Walmart

By Bill Peters ‘We’ve graduated capabilities from this operating approach that are now fully embedded in our organization,’ company says in memo, according to the Wall Street Journal Walmart Inc. will shut down Store No. 8, the big-box retailer’s startup incubator and innovation hub, the Wall Street Journal reported on Friday. It’s the latest move by a retailer to trim expenses and protect profits as shoppers continue to grapple with higher prices. Chief Financial Officer John Rainey told employees in a memo that much of what Store No. 8 did had already been incorporated into the company’s operations as a whole, the Journal said. “We’ve graduated capabilities from this operating approach that are now fully embedded in our organization,” Rainey said in the memo, according to the Journal. “The responsibility to shape the future of retail is now shared by all segments,” he continued. Walmart launched Store No. 8 in […]

Walmart is a favorable combination of visible growth drivers and should see accelerating growth in a better economic environment, DA Davidson analysts say in a research note. The retail giant’s brand perception evolution means it should maintain new customers after inflation pushed more higher-end consumers into the company’s ecosystem, and its holiday season seems to have played out as planned, the analysts add. Still, Walmart needs to get faster when it comes to online deliveries. “As this improves, Walmart will continue to take online market share,” the analysts say. Shares rise 1.3% to $161.37.

By Eric J. Savitz Walmart is going all-in on artificial intelligence software, a development which CEO Doug McMillon laid out during the retailer’s first-ever keynote address at the CES trade show in Las Vegas on Tuesday. “We build technology to serve people and not the other way around,” McMillon said in his speech at the Venetian. “Advances in technology make it feel like anything is possible…People, our customers and associates, come first and we’ll put technology to work to serve them better than ever.” Among other things, the retail giant announced a new generative-AI-powered search experience on Apple iPhones. The new feature will allow shoppers to search by specific user cases — like holding a Super Bowl watch party, and searching for wings, beer, and a big-screen TV. Walmart also disclosed another new feature, not yet available, called Walmart InHome Replenishment. The service will allow perishable goods purchased on a

By Sarah Nassauer Drones are more likely to be buzzing overhead this year if you live in Dallas. Walmart plans to offer drone delivery to most of the region this year, a major expansion of its effort in recent years to provide the delivery option to some customers in several states. In Dallas, Walmart will partner with Wing, a unit of Alphabet, and Zipline, a global drone delivery company that works with healthcare providers and others. Walmart is currently offering drone delivery in a limited way in Dallas. After the expansion, drone delivery from Walmart will be available to about 75% of the Dallas-Fort Worth population, the company said. The drone companies handle delivery, while Walmart provides goods and access to shoppers. The Federal Aviation Administration has in recent months allowed several drone-delivery companies to fly in less restrictive ways, spurring the Dallas expansion and other developments in the industry.

Walmart-owned Flipkart Has Begun A Workforce Reduction That Could See Its Total Team Size Decrease By 5%-7%.

Walmart’s (WMT) omnichannel transformation is set to continue to gain momentum and support more sustainable sales in the US, BofA Securities said in a note Thursday. The firm reiterated its buy rating and $190 price target on the retailer. The analysts, including Robert Ohmes, said that in fiscal Q4, they expect Walmart to see moderating sales growth as grocery inflation continues to decline, headwinds from store closures and recovery costs related to the recent hurricane near Acapulco, Mexico, and a lower than expected interest expense. BofA expects the retailer’s fiscal Q4 adjusted earnings per share to be $1.61 and its gross margin expansion to continue with support from growing digital ad contributions, the analysts said. For fiscal 2024, BofA maintains its adjusted EPS outlook of $6.45, in line with Walmart’s guidance of $6.40 to $6.48. Looking ahead, the retailer’s digital advertising, Walmart+ membership, and growth in third-party marketplace and fulfillment

RBC Capital analyst Steven Shemesh reiterates Walmart (NYSE:WMT) with a Outperform and maintains $168 price target.

Walmart CEO Doug McMillon is warning that a period of deflation could be coming in the next few months, but the retailer is better positioned than most to manage such an environment, Baird analysts say in a research note. While falling prices ratchet up the need to sell more units, customers are responding well to price rollbacks that are funded by Walmart’s vendors, and paying less for food should free up dollars for more spending on general merchandise, the analysts say. They recommend buying Walmart’s stock after the past week’s pullback.

Walmart Q3 Adj. EPS $1.53; FactSet Consensus S$1.52。

Walmart reports strong revenue growth of 5.2% with strength across segments; eCommerce up 15% globally; GAAP EPS of $0.17; Adjusted EPS of $1.53; Raises FY24 sales and Adjusted EPS guidance BENTONVILLE, Ark.—-November 16, 2023– Walmart Inc. (NYSE: WMT): This press release features multimedia. View the full release here: Third-quarter highlights: — Consolidated revenue of $160.8 billion, up 5.2%, or 4.3% in constant currency (“cc”) — Consolidated gross margin rate up 32bps positively affected by a slight improvement for Walmart U.S. and timing of Flipkart’s The Big Billion Days (“BBD”) event, which flipped from Q3 last year to Q4 this year — Consolidated operating expenses as a percentage of net sales down 182bps, lapping a discrete charge from last year. On an adjusted basis, up 37bps on variable pay expenses and store remodels — Consolidated operating income up $3.5 billion, or 130.1%, adjusted operating income up 3.0% positively affected by the

Walmart Ceo Says Expects Prices To Decrease In General Merchandise In The Short Term But Not All The Way Back To Where They Were 2 Years Ago; Sees Need For New Sam’s Club Stores In Texas, Florida