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 US government stimulus funds. Walmart's US division accounted for nearly 80 percent of its operating profits during the quarter, but the company has also made significant changes in its international portfolio in recent weeks. Walmart divested Argentina entirely, but maintained stakes in the other two countries, examples of "flexible" structures that benefit Walmart as it focuses on its core overseas markets, said Walmart International Chief Executive Judith McKenna. "This is a really new type of model that we're creating for international" said McKenna, who listed India, China, Mexica and Canada as core overseas markets.

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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 …

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 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 …

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 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 …

India, Mexico markets push Walmart global business grow 13% in Q2
3 years, 4 months ago

India, Mexico markets push Walmart global business grow 13% in Q2

The Hindu  

US retail giant Walmart saw its operations in markets such as India, China and Mexico push its international business growth by 13% in the second quarter ended July 31, with e-commerce continuing to expand its share in the segment. Net sales grew nearly 13 per cent in constant currency including strength in India, Mexico and China," Walmart president and CEO …

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 agrees to sell its business in Argentina
4 years, 1 month ago

Walmart agrees to sell its business in Argentina

Associated Press  

NEW YORK — Walmart will sell its business in Argentina as it continues to restructure its international division. Walmart will continue to support the business transition services and sourcing agreements under Grupo de Narvaez, the company that is acquiring it, but it will not retain an equity stake. It has since expanded to more than 90 locations and 9,000 workers …

Walmart Sells Argentina Stores to Regional Retail Group, Will Lose Over $1 Billion
4 years, 1 month ago

Walmart Sells Argentina Stores to Regional Retail Group, Will Lose Over $1 Billion

News 18  

Walmart Inc, the world’s largest retailer, said on Friday it would sell its retail operations in Argentina to South American supermarket chain owner Grupo de Narváez, pulling back as the country grapples with an economic crisis The U.S. company did not disclose the size of the deal for the operation, where it has over 90 stores, but said it would …

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