressed his optimism regarding this transformation, claiming that fulfillment centers “can double the number of orders we are able to fulfill in a day, which means packages arrive at customer’s doorstep faster than ever before.”

Walmart’s push for automation comes after the retailer underwent layoffs at five of its U.S. e-commerce warehouses, cutting over 2,000 positions in total.

The post Walmart Expects Automation to Boost Sales $130 Billion in Five Years appeared first on theprimarymarket.com.

Walmart’s and Home Depot’s performances are expected to provide a clear insight into the current health of the U.S. consumer, especially given the enormity of both retail chains’ customer bases. Most notably, economists are looking to determine the effects of inflation on consumer spending power, particularly after retail sales rose in January despite resilient inflation.

Another focal point that investors will keep an eye on is the Personal Consumption Expenditures (PCE) price index. As the Federal Reserve’s most closely-watched tool to track price rises across the country, investors will expect the PCE to dictate the Fed’s interest rate policy going forward.

In January, the PCE Index posted a 0.5% rise in prices over the previous month. This compares to a rise of just 0.1% in December. In January, year-over-year PCE inflation is expected to come in at 5%, showing no improvement from the same period in 2022.

The post Walmart, Home Depot Earnings Set to Be Released This Week appeared first on theprimarymarket.com.

The company’s total third-quarter revenue rose 8.7% to $152.81 billion, beating analysts’ estimates of $147.75 billion. The retailer also announced a $20 billion share buyback plan.

Following its better-than-expected earnings report, Walmart adjusted its expected fiscal 2023 adjusted earnings per share. The company expects a fall from 6% to 7%, compared to a previously estimated decline of 9% to 11%.

Adjusted earnings per share for the fourth quarter of 2022 are expected to decline from 3% to 5%, compared to experts’ expectations of a 4.5% fall. Walmart projects a 3% rise in U.S. same-store sales for the period excluding fuel, however, this estimate is more conservative than analysts’ expectations of a 3.4% increase.

While Walmart’s decision to heavily discount products lowered its gross profit margins, this move has helped the company to grab market share from other struggling retailers.

The post Walmart Shares Rise Following Better-Than-Expected Earnings Report appeared first on theprimarymarket.com.

Already the majority shareholder in the company, Walmart intends to use its increased control to invest more capital, cut costs, and bring strategic change to Massmart, which has been incurring losses and consistently losing market share to local rivals.

The companies released a joint statement on Thursday confirming the offer which read: “Ordinary shareholders are hereby advised that Massmart and Walmart entered into an implementation agreement on 31 August 2022, in terms of which Walmart indicated its firm intention to make an offer.”

Walmart intends to make the purchase using its cash reserves, eyeing December 31st as the deadline to complete the purchase. Both companies’ boards view this deal as Walmart reaffirming its commitment to Massmart and South Africa, having first bought a stake in Massmart in 2010.

Since entering the South African retail market, Walmart has struggled to transform Massmart into South Africa’s go-to retailer, facing stiff competition from Pick N Pay, Shoprite, and Woolworths.

The post Walmart Moves to Purchase Remaining Stake in Massmart appeared first on theprimarymarket.com.

In this week’s note sent to clients, Goldman’s retail analyst Kate McShane shared three reasons why Walmart stock is a buy. The first reason is “strong top-line trends along with market share gains.” Also, McShane is high on Walmart because improved inventory position that should result in expected “moderated markdown pressure” and the fact that its “long-term algorithm remains intact.”

McShane has a $155 price target for Walmart compared to the current $138.91 per share. The analyst also has adjusted profits estimates from $5.69 to $5.89 per share while expecting $6.44 in 2023.

Sharing its second-quarter results earlier this week, Walmart revealed some positives that give optimism to investors. The retailer beat the Wall Street estimates by a lot, reporting $152.86 billion in revenue versus the $150.81 billion expected. The expected earnings per share were set at $1.62 but came at $1.77 adjusted. The same-store sales also exceeded expectations, with Walmart U.S. having a Q2 growth of 6.5% to 5.9% predicted.

