Stock: Walmart (WMT)News: Past 4 yearsAnnouncementsDividends Feb 26, 2024: Walmart quarterly dividends steady Walmart today announced a quarterly dividend of 20.75c per share for Q2/2025; unchanged from the previous quarter (Q1/2025) dividend of 20.75c. The ex-dividend date is Friday, August 16, 2024 and the record date is Friday, August 16, 2024 and it is payable on Tuesday, September 03. Total dividends per share paid in the 12 months ended February 26 were $2.28. This reflects actual dividend yield of 1.3% at the last price of $175.56. Feb 26, 2024: Walmart announces dividend Walmart today announced a quarterly dividend of 20.75c per share. The ex-dividend date is Friday, December 13 and the record date is Friday, December 13, 2024 and it is payable on Monday, January 06, 2025. Feb 23, 2024: Walmart announces dividend Walmart today announced a quarterly dividend of 20.75c per share. The ex-dividend date is Thursday, May 09, 2024 and the record date is Friday, May 10, 2024 and it is payable on Tuesday, May 28. Feb 22, 2024: Walmart quarterly dividends down 63.6% sequentially from previous quarter Walmart today announced a quarterly dividend of 20.75c per share for Q4/2024; down 63.6% sequentially from the previous quarter (Q3/2024) dividend of 57.0c. The ex-dividend date is Thursday, March 14, 2024 and the record date is Friday, March 15, 2024 and it is payable on Monday, April 01. Total dividends per share paid in the 12 months ended February 22 were $2.28. This reflects actual dividend yield of 1.3% at the last price of $173.70. 2023 Sep 10, 2023: Top Wall Street analysts select these dividend stocks to enhance returns When markets get choppy, dividends offer investors' portfolios some cushioning in the form of income. Dividends provide a great opportunity to enhance investors' total returns over a long-term horizon. Investors shouldn't base their stock purchases on dividend yields alone, however: They ought to assess the strength of a company's fundamentals and analyze the consistency of those payments first. Analysts have insight into those details. To that effect, here are five attractive dividend stocks, according to Wall Street's top experts on TipRanks, a platform that ranks analysts based on their past performance. Verizon Communications Let us first look at telecommunication giant Verizon (VZ). The stock offers a dividend yield of 8%. Last week, the company declared a quarterly dividend of 66.50 cents per outstanding share, an increase of 1.25 cents from the previous quarter. This marked the 17th consecutive year the company's board approved a quarterly dividend increase. Recently, Citi analyst Michael Rollins upgraded Verizon and its rival AT&T (T) to buy from hold. The analyst increased his price target for Verizon stock by $1 to $40, while maintaining AT&T's price target at $17. Rollins noted that several headwinds like competition, industry structure, higher rates and concerns about lead-covered cables have affected investor sentiment on telecom companies. That said, he has a more constructive outlook for large cap telecom stocks. "The wireless competitive environment is showing positive signs of stabilization that should help operating performance," said Rollins, who ranks No. 298 out of more than 8,500 analysts on TipRanks. The analyst contended that the recently announced price hikes by Verizon and AT&T indicate a stabilizing competitive backdrop for wireless. He further noted that customers continue to hold onto their phones for longer, which is reducing device upgrade costs and stabilizing churn. Overall, the analyst sees the possibility of some of the ongoing market concerns fading over the next 12 months. Also, he expects the prospects for improved free cash flow to lower net debt leverage and support the dividend payments. Rollins has a success rate of 65% and each of his ratings has returned 13.3%, on average. (See Verizon Hedge Fund Trading Activity on TipRanks) Medtronic Medical device company Medtronic (MDT) recently announced a quarterly dividend of $0.69 per share for the second quarter of fiscal 2024, payable on Oct. 13. MDT has increased its annual dividend for 46 consecutive years and has a dividend yield of 3.5%. Reacting to MDT's upbeat fiscal first-quarter results and improved earnings outlook, Stifel analyst Rick Wise explained that continued recovery in elective procedure volumes, supply chain improvements and product launches helped drive revenue outperformance across multiple business units. The analyst thinks that Medtronic's guidance indicates that it is now well positioned to more consistently deliver better-than-expected growth and margins. He also expressed optimism about the company's transformation initiatives under the leadership of CEO Geoff Martha. "We view Medtronic as a core healthcare holding and total return vehicle in any market environment for investors looking for safety and stability," said Wise, while raising his price target to $95 from $92 and reaffirming a buy rating. Wise holds the 729th position among more than 8,500 analysts on TipRanks. Moreover, 58% of his ratings have been profitable, with each generating a return of 6.3%, on average. (See Medtronic Insider Trading Activity on TipRanks) Hasbro Another Stifel analyst, Drew Crum, is bullish on toymaker Hasbro (HAS). He increased the price target for Hasbro to $94 from $79 while maintaining a buy rating, and moved the stock to the Stifel Select List. Crum acknowledged that HAS stock has been a relative laggard over the past several years due to many fundamental issues that resulted in unhappy investors. Nevertheless, the analyst is optimistic about the stock and expects higher earnings power and cash flow generation, driven by multiple catalysts like portfolio adjustments, further cost discipline, greater focus on gaming and licensing, as well as a new senior leadership team. Crum noted that Hasbro grew its dividend for 10 consecutive years (2010-2020) at a compound annual growth rate of over 13%, with the annual payout representing more than 50% of free cash flow, on average. However, any upward adjustments were limited following the Entertainment One acquisition, with only one increase during 2021 to 2023. The analyst thinks that given the current dividend yield of around 4%, Hasbro's board might be less inclined to approve an aggressive raise from here. That said, with expectations of higher cash flow generation, Crum said that "the company should have more flexibility around growing its dividend going forward." Crum ranks 322nd among more than 8,500 analysts tracked by TipRanks. His ratings have been profitable 59% of the time, with each rating delivering an average return of 12.9%. (See Hasbro Stock Chart on TipRanks) Dell Technologies Next up is Dell (DELL), a maker of IT hardware and infrastructure technology, which rallied after its fiscal second-quarter results far exceeded Wall Street's estimates. The company returned $525 million to shareholders through share repurchases and dividends in that quarter. DELL offers a dividend yield of 2.1%. Evercore analyst Amit Daryanani maintained a buy rating following the results and raised his price target for DELL stock to $70 from $60. Daryanani ranks No. 249 among more than 8,500 analysts tracked by TipRanks. The analyst highlighted that Dell delivered impressive upside to July quarter revenue and earnings per share (EPS), driven by broad-based strength across both infrastructure and client segments. Specifically, the notable upside in the infrastructure segment was fueled by GPU-enabled servers. The analyst also noted that Dell generated $3.2 billion of free cash flow in the quarter and is currently running at over $8 billion free cash flow on a trailing twelve-month basis. This implies that the company has "plenty of dry powder" to significantly enhance its capital allocation program, he added. "We think the catalysts at DELL are starting to add up in a notable manner ranging from - cap allocation update during their upcoming analyst day, AI centric revenue acceleration and potential S&P 500 inclusion," said Daryanani. In all, 60% of his ratings have been profitable, with each generating an average return of 11.5%. (See Dell's Financial Statements on TipRanks) Walmart We finally come to big-box retailer Walmart (WMT), which is a dividend aristocrat. Earlier this year, the company raised its annual dividend for fiscal 2024 by about 2% to $2.28 per share. This marked the 50th consecutive year of dividend increases for the company. WMT's dividend yield stands at 1.4%. Following WMT's upbeat fiscal second-quarter results and upgraded full-year outlook, Baird analyst Peter Benedict highlighted that traffic gains in stores and online channels reflect that consumers are choosing Walmart for a blend of value and convenience. Benedict also noted that the company's efforts to drive improved productivity and profitability are gaining traction. The analyst reiterated a buy rating on WMT and raised the price target to $180 from $165, saying that the new price target "assumes ~23x FY25E EPS, slightly above the stock's five-year average of ~22x given the company's defensive sales mix, market share gains, and an improved long-term profit/ROI profile as alternative revenue streams scale." Benedict ranks 94th among more than 8,500 analysts tracked by TipRanks. His ratings have been profitable 68% of the time, with each rating delivering an average return of 13.7%. (See Walmart's Technical Analysis on TipRanks) Source: CNBC Feb 24, 2023: Walmart quarterly dividends steady Walmart today announced a quarterly dividend of 57.0c per share for Q2/2024; unchanged from the previous quarter (Q1/2024) dividend of 57.0c. The ex-dividend date is Thursday, August 10, 2023 and the record date is Friday, August 11, 2023 and it is payable on Tuesday, September 05. Total dividends per share paid in the 12 months ended February 24 were $2.24. This reflects actual dividend yield of 1.6% at the last price of $142.09. Feb 24, 2023: Walmart announces dividend Walmart today announced a quarterly dividend of 57.0c per share. The ex-dividend date is Thursday, December 07 and the record date is Friday, December 08, 2023 and it is payable on Tuesday, January 02, 2024. Feb 23, 2023: Walmart quarterly dividends up 1.8% sequentially from previous quarter Walmart today announced a quarterly dividend of 57.0c per share for Q4/2023; up 1.8% sequentially from the previous quarter (Q3/2023) dividend of 56.0c. The ex-dividend date is Thursday, March 16, 2023 and the record date is Friday, March 17, 2023 and it is payable on Monday, April 03. Total dividends per share paid in the 12 months ended February 23 were $2.24. This reflects actual dividend yield of 1.6% at the last price of $144.24. Feb 23, 2023: Walmart announces dividend Walmart today announced a quarterly dividend of 57.0c per share. The ex-dividend date is Thursday, May 04, 2023 and the record date is Friday, May 05, 2023 and it is payable on Tuesday, May 30. 2022 Feb 23, 2022: Walmart quarterly dividends steady Walmart today announced a quarterly dividend of 56.0c per share for Q2/2023; unchanged from the previous quarter (Q1/2023) dividend of 56.0c. The ex-dividend date is Thursday, August 11, 2022 and the record date is Friday, August 12, 2022 and it is payable on Tuesday, September 06. Total dividends per share paid in the 12 months ended February 23 were $2.20. This reflects actual dividend yield of 1.6% at the last price of $136.45. Feb 23, 2022: Walmart announces dividend Walmart today announced a quarterly dividend of 56.0c per share. The ex-dividend date is Thursday, December 08 and the record date is Friday, December 09, 2022 and it is payable on Tuesday, January 03, 2023. Feb 21, 2022: Walmart quarterly dividends up 1.8% sequentially from previous quarter Walmart today announced a quarterly dividend of 56.0c per share for Q4/2022; up 1.8% sequentially from the previous quarter (Q3/2022) dividend of 55.0c. The ex-dividend date is Thursday, March 17, 2022 and the record date is Friday, March 18, 2022 and it is payable on Monday, April 04. Total dividends per share paid in the 12 months ended February 21 were $2.20. This reflects actual dividend yield of 1.6% at the last price of $137.99. Feb 21, 2022: Walmart announces dividend Walmart today announced a quarterly dividend of 56.0c per share. The ex-dividend date is Thursday, May 05, 2022 and the record date is Friday, May 06, 2022 and it is payable on Tuesday, May 31. Feb 17, 2022: Walmart Raises Annual Dividend to $2.24 per Share, Marking 49th Consecutive Year of Dividend Increases BENTONVILLE, Ark., Feb. 17, 2022 - The board of directors of Walmart Inc. (NYSE: WMT) approved an annual cash dividend for fiscal year 2023 of $2.24 per share, an increase of approximately 2 percent from the $2.20 per share paid for the last fiscal year. The fiscal year 2023 annual dividend of $2.24 per share will be paid in four quarterly installments of $0.56 per share, according to the following record and payable dates: Record Dates Payable Dates March 18, 2022 April 4, 2022 May 6, 2022 May 31, 2022 Aug. 12, 2022 Sept. 6, 2022 Dec. 9, 2022 Jan. 3, 2023 "We're proud of our track record of returning meaningful cash to shareholders and are pleased to be increasing our annual dividend for the 49th consecutive year," said Brett Biggs, executive vice president and chief financial officer at Walmart Inc. Source: Company Website Feb 17, 2022: Walmart Raises Annual Dividend to $2.24 per Share, Marking 49th Consecutive Year of Dividend Increases BENTONVILLE, Ark., Feb. 17, 2022 - The board of directors of Walmart Inc. (NYSE: WMT) approved an annual cash dividend for fiscal year 2023 of $2.24 per share, an increase of approximately 2 percent from the $2.20 per share paid for the last fiscal year. The fiscal year 2023 annual dividend of $2.24 per share will be paid in four quarterly installments of $0.56 per share, according to the following record and payable dates: Record Dates Payable Dates March 18, 2022 April 4, 2022 May 6, 2022 May 31, 2022 Aug. 12, 2022 Sept. 6, 2022 Dec. 9, 2022 Jan. 3, 2023 "We're proud of our track record of returning meaningful cash to shareholders and are pleased to be increasing our annual dividend for the 49th consecutive year," said Brett Biggs, executive vice president and chief financial officer at Walmart Inc. Source: Company Website 2021 Feb 23, 2021: Walmart announces dividend Walmart today announced a quarterly dividend of 55.0c per share. The ex-dividend date is Thursday, December 09 and the record date is Friday, December 10, 2021 and it is payable on Monday, January 03, 2022. Feb 23, 2021: Walmart announces dividend Walmart today announced a quarterly dividend of 55.0c per share. The ex-dividend date is Thursday, May 06, 2021 and the record date is Friday, May 07, 2021 and it is payable on Tuesday, June 01. Feb 23, 2021: Walmart quarterly dividends up 1.9% sequentially from previous quarter Walmart today announced a quarterly dividend of 55.0c per share for Q4/2021; up 1.9% sequentially from the previous quarter (Q3/2021) dividend of 54.0c. The ex-dividend date is Thursday, March 18, 2021 and the record date is Friday, March 19, 2021 and it is payable on Monday, April 05. Total dividends per share paid in the 12 months ended February 24 were $2.16. This reflects actual dividend yield of 1.6% at the last price of $137.69. Feb 23, 2021: Walmart quarterly dividends steady Walmart today announced a quarterly dividend of 55.0c per share for Q2/2022; unchanged from the previous quarter (Q1/2022) dividend of 55.0c. The ex-dividend date is Thursday, August 12, 2021 and the record date is Friday, August 13, 2021 and it is payable on Tuesday, September 07. Total dividends per share paid in the 12 months ended February 24 were $2.16. This reflects actual dividend yield of 1.6% at the last price of $137.69. Feb 20, 2021: Walmart Raises Annual Dividend to $2.20 per Share, Marking 48th Consecutive Year of Dividend Increases BENTONVILLE, Ark., Feb. 18, 2021 - The Board of Directors of Walmart Inc. (NYSE: WMT) approved an annual cash dividend for fiscal year 2022 of $2.20 per share, an increase of approximately 2 percent from the $2.16 per share paid for the last fiscal year. The fiscal year 2022 annual dividend of $2.20 per share will be paid in four quarterly installments of $0.55 per share, according to the following record and payable dates: Source: Company Website Share Capital 2024 Jan 31, 2024: Walmart announces share split Walmart has announced a 1 for 3 share split, on Monday, February 26. The shares last traded at $165.25. 2020 Sep 01, 2020: Walmart's stock gets a $24 billion boost after retailer announces subscription service Walmart+ won't launch for two weeks, but Wall Street is reacting positively to the retailer's forthcoming membership program and its perks. Now, investors and industry watchers will wait to see if customers sign up. The company's shares closed up more than 6% on Tuesday. Earlier in the day Walmart's stock hit a new 52-week high. Its market cap rose to $418 billion. Walmart said Tuesday that the subscription service will debut nationwide Sept. 15. It will cost $98 a year or $12.95 a month. Walmart+ members will get unlimited free home delivery of more than 160,000 items sold in stores, including groceries, so long as they spend at least $35 per order. They will also get discounts of up to 5 cents a gallon for fuel and access to a Scan & Go app that allows shoppers to skip the checkout line. Walmart's chief customer officer, Janey Whiteside, downplayed its intent to compete with Amazon Prime and described the service as a "life hack" that makes shopping easy and saves families money. She said the company will keep adding benefits. Yet consumers will likely compare Walmart+ and Amazon Prime as they debate whether they want to pay for one program or the other - or decide if they can afford both. Whether Walmart shoppers embrace the service or not could influence if the big-box retailer can keep its sales soaring and wallet share expanding like it has during the coronavirus pandemic. "Walmart has undoubtedly picked up new customers during this across categories," Moody's retail analyst Charlie O'Shea said. "How many of those customers stay?" The retailer's subscription service is a sharp departure from Amazon Prime. That rival service costs slightly more at $119 a year or $12.99 a month, but it includes a large library of TV shows and movies. It also allows customers to order a single low-priced item, such as a lightbulb or a toothbrush, and ship it to their home without needing to hit a minimum. Source: CNBC Press Releases 2023 Nov 14, 2023: Home Depot says the worst of inflation is over - that could be good news for retailers and shoppers KEY POINTS Home Depot echoed government data on Tuesday that indicates inflation is cooling. With its comments, Home Depot gave fresh hope for consumers and the broader economy. Other retailers reporting this week, including Walmart and Target, have gotten hurt as consumers pay more for necessities and have less to spend in other areas. Even as Home Depot forecast sales declines, the retailer had good news for investors and consumers on Tuesday. "I think the most important observation we've made is that the worst of the inflationary environment is behind us," Chief Financial Officer Richard McPhail said on an earnings call. Shares of the retailer rose by more than 5% after the company beat quarterly earnings expectations, driving a rally for the Dow Jones Industrial Average. Home Depot's comments also came as government data on Tuesday morning showed that inflation was flat in October from the prior month. Home Depot kicked off a much-anticipated week of retail earnings that includes other household names, such as Walmart, Target and Macy's. All of the retailers have struggled with consumers who have become more selective about spending, particularly on pricier and discretionary items, as they pay more for necessities like groceries. Home Depot is no exception. For multiple quarters, its customers have bought fewer big-ticket items and taken on smaller, less expensive projects. Yet with its comments Tuesday, Home Depot gave fresh hope that consumers and the broader economy could soon see relief. In the short term, cooling inflation reduces sales numbers for retailers, including Home Depot. Yet long term, if prices level off or even start to drop, it can free up extra money that shoppers can spend elsewhere. Plus, cooling inflation could speed along the end of interest rate hikes by the Federal Reserve. The central bank has been trying to tame decades-high price increases without tipping the economy into a recession. Still, Michael Baker, a retail analyst at D.A. Davidson, said relief won't come soon enough for the holiday season. He expects modest sales growth for retailers. "Less inflation can invite back in some discretionary spending, but that's offset by the fact it's generally a pretty soft spending environment," he said. At Home Depot, McPhail has described 2023 as "a year of moderation" after the boom in home improvement during the Covid pandemic. The retailer predicts a drop in sales from last year. Yet the normalization of other trends has brought predictability for the business and customers, he said. "Some prices are settling at levels higher than 2022," McPhail said. "Others are settling lower. But we're seeing some stabilization there." Appliances, which sometimes requires monthslong wait times, are back in stock. Those healthier inventory levels have lifted sales in the category, said Billy Bastek, executive vice president of merchandising, on the earnings call. Yet some factors that drive inflation are beyond retailers' control and influence consumers' decisions, too. Just take the cost of painting a living room, CEO Ted Decker said on the earnings call. He said Home Depot remains focused on offering low prices. But, he added, it's backed off on the kinds of promotions that don't make a difference. He said cutting the price of paint by $10 doesn't put a dent in the bigger cost: paying the painters. Source: CNBC Oct 30, 2023: Walmart to upgrade 1,400 stores with $9 billion investment KEY POINTS Investment in stores will take place over two-year period. Investments marks national rollout of "store of future" concept. New signage, brighter lighting, digital screens are part of the upgrades. U.S. retail chain Walmart on Monday said it is investing more than $9 billion over a two-year period to upgrade and modernize some U.S. stores with improved layouts, expanded product selections and new tech additions. On Friday, 117 stores in 30 states will be re-launched showcasing the enhancements, representing investments of more than $500 million, Walmart said in a statement. In total, it plans to modernize more than 1,400 of its 4,717 Walmart stores across the country. The remodels do not apply to its warehouse club chain, Sam's Club, a spokesperson said. "These construction investments allow us to create more local jobs and make it easier for our associates to get customers what they want, when they want it," John Furner, chief executive officer of Walmart's U.S. business said. Walmart's low-cost and low-margin groceries have been a big draw for Americans dealing with steep inflation in food prices, including eggs, protein and chocolate, over the past two years. In 2022, the company's sales surpassed $600 billion, a record. Now the Bentonville, Arkansas-based retailer wants to change its image from merely a steep discounter to a destination where customers can also purchase fashionable home goods and clothing. As part of those efforts, the company tested some remodeled concept stores called "Stores of the Future" at a few Walmart Supercenters, including Teterboro in New Jersey, earlier this year. Executives have previously said the concept was a success, with same-store sales rising by a few percentage points and in Teterboro's case, as much as 20%. Monday's investments mark the national rollout of that concept, a Walmart spokesperson said. The enhanced stores will have refreshed interiors and exteriors, with new paint, updated flooring, modernized restrooms, LED-lighting and new signage for brighter and easier navigation through the stores, the company said. Customers also will see increased check-out options, including staffed lanes and self-checkout areas, and more grab-and-go food and beverage options in its grocery areas. Stores will also host bigger pharmacies with private screening rooms for pharmacist consultations and services, and digital screens and QR codes that offer information on Walmart's services offered online, the company said in a statement. Source: CNBC Oct 10, 2023: Here are 20 stocks I'm watching Tuesday, including Lilly, AMD and Goldman Sachs Here are some of the tickers on my radar for Tuesday, Oct. 10, taken directly from my reporter's notebook: As PepsiCo (PEP) doesn't see the GLP-1 weight-loss drug impact that Walmart (WMT) warned about, there's a new survey that says coverage of these treatments (Novo Nordisk's (NVO) Wegovy and Ozempic as well as Eli Lilly's (LLY) Mounjaro) could nearly double next year to 43%. About 25% cover now. Lilly is a stock in the CNBC Investing Club portfolio. Market historian Ed Yardeni is raising his odds of a recession in 2024. He sees rolling recoveries. But base case rolling recession. Advanced Micro Devices (AMD) price target cut to $120 per share from $132 at Bank of America. Keeps neutral (hold) rating. The analysts see a "tricky set-up" for chip stocks. AMD is in the Club's Bullpen watch list for stocks that could become part of the portfolio. The chipmakers the Club does own are Nvidia (NVDA) and Broadcom (AVGO). Citi takes Skyworks (SWKS) to sell from neutral. Qorvo (QRVO) same. Makers of wireless chip solutions. Schwab (SCHW) price target lowered to $55 per share from $64 at Barclays. JMP Securities lowers Goldman Sachs (GS) to $440 per share from $450. Give me a break stock. The stock closed Monday at $312. Goldman reports its quarter next week. Club name Wells Fargo (WFC) kicks off earnings season Friday. Harley-Davidson (HOG) price target cut to $32 per share from $35 at Citi. The long-awaited rebound being pushed out. Rivian Automotive (RIVN) upgraded to buy from hold at UBS. Realty Income (O) downgraded to hold from buy at Bank of America. Mizuho lowers Walgreens (WBA) to $25 per share from $31. Cites walkout of employees. JMP and Barclays lower Robinhood (HOOD) price targets. But big difference in where each sees HOOD. JMP goes to $24 per share from $25. Barclays goes to $10 from $11. Block (SQ) down 46% since July. I see it as an unjustified pullback. Unity Software CEO John Riccitiello out. Retiring. James Whitehurst, former Red Hat chief in at Unity (U). I love Whitehurst. Citi takes Corning (GLW) to hold from buy. Sees stretched-out recovery. Shares of the Gorilla Glass maker hits a 52-week low Tuesday. Source: CNBC Oct 07, 2023: The big AI and robotics concept that has attracted both Walmart and Softbank Key Points Most investors would say Softbank's big artificial intelligence bet is the chip company Arm Holdings, which just went public. But another big AI bet is Symbotic, a company which offers AI-powered "warehouse as a service" to major retailers including Walmart, Target and Albertson's to improve their inventory and stocking operations. Symbotic's stock is up near 190% this year, and Walmart owns 11% of its shares, as part of its deal to automate the retailer's 42 U.S. regional distribution centers for packaged consumer goods. Venture-capital giant Softbank notched a $15 billion-plus gain on its 2016 deal to buy Arm Holdings when the artificial intelligence-enabling semiconductor firm went public last month. But not as many investors know about Softbank's "other" big AI investment, Wilmington, Mass.-based software and robotics maker Symbotic, which Walmart has taken a big stake in itself. That may soon change. Symbotic, a company that has already generated market heat selling AI-powered robotic warehouse management systems to clients including Walmart, Target and Albertson's, is partnering with Softbank to play in a potentially giant and transformative market. The two are teaming up in a joint venture called GreenBox Systems which promises to deliver AI-powered logistics and warehousing to much smaller companies, delivering it as a service in facilities different companies share. They say it's a $500 billion market, and an example of the kind of change AI can bring to the economy at large. If it works, GreenBox will reach companies that could never afford the multi-million dollar required investment, in the same way cloud computing puts high-end information tech within reach, said Dwight Klappich, an analyst at technology research firm Gartner. "I've seen a lot of robotics tech and I've never seen anything like it in my life," TD Cowen analyst Joseph Giordano said. "Compared to what it replaces, it's like day and night." Erasing memories of a big WeWork real estate blunder It might even mute the memory of Softbank's most disastrous commercial real estate management investment ever, the notorious office-sharing company WeWork. Like WeWork, GreenBox is a promise to fuse technology and real estate. Indeed, its sales pitch of "warehouse as a service" recalls the "space as a service" slogan in WeWork's 2019 IPO prospectus almost exactly. The big difference: with WeWork, outside analysts struggled to identify what technological advantage WeWork ever offered clients over working at home or in traditional offices, let alone one that justified its peak valuation of $47 billion. WeWork today is worth under $150 million and is now under bankruptcy watch as it warned in August of its potential inability to remain "a going concern," and more recently stopped making interest payments on debt, asking lenders to negotiate. At GreenBox, the technology is the whole point, Giordano said. And unlike WeWork, which wanted people to change the way they used offices, Symbotic and GreenBox are out to let companies that already run warehouses boost efficiency and profits, he said. "Contract warehousing exists today - but those operations are mostly manual," said Robert W. Baird analyst Rob Mason. Softbank owns more than 8% of Symbotic, according to data from Robert W. Baird, and took it public through a special purpose acquisition company last year. Softbank also owns 65% of the GreenBox venture, which launched with $100 million in investment by the two companies. Walmart owns another 11% of Symbotic, according to a proxy statement from the robotics company, and is by far its biggest customer until the GreenBox venture ramps up, accounting for almost 90% of revenue. "We share the same vision of going big and going fast," Symbotic CEO Rick Cohen said. "We believe this market is massive." ymbotic has generated stock-market excitement even before the GreenBox deal. Its shares are up 190% this year. Sales in its most recent quarter climbed 77%, and orders for its existing warehouse-management systems jumped to $12 billion - a backlog it would take the company years to fulfill Add in the $11 billion of Symbotic software and follow-on services GreenBox committed to buy over six years in July, and that backlog soars to $23 billion for a company that expects its first billion-dollar revenue year in fiscal 2023, and to break even on an EBITDA basis for the first time as a public company in the fourth quarter. The best indication of the future may be from Walmart, which bought its Symbotic stake as part of the companies' deal to automate the retailer's 42 U.S. regional distribution centers for packaged consumer goods. The product is the reason why, analysts say. At prices of $25 million to hundreds of millions, according to a conference call Symbotic held with analysts in July, a Symbotic system blends as many as dozens of autonomous robots that scoot around warehouses at speeds up to 25 mph, moving and unloading boxes from pallets and picking orders with AI software that optimizes where in a warehouse to put individual cases of goods, and lets boxes be packed to the warehouse's ceiling, Giordano said, wasting much less space in the building. The system works something like a disk drive that uses intelligence to store data efficiently and retrieve the right data on demand - but with boxes of stuff. And a large warehouse can use several different systems, piling up the required investment to get moving. Because Symbotic's system can track inventory down to the case easily, where stuff is put can be matched much more easily to incoming orders, making it possible to more fully automate order picking. It can also match the design of outgoing pallets to the layout of the store the pallet is headed to, speeding up unloading and shelf stocking, Klappich said. But the biggest innovation the tech allows is in business models, rather than in technology itself. That hasn't spread outside of giant companies yet, but Giordano and Mason say they think it will. The AI's precision will let multiple companies share the same warehouse, and even commingle their goods for efficient shipping without confusion, much as cloud computing lets multiple clients share the same computer servers, Mason said. "Through sharing infrastructure, you can get out of the infrastructure business and focus on what's important to you," Klappich said. "Larger-scale automation without the capital expense has been a challenge.