Consumers continue to flock to Walmart during inflationary times.
Even so, consolidated net income for the quarter was still $5.1 billion, up from $4.3 billion a year ago. “Walmart delivers value across categories [and] progresses as an ecosystem,” Oliver Chen, managing director and senior equity analyst at the investment firm, wrote in a note. “More middle- and higher-income consumers are trading to Walmart and private brand penetration has inflected higher.
For the full fiscal 2023 year, Walmart anticipates consolidated net sales will rise about 4.5 percent for the year, with a $2.1 billion headwind in the back half, thanks to currency exchange rates. The company also continues to expect Walmart U.S. comp sales, excluding fuel, will rise about 3 percent in the back half of the year, or 4 percent for the full year. AdjustedToo much inventory in categories such as apparel, home and electronics meant more markdowns during the most recent quarter.
Still, McMillon said rising prices and market uncertainty might actually provide a bit of a tailwind for the discount retailer. “We’re updating our structure and evolving select roles to provide clarity and better position the company for a strong future,” Jimmy Carter, a Walmart spokesperson, told WWD. “At the same time, we’re further investing in key areas like, technology, health and wellness, supply chain and advertising sales and creating new roles to support our growing number of services for our customers, suppliers and the business community.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Hong Kong Regulator Widens Probe Into China EvergrandeThe city’s Financial Reporting Council said the developer’s disclosure about how $2 billion was seized from a unit raises questions about the company’s past audits and financial reporting.
Baca lebih lajut »
Walmart stock gains after profit and sales beat expectations, and outlook was raisedShares of Walmart Inc. surged in premarket trading Tuesday, after the discount retail behemoth reported fiscal second-quarter profit and revenue that beat...
Baca lebih lajut »
For TikTok's Alicia Mccarvell, Feeling Grief at the Beach 'Is a Sign of Success''I experience this grief every time I do something I held myself back from just a few years ago.'
Baca lebih lajut »
Niles: An ‘unfavorable’ problem for Disneyland, Six FlagsBoth theme park chains have cited people who visit too frequently as a drag on revenue.
Baca lebih lajut »
Road & Track Crew's Big & Fast Cars Is Here With 701 Amazing FactsCheck out the cool book from Road & Track specifically written with the budding car geek in mind. It's never too early to start thinking about stocking stuffers! 🏎️
Baca lebih lajut »
Here’s how to get $1K for taste testing Trader Joe’s fall foodsFinanceBuzz is offering $1,000 cash and $500 in Trader Joe's gift cards for people who agree to taste test the grocery chain's fall foods
Baca lebih lajut »