Walmart shares have been up 7.91% in the past month, peaking at $139.52, which represents the highest mark since mid-May. However, Walmart stock still remains 3.93 down year to date.

The post Goldman Analyst Share 3 Reasons Why You Should Buy Walmart Stock appeared first on theprimarymarket.com.

The company’s growing grocery business has proven to make a difference, with cash-strapped consumers avoiding expensive purchases and focusing on necessities during periods of high inflation. “This is where we’re seeing that Walmart has the upper hand compared to Target,” LSEG director of consumer research Jharonne Martis observed. According to Martis, Walmart’s grocery business has boosted customer loyalty, even convincing shoppers to spend on other general merchandise.

Over the second quarter, Walmart’s same-store sales rose by 6.3%, outpacing the 4.04% rise forecast by analysts. Food purchases rose by 2.8% along with online sales.

The post Walmart Stock Heads to All-Time High Ahead Of Labor Day appeared first on theprimarymarket.com.

CEO Doug McMillon announced that Walmart would be embarking on a price-cutting strategy, whereby the company will be looking to provide customers with relief. This strategy is aimed at providing Walmart an edge in an environment where large corporations have been accused of exploiting consumers with steep prices.

McMillon stated that the company is “trying to work hard right now, as we have been for quite some time now, with our suppliers to get our prices down. We think the company’s positioned to succeed regardless of the environment.”

Anshu Bhardwaj, Walmart’s senior vice president of technology strategy and commercialization, revealed that the company is also planning on using new technology to solve customers’ problems and improve the shopping experience. Walmart is currently testing an artificial intelligence-based conversation platform, “Converse”, that is used to answer customer questions on the website. The platform has been labeled a “dedicated shopping assistant.”

The post Walmart Discusses Latest Progress in Shareholders’ Meeting appeared first on theprimarymarket.com.

Sales rose by almost 8% over the first quarter; a figure that gave Walmart the confidence to project a 3.5% rise in consolidated net sales for the entire fiscal year. Earnings per share stood at $1.47, beating Wall Street estimates of $1.32 per share. According to data from Infinitiv, Walmart’s adjusted earnings per share for the full year are expected to be between $6.10 and $6.20.

Chief Financial Officer John David Rainey expressed satisfaction with regard to consumer resilience during tough financial times. He explained that many are making alternative purchase arrangements, such as buying smaller pack sizes of the same items and purchasing luxury items such as TVs only when there is a promotion.

“We’re seeing in these economic indicators that there is some strain on the consumer, but the resilience has surprised us,” Rainey reflected. And I think that’s in part probably because balance sheets are much stronger than they were pre-pandemic, even at this point.”

The post Walmart Raises Full-Year Outlook Amid Strong Q1 Report appeared first on theprimarymarket.com.

Walmart explained its decision in a blog post, saying that the stores have been causing huge losses for the company on an annual basis. According to the company, Chicago stores have failed to become collectively profitable since the first one opened 17 years ago and “lose tens of millions of dollars a year, and their annual losses nearly doubled in just the last five years.”

The remaining Walmart stores will continue business as usual. The company also added that all the workers from closed stores would have a chance to be relocated to another location. 

“We are grateful to our associates for their contributions to their communities and for the customers who have given us the privilege of serving them at these Chicago locations,” Walmart concluded in the blog post.

In its earnings report in February, Walmart reported $164 billion in revenue, posting a 7.3% year-over-year gain and beating the analysts’ estimation of $160 billion. The company’s stock has jumped more than 8% in the past month and is currently 3.91 percent up year to date at the price of $149.22 per share.

The post Walmart Closes Half its Chicago Stores Due to Huge Losses appeared first on theprimarymarket.com.

During its latest investor meeting, Walmart stated that it aims to have 65% of its stores serviced by automation by the end of the fiscal year of 2026. In addition, the retail giant wants at least 55% of its fulfillment center to be automated, predicting a 20% improvement in unit cost averages as a result.

U.S. President and CEO John Furner expressed his optimism regarding this transformation, claiming that fulfillment centers “can double the number of orders we are able to fulfill in a day, which means packages arrive at customer’s doorstep faster than ever before.”