″ Born out of stealth work with Walmart, minting a multi-billionaire The idea grew out of a vision Cohen had when running his family's grocery distribution company, C&S Wholesale Grocery, which he has grown to $33 billion in annual revenue from $14 million since 1974. Symbotic was founded in 2006, and worked in stealth mode for years while refining its prototypes with Walmart. "I've spent my whole life in the outsourcing and [logistics] business with C&S, so, this - the ability to run warehouses for people - has always been on the plate, Cohen said in the July analyst call. "We said we're going to take care of Walmart first. We are now starting to say, I think we can do more." Symbotic and C&S have made the 71-year old Cohen one of America's richest men, with a net worth hovering around $15.9 billion, according to Forbes. Symbotic teamed up with Softbank to build GreenBox in order to preserve its own capital, Cohen told analysts. The joint venture was initially capitalized 65% by Softbank and 35% by Symbotic, for a total of $100 million. Analysts say the venture will require much more capital, possibly raised by having GreenBox itself borrow money in the bond market. Symbotic said it will use its share of the profits from sales to GreenBox to keep its equity stake in the joint venture around 35%. "The question has been, who has the capital to set it all up?" Klappich said. "Softbank could be the key because they have deep pockets." The joint venture will buy software from Symbotic, then turn around and sell the warehouse space, equipment and related services as a package to tenants. Many questions remain, and potential threats from Amazon, private equity Much else about the new company remains unknown, beginning with the identity of its not-yet-announced chief executive, Mason said. The venture could either develop warehouses or rent them, though Symbotic said it will probably mostly rent them. Pricing for the warehouse-as-a-service is undisclosed. But the rise of Greenbox more than doubles Symbotic's potential market, and nearly doubles its backlog. Symbotic has said that its total market is about $432 billion, a figure chief strategy officer Bill Boyd repeated on the conference call when the GreenBox alliance was announced. Early adopters will be in businesses like grocery and packaged goods, with Symbotic expanding into pharmaceuticals and electronics over time, according to Symbotic's annual federal regulatory filing this year. The GreenBox market for smaller companies shapes up as another $500 billion of possible demand, Gartner's Klappich said. The estimates are based on the number of warehouses in those industries, the likely percentage of warehouses in each whose owners can afford the technology, either independently or through GreenBox, and the average price of Symbotic-like systems. The third quarter of the company's fiscal year, which ends in October, illustrates how the company's profits might scale. Revenue jumped 77% to $312 million, and its loss before interest, taxes and non-cash depreciation and amortization expenses shrank to $3 million. Mason says the company will turn profitable on an EBITDA basis in the fiscal year that begins this fall, before orders from GreenBox begin, and EBITDA will be "in the mid-teens" as a percent of sales by the following year. Clients stand to save money all the way through the warehouse, Klappich said. Giordano estimated the savings at eight hours of labor per outgoing truck. The technology can also cut space rental costs by allowing goods to be packed closer together and stacked higher. Using the facility as a service will let seasonal companies cut back on the space and robot time they use during slow periods, rather than carry them all year. The warehouse should run with many fewer workers, Giordano said. And GreenBox will pay for upgrades to robots and software every few years, rather than making tenants invest more, he said. Walmart led investors on a tour of its Brooksville, Fla. warehouse in April, and said technology investments like the Symbotic alliance will let profits grow faster than sales. More than half of distribution volume will move through automated centers within three years, improving unit costs by about 20% as two-thirds of stores are served by automated systems. The company has said little about the impact on jobs, but CEO Doug McMillon said overall employment should stay about the same size but shift toward delivery from warehouse roles. Competition will be arriving soon enough, analysts say. Building something like Symbotic, and especially moving it down into the realm where companies other than global giants can afford it, takes a combination of technology, money and vision, Klappich said. Amazon could expand into the space, using its warehousing expertise in a service that resembles its Web hosting business model, or private-equity firms awash in investable cash might acquire combinations of companies to produce competing products and business models, Klappich said. For Softbank, the payoff if GreenBox works is potentially huge. Analysts on average project Symbotic shares to rise another 53% in the next year after pulling back amid recent recession fears, according to ratings aggregator TipRanks. With post-IPO estimates arguing that Arm shares will stagnate, and taking into account that Softbank paid a reported $36 billion for Arm in 2016, it's possible Symbotic will be the bigger win in the end, at least on a percentage basis, as the 65% share of GreenBox rises in value. CORRECTION: A previous version of this article included a quote from an exchange with a Softbank representative that shouldn't have been included in the finished report. Source: CNBC Sep 18, 2023: Instacart prices IPO at $30 a share, valuing grocery-delivery company at about $10 billion Key Points Instacart priced its IPO at $30 a share on Monday, at the top end of the expected range of $28 to $30. The grocery-delivery company has taken a massive valuation haircut from a peak of $39 billion in 2021 as investors shifted out of risk. Instacart will be the first notable venture-backed tech IPO in the U.S. since December 2021. Instacart, the grocery-delivery company that saw its business boom during the pandemic, priced its long-awaited IPO at $30 a share on Monday, and will become the first notable venture-backed tech company to hit the U.S. public market since December 2021. The offering came in at the top end of the expected range of $28 to $30 a share, and values Instacart at about $10 billion on a fully diluted basis. There were 22 million shares sold in the initial public offering, with 14.1 million coming from the company and 7.9 million from existing shareholders. The stock is set to debut on the Nasdaq Stock Market on Tuesday under ticker symbol "CART." The 11-year-old company, which delivers groceries from chains including Kroger, Costco and Wegmans, had to drop its stock price dramatically to make it appealing for public market investors. In early 2021, at the height of the Covid pandemic, Instacart raised money at a $39 billion valuation, or $125 a share, from prominent venture firms like Sequoia Capital and Andreessen Horowitz, along with big asset managers Fidelity and T. Rowe Price. The tech IPO market has been largely shuttered since December 2021, as inflationary pressures and rising interest rates pushed investors out of risk and led to a plunge in the prices of internet and software stocks. Instacart's performance, along with the upcoming debut of cloud software vendor Klaviyo, could help determine if other billion-dollar-plus companies in the pipeline are willing to test the waters. Instacart has sacrificed growth for profitability, proving in the process that its business model can generate earnings. Revenue increased 15% in the second quarter to $716 million, down from growth of 40% in the year-earlier period and about 600% in the early months of the pandemic. The company reduced headcount in mid-2022 and lowered costs associated with customer and shopper support. Instacart started generating earnings in the second quarter of 2022, and in the latest quarter reported $114 million in net income, up from $8 million a year prior. At $10 billion, Instacart will be valued at about 3.5 times annual revenue. Food-delivery provider DoorDash, which Instacart names as a competitor in its prospectus, trades at 4.25 times revenue. DoorDash's revenue in the latest quarter grew faster, at 33%, but the company is still losing money. Uber's stock trades for less than 3 times revenue. The ride-sharing company's Uber Eats business is also named as an Instacart competitor. The bulk of Instacart's competition is coming from Amazon as well as big brick-and-mortar retailers, like Target and Walmart, which have their own delivery services. Target acquired Shipt in 2017 for $550 million. Sequoia is Instacart's biggest investor, with a fully diluted stake of 15%. While the Silicon Valley firm is sitting on a paper profit of over $1 billion on its total investment, the $50 million in shares it purchased in 2021 are now worth about one-quarter that amount. Instacart co-founder Apoorva Mehta owns shares worth over $800 million, and is selling a small portion of them in the IPO. Mehta has been executive chair since the company appointed ex-Facebook executive Fidji Simo as his successor as CEO in 2021. Mehta is resigning from the board in conjunction with the IPO, and Simo is assuming the role of chair. Goldman Sachs and JPMorgan Chase are leading the deal. Only about 8% of Instacart's outstanding shares were floated in the offering, with 36% of those sold coming from existing shareholders. The company said co-founders Brandon Leonardo and Maxwell Mullen are each selling 1.5 million, while Mehta is selling 700,000. Former employees, including those who were in executive roles as well as in product and engineering, are selling a combined 3.2 million shares. Source: CNBC Aug 17, 2023: Walmart raises full-year earnings forecast as grocery, online growth fuel higher sales KEY POINTS Walmart lifted its outlook for the full fiscal year, after beating Wall Street's expectations for sales and earnings. E-commerce sales for Walmart U.S. jumped 24% year over year. Chief Financial Officer John David Rainey said there was "modest improvement" of sales of big-ticket and discretionary items in the quarter. Walmart on Thursday raised its full-year forecast, as the discounter leaned on its low-price reputation to draw grocery customers and drive online spending. The big-box retailer beat Wall Street's expectations for sales and profits. E-commerce sales for Walmart U.S. also jumped 24%. Walmart said it now expects full fiscal-year consolidated net sales to increase by about 4% to 4.5%. 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. In a CNBC interview, Chief Financial Officer John David Rainey said Walmart saw "modest improvement" in sales of big-ticket and discretionary items like electronics and home goods during the quarter. Sales of those products have been weaker for more than a year as Americans spend more on necessities like food. He said he feels better about spending patterns than he did three months ago. Yet he described the consumer as "choiceful or discerning." He said seasonal moments, such as the Fourth of July holiday and back-to-school, have helped drive sales. The company's shares closed more than 2% lower on Thursday. Here's what the company reported for the three-month period ended July 31 compared with what analysts were expecting, according to consensus estimates from Refinitiv: Earnings per share: $1.84 adjusted vs. $1.71 expected Revenue: $161.63 billion vs. $160.27 billion expected Walmart's net income for the fiscal second-quarter jumped by 53% to $7.89 billion, or $2.92 per share, compared with $5.15 billion, or $1.88 per share a year earlier. Customers visited Walmart's stores and website more often and bought more when they did. 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. That's higher than the 4.1% increase that analysts expected, according to FactSet. At Sam's Club, same-store sales rose 5.5%, excluding fuel, in line with analysts' expectations. Walmart's online sales in the U.S. grew, as customers bought more items from the company's growing third-party marketplace and placed more orders for store pickup and delivery. "It really shows that the value proposition for Walmart is much, more than just low prices or value. It's convenience today," Rainey said. "And so we're leaning heavily into that and really both aspects of this part of our business." Walmart has gained momentum with new revenue streams, too, including selling more advertisements and convincing more shoppers to sign up for its membership program, Walmart+. Those higher margin businesses are a major reason why CEO Doug McMillon has said he expects profits to grow faster than sales over the next five years. That upward trajectory continued in the most recent quarter. Sales for Walmart Connect, the company's advertising business in the U.S., grew 36% year over year. Also this week, Walmart announced changes to its leadership ranks. On Wednesday, it said Walmart International CEO Judith McKenna, a 27-year veteran, will retire in mid-September. Sam's Club CEO Kath McLay will step into her role. Chris Nicholas, the current chief operating officer of Walmart U.S., will become the new CEO of Sam's Club. Winning over frugal customers Walmart has stood apart from other retailers such as Target, which have struggled with softer sales. It is better insulated from shoppers' changing tastes and reactions to economic factors like high inflation because it sells more everyday staples as the nation's largest grocer. Rainey said he continues to be surprised by consumers and their "willingness to spend." But he added they still want to to save money. Customers are buying more food from Walmart's private brands, which typically cost less. In the grocery department at Walmart U.S., sales of private labels rose 9% year over year. Those brands make up 20% of Walmart's total U.S. sales. Shoppers may also be looking to save by making more of their own meals rather than dining out. Walmart has noticed "a little bit of a shift to cook from home," Rainey said. It saw an uptick in sales of prepared meals and tools to cook with, such as blenders and mixers. While general merchandise trends are improving, sales are still down by low single digits year over year, he said. Walmart's limited-time sales, called Rollbacks, have been especially popular. Walmart U.S. CEO John Furner said on an earnings call that the company saw a bump in sales when it offered items like backpacks and chips at a discount. It has had a higher number of Rollbacks in food than a year ago, he added. Cooling inflation, more optimism Walmart has seen inflation ease while other other challenges persist. In the year-ago period, Walmart and other retailers were trying to clear excess unsold merchandise. That led to both higher inventory levels and steeper discounts. As of the end of the second quarter, inventory was down 5% compared with a year ago, Rainey said on the earnings call. Walmart has also had fewer markdowns, he said. Food prices remain steady, but general merchandise prices have dropped compared with last year, Rainey said. Some staple grocery items, however, have fallen. Shoppers are buying more fresh meats, seafood and eggs as they've become more affordable, Rainey said. Back-to-school, one of the biggest seasons for retailers, has gotten off to an early and strong start, CEO Doug McMillon said. Those sales trends typically signal patterns for the months ahead, so they bode well for Halloween, the holidays and general merchandise sales in the second half of the year, he said. Even so, Rainey said the company is planning conservatively and watching the amount of general merchandise that it orders. He said consumers face newer pressures, such as the return of student loan payments that had been paused for more than three years because of the Covid pandemic. "While inflation is moderated and employment levels have been steady, credit markets have tightened," he said. "Energy prices are higher and some customers face additional expense from the resumption of student loan payments in October. As such, we continue to be appropriately measured in our outlook." Correction: Walmart's net income for the fiscal second-quarter jumped by 53% from a year earlier. An earlier version misstated the percentage. The company's prior guidance was for an adjusted earnings per share range of between $6.10 and $6.20. An earlier version mischaracterized the guidance. Source: CNBC Jan 31, 2023: Walmart: File SEC Form 10-K - Management's Discussion and Analysis 10-K MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Overview This discussion, which presents our results for the fiscal years ended January 31, 2023 ("fiscal 2023"), January 31, 2022 ("fiscal 2022") and January 31, 2021 ("fiscal 2021"), should be read in conjunction with our Consolidated Financial Statements and the accompanying notes. We intend for this discussion to provide the reader with information that will assist in understanding our financial statements, the changes in certain key items in those financial statements from period to period and the primary factors that accounted for those changes. We also discuss certain performance metrics that management uses to assess the Company's performance. Additionally, the discussion provides information about the financial results of each of the three segments to provide a better understanding of how each of those segments and its results of operations affect the financial position and results of operations of the Company as a whole. Throughout this Item 7, we discuss segment operating income, comparable store and club sales and other measures. Management measures the results of the Company's segments using each segment's operating income, including certain corporate overhead allocations, as well as other measures. From time to time, we revise the measurement of each segment's operating income and other measures as determined by the information regularly reviewed by our chief operating decision maker. Management also measures the results of comparable store and club sales, or comparable sales, a metric that indicates the performance of our existing stores and clubs by measuring the change in sales for such stores and clubs, for a particular period from the corresponding period in the previous year. Walmart's definition of comparable sales includes sales from stores and clubs open for the previous 12 months, including remodels, relocations, expansions and conversions, as well as eCommerce sales. We measure the eCommerce sales impact by including all sales initiated digitally, including omni-channel transactions which are fulfilled through our stores and clubs as well as certain other business offerings that are part of our flywheel strategy, such as our Walmart Connect advertising business. Sales at a store that has changed in format are excluded from comparable sales when the conversion of that store is accompanied by a relocation or expansion that results in a change in the store's retail square feet of more than five percent. Sales related to divested businesses are excluded from comparable sales, and sales related to acquisitions are excluded until such acquisitions have been owned for 12 months. Comparable sales are also referred to as "same-store" sales by others within the retail industry. The method of calculating comparable sales varies across the retail industry. As a result, our calculation of comparable sales is not necessarily comparable to similarly titled measures reported by other companies. In discussing our operating results, the term currency exchange rates refers to the currency exchange rates we use to convert the operating results for countries where the functional currency is not the U.S. dollar into U.S. dollars. We calculate the effect of changes in currency exchange rates as the difference between current period activity translated using the current period's currency exchange rates and the comparable prior year period's currency exchange rates. Additionally, no currency exchange rate fluctuations are calculated for non-USD acquisitions until owned for 12 months. Throughout our discussion, we refer to the results of this calculation as the impact of currency exchange rate fluctuations. Volatility in currency exchange rates may impact the results, including net sales and operating income, of the Company and the Walmart International segment in the future. We have taken certain strategic actions to strengthen our portfolio, primarily in the Walmart International segment, including the following highlights over the last three years: In November 2020, we completed the sale of Walmart Argentina and recorded a pre-tax non-cash loss in fiscal 2021 of $1.0 billion, primarily due to cumulative foreign currency translation losses. Refer to Note 12. In February 2021, we completed the sale of Asda for net consideration of $9.6 billion, for which we recognized an estimated pre-tax loss in fiscal 2021 of $5.5 billion, and an incremental loss of $0.2 billion in fiscal 2022 upon closing of the transaction. Refer to Note 11 and Note 12. In March 2021, we completed the sale of Seiyu for net consideration of $1.2 billion, for which we recognized an estimated pre-tax loss in fiscal 2021 of $1.9 billion, and an incremental loss of $0.2 billion in fiscal 2022 upon closing of the transaction. Refer to Note 12. In November 2022, we completed the buyout of the noncontrolling interest shareholders of our Massmart subsidiary (Refer to Note 3) and in December 2022, we exited operations in certain countries in Africa. In December 2022, we increased our ownership in PhonePe as part of the separation from our majority-owned Flipkart subsidiary. Refer to Note 3. We operate in a highly competitive omni-channel retail industry in all of the markets we serve. We face strong sales competition from other discount, department, drug, dollar, variety and specialty stores, warehouse clubs and supermarkets, as well as eCommerce, health and wellness, financial services, advertising, and data service businesses. Many of these competitors are national, regional or international chains or have a national or international omni-channel or eCommerce presence. We compete with a number of companies for attracting and retaining quality associates. We, along with other retail companies, are influenced by a number of factors including, but not limited to: catastrophic events, weather and other risks related to climate change, global health epidemics, including the COVID-19 pandemic, competitive pressures, consumer disposable income, consumer debt levels and buying patterns, consumer credit availability, disruptions in supply chain, inventory management, cost and availability of goods, currency exchange rate fluctuations, customer preferences, inflation, deflation, fuel and energy prices, general economic conditions, insurance costs, interest rates, labor availability and costs, tax rates, the imposition of tariffs, cybersecurity attacks and unemployment. Further information on the factors that can affect our operating results and on certain risks to our Company and an investment in its securities can be found herein under "Item 1A. Risk Factors." We are committed to helping customers save money and live better through everyday low prices, supported by everyday low costs. However, like other retail companies, we have seen supply chain disruptions contributing to higher than normal inventory levels throughout the year. In addition, our merchandise costs for the fiscal year ended January 31, 2023 have been impacted by high inflation, greater than what we have experienced in recent years. The impact to our net sales and gross profit margin is influenced in part by our pricing and merchandising strategies in response to cost increases. Those pricing strategies include, but are not limited to: absorbing cost increases instead of passing those cost increases on to our customers and members; reducing prices in certain merchandise categories; focusing on opening price points for certain food categories; and when necessary, passing cost increases on to our customers and members. Merchandising strategies include, but are not limited to: working with our suppliers to reduce product costs and share in absorbing cost increases; focusing on private label brands and smaller pack sizes; earlier-than-usual purchasing and in greater volumes or moderating purchasing in certain categories; and securing ocean carrier and container capacity. These strategies have and may continue to impact gross profit as a percentage of net sales. We expect continued uncertainty in our business and the global economy due to pressure from inflation; swings in macroeconomic conditions and their effect on consumer confidence; volatility in employment trends; supply chain pressures; and ongoing uncertainties related to global health epidemics or pandemics, any of which may impact our results. For a detailed discussion on results of operations by reportable segment, refer to "Results of Operations" below. Company Performance Metrics We are committed to helping customers save money and live better through everyday low prices, supported by everyday low costs. At times, we adjust our business strategies to maintain and strengthen our competitive positions in the countries in which we operate. We define our financial framework as: strong, efficient growth; consistent operating discipline; and strategic capital allocation. As we execute on this financial framework, we believe our returns on capital will improve over time. Strong, Efficient Growth Our objective of prioritizing strong, efficient growth means we will focus on the most productive growth opportunities, increasing comparable store and club sales through increasing membership at Sam's Club and through Walmart+, accelerating eCommerce sales growth and expanding omni-channel initiatives that complement our flywheel strategy. At times, we make strategic investments which are focused on the long-term growth of the Company. Comparable sales is a metric that indicates the performance of our existing stores and clubs by measuring the change in sales for such stores and clubs, including eCommerce sales, for a particular period over the corresponding period in the previous year. The retail industry generally reports comparable sales using the retail calendar (also known as the 4-5-4 calendar). To be consistent with the retail industry, we provide comparable sales using the retail calendar in our quarterly earnings releases. However, when we discuss our comparable sales below, we are referring to our calendar comparable sales calculated using our fiscal calendar, which may result in differences when compared to comparable sales using the retail calendar. Calendar comparable sales, including the impact of fuel, for fiscal 2023 and 2022, were as follows: Comparable sales in the U.S., including fuel, increased 8.2% and 7.7% in fiscal 2023 and 2022, respectively, when compared to the previous fiscal year. Walmart U.S. comparable sales increased 7.0% and 6.4% in fiscal 2023 and 2022, respectively. For fiscal 2023, comparable sales growth was driven by growth in average ticket, including strong food sales and higher inflation impacts in certain merchandise categories, as well as growth in transactions. For fiscal 2022, comparable sales growth was driven driven by growth in average ticket and transactions, which included strong consumer spending from government stimulus and some higher inflation impacts in certain merchandise categories compared to recent years. Walmart U.S. eCommerce sales positively contributed approximately 0.7% to comparable sales for both fiscal 2023 and 2022 as we continue to focus on a seamless omni-channel experience for our customers. Comparable sales at Sam's Club increased 14.6% and 15.0% in fiscal 2023 and 2022, respectively. For fiscal 2023, Sam's Club comparable sales benefited from growth in transactions and average ticket and included higher inflation impacts in certain merchandise categories. Sam's Club comparable sales for fiscal 2022 benefited from growth in transactions and average ticket and was aided by consumer spending due to government stimulus, and also included some higher inflation impacts in certain merchandise categories compared to recent years. The growth in comparable sales was partially offset by our decision to remove tobacco from certain club locations. Sam's Club eCommerce sales positively contributed approximately 0.8% and 1.3% to comparable sales for fiscal 2023 and 2022, respectively. Consistent Operating Discipline We operate with discipline by managing expenses, optimizing the efficiency of how we work and creating an environment in which we have sustainable lowest cost to serve. We invest in technology and process improvements to increase productivity, manage inventory and reduce costs. We measure operating discipline through expense leverage, which we define as net sales growing at a faster rate than operating, selling, general and administrative ("operating") expenses. Fiscal Years Ended January 31, For fiscal 2023, operating expenses as a percentage of net sales increased 23 basis points when compared to the previous fiscal year. Operating expenses as a percentage of net sales were impacted by charges of $3.3 billion related to opioid-related legal settlements and charges of $0.8 billion related to the reorganization and restructuring of certain businesses in the Walmart International segment. These charges were partially offset by growth in net sales and lower incremental COVID-19 costs. For fiscal 2022, operating expenses as a percentage of net sales decreased 19 basis points when compared to the previous fiscal year. Operating expenses as a percentage of net sales benefited from growth in comparable sales and lower incremental COVID-19 related costs of $2.5 billion as compared to the previous year, partially offset by increased wage investments primarily in the Walmart U.S. segment. Strategic Capital Allocation Our strategy includes improving our customer-facing initiatives in stores and clubs and creating a seamless omni-channel experience for our customers. As such, we continue to allocate more capital to supply chain, omni-channel initiatives, technology and store remodels and less to new store and club openings. The following table provides additional detail: Returns As we execute our financial framework, we believe our return on capital will improve over time. We measure return on capital with our return on assets, return on investment and free cash flow metrics. We also provide returns in the form of share repurchases and dividends, which are discussed in the Liquidity and Capital Resources section. Return on Assets and Return on Investment We include Return on Assets ("ROA"), the most directly comparable measure based on our financial statements presented in accordance with generally accepted accounting principles in the U.S. ("GAAP"), and Return on Investment ("ROI") as metrics to assess returns on assets. While ROI is considered a non-GAAP financial measure, management believes ROI is a meaningful metric to share with investors because it helps investors assess how effectively Walmart is deploying its assets. Trends in ROI can fluctuate over time as management balances long-term strategic initiatives with possible short-term impacts. ROA was 4.6% and 5.6% for fiscal 2023 and 2022, respectively. The decrease in ROA was primarily due to the decrease in net income, which was driven by lower operating income, partially offset by lapping debt extinguishment charges. ROI was 12.7% and 14.9% for fiscal 2023 and 2022, respectively, which was primarily due to a decrease in operating income which included charges associated with opioid-related legal settlements as well as reorganization and restructuring expenses, all recorded in fiscal 2023. We define ROI as adjusted operating income (operating income plus interest income, depreciation and amortization, and rent expense) for the trailing twelve months divided by average invested capital during that period. We consider average invested capital to be the average of our beginning and ending total assets, plus average accumulated depreciation and average amortization, less average accounts payable and average accrued liabilities for that period. Our calculation of ROI is considered a non-GAAP financial measure because we calculate ROI using financial measures that exclude and include amounts that are included and excluded in the most directly comparable GAAP financial measure. For example, we exclude the impact of depreciation and amortization from our reported operating income in calculating the numerator of our calculation of ROI. As mentioned above, we consider ROA to be the financial measure computed in accordance with GAAP most directly comparable to our calculation of ROI. ROI differs from ROA (which is consolidated net income for the period divided by average total assets for the period) because ROI: adjusts operating income to exclude certain expense items and adds interest income; and adjusts total assets for the impact of accumulated depreciation and amortization, accounts payable and accrued liabilities to arrive at total invested capital. Because of the adjustments mentioned above, we believe ROI more accurately measures how we are deploying our key assets and is more meaningful to investors than ROA. Although ROI is a standard financial measure, numerous methods exist for calculating a company's ROI. As a result, the method used by management to calculate our ROI may differ from the methods used by other