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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailConsumers have been 'as resilient as they could be,' says former Walmart U.S. CEO Bill SimonBill Simon, former Walmart U.S. CEO, joins 'Squawk Box' to discuss the state of the consumer, impact of inflation and heightened interest rate cycle, spending outlook, and more.
Persons: Bill Simon Bill Simon Organizations: Consumers, Walmart U.S
Analysts attended earnings calls in the third quarter armed with questions for healthcare and consumer companies about the potential effect on their sales from the growing popularity of these drugs, known as GLP-1 agonists. A Reuters analysis of earnings transcripts for the third quarter showed "GLP-1" or alternatives like "obesity" or "weight-loss medications" were mentioned 256 times across 29 U.S. and European healthcare and consumer companies. That's more than double the mentions for the second quarter, when those phrases came up 127 times. While some consumer companies have talked about factors such as fewer calories being consumed, "these kind of large extrapolations" seem to be a bit of a stretch, said BMO Capital analyst Evan Seigerman. For big pharma manufacturers like Pfizer (PFE.N) and Amgen (AMGN.O), analyst questions were aimed at their obesity drug candidates.
Persons: Lilly, George Frey, Jeff Jonas, it's, Eli Lilly's, John Furner, Mondelez, Eli Lilly, Evan Seigerman, LVMH, Rajesh Kumar, Jonas, Bhanvi Satija, Savyata Mishra, Arpan Varghese, David Gaffen, Shounak Organizations: Novo Nordisk, Pharmacy, REUTERS, Gabelli, Novo, Walmart, Walmart U.S, Hershey, Truist Securities, Krispy, BMO Capital, Danish, pharma, Pfizer, Devices, HSBC, Thomson Locations: Provo , Utah, U.S, United States, Novo, Bengaluru
However, it offered a cautious outlook and said that shoppers pulled back their spending in late October. Industry analysts are dissecting the data, seeking to shed more light on how consumers are feeling as the holiday approaches. Walmart reported that profits were $453 million, or 17 cents per share, for the three-month period ended Oct. 31. Comparable store sales — those from established stores and online operating over the past 12 months — rose 4.9% for the Walmart U.S. division for the quarter. Global e-commerce sales rose 15%.
Persons: That's, Doug McMillon, it’s, McMillon, Macy’s, Anne Organizations: Walmart, Industry, Shoppers, Federal Reserve, U.S . Commerce Department, Revenue, Walmart U.S Locations: Bentonville , Arkansas, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWalmart results reflective of slowing consumer spending, warns Fmr. CEO Bill SimonBill Simon, Former Walmart U.S. CEO, joins 'Fast Money' to talk Walmart earnings, consumer trends, tailwinds the retailer can take advantage of as the economy slows and more.
Persons: Fmr, Bill Simon Bill Simon Organizations: Walmart, Walmart U.S
REUTERS/Siddharth Cavale/File Photo Acquire Licensing RightsNov 16 (Reuters) - Walmart (WMT.N) raised its annual sales and profit forecast on Thursday for the second straight quarter, signaling a strong start to the holiday season. The strong demand for low-priced products from groceries to clothing and gifts, coupled with better in-stock levels, has helped Walmart take more market share from other retailers - including dollar stores - in recent months. Walmart now expects fiscal 2024 earnings per share of between $6.40 and $6.48, up from its prior forecast of $6.36 to $6.46. Walmart is also doubling down on holiday merchandise across a wide range of price points to attract inflation-hit customers looking to make Christmas purchases on a budget. Walmart shares, which have gained nearly 20% this year, were down 1% in premarket trading.
Persons: Siddharth Cavale, Doug McMillon, Deborah Sophia, Susan Fenton Organizations: REUTERS, Walmart, Target, Walmart U.S, Walmart's, Thomson Locations: Teterboro , New Jersey, U.S, New York, Bengaluru
Walmart pledges $1 million aid for Israel victims
  + stars: | 2023-11-01 | by ( Siddharth Cavale | )   time to read: +2 min
NEW YORK, Nov 1 (Reuters) - Walmart Foundation, the philanthropy arm of the U.S. retailer, has pledged $1 million to an Israeli disaster relief and emergency medical service organization. UBS , Goldman Sachs (GS.N) and Jefferies are among companies to have pledged aid to Israel. As the Israel-Hamas conflict intensifies, others, including billionaire Elon Musk, are providing aid in the Middle East in other ways. Walmart does not operate stores in Israel, but employs 171 people in the country who work for its tech arm Walmart Global Tech, its Walmart U.S. operations and its Flipkart business in India. Walmart said its donation follows a $1 million grant the Walmart Foundation pledged to the U.S.
