Walmart shines in rough retail environment, ratchets up outlook after strong first quarter
1 year, 7 months ago

Walmart shines in rough retail environment, ratchets up outlook after strong first quarter

Associated Press  

NEW YORK — Walmart reported strong first-quarter sales results as the nation’s largest retailer’s low-prices continue to draw budget conscious consumers in a challenging economic environment of stubbornly high inflation, particularly in groceries. “We see it in the U.S. and in other markets like Mexico, Canada and Chile.” Other major retailers posted quarterly results this week, and there was a marked slowdown in spending, an environment in which Walmart can thrive due to its focus on low prices and a focus on necessities like groceries. Home Depot, the nation’s largest home improvement retailer, said Tuesday that sales for the first quarter fell 4.2%, and it expects its first annual revenue decline since 2009. Walmart reported net income of $1.67 billion, or 62 cents per share for the three month period ended April 30.

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Deal-hungry shoppers hit stores on Black Friday to kick off critical holiday season
3 weeks, 4 days ago

Deal-hungry shoppers hit stores on Black Friday to kick off critical holiday season

LA Times  

The Christmas tree is a big attraction on Black Friday at South Coast Plaza in Costa Mesa. “Honestly, you’ve got to come in with the mentality: It’s Black Friday,” said Gus Aguirre, a Simi Valley barber, who said his family never misses the biggest shopping day of the year. They suspected they could get the same sort of deals during …

The holidays will loosen our purse strings, forecasts say
1 month ago

The holidays will loosen our purse strings, forecasts say

Salon  

Buoyed by an economy that has strengthened in recent months, consumers plan to spend more on gifts, food and seasonal items this year, according to recent forecasts. The company said consumers strained by higher prices resulting from several years of inflation continue spending less on discretionary goods like home decor, electronics and clothing — the bulk of Target's sales. “The …

Walmart earnings: Holiday shopping is off to a strong start
1 month ago

Walmart earnings: Holiday shopping is off to a strong start

Live Mint  

Walmart said U.S. sales rose during the most recent quarter as shoppers bought more groceries, home goods and toys, a sign that spending is off to a steady start at the start of the holiday shopping season. The results Sales: U.S. comparable sales, those from stores and digital channels in operation for at least 12 months, rose 5.3% for the …

Walmart heads into official start of holiday season with strong momentum after robust 3Q results
1 month ago

Walmart heads into official start of holiday season with strong momentum after robust 3Q results

Associated Press  

NEW YORK — Walmart is heading into the official start of the holiday shopping season with strong tailwinds after ratcheting up better-than-expected fiscal third-quarter sales in many items including toys, home goods and groceries. The robust results, announced Tuesday, underscore how Walmart’s comparatively low prices have become a powerful draw for shoppers seeking to cut spending where they could in …

Walmart keeps growing with shoppers making more than $100,000 a year
1 month ago

Walmart keeps growing with shoppers making more than $100,000 a year

CNN  

New York CNN — Walmart’s business is surging. Walmart’s US sales at stores open for at least a year grew 5.3% last quarter compared with the year prior, the company said Tuesday. Walmart said it gained market share last quarter, driven “primarily from upper-income households.” Low and middle-income shoppers have traditionally formed the core of Walmart’s customer base, and they …

Walmart’s strong first quarter driven by consumers seeking bargains with inflation still an issue
7 months, 1 week ago

Walmart’s strong first quarter driven by consumers seeking bargains with inflation still an issue

Associated Press  

NEW YORK — Walmart Inc. reported another quarter of strong results Thursday as its low prices pull in shoppers scouring for discounts with inflation stubbornly high. Meanwhile, Home Depot, the nation’s largest home improvement retailer, said this week that sales declined for the third consecutive quarter to start 2024 as homeowners and prospective buyers wrestled with higher mortgage rates and …

Retail sales surge 0.7% in March as Americans seem unfazed by higher prices with jobs plentiful
8 months, 1 week ago

Retail sales surge 0.7% in March as Americans seem unfazed by higher prices with jobs plentiful

Associated Press  

NEW YORK — Americans boosted spending at a hotter-than-expected pace in March, underscoring how shoppers remain resilient despite inflationary pressures and other economic challenges. Retail sales rose 0.7% last month — almost double what economists had forecast — after rising 0.9% in February, according to Commerce Department data released Monday. This is one of the strongest retail sales reports we’ve …

Flipkart's Big Billion Day drew 1.4 billion customers and super Walmart sales
10 months ago