Walmart’s push for automation comes after the retailer underwent layoffs at five of its U.S. e-commerce warehouses, cutting over 2,000 positions in total.

The post Walmart Expects Automation to Boost Sales $130 Billion in Five Years appeared first on theprimarymarket.com.

Walmart’s and Home Depot’s performances are expected to provide a clear insight into the current health of the U.S. consumer, especially given the enormity of both retail chains’ customer bases. Most notably, economists are looking to determine the effects of inflation on consumer spending power, particularly after retail sales rose in January despite resilient inflation.

Another focal point that investors will keep an eye on is the Personal Consumption Expenditures (PCE) price index. As the Federal Reserve’s most closely-watched tool to track price rises across the country, investors will expect the PCE to dictate the Fed’s interest rate policy going forward.

In January, the PCE Index posted a 0.5% rise in prices over the previous month. This compares to a rise of just 0.1% in December. In January, year-over-year PCE inflation is expected to come in at 5%, showing no improvement from the same period in 2022.

The post Walmart, Home Depot Earnings Set to Be Released This Week appeared first on theprimarymarket.com.

The company’s total third-quarter revenue rose 8.7% to $152.81 billion, beating analysts’ estimates of $147.75 billion. The retailer also announced a $20 billion share buyback plan.

Following its better-than-expected earnings report, Walmart adjusted its expected fiscal 2023 adjusted earnings per share. The company expects a fall from 6% to 7%, compared to a previously estimated decline of 9% to 11%.

Adjusted earnings per share for the fourth quarter of 2022 are expected to decline from 3% to 5%, compared to experts’ expectations of a 4.5% fall. Walmart projects a 3% rise in U.S. same-store sales for the period excluding fuel, however, this estimate is more conservative than analysts’ expectations of a 3.4% increase.

While Walmart’s decision to heavily discount products lowered its gross profit margins, this move has helped the company to grab market share from other struggling retailers.

The post Walmart Shares Rise Following Better-Than-Expected Earnings Report appeared first on theprimarymarket.com.

Already the majority shareholder in the company, Walmart intends to use its increased control to invest more capital, cut costs, and bring strategic change to Massmart, which has been incurring losses and consistently losing market share to local rivals.

The companies released a joint statement on Thursday confirming the offer which read: “Ordinary shareholders are hereby advised that Massmart and Walmart entered into an implementation agreement on 31 August 2022, in terms of which Walmart indicated its firm intention to make an offer.”

Walmart intends to make the purchase using its cash reserves, eyeing December 31st as the deadline to complete the purchase. Both companies’ boards view this deal as Walmart reaffirming its commitment to Massmart and South Africa, having first bought a stake in Massmart in 2010.

Since entering the South African retail market, Walmart has struggled to transform Massmart into South Africa’s go-to retailer, facing stiff competition from Pick N Pay, Shoprite, and Woolworths.

The post Walmart Moves to Purchase Remaining Stake in Massmart appeared first on theprimarymarket.com.

In this week’s note sent to clients, Goldman’s retail analyst Kate McShane shared three reasons why Walmart stock is a buy. The first reason is “strong top-line trends along with market share gains.” Also, McShane is high on Walmart because improved inventory position that should result in expected “moderated markdown pressure” and the fact that its “long-term algorithm remains intact.”

McShane has a $155 price target for Walmart compared to the current $138.91 per share. The analyst also has adjusted profits estimates from $5.69 to $5.89 per share while expecting $6.44 in 2023.

Sharing its second-quarter results earlier this week, Walmart revealed some positives that give optimism to investors. The retailer beat the Wall Street estimates by a lot, reporting $152.86 billion in revenue versus the $150.81 billion expected. The expected earnings per share were set at $1.62 but came at $1.77 adjusted. The same-store sales also exceeded expectations, with Walmart U.S. having a Q2 growth of 6.5% to 5.9% predicted.

Walmart shares have been up 7.91% in the past month, peaking at $139.52, which represents the highest mark since mid-May. However, Walmart stock still remains 3.93 down year to date.

The post Goldman Analyst Share 3 Reasons Why You Should Buy Walmart Stock appeared first on theprimarymarket.com.