Persons: Goldman Sachs, Jefferies, Magen David Adom, Ofer Saban, Elon Musk, SpaceX's, Saban, Siddharth Cavale Organizations: Walmart Foundation, UBS, Walmart, Walmart Global Tech, Walmart U.S, . Holocaust Museum, Thomson Locations: U.S, Jerusalem, Israel, Gaza, India, New York
In this article WMTAMZN Follow your favorite stocks CREATE FREE ACCOUNTWalmart hosted its first seller summit for its third-party marketplace this summer. Walmart leaders gave third-party marketplace sellers an early gift, too: Waiving extra fees for storing merchandise during the peak season. Already, the company is using the third-party marketplace to try to drum up early business. About 70% of items included in Walmart Plus Week, which coincided with Amazon Prime Day in July, were marketplace items. There are signs Walmart's growing third-party marketplace could help the company defy slower spending patterns and capitalize on inflation-wary shoppers.
Persons: Doug McMillon, Santa Claus, Sam Walton, Walmart's, Tom Ward, Rick Watson, Watson, Melissa LaCognata, Jaré Buckley, Cox Organizations: Walmart, Amazon's, Amazon, Walmart U.S, eBay, RMW Commerce Consulting, Federal Trade Commission, Disney, Reebok, Lucky Locations: Las Vegas, Amazon
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailConsumers are starting to buckle for the first time in decade: Fmr. Walmart U.S. CEO Bill SimonBill Simon, Fmr. Walmart U.S. CEO, joins 'Fast Money' to discuss consumer stock weakness impact on Amazon Prime's two-day event.
Persons: Bill Simon Bill Simon, Fmr Organizations: Consumers, Walmart U.S
As three of the nation's biggest retailers kick off key sales week, former Walmart U.S. CEO Bill Simon warns consumers are starting to buckle for the first time in a decade. "That sort of pileup wears on the consumer and makes them wary," the former Walmart U.S. CEO told CNBC's "Fast Money" on Monday. "For the first time in a long time, there's a reason for the consumer to pause." Walmart and Target are trying to compete with their own sales events to get an early jump on the holiday shopping season. Simon observes the retailers have a glaring thing in common: The bargains are not as deep.
Persons: Bill Simon, CNBC's, Simon Organizations: Walmart U.S, Amazon, Deal, Walmart, Target Locations: Israel
Walmart is piloting a pet services center in a suburb of Atlanta, but plans to open more locations in other parts of the country. Walmart is opening a dedicated pet services center, signaling it wants to be a place that customers turn to for veterinarian visits and dog grooming appointments along with grocery runs. Walmart's pet services center will have its own dedicated entrance next to a store. PetIQ has rented space for vet clinics inside more than 65 Walmart stores, after opening its first one in 2016. "We know pet services is an important need for our customers and we want to be able to provide that all in one place," she said.
Persons: Ol, Roy, Sam Walton's, PetIQ, Kaitlyn Shadiow, Morgan Stanley Organizations: Walmart, Walmart U.S, Wellness Locations: Atlanta, Dallas , Georgia, Georgia
A worker stocks the shelves at a Walmart store on January 24, 2023 in Miami, Florida. Walmart announced that it is raising its minimum wage for store employees in early March, store employees will make between $14 and $19 an hour. Walmart has cut starting pay for new store employees who pick and pack online orders and stock shelves, raising questions of whether companies face a cooling labor market or are adjusting to a return to pre-pandemic shopping habits. New Walmart employees who join the digital or stocking teams now make about a dollar-an-hour less than they would have if hired several months ago. In a statement, Walmart said it made the change so its starting pay was consistent, whether a store employee worked at the cashier, stocked shelves or helped with online orders.
Persons: Anne Hatfield, Hatfield, John Furner, That's Organizations: Walmart, Amazon, Wall Street, Walmart U.S Locations: Miami , Florida, U.S, Target
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRetail earnings show high-end consumers getting nervous, warns Fmr. Walmart U.S. CEO Bill SimonBill Simon, Fmr. Walmart U.S. CEO, joins 'Fast Money' to talk the state of the consumer and retail earnings.