companies to calculate their ROI. The calculation of ROA and ROI, along with a reconciliation of ROI to the calculation of ROA, the most comparable GAAP financial measure, is as follows: Free Cash Flow Free cash flow is considered a non-GAAP financial measure. Management believes, however, that free cash flow, which measures our ability to generate additional cash from our business operations, is an important financial measure for use in evaluating the Company's financial performance. Free cash flow should be considered in addition to, rather than as a substitute for, consolidated net income as a measure of our performance and net cash provided by operating activities as a measure of our liquidity. See "Liquidity and Capital Resources" for discussions of GAAP metrics including net cash provided by operating activities, net cash used in investing activities and net cash used in financing activities. We define free cash flow as net cash provided by operating activities in a period minus payments for property and equipment made in that period. We had net cash provided by operating activities of $28.8 billion, $24.2 billion and $36.1 billion for fiscal 2023, 2022 and 2021, respectively. We generated free cash flow of $12.0 billion, $11.1 billion and $25.8 billion for fiscal 2023, 2022 and 2021, respectively. Net cash provided by operating activities for fiscal 2023 increased when compared to fiscal 2022. The increase is primarily due to moderated levels of inventory purchases, partially offset by a decline in operating income and the timing of certain payments. Free cash flow for fiscal 2023 increased when compared to fiscal 2022 due to the increase in operating cash flows described above, partially offset by an increase of $3.8 billion in capital expenditures to support our investment strategy. Net cash provided by operating activities for fiscal 2022 decreased when compared to fiscal 2021 primarily due to an increase in inventory costs and purchases to support strong sales and lapping the impact of accelerated inventory sell-through in fiscal 2021, as well as timing and payment of wages. Free cash flow for fiscal 2022 decreased when compared to fiscal 2021 due to the same reasons as the decrease in net cash provided by operating activities, as well as $2.8 billion in increased capital expenditures. Walmart's definition of free cash flow is limited in that it does not represent residual cash flows available for discretionary expenditures due to the fact that the measure does not deduct the payments required for debt service and other contractual obligations or payments made for business acquisitions. Therefore, we believe it is important to view free cash flow as a measure that provides supplemental information to our Consolidated Statements of Cash Flows. Although other companies report their free cash flow, numerous methods may exist for calculating a company's free cash flow. As a result, the method used by management to calculate our free cash flow may differ from the methods used by other companies to calculate their free cash flow. The following table sets forth a reconciliation of free cash flow, a non-GAAP financial measure, to net cash provided by operating activities, which we believe to be the GAAP financial measure most directly comparable to free cash flow, as well as information regarding net cash used in investing activities and net cash used in financing activities. (1) "Net cash used in investing activities" includes payments for property and equipment, which is also included in our computation of free cash flow. Results of Operations Consolidated Results of Operations (1) Unit counts and associated retail square feet are presented for stores and clubs generally open as of period end, and reflects the removal of stores in the U.K. and Japan subsequent to closing the divestitures in fiscal 2022. Permanently closed locations are not included in these metrics. Our total revenues, which includes net sales and membership and other income, increased $38.5 billion or 6.7% and $13.6 billion or 2.4% for fiscal 2023 and 2022, respectively, when compared to the previous fiscal year. These increases in revenues were primarily due to increases in net sales, which increased $38.1 billion or 6.7% and $12.5 billion or 2.3% for fiscal 2023 and 2022, respectively, when compared to the previous fiscal year. For fiscal 2023, the increase was primarily due to strong positive comparable sales for the Walmart U.S. and Sam's Club segments which was driven by growth in average ticket, including strong food sales and higher inflation impacts in certain merchandise categories, as well as growth in transactions, along with positive comparable sales in all of our international markets. Additionally, net sales were negatively impacted by a decrease of $5.0 billion related to the divestiture of our operations in the U.K. and Japan, which closed in the first quarter of fiscal 2022 and $3.7 billion of fluctuations in currency exchange rates during fiscal 2023. For fiscal 2022, the increase was primarily due to strong positive comparable sales for the Walmart U.S. and Sam's Club which benefited from strong U.S. consumer spending and some inflation, along with positive comparable sales in most of our remaining international markets. The increase was partially offset by a $32.6 billion net sales decrease primarily related to the divestiture of our operations in the U.K. and Japan, which closed in the first quarter of fiscal 2022. Net sales also benefited from a $4.5 billion positive impact of fluctuations in currency exchange rates during fiscal 2022. Our gross profit rate decreased 98 and increased 14 basis points for fiscal 2023 and 2022, respectively, when compared to the previous fiscal year. For fiscal 2023, the decrease was primarily due to markdowns and merchandise mix in the U.S., higher supply chain costs and inflation related LIFO charges in the Sam's Club segment. For fiscal 2022, the increase was primarily due to price management in the Walmart U.S. segment driven by cost inflation as well as merchandise mix, partially offset by increased supply chain costs. For fiscal 2023, operating expenses as a percentage of net sales increased 23 basis points when compared to the previous fiscal year. Operating expenses as a percentage of net sales were impacted by charges of $3.3 billion related to opioid-related legal settlements and charges of $0.8 billion related to the reorganization and restructuring of certain businesses in the Walmart International segment. These charges were partially offset by growth in net sales and lower incremental COVID-19 costs. For fiscal 2022, operating expenses as a percentage of net sales decreased 19 basis points when compared to the previous fiscal year. Operating expenses as a percentage of net sales benefited from growth in comparable sales and lower incremental COVID-19 related costs of $2.5 billion as compared to the previous year, partially offset by increased wage investments primarily in the Walmart U.S. segment. Loss on extinguishment of debt was $2.4 billion in fiscal 2022 due to the early retirement of certain higher rate long-term debt to reduce interest expense in future periods. Other gains and losses consist of certain non-operating items, such as the change in the fair value of our investments and gains or losses on business dispositions, which by their nature can fluctuate from period to period. Other gains and losses consisted of a net loss of $1.5 billion and $3.0 billion for fiscal 2023 and 2022, respectively. The net loss in fiscal 2023 primarily consists of: (a) net losses associated with the fair value changes of our equity and other investments; (b) a gain of $0.4 billion recognized on the sale of our remaining equity method investment in Brazil; and (c) a $0.2 billion dividend from one of our investments. The net loss in fiscal 2022 primarily consists of net losses associated with the fair value changes of our equity investments, as well as $0.4 billion in incremental losses associated with the divestitures of our operations in the U.K. and Japan, which closed in the first quarter of fiscal 2022. Our effective income tax rate was 33.6% for fiscal 2023, 25.4% for fiscal 2022, and 33.3% for fiscal 2021, respectively. The increase in our effective tax rate for fiscal 2023 as compared to fiscal 2022 is primarily due to the tax impact of the business reorganization resulting in the full separation of PhonePe from Flipkart. The decrease in our effective tax rate for fiscal 2022 as compared to fiscal 2021 is primarily due to the $8.3 billion loss related to the divestiture of certain international operations classified as held for sale or sold in fiscal 2021, which provided minimal realizable tax benefit. Our effective income tax rate may also fluctuate as a result of various factors, including changes in our assessment of unrecognized tax benefits, valuation allowances, changes in tax law, outcomes of administrative audits, the impact of discrete items and the mix and size of earnings among our U.S. operations and international operations, which are subject to statutory rates that are generally higher than the U.S. statutory rate. The reconciliation from the U.S. statutory rate to the effective income tax rates for fiscal 2023, 2022 and 2021 is presented in Note 9. As a result of the factors discussed above, we reported $11.3 billion and $13.9 billion of consolidated net income for fiscal 2023 and 2022, respectively, which represents a decrease of $2.6 billion and an increase of $0.2 billion for fiscal 2023 and 2022, respectively, when compared to the previous fiscal year. Diluted net income per common share attributable to Walmart ("EPS") was $4.27, $4.87 and $4.75 for fiscal 2023, 2022 and 2021, respectively. Walmart U.S. Segment Net sales for the Walmart U.S. segment increased $27.3 billion or 6.9% and $23.3 billion or 6.3% for fiscal 2023 and 2022, respectively, when compared to the previous fiscal year. The increases in net sales were primarily due to increases in comparable sales of 7.0% and 6.4% for fiscal 2023 and 2022, respectively. Comparable sales in fiscal 2023 were driven by growth in average ticket, including strong food sales and higher inflation impacts in certain merchandise categories, as well as growth in transactions. Comparable sales in fiscal 2022 were driven by growth in average ticket and transactions, which included strong consumer spending from government stimulus and some higher inflation impacts in certain merchandise categories compared to recent years. Walmart U.S. eCommerce sales positively contributed approximately 0.7% to comparable sales for both fiscal 2023 and 2022, as we continue to focus on a seamless omni-channel experience for our customers. Gross profit rate decreased 85 basis points for fiscal 2023 and increased 51 basis points for fiscal 2022, when compared to the respective previous fiscal year. The decrease in fiscal 2023 gross profit rate was primarily due to net markdowns and product mix shifts into lower margin categories and increased supply chain costs, partially offset by price management impacts driven by cost inflation. Gross profit rate for fiscal 2022 benefited from price management driven by cost inflation as well as merchandise mix, which includes lapping the temporary closures of our Auto Care and Vision Centers and growth in our advertising business, partially offset by increased supply chain costs. Operating expenses as a percentage of segment net sales decreased 25 basis points for fiscal 2023 when compared to the previous fiscal year primarily driven by strong sales growth and lower incremental COVID-19 related costs, partially offset by increased wage costs. For fiscal 2022, operating expenses as a percentage of segment net sales increased 31 basis points primarily due to investments in wages, partially offset by lower incremental COVID-19 related costs of $1.9 billion. As a result of the factors discussed above, segment operating income decreased $1.0 billion and increased $2.5 billion for fiscal 2023 and 2022, respectively, when compared to the previous fiscal year. Walmart International Segment Net sales for the Walmart International segment were flat and decreased $20.4 billion or 16.8% for fiscal 2023 and 2022, respectively, when compared to the previous fiscal year. For fiscal 2023, net sales benefited from positive comparable sales in all of our international markets, offset by the impacts of a decrease of $5.0 billion related to the divestiture of our operations in the U.K. and Japan, which closed in the first quarter of fiscal 2022, as well as $3.7 billion of fluctuations in currency exchange rates during fiscal 2023. For fiscal 2022, the reduction in net sales was driven by a $32.6 billion decrease primarily related to the divestitures of our operations in the U.K. and Japan, which closed during the first quarter of fiscal 2022. This decrease was partially offset by positive comparable sales in most of our remaining markets, as well as positive fluctuations in currency exchange rates of $4.5 billion. Gross profit rate decreased 50 basis points and 55 basis points for fiscal 2023 and 2022, respectively, when compared to the previous fiscal year. For fiscal 2023, the decrease was primarily driven by continued growth in lower margin formats and channels in China and category mix shifts into lower margin categories. For fiscal 2022, the decrease was primarily driven by shifts into lower margin formats and the impact related to our divested markets. Operating expenses as a percentage of segment net sales increased 41 basis points and decreased 71 basis points for fiscal 2023 and 2022, respectively, when compared to the previous fiscal year. The increase in operating expenses as a percentage of segment net sales for fiscal 2023 was primarily due to business reorganization and restructuring charges incurred related to Flipkart and Massmart during the fourth quarter. For fiscal 2022, the decrease was primarily due to impacts from the divested markets and $0.4 billion of lower incremental COVID-19 related costs. Operating expenses as a percentage of net sales benefited from depreciation and amortization expense not having been recorded for our operations in the U.K. and Japan subsequent to their held for sale classification at the end of fiscal 2021 and prior to closing during the first quarter of fiscal 2022. As a result of the factors discussed above, segment operating income decreased $0.8 billion and increased $0.1 billion for fiscal 2023 and 2022, respectively, when compared to the previous fiscal year. Sam's Club Segment Fiscal Years Ended January 31, (1) We believe the "Excluding Fuel" information is useful to investors because it permits investors to understand the effect of the Sam's Club segment's fuel sales on its results of operations, which are impacted by the volatility of fuel prices. Volatility in fuel prices may continue to impact the operating results of the Sam's Club segment in the future. Management uses such information to better measure underlying operating results in the segment. Net sales for the Sam's Club segment increased $10.8 billion or 14.7% and $9.6 billion or 15.1% for fiscal 2023 and 2022, respectively, when compared to the previous fiscal year. For fiscal 2023, the increase was primarily due to comparable sales growth, including fuel, of 14.6%. Comparable sales benefited from growth in transactions and average ticket and included higher inflation impacts in certain merchandise categories. Sam's Club eCommerce sales positively contributed approximately 0.8% to comparable sales which was primarily driven by ship to home and curbside pickup. For fiscal 2022, the increase was primarily due to comparable sales growth, including fuel, of 15.0%. Comparable sales benefited from growth in transactions and average ticket due to increased consumer spending, which was aided by government stimulus, and also includes some higher inflation impacts in certain merchandise categories. The growth in comparable sales was partially offset by our decision to remove tobacco from certain club locations. Sam's Club eCommerce sales positively contributed approximately 1.3% to comparable sales. Gross profit rate decreased 155 basis points and 68 basis points for fiscal 2023 and 2022, respectively, when compared to the previous fiscal year. For fiscal 2023, the decrease in gross profit rate was primarily due to inventory write-downs, elevated supply chain and eCommerce fulfillment costs and inflation related LIFO charges. For fiscal 2022, gross profit rate decreased primarily due to increased fuel sales which have lower margins, cost inflation, and higher supply chain costs, partially offset by favorable sales mix, including reduced tobacco sales. Membership and other income increased 7.0% and 13.1% for fiscal 2023 and 2022, respectively, when compared to the previous fiscal year. For fiscal 2023 and 2022, the increase was primarily due to increases in new member sign-ups and Plus member penetration. Operating expenses as a percentage of segment net sales decreased 97 basis points and 82 basis points for fiscal 2023 and 2022, respectively, when compared to the previous fiscal year. Fiscal 2023 operating expenses as a percentage of net sales decreased primarily due to higher sales. Fiscal 2022 operating expenses as a percentage of net sales decreased primarily due to higher sales as well as a benefit from $0.2 billion of lower incremental COVID-19 related costs, partially offset by reduced tobacco sales. As a result of the factors discussed above, segment operating income decreased $0.3 billion and increased $0.4 billion for fiscal 2023 and 2022, respectively, when compared to the previous fiscal year. Liquidity and Capital Resources Liquidity The strength and stability of our operations have historically supplied us with a significant source of liquidity. Our cash flows provided by operating activities, supplemented with our long-term debt and short-term borrowings, have been sufficient to fund our operations while allowing us to invest in activities that support the long-term growth of our operations. Generally, some or all of the remaining available cash flow has been used to fund dividends on our common stock and share repurchases. We believe our sources of liquidity will continue to be sufficient to fund operations, finance our global investment activities, pay dividends and fund our share repurchases for at least the next 12 months and thereafter for the foreseeable future. Net Cash Provided by Operating Activities Net cash provided by operating activities was $28.8 billion, $24.2 billion and $36.1 billion for fiscal 2023, 2022 and 2021, respectively. Net cash provided by operating activities for fiscal 2023 increased when compared to the previous fiscal year. The increase is primarily due to moderated levels of inventory purchases, partially offset by a decline in operating income and the timing of certain payments. The decrease in net cash provided by operating activities for fiscal 2022, when compared to the previous fiscal year, was primarily due to an increase in inventory costs and purchases to support strong sales and lapping the impact of accelerated inventory sell-through in fiscal 2021, as well as timing and payment of wages. Cash Equivalents and Working Capital Deficit Cash and cash equivalents were $8.6 billion and $14.8 billion as of January 31, 2023 and 2022, respectively. Our working capital deficit, defined as total current assets less total current liabilities, was $16.5 billion and $6.3 billion as of January 31, 2023 and 2022, respectively. The increase in our working capital deficit is primarily driven by a decrease in cash and cash equivalents and an increase in accrued liabilities. We generally operate with a working capital deficit due to our efficient use of cash in funding operations, consistent access to the capital markets and returns provided to our shareholders in the form of payments of cash dividends and share repurchases. We use intercompany financing arrangements in an effort to ensure cash can be made available in the country in which it is needed with the minimum cost possible. Additionally, from time-to-time, we repatriate earnings and related cash from jurisdictions outside of the U.S. Historically, U.S. taxes were due upon repatriation of foreign earnings. Due to the enactment of U.S. tax reform, repatriations of foreign earnings will generally be free of U.S. federal tax, but may incur other taxes such as withholding or state taxes. We do not expect current local laws, other existing limitations on anticipated future repatriations of cash amounts held outside the U.S. to have a material effect on our overall liquidity, financial position or results of operations. As of January 31, 2023 and 2022, cash and cash equivalents of $2.9 billion and $4.3 billion, respectively, may not be freely transferable to the U.S. due to local laws or other restrictions or are subject to the approval of the noncontrolling interest shareholders. Summary of Critical Accounting Estimates Management strives to report our financial results in a clear and understandable manner, although in some cases accounting and disclosure rules are complex and require us to use technical terminology. In preparing the Company's Consolidated Financial Statements, we follow accounting principles generally accepted in the U.S. These principles require us to make certain estimates and apply judgments that affect our financial position and results of operations as reflected in our financial statements. These judgments and estimates are based on past events and expectations of future outcomes. Actual results may differ from our estimates. Management continually reviews our accounting policies including how they are applied and how they are reported and disclosed in our financial statements. Following is a summary of our critical accounting estimates and how they are applied in preparation of the financial statements. Inventories The Walmart U.S. segment comprises the largest portion of our inventory and is primarily accounted for under the retail inventory method of accounting to determine inventory cost, using the last-in, first-out ("LIFO") valuation method. The majority of the Sam's Club segment inventories are accounted for and valued using the weighted-average cost LIFO method. When necessary, we record a LIFO provision for the estimated annual effect of inflation, and these estimates are adjusted to actual results determined at year-end. As a measure of sensitivity, an incremental 1% inflationary impact to the cost of our inventory purchases would not have resulted in a material increase to the LIFO provision recorded during fiscal 2023. Indefinite-Lived Intangible Assets Intangible assets acquired in a business combination are stated at the fair value acquired as determined by a valuation technique commensurate with the intended use of the related asset. Significant estimates in valuing certain intangible assets include, but are not limited to, the amount and timing of future cash flows, growth rates, discount rates and useful lives. Indefinite-lived acquired intangible assets are not amortized but are evaluated for impairment annually and whenever events or changes in circumstances indicate that the value of the asset may be impaired. Generally, this evaluation begins with a qualitative assessment to determine whether a quantitative impairment test is necessary. If we determine, after performing an assessment based on qualitative factors, that the fair value of the indefinite-lived acquired intangible asset is more likely than not less than the carrying amount, then a quantitative impairment test would be performed. The quantitative test for impairment requires management to make judgments relating to future cash flows, growth rates and economic and market conditions. Our indefinite-lived acquired intangible assets have historically generated sufficient returns to recover their cost. Because of the nature of the factors used in these tests, if different conditions occur in future periods, future operating results could be materially impacted. Contingencies We are involved in a number of legal proceedings and certain regulatory matters. We record a liability when it is probable that a loss has been incurred and the amount is reasonably estimable. We also perform an assessment of the materiality of loss contingencies where a loss is either reasonably possible or it is reasonably possible that a loss could be incurred in excess of amounts accrued. If a loss or an additional loss has at least a reasonable possibility of occurring and the impact on the financial statements would be material, we provide disclosure of the loss contingency in the footnotes to our financial statements. We review all contingencies at least quarterly to determine whether the likelihood of loss has changed and to assess whether a reasonable estimate of the loss or the range of the loss can be made. Although we are not able to predict the outcome or reasonably estimate a range of possible losses in certain matters described in Note 10 to our Consolidated Financial Statements and have not recorded an associated accrual related to these matters, an adverse judgment or negotiated resolution in any of these matters could have a material adverse effect on our business, reputation, financial position, results of operations or cash flows. Income Taxes Income taxes have a significant effect on our net earnings. We are subject to income taxes in the U.S. and numerous foreign jurisdictions. Accordingly, the determination of our provision for income taxes requires judgment, the use of estimates in certain cases and the interpretation and application of complex tax laws. Our effective income tax rate is affected by many factors, including changes in our assessment of unrecognized tax benefits, increases and decreases in valuation allowances, changes in tax law, outcomes of administrative audits, the impact of discrete items and the mix of earnings among our U.S. and international operations where the statutory rates are generally higher than the U.S. statutory rate, and may fluctuate as a result. Our tax returns are routinely audited and settlements of issues raised in these audits sometimes affect our tax provisions. The benefits of uncertain tax positions are recorded in our financial statements only after determining a more likely than not probability that the uncertain tax positions will withstand challenge, if any, from taxing authorities. When facts and circumstances change, we reassess these probabilities and record any changes in the financial statements as appropriate. We account for uncertain tax positions by determining the minimum recognition threshold that a tax position is required to meet before being recognized in the financial statements. This determination requires the use of judgment in evaluating our tax positions and assessing the timing and amounts of deductible and taxable items. Deferred tax assets represent amounts available to reduce income taxes payable on taxable income in future years. Such assets arise because of temporary differences between the financial reporting and tax bases of assets and liabilities, as well as from net operating loss and tax credit carryforwards. Deferred tax assets are evaluated for future realization and reduced by a valuation allowance to the extent that a portion is not more likely than not to be realized. Many factors are considered when assessing whether it is more likely than not that the deferred tax assets will be realized, including recent cumulative earnings, expectations of future taxable income, carryforward periods and other relevant quantitative and qualitative factors. The recoverability of the deferred tax assets is evaluated by assessing the adequacy of future expected taxable income from all sources, including reversal of taxable temporary differences, forecasted operating earnings and available tax planning strategies. This evaluation relies on estimates. As guidance is issued by the U.S. Treasury Department, the IRS, and other standard-setting bodies, any resulting changes to our estimates will be treated in accordance with the relevant accounting guidance. 2022 Sep 08, 2022: 3 Reasons I Wouldn't Buy Walmart Stock Today SEP 8, 2022 05:15AM EDT Big-box retailer Walmart (NYSE: WMT) and its peers have been struggling with excess inventory, rising costs, and supply chain issues this year. The good news is the company is coming off a strong quarter where it beat expectations for both earnings and revenue. It posted solid comparable sales growth, and e-commerce sales were also up. But despite the positive news, this still isn't a stock I would buy today. Here are three main reasons why. 1. Its low margins don't leave much room for error One of the big problems with Walmart is that the company's margins are really low -- often in single-digit percentages. This isn't normally a problem, as the low-cost retailer often competes on price. However, this may be especially problematic this year with rising costs still plaguing the industry, as there could be headwinds ahead for the business that further shrink its bottom line. Even earning a 4% profit margin is an achievement for the business. WMT Profit Margin (Quarterly) Chart WMT Profit Margin (Quarterly) data by YCharts A low margin doesn't give the company much of a buffer, and it's one of the reasons I wasn't surprised tech giant Amazon dipped into the red this year. At a time when price-sensitive shoppers could be opting for dollar stores instead of department stores in an effort to keep their budgets under control, Walmart's top line could struggle, leading to a worsening bottom line. Despite Walmart reporting comparable sales growth (excluding fuel) of 6.5% in the U.S. for the period ending July 31, the company didn't raise its guidance for the second half of the year. In other words, it still projects comparable U.S. sales growth of just 3%. That suggests the company is cautious about the rest of 2022, and rightfully so. 2. High inventory levels suggest the bottom line will face more pressure Another area of concern is the retail company's inventory levels, which remain elevated compared to previous years. Sponsored Links Philips Beard Trimmer Philips Trimmer WMT Inventories (Quarterly) Chart WMT Inventories (Quarterly) data by YCharts While management has said it has taken action to improve inventory levels, there still appears to be a problem that could lead to larger-than-expected discounts. Consequently, this could put more pressure on the company's margins. In other words, during the current quarter we could see more aggressive discounting from Walmart. The retailer will be preparing for the busy holiday season and may need to move out inventory to make room for seasonal items. 