Flipkart's Big Billion Day drew 1.4 billion customers and super Walmart sales

Hindustan Times  

Flipkart’s annual Big Billion Day sales boosted US retail major Walmart’s sales in the quarter ending January although it hurt the company’s profit margin for the period. The Big Billion Day- Flipkart's annual festive sale event in October 2023 touted as the ‘largest ever’- brought 1.4 billion customer visits to the platform, a top Walmart executive said. Walmart's Q4 profits …

Walmart rips again in Q4 but as inflation retreats, so does customer spending per trip
10 months ago

Walmart rips again in Q4 but as inflation retreats, so does customer spending per trip

Associated Press  

NEW YORK — Walmart on Tuesday reported another quarter of strong results, as its low prices attracted shoppers looking for deals in an economically challenging environment marked by bouts of inflation. Yet inflation is fading, resulting in Walmart customers spending less per trip, leading the company to release a modest earnings forecast. Comparable store sales — those from established stores …

Walmart says thrifty shoppers boosted holiday sales. Retail giant to buy TV maker Vizio
10 months ago

Walmart says thrifty shoppers boosted holiday sales. Retail giant to buy TV maker Vizio

LA Times  

Walmart reported better-than-expected earnings for the last quarter of the year. Walmart reported another quarter of stellar results, ending the year on a high note as its low prices attract shoppers looking for deals in an economically challenging environment beset by a recent bout of inflation. Comparable-store sales — those from established stores and online operations over the last 12 …

Walmart raises starting pay; redesigns bonuses for store managers
11 months ago

Walmart raises starting pay; redesigns bonuses for store managers

Associated Press  

NEW YORK — Walmart Inc. is raising the starting base pay for store managers, while redesigning its bonus plan that will put more of an emphasis on profits for these leaders. Walmart said that the store managers’ new starting annual base wage ranges will be from $90,000 to $170,000. That means that the average base pay for store leaders will …

Walmart attracts more shoppers seeking to cut spending in Q3, but muted expectations spook investors
1 year, 1 month ago

Walmart attracts more shoppers seeking to cut spending in Q3, but muted expectations spook investors

Associated Press  

NEW YORK — Walmart extended its streak of strong quarterly gains heading into the holiday season as its low prices attract shoppers looking for deals in a tough economic environment. Americans cut back on spending in October, ending six straight months of gains and pushing retail sales down 0.1%, the U.S. Commerce Department said this week. Sales also slid at …

Walmart cuts starting hourly pay for some workers in move it says will offer consistency in staffing
1 year, 3 months ago

Walmart cuts starting hourly pay for some workers in move it says will offer consistency in staffing

Associated Press  

NEW YORK — Walmart, the nation’s largest private employer, is making adjustments to its pay scale that will mean some new store workers, like those fetching online orders, begin at a lower hourly pay rate than they would have a few months ago. The change, which became effective in July and was first reported by The Wall Street Journal on …

Walmart’s hot sellers? Hand mixers and kitchen tools. In an era of high prices, basic is king
1 year, 4 months ago

Walmart’s hot sellers? Hand mixers and kitchen tools. In an era of high prices, basic is king

Associated Press  

NEW YORK — Walmart racked up another strong quarterly sales gain as its low-prices continue to attract budget conscious consumers looking for deals in a tough economic environment. We see people across income cohorts come to us more frequently looking to save money on every day needs.” Many other retailers do not have the wide breadth of product mix that …

Walmart boosts outlook after a strong first quarter and rising online sales
1 year, 7 months ago

Walmart boosts outlook after a strong first quarter and rising online sales

Live Mint  

Walmart reported a strong first quarter and boosted its outlook for the year as the nation's largest retailer continues to draw budget conscious consumers in a challenging economic environment. Home Depot, the nation’s largest home improvement retailer, said Tuesday that sales for the first quarter fell 4.2%, and it expects its first annual revenue decline since 2009. Walmart reported net …

Walmart beats Q4 expectations but is cautious on guidance
1 year, 10 months ago

Walmart beats Q4 expectations but is cautious on guidance

Associated Press  

NEW YORK — Walmart on Tuesday reported strong sales during the holiday season as budget-conscious consumers looking for better deals on groceries and other items flocked to its stores. Though sales rebounded at stores and restaurants last month, showing shoppers are still spending despite higher prices and several interest rate hikes by the Federal Reserve in an effort to curb …

Hot dogs vs deli meat; rising costs shape choices at Walmart
2 years, 4 months ago