Persons: Fmr, Bill Simon Bill Simon Organizations: Walmart U.S
Jim Cramer's top 10 things to watch in the stock Thursday
  + stars: | 2023-08-17 | by ( Jim Cramer | )   time to read: +3 min
Dow stock Walmart (WMT) delivers a big quarterly beat. We increased our Club price target to $100 per share from $88 . As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Chuck Robbins, Mark Cuban's CostPlus, Jim Cramer's, Jim Cramer, Jim Organizations: Dow, Nasdaq, Investment, Walmart, Walmart U.S, Target, Wall Street, TJX Companies, Marshalls, Cisco, Disney, ESPN, Apple, Amazon Pharmacy, Bank of America, Adobe, Jim Cramer's Charitable, CNBC Locations: HomeGoods, TJX's, California
Target followed that pattern in the second quarter. E-commerce sales rose 24% for Walmart U.S. in the second quarter. Both retailers pointed to curbside pickup as a major driver of online sales — a key differentiator from competitor Amazon. Walmart chalked up online sales gains to store pickup and delivery, as well as more advertising revenue. Sales of frequency categories, such as food and beauty items, weren't enough to offset weaker discretionary sales at the retailer.
Persons: Rainey, Christina Hennington, That's, Target's Hennington, Taylor Swift, Stanley tumblers, Chip, Joanna Gaines Organizations: Wal, Rogers, Getty, Walmart, Walmart U.S, Amazon Locations: Rogers , Arkansas, Tenleytown, Washington, DC
It said adjusted earnings per share for the year will range between $6.36 and $6.46. That compares with its prior guidance for consolidated net sales gains of 3.5% and an adjusted earnings per share range of between $6.10 and $6.20. Transactions increased by 2.9% and the average ticket rose by 3.4% for Walmart U.S.Same-store sales for Walmart U.S. grew by 6.4% in the second quarter, excluding fuel, compared with the year-ago period. Sales for Walmart Connect, the company's advertising business in the U.S., grew 36% year over year. In the grocery department at Walmart U.S., sales of private labels rose 9% year over year.
Persons: John David Rainey, Rainey, Doug McMillon, Judith McKenna, Kath McLay, Chris Nicholas, " Rainey, Walmart's, John Furner Organizations: Walmart, Walmart U.S, CNBC, Sam's, Walmart Connect Locations: U.S
Despite these challenges, Walmart International has performed strongly under McKenna's leadership, under which it exited poorly performing operations in Japan, Britain, Argentina and Brazil. McKenna has led Walmart International since 2018, overseeing a multi-year transformation that resulted in the unit delivering more growth and stronger financial results across the board, Walmart CEO Doug McMillon wrote in a memo to employees. Sam's Club, a rival to Costco (COST.O), for years had been an underperforming business with muted sales growth. Sam's Club, a business unit with $84 billion of yearly revenue, has posted 12.7% average annual comparable sales growth since McKay took over the division, according to a Reuters calculation. Walmart also announced that Christopher Nicholas, currently chief operating officer of Walmart U.S., would replace McLay as CEO of Sam's Club.
Persons: Mario Anzuoni, Kathryn McLay, Judith McKenna, McKenna, Doug McMillon, Piper Sandler, McKay, she's, Edward Jones, Brian Yarbrough, Christopher Nicholas, Ananya Mariam Rajesh, Siddharth Cavale, Anil D'Silva, Sandra Maler, Jamie Freed Organizations: Walmart, REUTERS, Walmart Inc, Walmart International, Sam's, Woolworths, Sam's Club, Costco, Walmart U.S, McLay, Jan, Thomson Locations: Rosemead , California, U.S, China, Mexico, South Africa, Japan, Britain, Argentina, Brazil, India, Walmart's U.S, Walmart Mexico, Bengaluru, New York
The discounter has nearly 4,700 stores across the U.S., with roughly 90% of Americans living within 10 miles of a Walmart store. In the U.S., about 139 million customers visit Walmart stores and its website or app each week. Walmart plans to sell the sampling stations to advertisers and bundle them with other ad formats that can run at the same time to make for a fuller campaign. In the most recent fiscal year, Walmart's global ads business grew nearly 30% and its U.S. ads business, Walmart Connect, rose about 40%. That's a sharper gain than the approximately 7% increase in Walmart's total revenue and Walmart U.S. net sales during the period.
Persons: Ryan Mayward, That's, Doug McMillon Organizations: Walmart, Shoppers, Kroger, Mattel, Walmart Connect, Fort, U.S, Walmart U.S Locations: U.S, Dallas, Fort Worth
The National Retail Federation is predicting record spending , whether students are heading back to elementary school, high school or college. Bracing for higher prices as wages fall Baked into that outlook was an expectation held by the vast majority of respondents, 82%, that prices will be higher this year than in 2022. As in the KPMG survey, the gain largely reflected the perception that prices will be higher this year. In the JLL poll, Walmart , Target and Amazon were among the top three retailers parents planned to shop, by a wide margin. Stifel reiterated its price target of $163 for Walmart, saying, "We continue to see more upside than downside from current levels."