3. Walmart is trading at a high valuation The biggest problem I have with Walmart's stock is that it's simply too expensive. That's especially true given the aforementioned challenges and headwinds. At a forward price-to-earnings multiple of 22.6x, it's trading at a higher premium than rival Target. (Investors are paying 20.4 times future profits for Target). Meanwhile, the S&P 500 averages an even lower multiple of 17.5x. Without more of a discount in its share price, Walmart's stock just isn't cheap enough to buy, given the near-term risks it faces. And in the longer term, it looks intent on battling it out with Amazon, recently announcing plans to bolster its Walmart+ subscription with streaming video. That could strain its bottom line and make the stock a less attractive buy, even for long-term investors. At a time when many stocks are incredibly cheap, Walmart isn't an optimal choice. There are many other, better discounted stocks that investors should buy before considering the retailer. Source: Nasdaq Sep 08, 2022: P&G-Sponsored Beauty Recycling Centers Debut In 25 Walmart Stores 08 Sep 2022 Executive Summary Selected US Walmart stores will help keep "traditionally non-recyclable beauty waste" out of landfills by offering drop-off points for used product packaging. The pilot program is being sponsored by Procter & Gamble Co. in partnership with TerraCycle. Source: HBW Insight Sep 08, 2022: Global Education Digital Trends Report 2022: CX and Communications and Collaboration Solutions, and Programmable Platforms Must be Leveraged as Key Enablers DUBLIN, Sept. 8, 2022 /PRNewswire/ -- The "Digital Trends in Education - 2022 Investment Plans Address Talent Shortage and Remote Learning" report has been added to ResearchAndMarkets.com's offering. The analyst has identified that the education vertical is ripe for digital transformation and adoption of modern communications and collaboration technologies to improve operational efficiencies, improve instructor performance and enhance students' experience. COVID-19 unmasked this sector's lack of preparedness to address the sudden need for social distancing. From remote classes to mass communications, education organizations made significant efforts to maintain operations and engagement. With students back in classrooms as the pandemic becomes more contained, other issues have come into play. The great resignation, inflation, the desire for a work-life balance, and a rise in worries around sustainability create a need to move towards remote capabilities and flexible schedules. Ensuring equity in education has always been a challenge, but the pandemic revealed serious gaps in reaching low-income families or students with learning differences. Lessons over video were ineffective for students who didn't have the equipment, the space in their homes, or the bandwidth necessary to stay online. Children with learning differences such as ADHD (attention-deficit/hyperactivity disorder), autism, or dyslexia had a tough time focusing on, understanding, or retaining lessons on video. Before the pandemic, educators were being challenged by progressive citizens. As AI and automation continue to improve at performing human job functions, the types of jobs available will shift rapidly, requiring more students to graduate with better analytical, collaborative, and creative capabilities. As technologies became pivotal for education, ensuring security on digital devices became crucial. The safety of children is always a top concern for all. From sharing personal information (like where they live) to strangers showing up in class on a Zoom call created the need for a closer look at security protocols. Digital technologies, including CX and communications and collaboration solutions, and programmable platforms, must be leveraged as key enablers of accelerated and effective transformation within education organizations. In order to properly apply programmable communications and other digital technologies to address education organizations' particular needs, a clear understanding of the processes and workflows and their chokepoints are required. There is a wealth of data about students that can be used to help students learn better by customizing their lessons and personalizing the support they need with analytics solutions. This study provides a perspective on communications and collaboration and CX technology in the education industry across any country and world region. It identifies how conferencing/meetings and collaboration, UCaaS, CPaaS, CCaaS, and CX solutions deliver value in this vertical and how education providers use these technologies to improve their student and educator experiences. It also includes a customer perspective based on a global survey conducted in January 2022 of 80 IT decision-makers in the education industry. Source: Benzinga Sep 08, 2022: This Company's Presence On Amazon, eBay And Walmart Could Help Get Its Affordable Solar Products To Millions Of Americans Unlike fossil fuels worryingly tipped to run out in about five decades, another vital energy source, perched some 150.76 million km away from the earth, will be available for a very long time to serve the world's energy needs. Experts estimate the sun will be abundant for about five billion years before it runs out of hydrogen - clearly enough time to tap into its rays for clean solar energy. More than ever, many countries are looking up to the sun and other sources to spur humanity's quest to attain a clean energy future. Growth Of The Industry For years now, renewable energy use has been increasing. It increased 3% in 2020 as demand for all other fuels declined. Accordingly, the share of renewables in global electricity generation jumped to 29% in 2020, up from 27% in 2019. Solar is increasingly playing a key role in the renewable power generation mix. The International Energy Agency (IEA) reports that power generation from solar photovoltaic (PV) in 2020 is estimated to have increased by a record 156 Terawatt-hour (TWh), marking a 23% growth from 2019. Solar PV, the agency added, accounted for 3.1% of global electricity generation, and it remains the third-largest renewable electricity technology behind hydropower and onshore wind after overtaking bioenergy in 2019. But the journey to where the world is now with solar energy has been fascinating. While Tesla Inc. TSLA +1.96% + Free Alerts may have become a household name in the renewable energy space, especially with its electric vehicles (EVs) and Powerwall - which stores electricity for solar self-consumption, General Motors Company GM +1.00% + Free Alerts seems to have done something interesting much earlier. In 1987, GM grabbed headlines with its GM Sunraycer, which won the first World Solar Challenge. Since then, solar technology and adoption have ballooned, with Tesla now producing solar products, like the solar roof. Tesla is, however, not the only player in the hardware, software, supply and installation in the solar energy chain. Amazon.com Inc. AMZN +0.26% + Free Alerts, for example, is an important middleman for solar companies to sell their products. Customers troop Amazon in search of solar products day in and day out. Interestingly, even tech giant Apple Inc. AAPL -0.96% + Free Alerts has created software 'connected' to the sun with their Apple Watch Faces (Solar Dial). This, among several others, is going a long way to show that solar energy is not always related to just panels. Disrupting The Solar Industry? Another player that could disrupt the industry is Worksport Ltd. WKSP -1.88% + Free Alerts. The company, through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau covers, solar integrations, and hydrogen-based true green energy solutions for the sustainable, clean energy, and automotive industries. Worksport says it seeks to capitalize on the growing shift of consumer mindsets towards clean energy with its proprietary solar and green hydrogen-based technologies. For some time now, the company reports creating solar covers with battery systems for remote power. The battery systems also help extend the driving range of EV pickup trucks, where before, a benzine motor had to keep running for power. Worksport recently completed a restructuring exercise which resulted in the launch of its eCommerce online platform and storefronts on Amazon, eBay Inc. EBAY -0.92% + Free Alerts, and Walmart Walmart Inc. WMT +0.49% + Free Alerts Marketplace to get its products to more customers. This sales expansion could be pivotal, especially when the U.S. has committed to an ambitious goal to reduce net greenhouse gas emissions by 50-52% below 2005 levels in 2030. The country hopes to achieve this by deploying new technologies like electric vehicles and heat pumps and building the infrastructure for key systems like the national power grid. Worksport could be in a unique position to help achieve this. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Source: Benzinga Sep 08, 2022: Walmart, UnitedHealth Group partner on Medicare Advantage plan Walmart has announced a 10-year collaboration with health insurance provider UnitedHealth Group to provide preventive health care for seniors via a co-branded Medicare Advantage plan as well as virtual care for all of the members of one of UnitedHealth's preferred provider plans. The partnership will start in 2023 at 15 Walmart Health locations in Florida and Georgia and expand over time, Walmart said, with a goal of ultimately serving hundreds of thousands of patients across commercial and Medicaid plans. Walmart (NYSE: WMT) said Minnetonka, Minnesota-based UnitedHealth Group's (NYSE: UNH) Optum subsidiary will provide analytics and decision support tools that help Walmart Health "accelerate the transition to value-based care" by enabling clinicians to focus on patient outcomes. The value-based care model is an emerging reimbursement framework that ties provider payments to patient outcomes and quality of care. Walmart Health competitor CVS Health Corp. (NYSE: CVS), led by CEO Karen Lynch, this week announced an $8 billion deal to acquire Dallas-based Signify Health Inc., a company that Lynch called a leader in value-based care. CVS CFO Shawn Guertin said the Signify purchase "checks off two boxes" for CVS - home health and provider enablement - as it executes its recently announced acquisition strategy. Woonsocket, Rhode Island-based CVS is also aiming for a deal in the primary care space, the company has said. Signify's recent purchase of Caravan Health, which delivers risk assessment tools to provider networks, was also a reason the company was an attractive acquisition target, Lynch said. Walmart's collaboration with UnitedHealth will include a co-branded Medicare Advantage plan in Georgia, UnitedHealthcare Medicare Advantage Walmart Flex (HMO-POS). Walmart Health virtual care also will be established as an in-network provider for commercial members of UnitedHealthcare's Choice Plus PPO plan. "UnitedHealth Group and Walmart share a deep commitment to high-quality and affordable primary care led services that address all of a patient's health needs in ways that are convenient for them and improve health outcomes," said UnitedHealth Group CEO Andrew Witty. Walmart launched its first freestanding health clinic outside Atlanta in 2019 and has continued to expand, adding clinics in Arkansas, Georgia Florida and Illinois. Walmart Health currently offers primary and urgent care and other medical services at 27 locations near Walmart stores. The business is led by cardiologist and women's health advocate Dr. Cheryl Pegus, who joined the company in late 2020. The collaboration expands Walmart's ability to provide value-based care, a an emerging reimbursement model that ties provider payments to patient outcomes and quality of care. Source: The Business Journals Sep 08, 2022: This Company's Presence On Amazon, eBay And Walmart Could Help Get Its Affordable Solar Products To Millions Of Americans Unlike fossil fuels worryingly tipped to run out in about five decades, another vital energy source, perched some 150.76 million km away from the earth, will be available for a very long time to serve the world's energy needs. Experts estimate the sun will be abundant for about five billion years before it runs out of hydrogen - clearly enough time to tap into its rays for clean solar energy. More than ever, many countries are looking up to the sun and other sources to spur humanity's quest to attain a clean energy future. Growth Of The Industry For years now, renewable energy use has been increasing. It increased 3% in 2020 as demand for all other fuels declined. Accordingly, the share of renewables in global electricity generation jumped to 29% in 2020, up from 27% in 2019. Solar is increasingly playing a key role in the renewable power generation mix. The International Energy Agency (IEA) reports that power generation from solar photovoltaic (PV) in 2020 is estimated to have increased by a record 156 Terawatt-hour (TWh), marking a 23% growth from 2019. Solar PV, the agency added, accounted for 3.1% of global electricity generation, and it remains the third-largest renewable electricity technology behind hydropower and onshore wind after overtaking bioenergy in 2019. But the journey to where the world is now with solar energy has been fascinating. While Tesla Inc. (NASDAQ: TSLA) may have become a household name in the renewable energy space, especially with its electric vehicles (EVs) and Powerwall - which stores electricity for solar self-consumption, General Motors Company (NYSE: GM) seems to have done something interesting much earlier. In 1987, GM grabbed headlines with its GM Sunraycer, which won the first World Solar Challenge. Since then, solar technology and adoption have ballooned, with Tesla now producing solar products, like the solar roof. Tesla is, however, not the only player in the hardware, software, supply and installation in the solar energy chain. Amazon.com Inc. (NASDAQ: AMZN), for example, is an important middleman for solar companies to sell their products. Customers troop Amazon in search of solar products day in and day out. Interestingly, even tech giant Apple Inc. (NASDAQ: AAPL) has created software 'connected' to the sun with their Apple Watch Faces (Solar Dial). This, among several others, is going a long way to show that solar energy is not always related to just panels. Disrupting The Solar Industry? Another player that could disrupt the industry is Worksport Ltd. (NASDAQ: WKSP). The company, through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau covers, solar integrations, and hydrogen-based true green energy solutions for the sustainable, clean energy, and automotive industries. Worksport says it seeks to capitalize on the growing shift of consumer mindsets towards clean energy with its proprietary solar and green hydrogen-based technologies. For some time now, the company reports creating solar covers with battery systems for remote power. The battery systems also help extend the driving range of EV pickup trucks, where before, a benzine motor had to keep running for power. Worksport recently completed a restructuring exercise which resulted in the launch of its eCommerce online platform and storefronts on Amazon, eBay Inc. (NASDAQ: EBAY), and Walmart Walmart Inc. (NYSE: WMT) Marketplace to get its products to more customers. This sales expansion could be pivotal, especially when the U.S. has committed to an ambitious goal to reduce net greenhouse gas emissions by 50-52% below 2005 levels in 2030. The country hopes to achieve this by deploying new technologies like electric vehicles and heat pumps and building the infrastructure for key systems like the national power grid. Worksport could be in a unique position to help achieve this. Worksport Ltd. was founded in 2011 with a passion for making products better, simpler, and more beautiful, bringing innovation to an innovation-less market. Starting as a producer of tonneau covers for pickup trucks in the United States and Canada, Worksport has since evolved to position itself as an innovator in its space. Over the past 5 years, Worksport has been working on its hybrid energy system named TerraVis, a portable solar power generation system capable of forming personal microgrids for pickup trucks. Developing the technology that makes up the TerraVis system is the first step in the Company's strategy to increase its market share through innovation in the auto forest and clean tech sectors. This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice. Source: MarketScreener Sep 07, 2022: Walmart Inc. - Consensus Indicates Potential 12.4% Upside September 7, 2022 12:37 pm Walmart Inc. found using ticker (WMT) have now 35 analysts covering the stock. The analyst consensus points to a rating of 'Buy'. The target price ranges between 165 and 78 and has a mean target at 149.45. With the stocks previous close at 133 this would indicate that there is a potential upside of 12.4%. The 50 day MA is 129.87 and the 200 moving average now moves to 137.78. The market cap for the company is $359,203m. Find out more information at: https://www.stock.walmart.com Walmart Inc. engages in the operation of retail, wholesale, and other units worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications. The company offers grocery and consumables, which includes dairy, meat, bakery, deli, produce, dry, chilled or frozen packaged foods, alcoholic and nonalcoholic beverages, floral, snack foods, candy, other grocery items, health and beauty aids, paper goods, laundry and home care, baby care, pet supplies, and other consumable items; and health and wellness products covering pharmacy, over-the-counter drugs and other medical products, and optical and hearing services. It also provides gasoline stations and tobacco; home improvement, outdoor living, gardening, furniture, apparel, jewelry, tools and power equipment, housewares, toys, seasonal items, mattresses, and tire and battery centers; and consumer electronics and accessories, software, video games, office supplies, appliances, and third-party gift cards. In addition, the company offers fuel and financial services and related products, including money orders, prepaid cards, money transfers, and check cashing and bill payment, as well as various types of installment lending. It operates approximately 10,500 stores and various e-commerce websites under 46 banners in 24 countries. The company was formerly known as Wal-Mart Stores, Inc. and changed its name to Walmart Inc. in February 2018. The company was founded in 1945 and is based in Bentonville, Arkansas. Source: DirectorsTalk Interviews Sep 07, 2022: Should You Buy Walmart Inc (WMT) Stock on Wednesday? Walmart Inc (WMT) stock is higher by 2.02% over the past week and gets a Bearish rating from InvestorsObserver Sentiment Indicator. What is Stock Sentiment? Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score. As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend. Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down. InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend. Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price. What's Happening With WMT Stock Today? Walmart Inc (WMT) stock is trading at $135.15 as of 2:24 PM on Wednesday, Sep 7, an increase of $2.73, or 2.06% from the previous closing price of $132.42. The stock has traded between $132.74 and $135.56 so far today. Volume today is below average. So far 3,320,326 shares have traded compared to average volume of 9,081,944 shares. To screen for more stocks like Walmart Inc click here. More About Walmart Inc America's largest retailer by sales, Walmart operated over 10,500 stores under 46 banners at the end of fiscal 2022, selling a variety of general merchandise and grocery items. Its home market accounted for 82% of sales in fiscal 2022, with Mexico and Central America (6%) and Canada (4%) its largest external markets. In the United States at the namesake banner, around 56% of sales come from grocery, 32% from general merchandise, and 11% from health and wellness items. The company operates several e-commerce properties apart from its eponymous site, including Flipkart and shoes.com (it also owns a roughly 10% stake in Chinese online retailer JD.com). Combined, e-commerce accounted for about 13% of fiscal 2022 sales. Click Here to get the full Stock Report for Walmart Inc stock. Source: InvestorsObserver Sep 07, 2022: Paramount+ is Now Available to Walmart+ Members September 07, 2022 06:13 PM BENTONVILLE, Ark.--(BUSINESS WIRE)--Starting today, Walmart+ members can press play on the most anticipated benefit yet - a Paramount+ Essential subscription at no extra cost. With the launch of the Paramount+ offering, Walmart+ members will be able to stream the hottest originals and movies on Paramount+, including "Halo" the series, "Star Trek: Strange New Worlds", the "Yellowstone" prequel "1883", "Sonic The Hedgehog," and "The Good Fight", which returns Sept. 8 for the sixth and final season. "Today's kickoff marks a brand-new chapter for Walmart+ and the possibilities available for our existing and new members," said Chris Cracchiolo, senior vice president and general manager of Walmart+. "It's pretty simple for us - our Walmart+ members asked for a streaming benefit, and we absolutely delivered with Paramount+. This is just one more example of how Walmart+ can add value to our members lives day after day." The addition of a Paramount+ subscription comes at a time when the seasons are changing, and backyard barbeques are giving way to living room tailgates and family movie nights. Walmart+ subscribers will have access to thousands of iconic episodes, popular films and live sporting events, including championship games. From beloved franchises such as "SpongeBob SquarePants" and "Star Trek" to popular movies such as "Secret Headquarters," Paramount+ is a premium streaming destination for the whole family. This fall, members will also be treated to the premiere and return of highly anticipated Paramount+ exclusives such as "Transformers: Earthspark", "Tulsa King," "On the Come Up," and "SEAL Team." Here's how it works. Walmart+ members will simply: Login: New and returning members will create an account or login to their Walmart+ account on Walmart.com or in the Walmart app. Create: Members will create a Paramount+ account. Stream: Discover popular movies and series and start streaming. "We are incredibly excited to officially offer the unrivaled Paramount+ entertainment portfolio to Walmart+ members today," said Jeff Shultz, chief strategy officer and chief business development officer, Paramount Streaming. "By bundling Paramount+ in the Walmart+ membership program we are able to further broaden the reach of Paramount+ to connect fans who have been shopping our brands at Walmart for years with the content they love to stream." Walmart+ will remain $98 a year or $12.95 a month and include the Paramount+ Essential Plan subscription - an added $59 value. Walmart+ is reaching customers in every aspect of their daily lives. From putting dinner on the table, to the songs they listen to, and making sure gas is at a discount so that people can afford to get where they need to go. Source: Business Wire Sep 07, 2022: Walmart reveals major $85million update to stores - and many customers can now take advantage of a whole new service WALMART has revealed more than a dozen of its stores will be updated as part of an $85million project. Bosses at the retailer say more self-checkout lanes will be available and customers will be able to advantage of features such as Walmart Pay, improving their experience. Officials have revealed that 14 stores across Ohio, including in cities such as Cleveland, will be upgraded, WKYC reports. Customers will be able to take advantage of the new self-checkout machines that are being installed, but there will be more manned tills. Shoppers will be able to use Walmart Pickup - a tool that allows customers to order their groceries online before heading to their local store to collect them. Staffers bag the items so patrons do not need to leave their cars. Walmart bosses hope the changes will "create an updated experience for customers", saving them "time and money". New lights and signage will be installed and bathrooms will be modernized, The Repository revealed. Adonis Clark, the Regional General Manager at Walmart, said: "Our local stores have never been more important to the way we serve customers today and, in the future. "These investments will make it easier for our stores and associates to get customers what they want, when they want it." Walmart is also upgrading three of its stores in Puerto Rico with up-to-date technology. Bosses plan to add more self-checkout points, as well as roll out curbside pick-up. Walmart's Public and Government Affairs Director Ivan Baez told News is my Business: "This year, we started revamping the stores in Carolina, Fajardo, and Cayey." He expects the stores to be completely revamped within the next two months. 'COMPLETELY REVAMPED' Baez told the outlet that the same stores will also begin offering curbside pick-up options. The company's goal is to have all 18 locations in Puerto Rico offer curbside pick-up within the next five years. An additional $34million will be invested in other locations next year to continue revamping stores. Walmart is investing in self-checkout technology at a time when lawyers have advised against using the machines. Lawyer Carrie Jernigan has recommended shoppers should only use the self-checkout for smaller purchases. Customers have been encouraged to keep their receipts and take their time while scanning groceries. The lawyer categorized shoppers caught out by self-checkout into three groups. She said: "The first group of people getting charged with shoplifting using the self-checkout are people going into the stores with the intent to steal. "The second group of people catching this charge, I will call the theft-by-mistake. "These are the people that I genuinely think just forgot to scan an item." Jernigan continued: "It is usually something that was on the bottom rack of the cart or say a DVD that has slid under the purse, and when they are walking out, asset protection stops them." She also warned that using the self-checkout machines could cost shoppers thousands of dollars. But, lawyers have offered tips to customers that are wrongly accused of shoplifting. Source: The Sun Sep 07, 2022: 'Baby Days' and deals coming to these Walmart stores (WJW) - An opportunity is coming for parents and caregivers to snag some giveaways and great deals on baby items. In celebration of National Baby Safety Month in September, Walmart is hosting "Baby Days." The events will take place in the parking lots of several Northeast Ohio Walmart stores. "Baby Days" will include giveaways, goodie bags, vendors and appearances from some fan-favorite Cocomelon characters. Walmart says they will also highlight some deals and reduced pricing on more than a thousand baby items online. Local store events include: Medina: 4141 Pearl Road - Friday, Sept. 9, 2:30-5 p.m. Wooster: 3883 Burbank Road - Saturday, Sept. 10, 10 a.m.-12:30 p.m. Ashland: 1996 E. Main St. - Saturday, Sept. 10, 2:30-5 p.m. Akron: 2887 S. Arlington Road - Sunday, Sept. 11, 10 a.m.-12:30 p.m. Canton: 3200 Atlantic Blvd. NE - Sunday, Sept. 11, 2:30-5 p.m. Source: FOX 8 Sep 07, 2022: Walmart latest to tap bond market with $5-B offerings September 07, 2022 Walmart Inc will raise $5 billion in bond offerings, joining a host of big retailers and restaurant chains to tap the debt market ahead of the U.S. Federal Reserve's next potential rate move. A company filing showed on Wednesday that its bonds will be due between 2025 and 2052 and have a coupon rate of between 3.9 percent and 4.5 percent. The Federal Open Market Committee Meeting is scheduled for Sept. 20-21, where the Fed is expected to decide on whether to go for another 75bp rate increase. IFR reported on Tuesday that at least 19 investment-grade bond deals were expected to price, as issuers and investors get ready for what is expected to be a busy post-Labor Day session. Target Corp is offering $1 billion in notes due 2032, while McDonald's Corp is offering about $1.5 billion in two-part bonds due 2052 and 2032, the companies disclosed in separate filings on Tuesday. Separately, Lowe's Cos Inc also announced the pricing of a four-part notes offering at $4.75 billion and Dollar General priced four-part senior notes worth $2.3 billion. Source: Inquirer Business Sep 07, 2022: Following Amazon, Now Walmart Is Expanding Its Healthcare Footprint SEP 7, 2022 05:30PM EDT The next frontier in retail may be healthcare. Just weeks after Amazon (NASDAQ: AMZN) announced its acquisition of 1Life Healthcare, known as One Medical, Walmart (NYSE: WMT) is making a new move to penetrate the $4.1 trillion industry. The retail giant, which has long held ambitions of building a significant healthcare business, is partnering with UnitedHealth (NYSE: UNH) to offer a preventative program for seniors and virtual care for all ages over the next 10 years. The program will start as a pilot at 15 Walmart stores in Georgia and Florida and will focus on patients with Medicare Advantage, a private form of health insurance. AUnitedHealth executive said that the partnership could potentially serve hundreds of thousands of seniors. A win-win Walmart has long been angling for a bigger piece of the massive healthcare market. While the company operates its own pharmacies and has 24 health clinics, its potential in healthcare seems much larger, especially since the company has more than 4,000 stores across the country that Americans visit frequently to do their grocery shopping, pick up a prescription, or buy something else they need. Many of those are located in rural parts of the country that are underserved by traditional healthcare outlets. Additionally, 90% of Americans live within 10 miles of a Walmart. Considering the significant foot traffic those stores get, adding healthcare services is a good way to expand Walmart's business. Preventative care seems like an especially good fit for Walmart as well. A patient is more likely to get a cancer screening, physical exam, or blood test if it's convenient. Making these tests available at Walmart does just that. A showdown with Amazon Walmart isn't the only retail giant making moves in healthcare. Amazon (NASDAQ: AMZN), its chief e-commerce rival, announced in July that it would acquire One Medical, an operator of nearly 200 primary care clinics. Shortly after that news broke, Amazon said that at the end of the year it would pull the plug on its own Amazon Care program, which offers in-person and virtual care, thereby signaling that the company intends to buy, rather than build, its way into healthcare. Ultimately, Amazon decided that Amazon Care wasn't the "right solution for our enterprise-level customers." Other observers said the company struggled to gain clients, and it seems likely the company didn't see a path to profitability with the three-year-old service. Previously, Amazon had partnered with JPMorgan Chase and Berkshire Hathaway on a joint venture known as Haven, which sought to disrupt the health insurance industry. But that project was disbanded in 2021, three years after its launch, without much to show for itself. Amazon also acquired online pharmacy PillPack for $753 million in 2019, and was reportedly one of the bidders interested in home healthcare provider Signify Health, though CVS Health won that deal. Walmart's physical footprint gives it a distinct advantage over Amazon in building out a chain of clinics, but Amazon's reputation for customer service and its Prime membership base could give the e-commerce giant an edge in some ways. Will the UnitedHealth deal move the needle? With a goal of providing care to hundreds of thousands of seniors, it's clear that Walmart and UnitedHealth are thinking big. However, the program is starting with just a handful of locations, meaning it will likely take some time to reach scale. Amazon's own experience with Amazon Care and Haven also offers a cautionary tale for Walmart. Healthcare is a particularly difficult field to disrupt. It's bureaucratic and byzantine. You need to form relationships with multiple stakeholders, including insurance companies, providers, employers, and patients. Walmart is such a big company that it would take a multibillion-dollar business to have an impact on its financials. But healthcare certainly offers that opportunity, especially if Walmart can branch out beyond the UnitedHealth partnership. Keep an eye on the new clinics when they launch next January. If things go smoothly, this could open a huge new market for Walmart. Still, it won't be easy, especially with Amazon hungry for a piece of the same pie. Source: Nasdaq Sep 06, 2022: Best Buy Stock: Why It's Just Like Target and Walmart (That's Good News) Sep 6, 2022 The electronics retailer saw a huge sales drop in its most-recent quarter. That's not the whole story. The covid pandemic caused some very bizarre purchasing patterns that have made it very hard for retailers to forecast upcoming demand. Some items -- like toilet paper, paper towels hand sanitizer, and other items you use up -- saw a spike in sales during the lockdown period with demand being at an elevated level even now because, well, many of us spend more time at home. It's hard for retailers to know exactly how much of those things we need, but being a little wrong doesn't really matter because all of those items have a long shelf life. Target (TGT) - Get Target Corporation Report and Walmart (WMT) - Get Walmart Inc. Report have made it clear that they bought too many large items including television sets because demand had been accelerated during the pandemic. Both retailers misjudged how long that demand would last and have had to sell off excess inventory at lower prices (and depressed margins) to clear out space for holiday merchandise. Those sales will likely push out demand for televisions even further as most people who needed one likely already bought one. People only replace their electronics every so often. They may accelerate that schedule when something new comes out, or when they're stuck at home for months watching cornhole reruns, Korean baseball, and basketball players playing HORSE (yes, ESPN showed all of those things during the darkest days of covid). But, if you just upgraded your TVs, your computer, and maybe even your appliances, you're not likely to do it again for a while. That's short-term bad news for Best Buy (BBY) - Get Best Buy Co. Inc. Report, but it does not change the long-term prospects for the company. Best Buy Remains a Strong Business It wasn't all that long ago when Best Buy looked like it was going to be a casualty of Amazon (AMZN) - Get Amazon.com Inc. Report, Customers would visit the retailer, put their hands on various items it sold, then buy the item for a better price on Amazon. That practice, "showrooming" seemed like it would lead to the end of the brick-and-mortar retailer until Hubert Joly took over as CEO in 2012. Joly came in and made a lot of changes. The most notable one was making his company roughly price competitive with Amazon. Best Buy did not have to be cheaper than its rival, or even the same price, it simply had to be close enough that people would want to make the purchase now. That's oversimplifying Best Buy's turnaround, but it's fair to say that Joly proved that many people want to see big-ticket items before they buy them. The chain recovered and after a rough early start to the pandemic when its stores were closed, it became a real covid winner. But, if Target and Walmart have suffered from demand being pulled ahead for a few items they sell, Best Buy has a whole store full of that problem. Many of us bought new TVs, upgraded our laptops, put in fancy WiFi routers, and bought new appliances. That means we won't need to replace those items for a while which is short-term bad news for Best Buy, but not an actual long-term problem. Best Buy Has Had a Strong Two Years While CEOs always spin their company's negative results in a positive light, Best Buy CEO Corie Barry makes a compelling argument due to the (hopefully) once-in-a-lifetime events of 2021. "Our comparable sales were down 12.1% as we lapped strong Q2 comparable