Hot dogs vs deli meat; rising costs shape choices at Walmart

Associated Press  

NEW YORK — With inflation hovering near levels not seen in 40 years, higher-income Americans turned to Walmart to cut costs on groceries while its lower-income customers swapped out deli meats for less expensive hot dogs and canned tuna. That boosted sales for Walmart in the second quarter, the company reported Tuesday, but the downward shift at almost all points …

Walmart cuts profit outlook as shoppers adapt to inflation
2 years, 4 months ago

Walmart cuts profit outlook as shoppers adapt to inflation

Associated Press  

NEW YORK — Walmart Inc. on Monday lowered its profit outlook for the second quarter and the full year, saying rising prices on food and gas are forcing shoppers to cut back on discretionary items, particularly clothing, that carry higher profit margins. Walmart’s move to lower its profit outlook in the middle of the quarter is rare and raised worries …

Walmart Q1 profit dragged down as inflation takes a bite
2 years, 7 months ago

Walmart Q1 profit dragged down as inflation takes a bite

Associated Press  

NEW YORK — Walmart reported stronger sales for its fiscal first quarter, but its profit took a beating as the nation’s largest retailer grappled with surging inflation on food and fuel and higher costs from a snarled global supply chain. Walmart executives told analysts on a conference call Tuesday that while some shoppers bought high-ticket items like game consoles and …

Retail sales rise 0.9% in April as consumers show resilience
2 years, 7 months ago

Retail sales rise 0.9% in April as consumers show resilience

Associated Press  

WASHINGTON — U.S. retail sales rose 0.9% in April, a solid increase that underscores Americans’ ability to keep ramping up spending even as inflation persists at nearly a 40-year high. “Despite the surge in prices weighing on their purchasing power, the U.S. consumer now appears to be single-handedly keeping the global economy afloat.” The Tuesday report also showed that sales …

Walmart: Profits dragged down by inflation, supply chain woes
2 years, 7 months ago

Walmart: Profits dragged down by inflation, supply chain woes

Al Jazeera  

The big-box retailer cut its full-year earnings forecast, sending shares down more than 8 percent in morning trading. Walmart reported stronger sales for its fiscal first quarter, but its profit took a beating as the nation’s largest retailer grappled with surging inflation on food and fuel and higher costs from a snarled global supply chain. Meanwhile, Home Depot, the nation’s …

Walmart is thriving despite supply chain woes, high inflation
2 years, 10 months ago

Walmart is thriving despite supply chain woes, high inflation

Al Jazeera  

The world’s largest retailer said fourth-quarter revenue exceeded $150bn for the first time ever. Walmart’s investments over the past year, which included chartering ships, raising worker wages three times, and developing alternative streams of revenue, helped the company prepare for the holiday season without suffering higher costs, analysts said. Problems bring people to Walmart and we know that they take …

Retailers tap shoppers' data to sell more ads ahead of holidays
3 years, 1 month ago

Retailers tap shoppers' data to sell more ads ahead of holidays

The Hindu  

There's more than merchandise for sale this holiday. In October, KrogerCo's Kroger Precision Marketing - borne from the acquisition of a data analytics firm in 2015 - launched a private advertising marketplace that will give brands a tool to help them buy digital ad space more efficiently. ECOMMERCE BOOM To be sure, the only retailer that has come close to …

Walmart sales still surging, but a chill may be on the way
3 years, 10 months ago

Walmart sales still surging, but a chill may be on the way

Associated Press  

NEW YORK — Walmart is raising wages for 425,000 of its 1.5 million U.S. workers and is investing $14 billion this year to speed up its distribution network as the nation’s largest retailer navigates vast industry changes that were accelerated by the pandemic. Walmart Inc. lost $2.09 billion, or 74 cents per share, compared with last year’s $4.14 billion profit …

Another booming quarter for Walmart, but sales are slowing
4 years, 1 month ago

Another booming quarter for Walmart, but sales are slowing

Associated Press  

NEW YORK — Walmart turned out another stellar quarter as the world’s largest retailer powers through a pandemic that has felled other national chains. Sales at Walmart stores opened at least a year— a key barometer for a retailer’s health — rose 6.4%. “We think these new customer behaviors will largely persist, and we’re well positioned to serve customers.” McMillon …

Walmart reports strong US sales as it retreats from some overseas markets
4 years, 1 month ago

Walmart reports strong US sales as it retreats from some overseas markets

Live Mint  

Walmart scored another round of strong earnings Tuesday as it sharpens its focus on e-commerce growth and retreats from some overseas markets as the coronavirus roils the retail economy. The world's biggest retailer enjoyed another quarter of lofty US sales, although the gains moderated from earlier in the pandemic when rival "non-essential" retailers were closed and shoppers were boosted by …

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