Persons: Paul Ashworth, Staples, Mark Astrachan, Astrachan, Stifel, Corey Tarlowe, Tarlowe Organizations: Prime, National Retail Federation, KPMG, Big, Capital Economics, Consumers, Walmart, Target, Old Navy, Kohl's, Macy's, Costco, Adobe Analytics, Jefferies, Amazon, Walmart U.S, Bed Locations: American
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmazon will hit its Prime Day numbers due to everyday item demand: Fmr. U.S. Walmart CEO Bill SimonBill Simon, Former Walmart U.S. CEO, joins 'Fast Money' to talk the state of the consumer, Amazon Prime Day, and more.
Persons: Simon Bill Simon Organizations: Walmart, Walmart U.S, Amazon Locations: . U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFood inflation is not expected to come down any time soon, says Fmr. Walmart CEO, Bill SimonBill Simon, former Walmart U.S. CEO, joins 'Squawk on the Street' to discuss consumer spending trends, what companies are positioned to benefit from a consumer trade down trends, and consumer reaction to sustained inflation.
Persons: Bill Simon Bill Simon Organizations: Walmart, Walmart U.S
Bonobos co-founder Andy Dunn is returning to the retailer as brand advisor as the company looks to get back to its roots after it was sold by Walmart earlier this year, Bonobos and new parent company WHP Global announced Friday. WHP Global and Express Inc., which runs the Express brand, bought Bonobos from Walmart in a $75 million deal that was announced in April and closed last month. Walmart originally bought Bonobos in 2017 for $310 million while it was working to grow its online presence under former e-commerce president Marc Lore. Under WHP Global, Bonobos can expand internationally, he said. While Walmart sold Bonobos for a significant discount compared to what it paid, the acquisition wasn't necessarily a losing one for Walmart.
Persons: Bonobos, Andy Dunn, Dunn, Yehuda Shmidman, John Hutchison, Tim Baxter, Marc Lore, Shmidman, WHP, I've, That's Organizations: Walmart, WHP Global, Express Inc, WHP, CNBC, Walmart U.S Locations: U.S, Dubai, Hong Kong, he'll
Nearly all Americans are cutting back on their spending in some way, according to a new CNBC and Morning Consult survey. Of the survey respondents, 92% of middle-income Americans — or those who make between $50,000 and $100,000 a year — reported being "somewhat" or "very" worried about higher prices. "Customers continue to seek value given the impact of inflation," Walmart CEO Doug McMillon said on the retailer's first-quarter earnings call. Spending at value-oriented grocery stores in May outpaced spending in the overall grocery segment, according to Bank of America aggregated credit and debit card spending data. The CNBC and Morning Consult survey was conducted online earlier this month and polled more than 4,400 adults.
Persons: Doug McMillon, Robert Ohmes Organizations: CNBC, Walmart, Target, Walmart U.S, Bank of America, Grocery Outlet, " Bank of America Securities Locations: New York City
Walmart will report fiscal first-quarter earnings before the bell on Thursday, after Home Depot and Target said shoppers have pulled back on big-ticket items and discretionary purchases. Walmart has attracted higher-income grocery shoppers over the past three quarters by emphasizing value, as food remains pricey. Walmart gave a weaker-than-expected full-year outlook in February, saying it expects same-store sales for Walmart U.S. to rise between 2% and 2.5%, excluding fuel. It said adjusted earnings per share would range from $5.90 to $6.05, excluding fuel, for the fiscal year. Shares have trailed the S&P 500 's roughly 8% gain and the XRT 's nearly 2% gain during the same period.
Retailers continue to post better-than-expected earnings in the latest quarter – with Walmart , Bath & Body Works and Canada Goose topping estimates. Bath & Body Works' guidance is lacking , too, at 27 cents to 32 cents per share after adjustments versus the 32 cents estimate. Bath & Body Works also raised its earnings guidance and reaffirmed its full-year forecast. Bath & Body Works highlighted better merchandise margin and benefits from cost savings initiatives. BBWI YTD mountain Bath & Body Works shares soared more than 7% after its earnings report.
May 5 (Reuters) - Walmart Inc (WMT.N) appointed Latriece Watkins as its U.S. chief merchandising officer, according to a memo seen by Reuters on Friday, days after Charles Redfield stepped down from the role. Watkins, who joined the company 24 years ago, has served in several roles across Walmart U.S. and Sam's Club. Last month, Walmart U.S. CEO John Furner wrote to associates that Redfield would step down and assume an advisory role supporting the U.S. business effective May 1. Watkins' appointment takes place at a time when consumer spending power has been reduced by high inflation, hurting Walmart's business and leading the company to adopt a cautious stance on 2023. "We have a rich history of strong leaders who embrace this constant change, set bold visions for our teams and best represent the humanity that is Walmart," Furner wrote in the memo.
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