sales last year of almost 20%," Barry said during her chain's second-quarter earnings call."This represents 8.3% sales growth over the second quarter of pre-pandemic fiscal '20." Basically, Best Buy sold an awful lot of stuff last year that pulled ahead demand for this year. That's exactly what happened at Walmart and Target, just on a smaller scale. Barry said that Best Buy expected this to happen. "We assumed the CE [consumer electronics] industry would be lower following two years of elevated growth, driven by unusually strong demand for technology, products, and services; and fueled partly by stimulus dollars. In addition, we expected to see some impact to our business as customers broadly shifted their wallet spend back into experience areas, such as travel and entertainment," she said. That was compounded by problems the CEO did not foresee. "We did not expect and compounding these impacts is a changing macro environment where consumers are dealing with sustained and record-high levels of inflation in some of the most fundamental parts of their daily lives, like food," she added. Yes, Best Buy had a bad quarter and may have a bad year, but the chain's prospects for the future remain strong. That makes its stock, down 36% over the past year, should recover as consumer demand rebuilds. That will take time, but it's what's likely to happen. Source: Clayton News Daily Sep 06, 2022: Fitch Rates Walmart, Inc.'s Proposed Unsecured Notes 'AA' Tue 06 Sep, 2022 - 9:05 AM ET Fitch Ratings - New York - 06 Sep 2022: Fitch Ratings has assigned Walmart, Inc.'s proposed senior unsecured notes issuance of up to $5 billion, 'AA'. Proceeds will be used for general corporate purposes. Walmart's 'AA'/Stable ratings reflect its dominant global retail market share position, with $588 billion of LTM July 2022 revenue, positive comparable store sales (comps), substantial cash flow, and consistent financial strategy, which has resulted in stable adjusted debt/EBITDAR leverage around 2x. Fitch projects organic annual revenue growth in the low-single-digit range with commensurate EBITDA growth over time, although near term results will be volatile due to post-pandemic consumer behavior changes, inventory clearance activity and some macroeconomic uncertainty. FCF (after dividends) is forecast to range between $3 billion and $5 billion annually beginning 2022. Total adjusted debt/EBITDAR is expected to trend at or below the low-2.0x range, including 2022. KEY RATING DRIVERS Potential Volatility Following Operating Strength: Walmart's near-term results will be volatile following two strong years. While Fitch is not currently forecasting a consumer recession, many retailers are facing difficult comparisons and a consumer who is incrementally less interested in purchasing goods versus services like travel and entertainment. Walmart's low price positioning and exposure to lower end consumers could have a mixed impact, as the company could benefit from trade-down activity but also experience headwinds from consumers trading down to even lower priced competitors like hard discounters and dollar stores. Walmart's increased exposure to discretionary categories like apparel and home could also represent headwinds if its customer base reduces overall spending in these categories. Fitch expects revenue to grow 4% in 2022 toward $600 billion largely due to inflation but decline to around $575 billion in 2023, albeit well above the $524 billion recorded in pre-pandemic 2019. Given supply chain challenges and near-term markdown activity to address excess inventory, EBITDA could trend in the low-$30 billion range, similar to 2019, with margins in the 5% to 5.5% range compared with around 6% prior to the pandemic. Longer term, Fitch forecasts Walmart can grow revenue and EBITDA low single digits and expects that any temporary consumer spending dislocation could provide longer term market share opportunities for leaders like Walmart. Massive Scale, FCF Generation, Business Breadth: Walmart is the world's largest retailer, with over $588 billion in LTM July 2022 revenue across over 10,500 stores in 24 countries plus e-commerce websites. Walmart's sales mix is diverse, with just over half of revenue derived from grocery and the remainder generated from numerous general merchandise categories. The company's retail formats include discount centers, supercenters, membership clubs and smaller neighborhood markets in addition to its digital presence. Walmart's sizable internally generated cash flow and close customer connections enable market share expansion over time despite the company's size. Omnichannel Evolution Supports Market Share Defensibility: Walmart's recent sales trajectory has benefited from its omnichannel expansion. The company has redirected its sizable capex, targeted around $14 billion annually, toward technology and supply chain infrastructure to improve customer-facing websites and increase distribution network flexibility. Longer term omnichannel winners are retailers with a good portfolio of physical assets, including store network and distribution facilities, robust customer-facing websites, and good data collection and analytical capabilities around consumer behavior and inventory. These models are expensive to build and maintain, particularly in grocery, where distribution expenses and logistical complexity have kept digital penetration low. Better-positioned incumbents like Walmart with good customer relationships and internally generated cash flow can strengthen their omnichannel models over time. International Portfolio Activity Supports Long Term Sales Growth: Internationally, Walmart has increased focus on China and India, two markets with above-average growth potential. In 2018, the company acquired a 77% stake in leading Indian e-commerce retailer Flipkart for $16 billion and in 2017 formed a strategic alliance with Chinese e-commerce player JD.com, Inc. in which it owns approximately 10%. Walmart's other international markets are being positioned to either provide stable cash flow or disposal opportunities. Over the past three years, the company has sold majority stakes in its businesses in the U.K., Japan, Argentina and Brazil. Stable Longer-Term Operating Results: Walmart's operational initiatives have borne fruit with annual U.S. comps averaging 2.8% during the three years ending 2019, before accelerating to 8.6% in 2020 and 6.4% in 2021. Digital U.S. growth was 37% in pre-pandemic 2019 but was 79% and 11% in 2020 and 2021, respectively, given changes to consumer behavior and good omnichannel execution. EBITDA growth has followed topline growth in recent years, with margins generally trending in the low-6% range (2020 was 5.9%, largely due to heightened coronavirus-related operating expenses); EBITDA was approximately $36 billion in 2021. Walmart's cash flow generation is strong, with FCF after dividends averaging around $10 billion the past four years. FCF could moderate toward the $3 billion to $5 billion range (assuming neutral working capital) beginning 2022 given a step-up in capex to $14 billion from the $10 billion range prior to 2021. Reasonable Leverage Supported by Strong FCF and Liquidity: Walmart's credit profile is supported by reasonable adjusted debt/EBITDAR (capitalizing leases at 8x), which has historically trended around 2.0x. Walmart has maintained its leverage profile through occasional debt reduction, including during 2015-2017 as EBITDA declined, and Fitch would expect the company to maintain this discipline should current challenges persist. Adjusted leverage is expected to trend near 2.0x beginning 2022. Walmart's reasonable leverage profile is accompanied by strong FCF and solid liquidity, including access to a CP program partially backstopped by $15 billion of revolvers. DERIVATION SUMMARY Walmart's 'AA' Long-Term IDR reflects its dominant global retail market share position, with $588 billion of LTM July 2022 revenue, positive comparable store sales (comps), substantial cash flow, and consistent financial strategy, which has resulted in stable adjusted debt/EBITDAR leverage around 2x. Fitch projects organic annual revenue growth in the low-single-digit range with commensurate EBITDA growth over time, although near term results will be volatile due to post-pandemic consumer behavior changes, inventory clearance activity and some macroeconomic uncertainty. FCF (after dividends) is forecast to range between $3 billion and $5 billion annually beginning 2022. Total adjusted debt/EBITDAR is expected to trend at or below the low-2.0x range over time. Leading U.S. physical and digital retailers within Fitch's coverage include Amazon.com (AA-/Stable), The Home Depot, Inc. (A/Stable) and Target Corporation (A/Stable). Amazon's rating is one notch lower than Walmart's despite similar leverage, its leading positions in e-commerce and cloud computing services, higher margins, and strong FCF generation due mainly to Walmart's larger scale and more consistent historical leverage profile. Target's ratings relative to Walmart consider its higher margins, historically similar leverage profile, smaller scale, and recent market share gains following successful implementation of omnichannel initiatives, efficient supply chain operations, and differentiated customer proposition. Home Depot's rating reflects its leading position in the home improvement industry, which benefits from limited online and discount incursion although is highly cyclical alongside housing market activity; Home Depot's adjusted debt/EBITDAR is expected to be approximately 2.0x. KEY ASSUMPTIONS Fitch's Key Assumptions Within Our Rating Case for the Issuer -- Revenue is expected to be up around 4% in 2022, largely due to consumer price inflation, and decline in the 3% range in 2023 against challenging comparisons and some easing of inflation. Longer term, Fitch expects low-single digit growth in revenue, largely due to positive comps, including ecommerce growth. -- EBITDA margins could trend in the low- to mid-5% range beginning 2022, below the recent average in the low-6% range on general cost inflation and ongoing investments in topline initiatives, including omnichannel expenses. EBITDA margins in 2022 are expected to be pressured by excess markdowns as the company addresses an excess inventory position, particularly in categories like apparel and home. EBITDA could therefore trend in the low $30 billion range over the next two to three years, below the $36 billion recorded in 2021 but close to pre-pandemic averages. --FCF, which averaged around $10 billion annually prior to the pandemic, is expected to decline but remain robust in the $3 billion to $5 billion range beginning 2022, assuming neutral working capital. This assumes capex, which was historically around $10 billion, trends in the $14 billion range. --Adjusted debt/EBITDAR (capitalizing leases at 8x) historically trended around 2x but moved up to 2.3x in 2018/2019 following the debt-financed investment in Flipkart, which generates operating losses. Adjusted leverage returned to the 2.0x range in 2020 and Fitch expects leverage to sustain around 2.0x beginning 2022, assuming generally stable debt levels around $38 billion. RATING SENSITIVITIES Factors that could, individually or collectively, lead to positive rating action/upgrade: --An upgrade is unlikely, given the rating is currently at the high end of the rating spectrum and fully captures the company's financial and qualitative strengths. Factors that could, individually or collectively, lead to negative rating action/downgrade: --Weakening sales and EBITDA trajectory due to execution mis-steps or market share challenges from competitors; --Total adjusted debt/EBITDAR (capitalizing leases at 8x) above the low 2.0x range on lower-than-expected operating results or debt-financed shareholder friendly activity. BEST/WORST CASE RATING SCENARIO International scale credit ratings of Non-Financial Corporate issuers have a best-case rating upgrade scenario (defined as the 99th percentile of rating transitions, measured in a positive direction) of three notches over a three-year rating horizon; and a worst-case rating downgrade scenario (defined as the 99th percentile of rating transitions, measured in a negative direction) of four notches over three years. The complete span of best- and worst-case scenario credit ratings for all rating categories ranges from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are based on historical performance. For more information about the methodology used to determine sector-specific best- and worst-case scenario credit ratings, visit https://www.fitchratings.com/site/re/10111579. LIQUIDITY AND DEBT STRUCTURE Significant Liquidity: Walmart's strong liquidity profile is bolstered by its cash balance ($13.9 billion as of July 31, 2022) and by its revolvers totaling $15 billion, which partially backstop Walmart's commercial paper program. Walmart's liquidity is further supported by meaningful FCF generation, expected to average in the $3 billion to $5 billion range annually (assuming neutral working capital) beginning 2022. At the end of 2021, total debt outstanding was approximately $38.3 billion. Approximately $1.6 billion of unsecured notes have matured thus far in 2022 with another $1.25 billion notes maturity in December 2022; approximately $4.2 billion of debt matures in 2023. ISSUER PROFILE Walmart is a global leader in retail and e-commerce, with $588 billion in TTM July 2022 revenue across over 10,500 stores and e-commerce websites. SUMMARY OF FINANCIAL ADJUSTMENTS Fitch treats interest on lease liabilities and amortization of lease assets as operating costs in accordance with its lease criteria and capitalizes operating lease expense at a multiple of 8.0x. DATE OF RELEVANT COMMITTEE 29 July 2022 REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING The principal sources of information used in the analysis are described in the Applicable Criteria. ESG CONSIDERATIONS Unless otherwise disclosed in this section, the highest level of ESG credit relevance is a score of '3'. This means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. For more information on Fitch's ESG Relevance Scores, visit www.fitchratings.com/esg Source: Fitch Ratings Sep 06, 2022: Which Stores Are Open and What's Closed for Labor Day 2022 September 5, 2022 at 11:34 am Labor Day, a day to honor American workers while simultaneously marking the unofficial end of summer, has many celebrating a long three-day weekend, but where can you go and what can you do? Many businesses will remain open for the holiday, but some places will be closed. Here's a roundup of what to expect: Retailers Most retailers, including big chains like Target, Walmart, CVS and more, will remain open for the holiday. "Target stores will be operating Labor Day weekend with our normal store business hours, which vary by location," a company representative told TODAY. Other chains like Home Depot, Walgreens, and more have said they will also be open. One major retailer, however, will not be open for the holiday. Costco has said that all of its U.S. warehouses will be closed for Labor Day. Grocery Stores Grocery stores will likely be open for the holiday, though some locations may have limited hours. Chains like Trader Joe's, Whole Foods, Mariano's, Sam's Club, Aldi and more have all said they will remain open for the holiday. Banks Banks and many other financial institutions will not be open for Labor Day. Online banking and ATMs should remain available for those who need them, however. Post Office U.S. postal service locations will be closed for the holiday. DMVs Illinois Secretary of State Jesse White announced that all offices and facilities will be closed for Labor Day. Public Libraries Public libraries will not be open for the holiday. Source: NBC Chicago Sep 06, 2022: Walmart withdraws lawsuit over Texas liquor laws The Texas Alcoholic Beverage Code prohibits public retailers from owning liquor stores. Companies like Walmart are allowed to sell beer & wine in Texas stores. Source: WFAA Sep 06, 2022: Walmart remodeling 14 stores in Northeast Ohio Walmart is remodeling 14 Northeast Ohio stores this year, including locations in Canton and Alliance. The retailer said Tuesday that it is investing more than $85 million in the project. Walmart said the changes are expected to "create an updated experience for customers, including expanding shopping options," to save time and money. "Our local stores have never been more important to the way we serve customers today, and in the future," regional general manager Adonis Clark said in a prepared statement. ". These investments will make it easier for our stores and associates to get customers what they want, when they want it." More Stark business news:First Stark County Batteries Plus location opens in the Belden Village area More Stark business news:Belden Village will be home to nation's largest inde toy store as Sir Troy's plans move Many remodeled stores will offer pickup, delivery and Express delivery, which involves delivery in under two hours. In addition, more customers will be able to join Walmart Plus. The other changes include: New fixtures, lighting and flooring New paint and signage Modern bathrooms Added or remodeled mother's room for nursing mothers More self-checkout lanes and manned registers Expanded seasonal departments Walmart Pay, a touch-free option, also will be available at the 14 stores. Source: Canton Repository Sep 06, 2022: Exclusive: Walmart-Backed Ninjacart Doubles ESOP Pool Size To INR 345 Cr Walmart-backed agritech startup Ninjacart has expanded its ESOP pool by over 100%. In an extraordinary general meeting on August 18, 2022, the Bengaluru-based startup passed a resolution to increase its ESOP pool size to 6,522 shares from the existing 3,156 shares. Considering Ninjacart's share price of INR 52,8892 (including premium) based on its Series D round of funding last year, the ESOP pool size has been increased by INR 178 Cr ($22.3 Mn), taking the ESOP pool of '63Ideas Infolabs Private Limited Amended Employees Stock Option Plan 2022' to INR 345 Cr ($43.2 Mn). 63Ideas Infolabs Private Limited is the parent company of Ninjacart. This is the second time within a year that Ninjacart has expanded its ESOP pool size. In April, the startup expanded its ESOP pool size to INR 170 Cr ($21.3 Mn). The latest development comes almost nine months after Ninjacart launched an ESOP buyback program worth INR 100 Cr. Both current and former employees of the startup with vested ESOPs as of December last year were eligible to participate in the buyback program. Source: Inc42 Sep 06, 2022: Ocean Shipping Rates Have Plunged 60% This Year 06/09/2022 Freight rates on the main ocean trade routes are sinking during what is typically the industry's peak season after cargo owners shipped holiday goods early and inflation dented consumer demand. The cost to ship a 40-foot container from China to the U.S. West Coast now stands around $5,400 a box, down 60% from January, according to the Freightos Baltic Index. A container shipped from Asia to Europe costs $9,000, 42% less than at the start of the year. The rate for both routes, while still above prepandemic levels, peaked at more than $20,000 last September. Market conditions have made a sharp reversal from earlier in the pandemic. Freight rates jumped roughly 10-fold in 2021 because supply-chain disruptions, port backlogs and a surge of cargo left importers scrambling for space on box ships. Some big retailers such as Walmart Inc. even chartered their own vessels to get around bottlenecks last year. This year, Walmart and other retailers ended up with too much inventory after they raced to import goods earlier than usual, anticipating shipping delays and demand that didn't materialize. Manufacturers, too, moved goods earlier than usual. Apparel sellers such as Gap Inc. and toy makers including Hasbro Inc. reported spring surges in inventory levels that normally occur closer to the holidays. "For spot rates, the party is over," said Jonathan Roach, a container shipping analyst at London-based Braemar. "The backdrop of a potential global recession, driven by surging energy prices and rapid inflation, is driving down the market. The pandemic boom in demand for consumer products has calmed and spending on travel, leisure, and services made a revival in 2021." Shipping rates are set to further ease for the remainder of the year and in 2023, according to shipowners and analysts. A series of new ships will hit the water over the next two years with net fleet growth expected to exceed 9% next year and in 2024. By comparison, container volume growth will be marginally negative next year and rise around 2% in 2024, according to Braemar. Best Buy Co. Chief Executive Corie Barry said in an earnings call last Tuesday that freight-transportation cost pressures are easing. She said the electronics retailer, whose sales are shrinking, is finding it easier to get freight space on ships and trucks. "This is really a nonpeak season because for the first time ever, volumes moved in the second half are lower than those moved in the first half," said Peter Sand, chief analyst at maritime-data provider Xeneta. "There is a lot of uncertainty given the continued war in Ukraine and the global economic downturn." Spot-market container shipping rates have declined so rapidly, Xeneta said in a report in August, that the prices have come closer to long-term contract prices, which traditionally come at a discount, and were even below contract rates in some markets. Most major importers such as Walmart move their cargo through long-term contracts rather than paying spot prices. The 10 largest liners have been enjoying bumper profits over the past two years. Recent quarterly earnings at industry bellwether A.P. Moeller-Maersk A/S were $8.59 billion, surpassing what it normally makes in an entire year. But many companies have warned of weakening market conditions in the second half of 2022. "We need to pay close attention to the impact of inflation on consumer demand and behavior," said China Cosco Shipping Corp., which runs the world's fourth-largest box ship fleet, in its first-half report last Wednesday. "Combined with the changes in the delivery of new vessels, the supply side of the industry will face a new situation." Shipping executives and analysts said they don't expect freight rates to return to prepandemic levels, in part because of higher fuel costs. In 2019, the average cost to send a container across the Pacific to the U.S. West Coast was $1,500. The ocean carriers are investing billions in new technologies and fuels that will substantially cut carbon emissions from their vessels. "The additional cost of cleaner shipping will not go away and will be a factor in elevating rates in the longer term," Braemar's Mr. Roach said. Source: Wall Street Journal Source: Hellenic Shipping News Worldwide Sep 06, 2022: CCI nod to PayU's $4.7 billion acquisition of BillDesk Sep 6, 2022 After about a year of delay, the Competition Commission of India (CCI) has finally approved the acquisition of payment gateway BillDesk by Naspers' PayU for $4.7 billion. The deal is touted to be the second largest internet deal after the acquisition of Flipkart by the U.S. retail behemoth Walmart Inc. The CCI has approved the acquisition of 100% of the equity share capital of IndiaIdeas.com Limited (IIL), known as BillDesk, by PayU Payments Private Limited, the CCI says in a tweet. The acquisition, approved under Section 31(1) of the Competition Act, 2002, reportedly came after the competition watchdog approached the competitors of PayU and BillDesk to seek their views on the acquisition deal. The deal is yet to be approved by the Reserve Bank of India (RBI). BillDesk and PayU compete with other fintech players like Paytm, Pine Labs, Razorpay, Infibeam Avenues and MSwipe in the country. PayU India and BillDesk run complementary businesses within India's digital payment industry. Together, the two expect to create a financial ecosystem handling 4 billion transactions annually, which is about four times PayU's current level in India. Founded in 2014, PayU India provides payment aggregation services that enable merchants (and other entities) to receive payments from their customers across various digital payment methods. Shares of PayU India are indirectly held by Prosus N.V. ("Prosus"), a global consumer internet group and one of the leading technology investors in the world. Prosus has a primary listing on Euronext Amsterdam. Naspers Limited, listed on the Johannesburg Stock Exchange, holds 73.6% voting rights in Prosus. The proposed acquisition will see PayU become one of the leading online payment providers globally by total payment volume (TPV). IIL, which is an unlisted public limited company, uses the name "BillDesk" as its brand name in India. IIL also provides payment aggregation services that enable merchants (and other entities) to receive payments from customers across various digital payment methods. Founded in 2000 by MN Srinivasu, Ajay Kaushal and Karthik Ganapathy, BillDesk has now emerged as one of the largest bill payment ecosystems in the country. BillDesk's net profit for 2020-21 stood at ₹270 crore, up from ₹231 crore reported a year before. The company's total assets stand at ₹932 crore as of March 31, 2021. The existing shareholders of the company had entered into a share purchase agreement with PayU Payments for the proposed sale of 100% of the issued and paid-up share capital, on August 31, 2021. The digital payments industry is thriving in India. According to the RBI, payment systems recorded a robust growth of 63.6% in terms of volume during 2021-22, on top of the expansion of 26.7% in the previous year. In value terms, the growth was 23.1% against a decline of 13.4% in the previous year, mainly due to robust growth observed in the large value payment system -- RTGS. The share of digital transactions in the total volume of non-cash retail payments increased to 99.3% during 2021-22, up from 98.8% in the previous year. Source: Fortune India: Business News, Strategy, Finance and. Sep 06, 2022: Walmart offers $377.6M to buy out South African Massmart - report September 06, 2022 Walmart Inc., who already owns a large part of South African retailer Massmart, has made an offer to buy the remaining 47 percent. The offer to buy out the rest of the retailer is worth 6.4 billion rand ($377.6 million), valuing it at a premium of over 50 percent, according to a report by Reuters. Shares in Massmart surged 46 percent after the company announced the news on Monday, as its Chairman Kuseni Dlamini said the offer seems "fair and reasonable." The world's biggest retailer had acquired a 51 percent stake in Massmart in 2010 for $2.3 billion, an investment that was seen as an outlay to use South Africa as a base to grab a share of the so-called 'Africa growth story.' Since then, however, it has struggled in the face of very competitive and highly profitable local retailers such as Shoprite (SHPJ.J) and Woolworths (WHLJ.J), curtailing the company's aims to expand further into Africa and shaving off almost three quarters of its market value in the last decade. Walmart has offered 62 rand for each outstanding Massmart share, a premium of 53% to Friday's closing share price, Massmart said, adding if approved, it would delist the company. The deal would help Walmart put "further intervention operationally and significant additional financial investment," Massmart's Chairman Dlamini told reporters. Massmart, which sells a lot of discretionary items such as apparel, home supplies and seasonal goods, has faced a number of challenges over recent years, such as the COVID-19 crisis, civil unrest and most recently, inflation, forcing Walmart to dole out financial relief and convert loans into equity. Massmart's management launched a turnaround plan in 2019 involving selling off non-core assets, but it was not enough and financial support by Walmart deepened during the pandemic when it injected 4 billion rand into the company. "The potential offer, if finalised, will provide Massmart with needed access to ongoing financial and operational support," Massmart said in a statement. Analysts and bankers said having invested billions into the company, it is tricky for Walmart to back out now, especially as rivals have shown the South African retail market is highly rewarding. "Considering the support that they (Walmart) have to give Massmart in this process, they probably thought well. why shouldn't we get the benefit of it and let's just go the whole hog and take the rest of the shares out," Sasfin Wealth senior equity analyst Alec Abraham said. Massmart's losses widened in the 26 weeks ended June 26 to 903.5 million rand, from a loss of 358.5 million rand a year earlier. Source: Fresh Fruit Portal Sep 06, 2022: Take the Zacks Approach to Beat the Market: Walmart (WMT), Ulta Beauty (ULTA), UniCredit (UNCFF) in Focus SEP 6, 2022 06:52AM EDT The three most widely followed indexes closed the last week in the red. The tech-heavy Nasdaq, the S&P 500 and the Dow Jones Industrial Average fell 4.2%, 3.3% and 3%, respectively, logging their third straight weekly declines. Investors remained apprehensive as hawkish comments continued pouring in from Fed officials. There is an overarching feeling that interest rates will continue to rise as the Fed stays steadfast in bringing inflation down to its target rate of 2%. Additionally, September is historically considered one of the worst months in trading and has usually weighed down on markets. Incoming positive economic data, especially from the job market, did almost nothing to improve investor sentiment. Fear is rife that interest rates will continue to creep up and slow the economy down to enter a recession. Regardless of market conditions, we, here at Zacks, provide investors with unbiased guidance on how to beat the market. Zacks Research guided investors last week with its time-tested methodologies as usual. Given the prevailing market uncertainty, you may want to look at our feats to prepare better for your next action. Here are some of our key achievements from last week: Citizens Financial, Ulta Beauty Rise Following Zacks Rank Upgrade Shares of Citizens Financial Services, Inc. CZFS have gained 4.9% since it was upgraded to a Zacks Rank #1 (Strong Buy) on September 1. The rating upgrade was primarily driven by an upward trend in earnings estimates, one of the most powerful forces impacting stock prices. A company's changing earnings picture is at the core of the Zacks rating. For CZFS, the consensus EPS estimate of $7.28 for the current year has increased 2.5% over the past two months. Rising earnings estimates and the consequent Zacks Rank upgrade for CZFS imply an improvement in the company's underlying business. Investors have started showing their appreciation for this improving business trend by pushing the stock higher. Ulta Beauty, Inc. ULTA, another stock upgraded to a Zacks Rank #1 on August 30, has returned 1.3% over the past week. A 6.4% increase in the current-year consensus EPS estimate over the past month triggered the rating upgrade. The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +24.8% since 1988. Zacks Recommendation Upgrade Pushes UniCredit, Euroseas Higher Shares of UniCredit S.p.A. UNCFF and Euroseas Ltd. ESEA have gained 10.4% and 1.3% since their Zacks Recommendation was upgraded to Outperform on August 31 and August 30, respectively. While the Zacks Rank is our short-term rating system that is most effective over the one- to three-month holding horizon, the Zacks Recommendation aims to predict performance over the next 6 to 12 months. However, just like the Zacks Rank, the foundation for the Zacks Recommendation is trends in earnings estimate revisions. The Zacks Recommendation classifies stocks into three groups - Outperform, Neutral and Underperform. While these recommendations are determined quantitatively, our analysts have the flexibility to override them for the 1100+ stocks they closely follow based on their better judgment of factors such as valuation, industry conditions and management effectiveness than the quantitative model. Zacks Focus List Model Portfolio Stock Dollar General Gains Shares of Dollar General Corporation DG, which belongs to the Zacks Focus List, have shot up 2.7% over the past week. The Zacks Focus List is a model portfolio of 50 hand-picked stocks that possess the right fundamental ingredients to outperform the market over the next 12 months. These 50 stocks are picked from a long list of stocks with the highest Zacks Rank. Dollar General was added to the Focus List on February 6, 2018, at $95.80 per share. The stock has gained 153.2% since then to close the last trading session at $242.60. Since its inception on February 1, 1996, the Focus List portfolio has delivered an annualized return of +12.9%. Unlock all of our powerful research, tools and analysis, including the Focus List, Zacks #1 Rank List, Equity Research Reports, Zacks Earnings ESP Filter, Premium Screener and more, as part of Zacks Premium. Zacks ECAP Stock Walmart Outperforms Market Walmart Inc. WMT, a component of our Earnings Certain Admiral Portfolio (ECAP), rose 1.1% last week. ECAP is a model portfolio of 30 concentrated, ultra-defensive, long-term Buy and Hold stocks. With little to no turnover and annual rebalance periodicity, the ECAP seeks to minimize capital loss by holding shares of companies whose earnings streams exhibit a proven 20+ year track record of surviving recessionary periods with minimal impact on aggregate earnings growth relative to the overall S&P 500. In terms of last week's returns, AmerisourceBergen Corporation ABC and Amgen Inc. AMGN followed Walmart with 1% and 0.7% gains, respectively. The ECAP and many other model portfolios are available as part of Zacks Advisor Tools, a cloud-based solution to access Zacks award-winning stock, mutual fund and ETF research. Click here to schedule a demo. Zacks ECDP Stock General Mills Crawls Up General Mills, Inc. GIS, which is part of our Earnings Certain Dividend Portfolio (ECDP), advanced 0.5% last week. The inclination of investors toward quality dividend stocks to secure an income stream amid heightened market volatility contributed to the stock's stability. Check General Mills' dividend history here>>> With an extremely low Beta and a history of minimum earnings variability over the last 20+ years, this 25-stock portfolio helps significantly mitigate risk. The ECDP has consistently outperformed the S&P 500 Dividend Aristocrats ETF NOBL. Click here to access this portfolio on Zacks Advisor Tools. 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.8% per year. So be sure to give these hand-picked 7 your immediate attention. Source: Nasdaq Sep 06, 2022: Walmart tries again to improve beef offering in stores Walmart has over the years made several attempts to improve the beef quality it sells. Last week the retail giant invested a minority stake in Sustainable Beef, a rancher and beef producer-owned company that sells Angus beef into retail. Walmart did not disclose the amount of the investment but said the deal will increase the amount of quality Angus beef it sells. "Fresh groceries are a growth driver for the retailer," said Tyler Lehr, senior vice president of merchandising for deli services, meat and seafood for Walmart U.S.The deal calls for Sustainable Beef to open a processing center in North Platte, Neb. They will break ground next month and create about 800 jobs in that community. Lehr said Walmart will get a majority of the beef produced at the new facility which is expected to open in late 2024. With the investment, Walmart also gets a board seat at Sustainable Beef. Walmart said the deal will allow for a more consistent supply of beef, including better cuts such as rib-eye and New York Strip. The beef sourced from Sustainable is expected to make its way into stores in the central U.S. by late next year. This venture follows another beef investment Walmart made in 2020 as it opened a beef processing facility for Angus beef in Thomasville, Ga. That facility is operated by FPL Foods and employs about 200. Walmart has not said how much beef it sells to the public, but with 4,700 stores, the retail giant is the largest grocery chain in the U.S. by overall sales. Grocery also accounts for almost 60% of the retailer's U.S. revenue, or roughly $235 billion last year on food and consumable groceries. Analysts also said the Sustainable Beef deal also plays well with Walmart's environmental and social commitments. By 2030, Walmart and its foundation have pledged to protect, restore or more sustainably manage at least 50 million acres of land and 1 million square miles of ocean by 2030. In 2020, Walmart said it would also work toward sourcing more sustainable fresh beef by working with ranchers on grazing management, grain sourcing and more. "Customers continue to tell us one of the biggest points of differentiation is they want to know where their food comes from," Lehr said. "They like to know and learn a little bit more about it rather than just seeing it on the meat counter. There's a greater drive and desire for them to know what the backstory is on the products that they're purchasing in store." With food inflation topping nearly 13% this summer, Walmart said its biggest market share gains have been in grocery and essentials as the retailer tried to avoid price increases. In the recent quarterly results, Walmart said roughly 75% of the market share gains in foods have come from households with incomes above $100,000. While chicken prices are up almost 30% from a year ago, beef prices have risen an average of 6.9% year over year. Retail boneless breast prices this week average $3.67 per pound, up 28.9% from the same week a year ago, according to the U.S. Department of Agriculture National Retail Report for the period ending Aug. 8. USDA reported average advertised retail prices for bone-in ribeye steak was $8.23 per pound this week, compared to $8.42 a year ago. T-bone cuts averaged $7.30 per pound this week at retail, up from $6.66 a year ago. New York strip cuts are selling for an average retail price of $10.63 per pound this week, up from $9.39 a year ago. Source: Talk Business & Politics Sep 05, 2022: Labor Day 2022: What stores are open today? Hours for Walmart, Target, The Home Depot It's Labor Day, and that means the sales are on. There are deals aplenty online on mattresses, home goods and even one of our very favorite smokeless fire pits, but if you're planning to run out to the store, you're in luck, too. Most stores and major retailers are open during Labor Day-although some will open late or close early. The only ones you'll have to remember are Costco, USPS, FedEx and UPS, which are all closed Monday, September 5 for Labor Day. Get deals and shopping advice delivered straight to your phone. Sign up for text message alerts from the experts at Reviewed. If in-store shopping is on your agenda this Labor Day weekend, check out our updated list of open retailers below, which includes major chains like Home Depot, Nordstrom and Macy's. ►Labor Day 2022 sales: Shop today's 80 best Labor Day 2022 sales at Lowe's, Best Buy, Amazon and more ►Lowe's Labor Day 2022 sale: Shop today's best deals on appliances, furniture and tools ►Labor Day 2022 mattress sales: Score the best deals at Mattress Firm, Nectar and Serta Labor Day 2022: Shopping guide Labor Day 2022 sales and deals: Shop the 70 best sales at Lowe's, Best Buy and Amazon Walmart Labor Day sale: 50+ best sales on Dyson, Samsung, Ninja and more Best Buy Labor Day sale: Save on Samsung, Apple and HP Lowe's Labor Day sale: The best deals on appliances, furniture and more Samsung Labor Day sale: Shop deals on smartphones, headphones and TVs Wayfair Labor Day sale: Shop savings on KitchenAid, Nautica and more Labor Day mattress sales: Save big at Mattress Firm, Nectar and Serta Labor Day furniture sales: Shop deals at Wayfair, Amazon, Target and Ashley Furniture Labor Day appliance sales: Shop deals at Lowe's, Walmart and Best Buy Labor Day TV sales: Shop the best TV deals on Samsung, TCL and LG Labor Day fashion sales: 37 best sales at Michael Kors, Nordstrom and lululemon Source: USA Today Sep 05, 2022: Walmart making major change to stores in $57million update - but it's bad news if you hate self-checkout 17:53 ET, Sep 5 2022 WALMART is investing $57million in three of its locations in an effort to revamp its stores to include more self-checkout options. The multi-million dollar investment will go towards a trio of locations in Puerto Rico to modernize them with up-to-date service and technology. According to Walmart's Public and Government Affairs Director Ivan Baez, the investment will include adding more items and self-checkout points and rolling out curbside pick-up at more stores. "Store shelves will have more items in exhibit, the optical and pharmacy areas are also being remodeled, and the stores will be selling more high-end brands," Baez told News is my Business. "You can already find these brands in the three stores that have been remodeled. "This year, we started revamping the stores in Carolina, Fajardo, and Cayey," he said, adding that within the next two months, all three stores should be completely revamped. Baez told the outlet that the same stores will also begin offering curbside pick-up options. The company's goal is to have all 18 locations in Puerto Rico offer curbside pick-up within the next five years. An additional $34million will be invested in other locations next year to continue revamping stores. Walmart's latest attempt to install more self-checkout scanners into its stores comes as lawyers have advised against using the alternative payment option, claiming it can put ordinary customers at risk. Shoppers at large retail stores are allegedly being charged with larceny, even when they don't mean to steal anything. Sometimes it's not a mistake from the shopper, but an error with the self-checkout machine itself that can cause a customer to get charged, criminal defense attorney Lindsey Granados said in a TikTok video. "If you somehow didn't scan something appropriately or the machine didn't pick it up accidentally when you scanned it, you could potentially be charged with misdemeanor larceny or felony larceny, depending on how big the item was," Granados warned. She said: "Those machines are faulty in a lot of ways, and they are not particularity sensitive, and they will unfortunately not scan items from time to time." The defense attorney said she has seen this happen first-hand, at the expense of her clients. "I can't tell you how many clients I've talked with that have been charged with larceny because one of those machines didn't scan appropriately," she said. Source: The Sun Sep 05, 2022: Holiday 2022: Check out these 10 picks from Walmart's recently released top toy list Sep. 05, 2022, 10:00 a.m. STATEN ISLAND, N.Y. - Walmart has unveiled its highly anticipated 2022 Top Toy List to help families plan ahead and save on their children's wish lists this holiday season. Walmart's 2022 Top Toy List highlights 55 of this holiday season's hottest toys, with more than half the toys on the list under $50 and many under $25, the company's announcement said. This year's list includes top brands and franchisees like LEGO, CoComelon, Jurassic World, Hot Wheels, L.O.L. Surprise, Paw Patrol, Barbie, Magic Mixies and more. The retailer announced that it is also offering more Rollbacks on toys this year to give customers even deeper savings. At Walmart.com, Walmart's Toy List can be searched on line by age, materials, lifestyle, brand, rating, category or price. They can be delivered to your door, or shipped to your local Walmart store. "We know our customers are shopping early, and finding the lowest prices on toy gifts is a priority for many families this year," said Laura Rush, senior vice president of electronics, toys and seasonal for Walmart U.S. "We're excited to help our customers as they start their holiday shopping by announcing our Top Toy List today and providing them with a fantastic selection of toys in stores and on Walmart.com at low prices only Walmart can deliver." Nearly all of the toys from Walmart's Top Toy List are available to purchase today or can be pre-ordered on Walmart.com. The website even tells you what aisle to go to in your local Walmart to find the Top Toys. Walmart-exclusive toys make up over half of this year's list, more than any year before. From outdoor toys that keep kids on the go to fan-favorite toys from this year's most popular releases, Walmart's 2022 Top Toy List has all the on-trend toys kids want at prices families can afford, the company's announcement said. The Disney Frozen bike by Huffy is available now on Walmart.com or in stores. It's one of Walmart's Top Toys of 2022. (Courtesy of Huffy) Source: Staten Island Advance Sep 01, 2022: Zacks Earnings Trends Highlights: Walmart, Target, AT&T and Microsoft SEP 1, 2022 07:58AM EDT Chicago, IL - September 1, 2022 - Zacks Director of Research Sheraz Mian says, "Excluding the Energy sector, Q3 earnings are expected to be down -5.0% at present, a significant decline from +2.1% at the beginning of July." Looking Ahead to Q3 Earnings Amid Persistent Inflation, Rising Rates Note: The following is an excerpt from this week's Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>> Here are the key points: Estimates for the last two quarters of this year and full-year 2023 are coming down, even though positive revisions to the Energy sector continue to partly offset estimate cuts elsewhere. The +1.5% earnings growth expected for the S&P 500 index in 2022 Q3 is down from +7.2% at the start of the period. Excluding the Energy sector, Q3 earnings are expected to be down -5.0% at present, a significant decline from +2.1% at the beginning of July. Q3 estimates have been cut for 13 of the 16 Zacks sectors since the quarter got underway, with the biggest declines at the Consumer Discretionary, Consumer Staples, Technology, Retail and Conglomerates sectors. On the positive side, Q3 estimates have gone up the most for the Energy sector, but the revisions trend has been positive for the Auto and Utilities sectors as well. The overall corporate profitability picture emerging from the Q2 earnings season, with nearly all the results in, showed stability and resilience in key earnings drivers like consumer and business spending. While this stability and resilience run contrary to worries of an imminent economic slowdown or even a recession, there are nevertheless early signs of weakness in both consumer and business spending. The market appreciated Walmart's WMT results, but the favorable market reaction likely had more to do with fears created by its earlier pre-announcement. The inventory overhang at Walmart, Target TGT and other retailers was mostly due to shifting consumer preferences. But part of the problem could be attributed to weakness in lower-income households as a result of inflationary pressures. It makes intuitive sense for this consumer segment to be feeling some squeeze, as we heard from companies in a variety of industries, including AT&T T. Other households seem to be doing just fine, as we heard from banks, credit card operators and beyond. With respect to business spending, we have started seeing a squeeze on advertising budgets and hiring plans, but Microsoft MSFT and others didn't see anything disconcerting with respect to spending on software and other services. That said, it is reasonable to expect some moderation in demand trends going forward as the full extent of the Fed's tightening cycle permeates through the broader economy. A slowdown has gotten underway, but there is nothing in the earnings data, management commentary or guidance that would suggest the U.S. economy heading into a major economic downturn. That said, estimates have started coming down, with the overall revisions trend turning negative even after accounting for the persistent favorable revisions trend enjoyed by the Energy sector. If we look at the evolution of Q3 earnings growth expectations on an ex-Energy basis, the expected growth rate has dropped from +2.1% on July 6th to -5% today. Aggregate S&P 500 earnings outside of the Energy sector have declined -5.9% since mid-April, with double-digit percentage declines in Retail (down -14.5%), Construction (-10.7%), and Tech (-10.6%). Estimates have also been coming down in the Consumer Discretionary, Industrial Products, Medical and Finance sectors. The Overall Earnings Picture Beyond Q2, the growth picture is expected to modestly improve. Please note that a big part of this year's growth is thanks to the strong momentum in the Energy sector whose earnings are on track to grow +137.6% this year. Excluding this extraordinary Energy sector contribution, earnings growth for the rest of the index would be up only +0.3%. There is a rising degree of uncertainty about the outlook, reflecting a lack of macroeconomic visibility in a backdrop of Fed monetary policy tightening. The evolving earnings revisions trend will reflect this macro backdrop. Source: Nasdaq Sep 01, 2022: Walmart enters deal to buy remaining stake in S.Africa's Massmart September 1, 2022 8:55 PM GMT+5:30 JOHANNESBURG, Sept 1 (Reuters) - U.S. retail giant Walmart Inc. (WMT.N) has signed an agreement to begin buying the 47% stake in South African retailer Massmart it does not own, the companies said in a joint statement on Thursday. Massmart had said on Monday that its majority owner Walmart had offered it 6.4 billion rand ($373 million) to purchase the remaining shares and to delist the company from the Johannesburg Stock Exchange. Source: Reuters Sep 01, 2022: Walmart: Consumers want liquor in stores September 1, 2022 Growing customer demand is fueling a push to allow the sale of spirits in grocery stores across Oklahoma, according to an Oklahoma City political consultant working for Walmart. "Our customers have told us they want more choice and convenience when shopping for spirits in Oklahoma, and we're interested in seeing what role we might be able to play in advocating for them on this issue," CMA Strategies Partner Pat McFerron said. Working on Walmart's behalf, McFerron is organizing a meeting this month with alcohol wholesalers, distributors, industry lobbyists and associated services. He said they will discuss a potential legislative effort to change the Oklahoma liquor law that prohibits sale of whiskey, gin, vodka, tequila and other spirits in grocery markets and convenience stores. "Is it time to look at a liquor rewrite?" That's the question McFerron plans to ask liquor lobbyists in a week or two. McFerron declined to disclose exactly when or where his meeting will be, hoping to avoid confrontation with Oklahoma liquor store owners. McFerron was behind a successful campaign in 2016 to pass State Question 792, which changed state law to allow wine and full-strength beer to be sold in grocery stores and other retail outlets. The measure faced strong opposition from the state's liquor store owners, who say the new law devastated their sector, cutting profits and forcing dozens of businesses to shut down. There is no timetable on the current initiative, but McFerron said Oklahomans may be ready for it. Much has changed over the past six years, McFerron said. Consumer sentiments are different. Medical marijuana is now legal, and voters will soon decide on recreational marijuana. Perhaps the public is also interested in further changes to state liquor laws. "Products that customers desire are changing, and Oklahoma laws aren't up to date with that," he said. For example, ready-to-drink beverages are gaining popularity. Many of those products contain alcohol and are sold in cans as mixed drinks. Popular brands include Smirnoff Ice, Mike's Hard Lemonade, Jack Daniel's Hard Cola, and Vodka Cruiser. Robert Jernigan, owner of Bacchus Wine & Spirits and president of the Retail Liquor Association of Oklahoma, said SQ 792 had a devastating effect on many small liquor stores in Oklahoma. Allowing grocery stores to sell spirits would further dwindle what's left of their customer base, forcing scores more liquor stores to close. McFerron questions the effect SQ 792 has had on state liquor stores, saying be does not believe the measure forced liquor stores in Oklahoma to close. Over the past decade, published reports have indicated the number of Oklahoma liquor stores has hovered between 600 and 700. A 2019 media report indicates the number was at 626, down from 684 in 2017. The state ABLE Commission did not respond to a request for an updated number on Thursday. Source: The Journal Record Sep 01, 2022: Walmart's Contract Might Not Be Enough to Float Canoo Into the Future JAKE LINGEMAN ON 9/1/22 AT 11:27 AM EDT Electric vehicle (EV) maker Canoo's first round of deliveries to Walmart has been completed. Now, the feasibility of the models for use as part of Walmart's InHome delivery service begins. The retail giant signed a deal with the startup in July for the 4,500 vehicles, with an option to purchase 5,500 more. The deal represents $300 million USD in potential revenue to the automaker, according to their second quarter earnings report. The company is currently in its infancy and burning through cash like many new automakers do. Due to SEC rules and regulations, Canoo, during the release of its first quarter 2022 earnings, was forced to tell investors that "There is substantial doubt about the company's ability to continue as a going concern." The financial reporting standard says that if a business does not have one year and a day's worth of operating funds when it reports earnings, it must officially issue that prescribed statement to investors, even if a cash infusion is imminent. Source: Newsweek Sep 01, 2022: Walmart invests in Nebraska Sustainable Beef facility 09.01.2022 By Ryan McCarthy BENTONVILLE, ARK. - Walmart Inc. and Sustainable Beef LLC announced on Aug. 31 that the world's largest retailer would take a minority stake in the company as it plans to start on a new $325 million beef processing facility in 2022. Construction on the plant in North Platte, Neb. is expected to break ground next month, opening in late 2024. The companies said 800 new jobs would be created at the facility. Sustainable Beef expects to process 1,500 head per day and up 100,000 per year when fully operational. "We set out on a journey two years ago to create a new beef processing plant to add some capacity to the industry and provide an opportunity for producers to integrate their business of raising quality cattle with the beef processing portion of the industry and do it in a sustainable manner," said David Briggs, chief executive officer of Sustainable Beef LLC. "During this journey we found that Sustainable Beef and Walmart aligned on continuing to improve how we care for our animals and crops and provide consumers the positive experience of enjoying quality beef." As part of the equity investment, Walmart will also have representation on Sustainable Beef's board of directors. "At Walmart, we are dedicated to providing high-quality, affordable beef to our customers, and an investment in Sustainable Beef LLC will give us even more access to these products," said Tyler Lehr, senior vice president of merchandising for deli services, meat and seafood, Walmart US. "We know Sustainable Beef LLC has a responsible approach to beef processing, one that includes creating long-term growth for cattle ranchers and family farmers. This investment provides greater visibility into the beef supply chain and complements Walmart's regeneration commitment to improve grazing management." Sustainable Beef plans to work with cattle feeders and ranchers to understand vital components of the supply chain, such as grain sourcing and grazing management. The beef processor will also commit to antibiotic use and reporting across herds in line with Walmart's Position on Antibiotics in Animals, which asks suppliers to adopt and implement the American Veterinary Medical Association Judicious Use Principles of Antimicrobials. Walmart did not disclose how much of an investment it made in Sustainable Beef. Source: Supermarket Perimeter Sep 01, 2022: Looking for Retail Stocks That Crushed Q2 Earnings? Check out These 2 September 1, 2022 While rising inflation is a major concern for most investors, shares of retail companies Walmart (WMT) and Williams Sonoma (WSM) have been soaring in price after surpassing earnings estimates in their recent quarterly releases. So, let's take a closer look at these names. Fears of a recession are growing as inflation remains elevated, and the Federal Reserve indicated that it would continue raising interest rates. The market is pricing in the chances of a 75-basis-point interest rate hike when the Fed meets on September 21. Retail sales were unexpectedly flat in July. However, amid this uncertain environment, well-known retailers Walmart Inc. (WMT) and Williams Sonoma Inc. (WSM) reported solid second-quarter results, surpassing Wall Street's estimates on earnings. The inclination of customers for low-cost food and necessities amid recession fears primarily helped these retailers perform well during the quarter. According to Forrester, total US retail sales are expected to reach $5.5 trillion, with U.S. online retail sales increasing at a 10% CAGR over the next five years and accounting for 30% of the market by 2027. Given WMT and WSM's impressive second-quarter earnings performance, it could be wise to add these stocks to your watchlist now. Walmart Inc. (WMT) The retail behemoth WMT runs e-commerce websites like Walmart.com, Walmart.com.mx, flipkart.com, and other sites in addition to supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, discount stores, and membership-only warehouse clubs. Last month, WMT and Sustainable Beef LLC announced today that Walmart has agreed to buy a minority stake in Sustainable Beef LLC, a rancher-owned business based in North Platte, Nebraska. Walmart's equity investment is part of a larger strategic collaboration to source high-quality Angus beef from Sustainable Beef LLC's new beef processing facility. This collaboration supplements the current beef industry and provides ranchers with additional opportunities to grow their businesses. WMT's total revenue increased 8.4% from the year-ago value to $152.86 billion for the second quarter ended July 31, 2022. The company's net income surged 20.4% from the prior-year quarter to $5.14 billion, while its EPS increased 23.7% year-over-year to $1.88. In addition, its global advertising business grew by nearly 30%. The company's adjusted EPS of $1.77 beat the consensus estimate by 10.6%. Analysts expect the EPS to increase 2.8% year-over-year to $10.07 in fiscal 2022. The consensus revenue estimate of $95.12 billion in fiscal 2022 represents a 1.4% increase from the same period last year. The stock has gained 3% over the past three months. WMT's POWR Ratings reflect this promising outlook. The company has an overall rating of A, which translates to a Strong Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting. WMT also rated a B for Growth, Quality, and Stability. Within the A-rated Grocery Big/Box Retailers industry, it is ranked 8 of 38 stocks. Source: Entrepreneur Sep 01, 2022: DERMA E Launches at Walmart in New Natural Face Care Section September 01, 2022 09:00 AM SIMI VALLEY, Calif.--(BUSINESS WIRE)--Clinically proven, dermatologist recommended clean skincare brand DERMA E has today announced their launch at Walmart, where they'll be stocking 10 products from their clinically proven Vitamin C, Hydrating, and Anti Wrinkle lines to the shelves of Walmart stores across the country in the Natural Face Care Section. "We're thrilled to be able to offer our clean, sustainable, and highly effective products through our launch in Walmart. With these 10 SKU's, we hope to offer our proven clean beauty solutions to even more customers from all across the U.S.," said Kyra Greweling, Vice President Sales. Derma E's dermatologist recommended Vitamin C line at Walmart will include their top selling Vitamin C Concentrated Serum, as well as the Vitamin C Gentle Daily Cleansing Paste, Vitamin C Intense Night Cream, and Vitamin C Renewing Moisturizer. Clinically proven to brighten and boost radiance*, DERMA E's Vitamin C collection is formulated with 100% stabilized Vitamin C, moisturizing Hyaluronic Acid, skin-balancing probiotics, antioxidant-rich vitamins, and botanicals to even skin tone & build skin's natural defenses while minimizing the look of fine lines and wrinkles and supporting collagen health. The brand's hyaluronic acid infused Hydrating collection at Walmart will feature their Ultra Hydrating Alkaline Cloud Cleanser, Ultra Hydrating Serum, and the Hydrating Day Cream. These dermatologist recommended, clinically proven hydrating products showed a 100% improvement in skin hydration* immediately after the first application as well as after 4 weeks of product use. Skin is plumped and replenished with essential vitamins and botanicals and vegan hyaluronic acid delivers intense moisture for healthy hydration while infused humectants work to reduce dullness, fine lines, and flakiness. 4-week clinical results confirm: 100% Improved skin hydration* *Based on results from independent 4-week clinical studies on the Hydrating line that included the Hydrating Gentle Cleanser, Ultra Hydrating Serum, Day Cream, Night Cream and Eye Cream. Finally, Walmart will welcome DERMA E's Anti Wrinkle Collection with three highly effective products. The Anti Wrinkle Retinol Cleanser, Anti Wrinkle Renewal Cream, and the Anti Wrinkle Treatment Oil join the Hydrating and Vitamin C collections at Walmart for even more powerful, clean solutions. Clinically proven to diminish the appearance of fine lines, wrinkles, pores and other skin irregularities*, DERMA E's Anti-Wrinkle line is ideal for dry, oily and combination skin. With highly effective, natural ingredients including skin-renewing Retinol, plant-derived Bakuchiol, gently exfoliating Glycolic Acids, and nourishing vitamin solutions to support surface cell renewal, each product in this age-defying line leaves skin smooth, glowing and renewed. 6-week clinical results confirm: 100% improved skin firmness after 4 weeks, 97% improvement in the appearance of fine lines and wrinkles after 6 weeks, 97% improvement in skin elasticity after 6 weeks* *Based on results from independent 6-week clinical studies on the Anti-Wrinkle line including the Anti-Aging Regenerative Serum, Day Cream, and Night Cream Dermatologist-recommended, and doctor-developed, this entrance into Walmart stores across the U.S. will allow DERMA E even deeper market penetration, providing an opportunity to reach new customers all across the United States and spread their clean, natural skincare message. DERMA E's clean beauty solutions are formulated with the most potent natural antioxidants and targeted vitamin solutions, ensuring they deliver unmatched results without the use of harmful chemicals. Source: Business Wire Sep 01, 2022: Walmart enters deal to buy remaining stake in South Africa's Massmart THU, 01 SEP 2022 05:03:02 GMT JOHANNESBURG, Sept 1 (Reuters) - U.S. retail giant Walmart Inc. WMT.N has signed an agreement to begin buying the 47% stake in South African retailer Massmart it does not own, the companies said in a joint statement on Thursday. Massmart had said on Monday that its majority owner Walmart had offered it 6.4 billion rand ($373 million) to purchase the remaining shares and to delist the company from the Johannesburg Stock Exchange. Read full story The offer would allow Walmart to cut costs, invest more capital and turn around Massmart which has been posting losses and losing market share to bigger local rivals. "Ordinary shareholders are hereby advised that Massmart and Walmart entered into an implementation agreement on 31 August 2022, in terms of which Walmart indicated its firm intention to make an offer," the companies said in the statement. The firm intention essentially means that the company has the cash in hand to go ahead with the purchase and will now seek approval of authorities. The two boards are of the view the proposed transaction would enable Walmart to continue its "overweight" support as a long-term shareholder and allow Massmart shareholders to realise value, they said. Since buying its stake in 2010, Walmart had tried several strategies to make Massmart a go-to retailer in South Africa but failed to do so due to competition from strong local rivals such as Shoprite SHPJ.J, Woolworths WHLJ.J and Pick N Pay PIKJ.J. "The proposed transaction is a strong reaffirmation of Walmart's commitment to Massmart and to South Africa," the statement said. Walmart will buy the shares using its cash reserves and has set a tentative date of Dec. 31 to complete the process, it said, adding that more details will be published on Sept 23. ($1 = 17.1678 rand) Source: CNBC Africa Aug 31, 2022: Can Walmart (WMT) profit from a recession? Many people believe America is on the verge of a recession. Consequently, many investors will wonder will America's biggest discounter Walmart (WMT) will profit. Walmart (NYSE: WMT) could profit from a recession because of its famous low prices. Interestingly, Walmart is slashing prices to help shoppers adjust to inflation, Business Insider reports. Additionally, Walmart will offer lower-cost alternatives to some items to help inflation. However, Walmart will have to raise food prices because of inflation, Chief Financial Officer Brett Briggs admits. Briggs says Walmart will cut sporting goods and hardware prices to maintain sales. Walmart will try to keep prices low on "price-point items," such as milk, tuna, and bread, CEO Doug McMillon promised in May. To explain, "price point" items are staples families buy in any economy. Can Walmart Grow in a Recession? Interestingly, revenue growth shows McMillon and Briggs' strategy is working. Stockrow estimates Walmart's revenue growth rate rose from 2.36% in the quarter ending on 30 April 2022 to 8.37% in the quarter ending on 31 July 2022. Conversely, Walmart's revenues grew by just 0.52% in the quarter ending on 31 January 2022. Walmart's quarterly revenues grew from $141.469 billion on 30 April 2022 to $152.859 billion on 31 July 2022. I calculate Walmart's revenues grew by $11.29 billion in the last quarter. So yes, Walmart is growing in a recession. Walmart Inc. (WMT) is making more money. The quarterly gross profit grew from $34.772 billion on 30 April 2022 to $37.021 billion on 31 July 2022. However, the quarterly revenues fell from $37.349 billion on 31 January 2022. In contrast, the quarterly operating income grew from $5.318 billion on 30 April 2022 to $6.854 billion on 31 July 2022. However, the quarterly operating income fell from $7.354 billion on 31 July 2021 and $5.887 billion on 31 January 2022. I conclude people are shopping more at Walmart but spending less money. To elaborate, people are buying groceries at cleaning supplies at Walmart because of rising inflation. Conversely, people making fewer purchases of big ticket goods such as TV sets out of inflation fears. How Much Cash is Walmart (WMT) generating? Walmart (WMT) can generate enormous amounts of cash. For example, it reported a quarterly operating cash floor of $12.988 billion on 31 July 2022. The quarterly operating cash flow rose from -$3.758 billion on 30 April 2022 and $7.98 billion on 31 January 2022. However, Walmart borrowed $5.315 billion of that cash. Walmart reported a $5.315 billion quarterly financing cash flow on 30 April 2022. The quarterly financing cash flow fell to -$6.715 billion on 31 July 2022. Hence, Walmart could generate $12.988 billion in cash and pay $6.715 billion in debt in a quarter. Conversely, Walmart's quarterly ending cash flow fell from $11.882 billion on 30 April 2022 to $2.108 billion on 31 July 2022. Walmart had $13.923 billion in cash and short-term investments on 31 July 2022. The cash and short-term investments rose from $11.817 billion on 30 April 2022 and fell from $22.831 billion on 31 July 2021. What Value Does Walmart Offer? I think Walmart (WMT) offers tremendous value because it generates cash and adds value in a recession. However, Walmart has lost some value. For example, Walmart's Total Assets grew from $246.142 billion on 30 April 2022 to $247.199 billion on 31 July 2022. The total assets grew from $238.552 billion on 31 July 2021. Moreover, Walmart's total debt fell from $66.917 billion on 30 April 2022 to $65.309 billion on 31 July 2022. However, the total debt grew from $57.323 billion on 31 January 2022 and $60.879 billion on 31 July 2021. Thus, Walmart is paying debts, adding value, and accumulating cash in a recession. Hence, I consider Walmart a value investment that can grow in a recession. Is Walmart a Value Investment? Appealingly, Walmart's stock price has fallen. Mr. Market paid $147.70 for WMT on 30 August 2021 and $132.55 for Walmart on 31 August 2022. I think Mr. Market underprices Walmart, which makes it a value in today's stock market. Walmart's value characteristics include a wonderful dividend. Walmart has scheduled eight 56₵ quarterly dividends between 6 September 2022 and 3 July 2024. Walmart shares paid a $2.24 forward dividend and a 1.69% forward dividend on 31 August 2022. If you need a value stock that can grow and generate dividend income during the recession. I recommend Walmart (NYSE: WMT). So, yes, Walmart is a value investment I consider a widow and orphans stock. What Value Does Walmart Offer? Walmart's value includes 4,742 stores and 210 distribution centers in the United States. Statista estimates Walmart operated 370 discount stores, 799 Neighborhood Markets, and 3,573 Supercenters on 27 July 2022. Hence, Walmart (WMT) has one of the largest retail footprints in the United States. Moreover, Walmart claims it has stores located within 10 miles of 90% of the US population. If that's true, Walmart operates stores within 10 miles of 301.769 million Americas. To explain, WorldoMeter estimates the USA had a population of 335.241 million in August 2022 and 90% of 335.241 million is 301.769 million. Additionally, Walmart is a major player in e-commerce. Walmart operated 31 dedicated e-commerce fulfillment centers in the US on 3 July 2022. Moreover, Walmart plans to build four next generation fulfillment centers over the next three years, a press release reveals. Walmart Ramps Up E-Commerce Walmart is partnering with Austrian logistics automation company Knapp to automate those fulfillment centers. Knapp's system uses robots, hard automation, and machine learning to speed up the fulfillment process. Walmart claims Knapp's system can reduce the fulfillment process from 12 steps to five steps. In particular, they claim the Knapp system can pick and pack items for shipment in under 30 minutes. They have been testing the Knapp technology at a Pedricktown, New Jersey, fulfillment center. Walmart hopes to open first new fulfillment center at Joliet, Illinois, this summer. Furthermore, they claim the Knapp process can double the number of orders a fulfillment center can fill in a day. Plus, Walmart claims the new fulfillment centers could reach 75% of the US population with one or two-day shipping. Walmart also claims it could reach 95% of the US population with one or two-day shipping if they combine new old and fulfillment centers. Walmart E-commerce is Growing Hence, Walmart (WMT) can cash in on expensive gas and inflation with a growing e-commerce fulfillment system. Statista estimates Walmart is America's second-largest retail e-commerce company with 6.3% of the US market in June 2022. In contrast, the largest US e-commerce company had 37.8% of the US market in June 2022. Walmart's online sales grew by 11% in fiscal 2022 and 1% in the quarter ending on 31 July 2022, Supermarket News reports. Walmart's online sales grew by 90% between fiscal 2020 and the end of fiscal 2022 (July 2022), Supermarket News claims. How Inflation can Help Walmart Grow Hence, Walmart's e-commerce is growing and poised to grow more. I think Walmart's e-commerce will grow if inflation gets worse and recession comes. America's inflation rate rose from 5.25% in August 2021 to 8.52% in July 2022, Statista estimates. Although inflation fell slightly from 9.06% in June 2022. I think inflation could rise because Federal Reserve Chair Jerome Powell thinks higher inflation and interest raise increases are probable. Powell said the Fed will need to keep raising interest rates to fight inflation for the next few months at a 26 August conference in Jackson Hole, Wyoming, NPR reports. Hence, Powell fears inflation will keep rising, which can be good for Walmart (WMT). To explain as inflation rises, families will need to cut costs, which means more visits to Walmart stores and Walmart.com. If you want a dividend-paying value stock that could grow with inflation. I think you need to investigate Walmart Stores Inc. (NYSE: WMT). Source: DataDrivenInvestor Aug 31, 2022: Walmart Move Threatens Oklahoma Wine Retailers Walmart has been trying to grow its share of wine and spirits sales in the state of Oklahoma - and that's got smaller retailers worried. According to retail sources, the chain store spent approximately $5 million in an attempt to have State Question 792 passed, which amended the state's constitution to allow grocery and convenience stores to sell wine and high-alcohol beer when it was approved in 2016. Walmart did not confirm this expenditure of funds. Walmart is again revving up, with the help of a high-powered local political consultant, to push for chain stores' rights to sell spirits. States that allow the sale of not only wine but spirits as well in groceries generally have less-dynamic independent retail markets because chain store has become the one-stop shop for patio furniture, hamburger and the Cabernet to go with it. Walmart's global communications director for the western United States, Lauren Willis, shared the company's corporate take on the issue. She said: "Our customers have told us they want more choice and convenience when shopping for spirits in Oklahoma and we're interested in seeing what role we might be able to play in advocating for them on this issue." Markets like New York, where neither wine nor spirits can be sold in grocery stores have long had tons of vibrant independent retailers. California, where groceries and delis can sell wine, less so. As a New Yorker who spent much of her adult life in San Francisco, I was shocked how few fine-wine retailers were doing business there given its residents' deep pockets and interest in wine. Political consultant Pat McFerron, the founding partner of the Oklahoma City-based CMA Strategies Inc., failed to respond to multiple requests for feedback for this story. Former Republican State Senator Clark Jolley, who was one of SQ 792's main political supporters when it passed, also did not respond to requests for comment. What this means for small wine retailers "Walmart has the intention of dominating every market," according to Rob Jernigan, the president of the 618-member Oklahoma City-based Retail Liquor Association of Oklahoma (RLAO). He is also the owner of the one-location, Bacchus Wine & Spirits Shop in Edmond, Oklahoma. After SQ 792 passed, he estimates that he lost 30 percent of his wine business that he has never recovered. He estimates if the 122 Walmart locations in the state of Oklahoma get the right to sell spirits, that hundreds of independent wine stores might shutter. What is more, he believes that, "small wineries will lose shelf placements unless they fly out to Bentonville [where Walmart is based] and do the horse and pony show." The pricing game Jernigan notes that independent stores can't compete with Walmart's unprofitable low pricing. He notes that the chain is selling wine at a 23 percent loss. An off-the-record source also noted that the chain is able to price wine at such a steep discount because of rebates that offer a few dollars back on bottle purchases so the overall price comes in at lower than cost. The retailer is known to have higher profit margins on items like meat, paper and sporting goods, so it can take a loss in other categories. One of the bigger risks, when a major chain comes into town, is a diminished wine selection for bottom-line consumers. This has long been a concern for independent wine shops-and the consumers who love them-in a number of markets where Total Wine has opened locations. While not a generalist like Walmart, the 216-location chain is able to offer lots of brands at major discounts that can funnel traffic to its locations and eventually lessen selection in certain markets. Also, what is available in stores, in any state, often is dictated by the wholesalers that supply the product. "The majority of your small producers are distributed by small wholesalers. Walmart's shelves are dominated by Republic National and Southern Glazer's," shares Dirk W. van Veen, the owner of Mary's Liquor Mart in Tahlequah, who is also the vice president of the RLAO. "This big-box, retail strategy leaves little room for variety or new product development. It's important to remember that every time someone buys a 'convenient' bottle of Yellow Tail at Walmart, you have just deprived that customer of the opportunity to have an informative and interactive experience with a small business owner and their recommendation for a thoughtfully made product, from an often domestic, small producer." Jernigan notes that independent store owners are more focused on their clients and tend to "pick what wines we think are good and what our customers are going to buy". Van Veen adds that large wholesalers could, at the same time, do a better job of supporting independents. He shares his belief that the nation's major wholesalers "are marching toward their own demise. Walmart only has 128 stores selling beer and wine in Oklahoma compared to 618 full-service, individually owned liquor stores. Yet Republic and Southern execs time and again will tell us that Walmart is their largest customer. I then argue that 618 liquor stores are far and away their largest customers." The underage risk factor Independent retailers in Oklahoma also have concerns about the frequent sale of product to underage customers in chain operations. Mom-and-pop shops believe that they are better equipped to spot fake IDs and at preventing theft. Several of them added that Walmart is chronically understaffed and that a chain location would never close if it made the mistake of selling to a minor. But an independent operation could lose its license and is therefore much more incentivized to prevent theft and sales to minors. "Big box chain stores' multiple points of egress, 16-year-old employees, customers of every age, large square footage, low employee-to-customer ratio and most important their total disregard for product securitization coupled with policy to not intervene with shoplifters makes them without a doubt the worst stewards of a controlled substance," shares van Veen. "And, yes, we are better at identifying fake IDs. We have to be. It could cost me fines, my livelihood and even my home. I doubt that could be said of a Walmart manager or executive." Shelf stocking and the future It has long been illegal for wholesalers to provide retailers with financial incentives. This could include taking the staff to lunch or helping them stock product on the sales floor. However, despite that legal restriction, big retailers have long expected wholesaler sales staff to stock, and sometimes even promote, product on a sales floor. As a customer, I have run into wholesale sales representatives hawking wine in store aisles. What is more, as a wholesaler and importer in Seattle as the now-defunct Vinum Importing and Distributing more than a decade ago, I was told by a number of stores that we couldn't provide them with product as we didn't have staff to stock the shelves at our very small company. "Walmart and Target expect free labor to stock their shelves and rotate their product and Republic and Southern [the large wholesalers] comply. We have submitted numerous videos showing this activity to the Oklahoma ABLE Commission," shares van Veen. ABLE, or the Alcoholic Beverage Laws Enforcement Commission, is the state's control state advisory board. It did not respond to questions for this story. In short, Jernigan notes that if his state has fewer dedicated, independent sources of wine then "people will be stuck with Cupcake or Two-Buck Chuck, or whatever they stock." Jernigan also believes that "Walmart will continue to use predatory pricing to break the backs of small mom and pop shops around the state". In the long term, he adds that small store owners who know no other career will end going end up "stocking shelves for Walmart". "Suffice it to say, these huge national retailers and their wholesalers wield an enormous amount of influence on every level of state government. Unless something changes soon, I would say the outlook isn't great for the retail liquor industry and as a result the craft brewers, distillers and small wineries," concludes van Veen. Only a mix of time, deep pockets and political advocacy will tell. Source: Wine-Searcher Aug 31, 2022: Walmart Announces Equity Investment in Sustainable Beef LLC To Provide More High-Quality, Affordable Beef to Shoppers August 31, 2022 09:00 AM BENTONVILLE, Ark. & NORTH PLATTE, Neb.--(BUSINESS WIRE)--Walmart and Sustainable Beef LLC announced today that Walmart signed an agreement to acquire a minority stake in Sustainable Beef LLC, a rancher-owned company based in North Platte, Nebraska. Walmart's equity investment is part of a broader strategic partnership to source top-quality angus beef from Sustainable Beef LLC's new beef processing facility. This partnership helps supplement the current beef industry and provides additional opportunities for ranchers to increase their business. As part of the investment, Walmart will also have representation on Sustainable Beef's board. Walmart's investment will help Sustainable Beef LLC open their beef processing facility in North Platte, Neb. The facility is expected to break ground next month and open by late 2024, creating more than 800 new jobs. Walmart's work with Sustainable Beef LLC will create more capacity for the beef industry. "At Walmart, we are dedicated to providing high-quality, affordable beef to our customers, and an investment in Sustainable Beef LLC will give us even more access to these products," said Tyler Lehr, senior vice president of merchandising for deli services, meat and seafood, Walmart U.S. "We know Sustainable Beef LLC has a responsible approach to beef processing, one that includes creating long-term growth for cattle ranchers and family farmers. This investment provides greater visibility into the beef supply chain and complements Walmart's regeneration commitment to improve grazing management." Sustainable Beef LLC will work with cattle feeders and ranchers to understand critical elements of the supply chain cycle, such as grain sourcing and grazing management. Animal care will follow the Five Freedoms, and there will be a consistent approach to antibiotic use and reporting across herds in line with Walmart's Position on Antibiotics in Animals, which asks suppliers to adopt and implement American Veterinary Medical Association Judicious Use Principles of Antimicrobials. All of these components will help Sustainable Beef LLC to improve and refine the beef supply chain to provide quality beef for our customers. "We set out on a journey two years ago to create a new beef processing plant to add some capacity to the industry and provide an opportunity for producers to integrate their business of raising quality cattle with the beef processing portion of the industry and do it in a sustainable manner," said David Briggs, CEO of Sustainable Beef LLC. "During this journey we found that Sustainable Beef and Walmart aligned on continuing to improve how we care for our animals and crops and provide consumers the positive experience of enjoying quality beef." Walmart's investment in Sustainable Beef LLC is the latest step in the retailer's commitment to increasing access to high-quality beef at an affordable price for its customers, while boosting capacity for the beef industry and ensuring long-term economic viability for cattle ranchers. Source: Business Wire Aug 31, 2022: Walmart enters deal to buy remaining stake in S.Africa's Massmart JOHANNESBURG, Sept 1 (Reuters) - U.S. retail giant Walmart Inc. (WMT.N) has signed an agreement to begin buying the 47% stake in South African retailer Massmart it does not own, the companies said in a joint statement on Thursday. Massmart had said on Monday that its majority owner Walmart had offered it 6.4 billion rand ($373 million) to purchase the remaining shares and to delist the company from the Johannesburg Stock Exchange. Source: Reuters Aug 31, 2022: Walmart and Target; Kohl's and Best Buy, Two Supply Chain Tales Aug 31, 2022 One retailer's explanation is another retailer's excuse. Here's what Walmart, Target, Kohl's, and Best Buy investors should know. Every business deals with problems and, in many cases, the same problem impacts an entire industry. How a company handles those issues tells investors more about those companies than nearly any other indicator. The retail business, for example, has been dealing with a perfect storm of problems caused directly and indirectly by the pandemic. First, predicting what consumers might buy has become a major challenge because what people purchased during the worst of the pandemic almost certainly does not reflect what they might buy over the coming year. That's why Walmart (WMT) - Get Walmart Inc. Report, Target (TGT) - Get Target Corporation Report, and Best Buy (BBY) - Get Best Buy Co. Inc. Report ended up with too many televisions in their inventories. Last year, when people were stuck at home due to covid, they upgraded their TVs, which actually made them less likely to buy new ones this year because unlike some appliances, TVs don't generally wear out faster based on use. Retailers also must deal with supply chain problems which is directly related. Manufacturers, in many cases, don't know what to make any more than retailers know what consumers may buy. And, finally, retailers face unknown larger issues. For example, Walmart, Target, and Kohl's (KSS) - Get Kohl's Corporation Report all have to make decisions about what clothing to stock without knowing what the future of work-from-home will fully look like. These are real problems that every retailer has to deal with, but they can also be excuses designed to deflect blame for bad decisions away from management. In Retail, It's About Customers Both Walmart and Target admitted they made some inventory mistakes that resulted in them having too many of certain items. That led to both chains choosing to discount some merchandise in order to free up warehouse and store shelf space before the holiday season. Those mistakes tied up cash and led to sell-offs at lower margins. Taken in context, however, both companies grew their revenue and same-store sales in the most-recent quarter Walmart reported total revenue of $152.9 billion, up 8.4%, while Walmart U.S. comp sales grew 6.5%.and 11.7% on a two-year stack. Target saw total revenue of $26 billion grow 3.5% compared with last year, while same-store sales were up 2.6%, on top of 8.9% growth last year. And while Walmart and Target have seen (or will see) margins shrink as they sell certain items at a discount, they're using their mistakes to build customers good will and keep overall revenues up. A customer who got an unexpected deal on a television or some other big-ticket item won't think of the chain as having made any sort of error and will likely feel better/more loyal toward the company. Best Buy and Kohl's, however, told a very different story last quarter. Best Buy saw domestic revenue of $9.57 billion decrease by 13.1% versus last year primarily driven by a comparable sales decline of 12.7%. Kohl's reported a revenue drop of 8.1% to $4.09 billion and second-quarter comparable sales decrease 7.7%. Management Never Blames Itself The challenge for any investor looking at these companies is weighing the actual impact of the parts of these problems companies do not control. When normal consumption patterns change, that makes past data less useful. Walamrt, Target, and Best Buy don't know if people bought more appliances because they were stuck at home during the pandemic or if the overall replacement cycle accelerated because we were harder on everything in our houses because we're home more during the pandemic. Kohl's, Walmart, and Target face similar challenges in the apparel space. Is dressing more casually a long-term trend or will it be cyclical as this type of thing has been in the past? Will people only need the tops of their business outfits because they're conducting meetings on video calls not in person? (That was a real trend early on during the pandemic). Walmart and Target have been public about areas where they bought too much or where supply chain issues caused them to miss out on part of the demand cycle. Both companies have grown despite those issues while Best Buy and Kohl's have shrunk. It's possible the broad economic conditions and all the things mentioned above impact Best Buy and Kohl's in exactly the way their management has said. Of course, it's more likely that both have failed to pivot as well as Target and Walmart have. Maybe Kohl's and Best Buy made the wrong merchandise choices and perhaps they won't be as adept at course correcting. Management never comes out and blames itself especially when there's a ready narrative in the media that can be blamed, but excuses from CEOs are sometimes just excuses and not actually answers. Source: Rockdale Citizen Aug 31, 2022: Walmart Sam's Club to hike membership fees for first time in years (Reuters) - Walmart Inc-owned Sam's Club will raise its membership fees for the first time in at least nine years, the warehouse club chain said on Wednesday, as it seeks to shore up its margins. U.S. retailers have been looking for ways to bump up their profits following a slump in demand for high-margin discretionary products as inflation-hit consumers rein in spending. Starting Oct. 17, annual membership fees will increase to $50 from $45 for entry-level "Club" members and to $110 from $100 for "Plus" customers who receive more perks including free shipping. This is the first time Sam's Club is raising the fee for "Plus" customers since introducing the offering in 1999, while "Club" fees are being hiked for the first time in nine years. Sam's Club also said it would give $5 to "Club" members and $10 to "Plus" customers, as a one-time offer, in digital cash shortly after membership renewals this year. Sam's Club's bigger rival Costco Wholesale Corp last raised its fee in 2017 and analysts have said the company, which typically increases its fee every 5-1/2 years, could delay it this time as consumers cut spending. (Reporting by Praveen Paramasivam in Bengaluru; Editing by Vinay Dwivedi) Source: SaltWire Aug 31, 2022: Walmart-owned Sam's Club raises annual membership fee for the first time in nine years AUG 31 20223:25 PM Walmart-owned Sam's Club said Wednesday it will raise its annual fees this fall, as the warehouse club's membership hovers at a record high and inflation-pinched shoppers seek deals on bulk items. Fees will increase to $50 from $45 for club members and to $110 from $100 for members of its higher-tier level, "Plus," which includes some additional perks. The changes take effect Oct. 17. It marks the first fee hike in nine years for the entry-level membership. Sam's Club has not raised the price of the "Plus" membership since it debuted in 1999. That brings Sam's closer in price to rival Costco, which charges $60 a year for its basic membership and $120 for its higher-tier "Gold" membership. Sam's Club is hiking annual fees as warehouse clubs benefit from budget-conscious customers. Shoppers turned to Costco, BJ's Wholesale Club and Sam's Club during the early months of the Covid pandemic to stock up on huge packs of toilet paper, household cleaners and cans of soup. In recent months, those shoppers have sought relief from inflation by seeking out cheaper gas and high volume discounts. At the same time, inflation may make the increase sting. In a note to members Wednesday afternoon, Sam's Club CEO Kath McLay said the company is "mindful of the financial pressure on wallets right now." With that in mind, she said, Sam's Club will pick up the tab this year by reimbursing the fee increase in Sam's Cash that can be used at its stores. Investors have speculated about a potential hike in Costco's fees, too. The club last raised its fee in June 2017 and has historically bumped it up every 50.5 years, which would put it on track for this year. Costco CEO Craig Jelinek shook off talk of an increase on CNBC's "Squawk on the Street" in July. "I can tell you that we think about it every year, but right now, in terms of the membership fee it's not on the table right at the moment," he said. "I've made it very clear. I don't think it's the right time." Sam's Club has almost 600 stores across the U.S. and in Puerto Rico. It does not disclose its membership count, but said in the most recent quarter that it is at an all-time high. Membership income increased 8.9% in the quarter that ended July 31. Its sales growth is outpacing other parts of Walmart's business. Same-store sales at Sam's Club grew 9.5% in the most recently reported quarter versus 6.5% at Walmart U.S. Chief Member and Marketing Officer Ciara Anfield said Sam's Club decided to make the move because of investments in recent years, from elevating the quality of merchandise on its shelves to adding new and convenient ways to shop. In recent years, it has added curbside pickup at stores, offered same-day home delivery, refreshed its Member's Mark private brand and launched Scan & Go, a smartphone app that people can use to ring up items as they walk through aisle. It has started carrying brands such as Eddie Bauer, La Mer and Banana Republic. And even some of its bakery treats have gotten a gourmet spin, such as cinnamon rolls made with a French baking technique. She compared the rollout of those new perks to building a house or spending money on renovation projects. "There's an expectation that after you invest in this home, it will be worth more," Anfield said. "We've made investments and we believe our proposition, our membership is now worth more." Source: CNBC Aug 31, 2022: Walmart out to woo more Canada sellers August 31, 2022 at 10:50 a.m. Walmart Inc. is recruiting Canadian sellers to join its U.S. online marketplace with a virtual Global Seller Summit on Sept. 8. Selling on the U.S. marketplace will give Canadian businesses access to the more than 120 million customers who visit it each month, Walmart said in a news release Tuesday. The one-hour webinar begins at 10 a.m. with "practical sessions hosted by Walmart executives and cross-border payments provider Payoneer," the company said. Attendees will learn about "simplified onboarding, streamlined fulfillment, targeted promotions, integrated financial services and other support." A Walmart spokeswoman said the summit is the latest in a series of steps Walmart is taking to bring international sellers to the U.S. marketplace and broaden its assortment of high-quality products. Darren Carithers, senior vice president of Marketplace development for Walmart International, said Walmart is "investing heavily in new services and tools for sellers." These tools include Walmart Fulfillment Services, which lets businesses use the Bentonville based retailer's supply chain infrastructure to offer rapid delivery. Source: The Arkansas Democrat-Gazette Aug 30, 2022: HealthKick Podcast: NGS's growth just accelerated with launch into 403 select Walmart stores Stockhead's resident health and biotech expert Tim Boreham is putting down the microscope and picking up the microphone for another instalment of The Health Kick Podcast. In this episode Tim sits down with Liron Fendell, CEO and managing director of Nutritional Growth Solutions (ASX:NGS). Nutritional Growth Solutions creates nutritional supplements that are scientifically formulated by paediatric doctors, patented, and clinically proven to support growth development in children. NGS is making headlines after announcing they are expanding their retail presence in the US with a distribution agreement with natural food store operator The Healthy Edge Group Inc. The company's chairman Dave Fenlon joined us on a recent episode of Market Movers with Oriel Morrison to discuss NGS' launch into 403 select Walmart stores in the US. Source: Stockhead Aug 30, 2022: Labor Day store hours: Walmart, Target and Home Depot are open; Costco is closed Labor Day weekend means there are online deals galore. If you're looking to do in-store shopping, you're in luck with that, too: Most stores and major retailers are open during Labor Day, with some simply slashing business hours. The only ones you'll have to remember are Costco, USPS, FedEx and UPS, which are all closed Monday, September 5 for Labor Day. Get deals and shopping advice delivered straight to your phone. Sign up for text message alerts from the experts at Reviewed. If in-store shopping is on your agenda this Labor Day weekend, check out our updated list of open retailers below, which includes major chains like Home Depot, Nordstrom and Macy's. Labor Day 2022: Shop the 70 best early sales at Lowe's, Best Buy and Amazon Lowe's Labor Day sale: Save on appliances, furniture and more now Labor Day 2022: Shopping guide Labor Day 2022 sales and deals: Shop the 70 best sales at Lowe's, Best Buy and Amazon Walmart Labor Day sale: 50+ best sales on Dyson, Samsung, Ninja and more Best Buy Labor Day sale: Save on Samsung, Apple and HP Lowe's Labor Day sale: The best deals on appliances, furniture and more Samsung Labor Day sale: Shop deals on smartphones, headphones and TVs Wayfair Labor Day sale: Shop savings on KitchenAid, Nautica and more Labor Day mattress sales: Save big at Mattress Firm, Nectar and Serta Labor Day furniture sales: Shop deals at Wayfair, Amazon, Target and Ashley Furniture Labor Day appliance sales: Shop deals at Lowe's, Walmart and Best Buy Labor Day TV sales: Shop the best TV deals on Samsung, TCL and LG Labor Day fashion sales: 37 best sales at Michael Kors, Nordstrom and lululemon Source: USA Today Aug 30, 2022: Walmart's (WMT) Buyout of 47% Stake in Massmart to Aid Growth AUG 30, 2022 05:42AM EDT Walmart Inc. WMT has been committed to strengthening its business, domestic and international. Moving on these lines, the company offered to buy the remaining stake in Massmart Holdings Limited, per various media sources. Walmart has apparently made a 6.4-billion rand offer for the South African retailer's 47% stake. Walmart bought a 51% interest in Massmart more than a decade back, marking its foray into South Africa and adding a new leaf to its geographical growth story. Sources reveal that the U.S. supermarket giant has been offering increased financial and operational support to Massmart's operations since then. If the abovementioned offer for the remaining stake takes shape, it is likely to support Massmart's turnaround plan. Walmart's International business has been performing well. Sales in the segment rose 5.7% to $24.4 billion in the second quarter of fiscal 2023. On a constant currency or cc basis, net sales jumped 9.9%. The company witnessed positive comp sales across its biggest markets - Canada, Mexico and China. In the International segment, e-commerce sales advanced by 15% at cc. Operating income, on a cc basis, grew 28.3% to $1.1 billion. What Else to Know? Walmart has been benefiting from its robust omnichannel operations due to its efforts to enhance both store and online experience. From the fiscal 2021 beginning to the fiscal 2022 end, the company's digital sales, as a percentage of sales, increased from 6% to 13%. The retail giant has been taking several e-commerce initiatives, including buyouts, alliances, and improved delivery and payment systems. The company is innovating the supply chain and adding capacity as well as building businesses, such as Walmart GoLocal, Walmart Connect, Walmart Luminate, Walmart+, Spark Delivery, Marketplace and Walmart Fulfillment Services. The company recently revealed the addition of Paramount+ streaming service for the members of Walmart+ at no extra cost in September. In the second quarter of fiscal 2023, total revenues of $152.9 billion grew 8.4% and beat the consensus mark of $151.4 billion. On its lastearnings call management stated that it expects a solid end to the back-to-school season and remains encouraged about its fall and holiday products. Walmart now expects consolidated net sales growth of nearly 4.5% for fiscal 2023. Excluding divestitures, the metric is likely to grow roughly 5.5%. Management had earlier anticipated consolidated net sales growth of nearly 4% at cc. Excluding divestitures, the metric was expected to grow nearly 4.5 to 5%. For the third quarter of fiscal 2023, WMT expects consolidated net sales growth of nearly 5%. Walmart's consolidated operating income and earnings per share guidance for fiscal 2023 suggest a decline from the year-ago period's reported figures. The company's sales and profit views for fiscal 2023 reflect the trends witnessed to date along with volatility related to inflation and consumer spending in the coming quarters. However, the company is undertaking additional pricing actions in the third quarter. Shares of this Zacks Rank #3 (Hold) company have increased 3.3% in the past three months compared with the industry's rise of 1.3%. 3 Hot Retail Stocks Here, we have highlighted three better-ranked stocks, namely Dillard's, Inc. DDS, Ulta Beauty ULTA and Costco Wholesale COST. Dillard's, which operates retail department stores, sports a Zacks Rank #1 (Strong Buy). The company has a trailing four-quarter earnings surprise of nearly 215%, on average. You can see the complete list of today's Zacks #1 Rank stocks here. The Zacks Consensus Estimate for Dillard's current financial-year sales suggests growth of nearly 6% from the year-ago period. DDS has an expected EPS growth rate of 14.6% for three to five years. Ulta Beauty, which operates as a retailer of beauty products, sports a Zacks Rank #1. Ulta Beauty has a trailing four-quarter earnings surprise of 32.8%, on average. ULTA has an expected EPS growth rate of 10.7% for three to five years. The Zacks Consensus Estimate for Ulta Beauty's current financial-year sales suggests growth of 13.7% from the year-ago reported number. Costco, which operates membership warehouses, currently carries a Zacks Rank #2 (Buy). COST has an expected EPS growth rate of 9.2% for three to five years. The Zacks Consensus Estimate for Costco's current financial-year revenues and EPS suggests growth of 15.4% and 18.2%, respectively, from the year-ago reported figure. COST has a trailing four-quarter earnings surprise of 9.7%, on average. Source: Nasdaq Aug 30, 2022: Walmart seeks to dismiss lawsuit by FTC over money transfers August 30, 2022 8:32:00 am Walmart filed a motion on Monday to dismiss a Federal Trade Commission lawsuit that accuses the nation's largest retailer of allowing its money-transfer services to be used by scam artists. The motion calls the FTC's June lawsuit an "egregious instance of agency overreach."The FTC alleges in its lawsuit that for years, Walmart failed to properly secure the money-transfer services offered at its stores, stealing "hundreds of millions of dollars" from customers. The agency said Walmart didn't properly train its employees, failed to alert customers, and used procedures that allowed fraudsters to cash out at its stores. The FTC had asked the court to order Walmart to return money to consumers and to impose civil penalties on the company. In a 41-page document, filed in U.S. District Court for the Northern District of Illinois Eastern Division, Walmart laid out a number of what it called legally flawed claims, including that the agency lacked "constitutionally valid authority to sue for money or injunctive relief." It said that the FTC is trying to hold Walmart liable for the criminal actions of completely unrelated third-party fraudsters, even as Walmart has embraced a number of steps to stop such scamming. Walmart argued that the agency is trying to contort a regulation called the Telemarketing Sales Rule that was aimed to go after telemarketers and those who actively help them, of which Walmart is neither. The retailer also took issue with the FTC's claim that Walmart allegedly engaged in an "unfair" act or practice, or any ongoing or imminent misconduct under Section 5 of the FTC Act. "To be clear, Walmart is now - and always has been - dedicated to its customers and shares the FTC's goal of protecting customers from fraudsters," the Walmart filing said. "But this lawsuit is an egregious instance of agency overreach." Walmart stores let shoppers to transfer money using three providers - MoneyGram, Ria Financial Services, and Western Union Co.Walmart, based in Bentonville, Arkansas, said it has developed and implemented a host of anti-fraud measures - including customer warnings and employee trainings. Based on data available to Walmart, of nearly 200 million money-transfer transactions processed at its U.S. namesake stores between 2015 and 2020, fewer than 0.08% were reportedly the product of fraud, according to the Walmart filing. And it said that some of that reported fraud may not be fraud at all, making the actual fraud rate even smaller. In its argument that the FTC overreached in its authority, Walmart cited a April 2021 Supreme Court case that makes it difficult for the agency to engage in a long-time practice of seeking to recover ill-gotten gains from individuals or companies that steal from consumers. As a result of the ruling, the agency will now have to rely on other lengthier and more complicated legal maneuvers to recoup dollars from defrauded individuals. FTC spokesman Jay Mayfield declined to comment on Walmart's motion but said the agency will file its response on Oct. 5. Source: The Financial Express Aug 30, 2022: Walmart Invites Canadian eCommerce Companies To Expand on Its U.S. Online Marketplace Aug. 30, 2022 BENTONVILLE, Ark., and MISSISSAUGA, Ont., Aug. 30, 2022 - Offering Canadian companies a straightforward way to expand stateside, Walmart is recruiting Canada-based sellers to join its flagship U.S. Marketplace and serve a growing base of more than 120 million loyal online shoppers each month. Entrepreneurs and e-commerce sellers interested in being among the first to explore the opportunity can sign up for the Virtual Walmart Global Seller Summit - Canada on Sept. 8. It will feature practical sessions hosted by Walmart executives and cross-border payments provider Payoneer. Attendees will learn how they can take advantage of simplified onboarding, streamlined fulfilment, targeted promotions, integrated financial services and other support to help them rapidly scale and grow in the U.S. and Canada. The drive to attract Canadian companies builds on decades of Walmart's engagement with retailing and e-commerce in Canada. Giving sellers on the thriving Walmart.ca marketplace an opportunity for international expansion, it also comes as local businesses, especially small- and medium-sized enterprises, are looking to reap the benefits of the Canada-United States-Mexico free trade agreement (CUSMA). Darren Carithers, senior vice president of Marketplace development for Walmart International, said that Walmart is focused on growing its U.S. and Canada marketplaces and investing heavily in new tools and services for sellers. "Building eCommerce marketplaces that both customers and sellers trust has been a priority for Walmart for years. Whether you are an experienced Walmart seller or new to the Walmart family, we want to help you succeed on our U.S. and Canadian marketplaces," Carithers said. "By working together, we can serve more customers and help everyone save money and live a better life." Among the world-class tools available to help sellers streamline cross-border operations and grow their stateside business is Walmart Fulfillment Services. It allows Canadian sellers to use Walmart's extensive market-leading U.S. supply chain expertise and infrastructure to offer delivery across the contiguous U.S. in as fast as one to two days. Sellers can also use the Walmart Connect media platform to run impactful advertising and marketing campaigns and access Seller Center tools that help them speed up processes, identify growth opportunities and optimize their catalog and listings. "Payoneer's mission is to connect small businesses to the global economy. Our partnership with Walmart gives our sellers the opportunity to work with one of the biggest names in retail. We are delighted to see more Canadian entrepreneurs and small businesses joining the global digital economy and selling to U.S. consumers on Walmart Marketplace," said Ya Wen, senior vice president, Americas, Payoneer (NASDAQ: PAYO). Source: Walmart Inc. Aug 30, 2022: WALMART BACKS MAJOR REGENERATIVE COTTON FUND AUGUST 29, 2022 2:57PM The Walmart Foundation, Walmart's charitable arm addressing economic, environmental and social challenges, has bestowed a $2 million three-year grant on the Soil Health Institute's (SHI) U.S. Regenerative Cotton Fund (USRCF), a science-based initiative designed to empower farmers and their advisors with the tools, resources and networks they need to successfully adopt regenerative soil health systems. Regenerative cotton farming restores and rebuilds cotton's natural ecosystems that augment the crop's and the soil's overall health. The donation to the USRCF will help scale activities of the project and expand it to Alabama and South Carolina from its current confines in Texas, Arkansas, Georgia and Mississippi, furthering its aim to eliminate one million metric tons of carbon dioxide equivalent (CO2e) from the atmosphere by 2026. The SHI is a global non-profit that safeguards and enriches the vitality and productivity of soils through scientific research. "Regenerative soil health systems can provide significant benefits for farmers, food supply chains, our climate, and nature," said Kathleen McLaughlin, chief sustainability officer and executive VP at Walmart Inc. and president of the Walmart Foundation. "However, adoption of soil health practices remains low. The USRCF's scientific approach empowers farmers and aligns with the Foundation's work on regenerative agriculture. We are excited to support this ambitious project to support farmers with the resources and tools they need to adopt more regenerative systems and accurately measure the outcomes of these practices for their land and livelihoods." Through the one-year-old USRCF, SHI has established farmer-to-farmer education networks with more than 100 cotton farmers, delivered 12 education programs, sampled soils in over 200 locations to develop soil health and soil carbon targets, interviewed farmers managing 11,000 acres to assess their financial experiences with regenerative systems, delivered initial economic results to growers managing 187,000 acres, and mentored five student interns from Historically Black Colleges and Universities (HBCUs) to train them for leadership positions in U.S. agriculture. "The USRCF is making good progress," said Dr. Cristine Morgan, SHI's chief scientific officer. "The drought conditions sweeping across the Cotton Belt this year only underscore the importance of soil health systems to farmers' livelihoods because they can build drought resilience and increase profitability. We feel fortunate to have the Walmart Foundation's support that will allow us to expand the reach and impact of the USRCF to Alabama and South Carolina." The U.S. Regenerative Cotton Fund was initiated last year with a founding grant from the Ralph Lauren Corporate Foundation. The VF Foundation is a sustaining supporter and Levi Strauss & Co. is a contributing supporter. Participating partners currently include Cotton Incorporated, National Cotton Council, Field to Market, Arkansas Soil Health Alliance, DELTA F.A.R.M. and the University of Georgia. In 2021, the USRCF was selected as an Agriculture Innovation Mission for Climate (AIM for Climate) Innovation Sprint Partner, a joint initiative by the United States and United Arab Emirates to boost investments in climate-smart agriculture. Walmart founded the Walmart Foundation as an internal corporate philanthropic organization in 1982. Together with Walmart, the Foundation generally provides more than $1 billion in cash and in-kind giving annually. Source: Sourcing Journal Aug 30, 2022: BareOrganics Superfoods Grows Assortment at Walmart Stores Nationwide August 30, 2022, 12:45 GMT SCOTTSDALE, UNITED STATES, August 30, 2022 /EINPresswire.com/ -- WR Group, one of the country's leading global wellness companies, is pleased to announce that its BareOrganics collection is evolving its partnership with Walmart with the expansion of several, new organic product offerings now available in over 2,500 stores across the country. "Walmart has been one our most innovative retailer partners from the beginning of our launch, and we strive to have our healthy products accessible to families across the US," says Renee Barch-Niles, EVP at WR Group. "Our mission is to continue to evolve the BareOrganics product collection, enabling Walmart customers to have more options for USDA certified organic, affordable, highly nutritious, health-conscious superfoods." The new BareOrganics products that can be found on Walmart shelves include Irish Sea Moss Powder, Goji Berries, Astragalus Root Powder, Coconut Milk Powder, Banana Powder, Pumpkin Powder and Mushroom Immune Blend Powder. From healthy adaptogens and baking substitutions to protein-packed, gluten free powders for smoothies, there are a multitude of ways to easily incorporate BareOrganics superfoods into your daily nutrition intake. Predicted to be a Holiday Favorite, plan to incorporate the Pumpkin Protein Powder into your coffee, cakes, cookies, breads or even just add to water for a tasty boost of protein that is easy to digest for all members of the family. "As the world's largest retailer, Walmart continues to provide products that resonate with the health-conscious consumer that demands high quality products at an affordable price," says Renee Barch-Niles. "Our functional baking powders, delicious teas and water enhancers have been top sellers at Walmart and our goal is to make BareOrganics a household staple in homes across the US." Select BareOrganics items on shelf range from $6.99 - $24.99. For more information, please visit BareOrganics.com About WR Group: Founded in 2001, WR Group Consumer Health Brands has enriched the lives of consumers around the world and stood as a leader in health and wellness by introducing innovative products and solutions to the marketplace. Their extensive portfolio of brands is distributed throughout the United States and in more than 50 countries worldwide. WR Group is known for its innovative brands in a variety of spaces across multiple health & wellness categories including diet, nutrition, vitamins, whole food powders, liquid botanicals, oral care, beauty, and overall personal wellness categories. Key brands to look for in your favorite retailers include BareOrganics Superfoods, Foligain Natural Hair Regrowth, Oralgen NuPearl Advanced Teeth Whitening and Probiogen Smart Spore Technology Probiotics. These are just a few of the brands that have become trusted by millions of consumers in the wellness space. Source: EIN News Aug 30, 2022: Walmart's 2022 Top Toy List Is Here With the Hottest Toys This Holiday Season Aug. 30, 2022 BENTONVILLE, Ark., Aug. 30, 2022 - 'Tis the season to shop this year's most-wanted toys, and they're all at Walmart at the incredible prices its customers count on. Today, Walmart unveiled its highly anticipated 2022 Top Toy List to help families plan ahead and save on their wish lists this holiday season, featuring more toys than ever for kids of all ages and a wide range of prices. Walmart's 2022 Top Toy List highlights 55 of this holiday season's hottest toys, with more than half the toys on the list under $50 and many under $25. This year's list includes top brands and franchisees like LEGO, Cocomelon, Jurassic World, Hot Wheels, L.O.L. Surprise, Paw Patrol, Barbie, Magic Mixies and more. Walmart is also offering more Rollbacks on toys this year to give customers even deeper savings on top of Walmart's everyday low prices. "We know our customers are shopping early, and finding the lowest prices on toy gifts is a priority for many families this year," said Laura Rush, senior vice president, Electronics, Toys and Seasonal, Walmart U.S. "We're excited to help our customers as they start their holiday shopping by announcing our Top Toy List today and providing them with a fantastic selection of toys in stores and on Walmart.com at low prices only Walmart can deliver." For those families who want to shop now, nearly all of the toys from Walmart's Top Toy List are available to purchase today or can be pre-ordered on Walmart.com. Walmart-exclusive toys make up over half of this year's list, more than any year before. From outdoor toys that keep kids on the go to fan-favorite toys from this year's most popular releases, Walmart's 2022 Top Toy List has all the on-trend toys kids want at prices families can afford.* Source: Walmart Inc. Aug 30, 2022: Where Does Walmart Inc (WMT) Stock Fall in the Discount Stores Field After It Is Down -1.55% This Week? The 44 rating InvestorsObserver gives to Walmart Inc (WMT) stock puts it near the middle of the Discount Stores industry. In addition to scoring higher than 58 percent of stocks in the Discount Stores industry, WMT's 44 overall rating means the stock scores better than 44 percent of all stocks. What do These Ratings Mean? Analyzing stocks can be hard. There are tons of numbers and ratios, and it can be hard to remember what they all mean and what counts as "good" for a given value. InvestorsObserver ranks stocks on eight different metrics. We percentile rank most of our scores to make it easy for investors to understand. A score of 44 means the stock is more attractive than 44 percent of stocks. These rankings allows you to easily compare stocks and view what the strengths and weaknesses are of a given company. This lets you find the stocks with the best short and long term growth prospects in a matter of seconds. The combined score incorporates technical and fundamental analysis in order to give a comprehensive overview of a stocks performance. Investors who then want to focus on analysts rankings or valuations are able to see the separate scores for each section. What's Happening With Walmart Inc Stock Today? Walmart Inc (WMT) stock is trading at $131.92 as of 10:48 AM on Tuesday, Aug 30, a drop of -$0.96, or -0.72% from the previous closing price of $132.88. The stock has traded between $131.85 and $133.65 so far today. Volume today is light. So far 1,102,545 shares have traded compared to average volume of 9,735,469 shares. Source: InvestorsObserver Aug 30, 2022: Top Stock Reports for Microsoft, Amazon.com & Walmart AUG 30, 2022 11:32AM EDT The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Microsoft Corporation (MSFT), Amazon.com, Inc. (AMZN) and Walmart Inc. (WMT). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today. You can see all of today's research reports here >>> Microsoft shares have declined -11.4% over the past year against the Zacks Computer - Software industry's decline of -19.3%. The company's increased spending on Azure enhancements amid stiff competition in the cloud space from Amazon is likely to dent margins. Nevertheless, the company's performance is benefiting from strength in its Azure cloud platform amid accelerated global digital transformation. Teams' user growth is gaining from continuation of remote work and mainstream adoption of hybrid/flexible work model. Recovery in advertising and job market boosted LinkedIn and Search revenues. Solid uptake of new Xbox consoles is aiding the gaming segment performance. The company is witnessing growth in user base of its different applications including Microsoft 365 suite, Dynamics and Power Platform. Microsoft expects Surface revenues to grow in the mid-teens range, driven by strong demand for premium devices. Amazon.com shares have declined -25.2% over the past year against the Zacks Internet - Commerce industry's decline of -33.9%. The company's growing expenses associated with supply-chain constraints and labor supply shortages remain a concern. However, Amazon is gaining on solid Prime momentum owing to ultrafast delivery services and strong content portfolio. Further, strengthening relationship with third-party sellers is a positive. Also, growing momentum across Amazon Music is contributing well. Additionally, strong adoption rate of AWS is aiding the company's cloud dominance. Also, expanding AWS services portfolio is continuously helping Amazon in gaining further momentum among the customers. Further, robust Alexa skills and expanding smart home products portfolio are positives. Additionally, the company's strong global presence and solid momentum among the small and medium businesses remain tailwinds. Walmart shares have declined -8.8% over the past year against the Zacks Retail - Supermarkets industry's decline of -7.4%. The company's consolidated operating income and earnings per share view suggest a decline from the year-ago period figures. It is also encountering cost pressure associated with fuel prices, supply chain and excess inventory. Cost inflation and markdowns hurt its gross margin in the second quarter. However, Walmart has been benefiting from its robust omnichannel operations due to its efforts to enhance both store and online experience. It has been particularly gaining from its efforts to boost delivery services through acquisitions and partnerships. The company's U.S. comp sales continued to benefit from an increased market share in grocery in the second quarter of fiscal 2023, wherein the top line grew year over year. Management raised its net sales view for fiscal 2023. Other noteworthy reports we are featuring today include Chevron Corporation (CVX), Novo Nordisk A/S (NVO), and Norfolk Southern Corporation (NSC). Source: Nasdaq Aug 29, 2022: Movers: Bristol-Myers, Catalent, Etsy, Moderna, Pinduoduo, Walmart Barry Adams Aug 29, 2022 Walmart announced a public offer to acquire remaining shares in South Africa-based retailer. Bristol-Myers said it plans to continue additional trials for its new blood thinner products despite the latest setback. Stocks extended losses after Friday's selloff and energy prices inched higher. Benchmark indexes eased as investors digested Friday's comments from the Federal Reserve chief and prepared for higher rates after the remaining two meetings of the policymakers in the year. Eight-week long market rally from the lows of mid-June was powered by investors hoping economic soft landing and interest rate to even decline next year. The S&P 500 index declined 0.6% to 4,034.10 and the Nasdaq Composite index dropped 1.0% to 12,018.90. Tech stocks led the decliners in a broad selloff for the second day but the energy complex stock advanced after crude oil prices continued to advance on tight demand supply conditions. The natural gas prices in Europe are still running nine times, yes nine-fold, higher to the U.S. prices on the persistent worries of Russian supply in the coming months. Futures of crude oil rose $2.94 to $95.96 a barrel and natural gas advanced 15 cents to $9.55 a British thermal unit. The yield on 10-year Treasury notes inched up to 3.11% and two-year notes rose to 3.41%. In trading on Wall Street, stocks lacked direction in morning trading but sell overwhelmed buy orders. Microsoft, Alphabet, Amazon.com, and Apple declined between 0.5% and 1.3%. Apple Inc is scheduled to release new products at its annual gathering next week. Analysts are anticipating the release of the iPhone versions that meets the demand from price conscious consumers and improvement in battery life. Diamondback Energy, Exxon Mobil, Marathon Oil, Hess Corp, Occidental Petroleum, Halliburton, and Valero Energy rose between 2% and 5%. JB Hunt, Domino's Pizza, and Bristol-Myers Squibb were among the leading decliners with a loss between 3% and 6%. Bristol-Myers Squibb fell 6.5% to $66.85 after the drug maker said the blood thinner product it is developing in partnership with Johnson & Johnson failed to meet certain milestones in its phase 2 trial. Milvexian, the blood thinner, is considered a key compound in the Bristol-Myers strategy to develop products before the expiry of its blockbuster blood thinner, Eliquis. Johnson & Johnson declined 0.5% to $163.50. Despite the setback, both companies in a joint press release said they plan to conduct more advanced tests and pursue additional research and testing. Catalent Inc declined 6.8% to $92.88 after the drug discovery and manufacturing company's annual outlook fell shy of investors expectations. Revenues in the fiscal fourth quarter ending in June increased 10% to $1.3 billion and net earnings rose to $184 million from $167 million a year ago. Diluted earnings per share rose to $1.04 from 98 cents a year ago. For fiscal year 2023, the company guided revenues in the range of $4.975 billion and $5.225 billion and adjusted net net income between $660 million and $730 million. Etsy Inc increased 0.8% to $105.17 and the online platform operator tightened its seller's account and bank account information. Moderna Inc increased 1.2% to $138.43 after Swiss regulators approved the company's latest vaccine that targets the omicron variant. Pinduoduo Inc soared 16.6% to $67.14 after the China-based online commerce platform operator reported better-than-expected quarterly results. Walmart Inc rose 1.4% to $133.49 and the retailer offered to acquire the remaining stake in the South Africa-based Massmart for $378 million. Walmart's offer for the 47% stake of Massmart is 53% higher than Friday's close price. Source: Ticker Aug 29, 2022: In $79 Million Deal, Walmart Offers To Buy Massmart 29 August, 2022 Walmart Inc, owing majority stake in Massmart, has put forth proposal to acquire the remaining shares in the company. This deal is valued at 1.34 billion rand ($78.93 million), as per Massmart's statements. 62 rand have been offered by Walmart for each outstanding Massmart share. Through a 51 per cent stake in 2010, the retailer has acquired majority control of Massmart. The past decade saw Walmart providing increased support across Massmart's businesses. This is because of continued underperformance due to varied reasons which include consumers holding back from purchasing electronics and home goods. In order to fix this, Massmart's management launched a turnaround plan in 2019. This involved selling off non-core assets, removing fresh food from Game stores and cutting costs across the group. However, the turnaround plan has faced many downfalls. COVID-19 pandemic and the 2021 civil unrest resulted in loss of operations and disruptions to the supply chain. "The potential offer, if finalised, will provide Massmart with needed access to ongoing financial and operational support from Walmart to sustain the group's turnaround," Massmart said in a public statement. Source: BW Businessworld Aug 29, 2022: Walmart making big investment in Indiana stores INDIANAPOLIS - The largest retailer in the country - and the biggest employer in Indiana - is making a major investment in some of its Hoosier locations. Walmart (NYSE: WMT) plans to invest more than $75 million to update and remodel 15 stores throughout the state, the company announced Monday. When complete, Walmart says the upgrades will provide expanded shopping options for customers. In an interview on Inside INdiana Business with Gerry Dick, Walmart Regional General Manager Jessica Villanueva said the investment is part of the company's omnichannel growth. "We're growing memberships in Walmart+, and with that brings a lot of benefits to our customers," she said. "So, for a busy mom or that working mom or dad that can't get into our stores, they have the ability to go ahead and shop online and get their products right in front of their doors the same day. So, that's really exciting for us to be able to expand and grow that throughout Indiana." Walmart says the enhancements to the Indiana stores include creating pickup and delivery options. Inside the stores, the company will make upgrades to flooring, fixtures, and signage, as well as installing LED lighting, The company is also planning to modernize bathroom facilities at each store and add or refresh a mother's room to give privacy for nursing mothers. Additionally, plans are set to increase the number of self-checkout lanes and staffed registers. "Our local stores have never been more important to the way we serve customers today and, in the future," said Villanueva. "Nearly ninety percent of the U.S. population lives within ten miles of a Walmart, so whether someone is shopping in-store, online, through mobile or Pick Up, our brick-and-mortar stores play a role in fulfilling those orders." Some of the stores have already celebrated their grand reopening with the completed upgrades. The full list of Indiana stores involved with the investment include: Valparaiso - 2400 Morthland Dr. LaPorte - 333 Boyd Blvd. Hammond - 7850 Cabela Dr. Decatur - 1700 S. 13th St. Connersville - 4200 Western Ave. Greenfield - 1965 N. State St. Boonville - 1115 American Way Jasper - 4040 N. Newton St. Seymour - 1600 E. Tipton St. Madison - 567 Ivy Tech Dr. Tell City - 730 U.S. Highway 66 E Paoli - 735 N Gospel St. New Albany - 2910 Grant Line Rd. Evansville - 2500 N. First Ave. & 3430 Taylor Ave. The company did not specify how many jobs would be added as a result, but a spokesperson says staffing will be monitored as the renovations continue. "Walmart's store remodels bring construction and trade jobs to these local communities," the spokesperson said. "Additionally, Walmart is making sure we are staffed up to take care of our customers as each store goes through their transformation, including extra associates on the floor to help customers navigate the changes easily." Walmart employs more than 46,000 workers at its Supercenter, Neighborhood Market and Sam's Club locations throughout Indiana. Source: Inside INdiana Business Aug 29, 2022: Walmart Stock Could Use A Pullback 2022-08-29 07:01 A funny thing has happened to Walmart (NYSE:WMT) stock over the past two years: nothing. In the last 24 months, Walmart stock actually has declined 6.4%. We've been here before. It's easy to forget, but Walmart struggled during the last decade - at least by its lofty standards. Same-store sales stalled out, rival Amazon.com (NASDAQ:AMZN) was making clear inroads, and even the grocery business appeared stagnant. From the beginning of 2013 to the beginning of 2017, WMT stock gained 1.3% - total. The S&P 500 rose 57% over the same stretch. But then Walmart got its act together, notably on the e-commerce front. WMT stock became a big winner, more than doubling in less than four years. It seems likely that at some point, this period of stagnation, too, will be followed by solid returns. The pressures on Walmart shares and on Walmart profits largely are coming from external sources. As this month's second-quarter earnings shows, the company actually is managing rather well through those pressures, and indeed through a time perhaps unprecedented in the company's 60-year history. The one catch as far as WMT stock goes is that, at least for now, the market still is giving the company credit for that resilience. WMT looks like a solid pick in a turbulent market, but it might be a better choice if that turbulence results in a more attractive entry point. Walmart Hangs In At first blush, neither the results in Walmart's fiscal second quarter nor its outlook for the rest of the year seem particularly inspiring. In Q2, same-store sales increased 6.5% year-over-year - but with inflation running at a similar level, that top-line performance looks relatively unimpressive. Q3 guidance for just a 3% rise - growth that would fall well below current inflation - looks even worse. Walmart's earnings for the quarter did top analyst expectations, and its full-year outlook is better than the company warned it would be a month ahead of the release. But in both cases, a pair of small one-time effects boosted earnings (the effects were kept in the calculation of adjusted earnings), and Walmart still projects an 8% to 10% year-over-year decline in adjusted earnings per share. But in the context of the external environment, that performance actually looks pretty good. Inflation, of course, is a major headwind for U.S. retailers, but it's not the only one. Huge demand in 2021 - thanks to flush consumer balance sheets and still-limited entertainment options outside the home - turned into ballooning inventories in 2022. That, in turn, forced companies like Walmart and Target (NYSE:TGT) to discount heavily simply to get product out the door. Given the effects of inflation and the pandemic response on consumer behavior, a high-single-digit decline in EPS appears rather strong. Target, for instance, likely will see its EPS plunge 40% this year. Many smaller retailers have reversed from strong 2021 profits to reasonably large 2022 losses. And, notably, outside of the inventory problems - mostly in apparel - Walmart still is chugging along. In the grocery sector, the company took incremental market share in Q2, according to the Walmart earnings release. Walmart U.S. eCommerce revenues grew 12%, a rather impressive performance in this retail environment; Amazon's North America business only grew sales 10%. On a three-year basis (in other words, comparing to pre-pandemic levels), Amazon in Q2 almost doubled its revenue in North America, but U.S. Walmart's e-commerce business is up in the range of 130%. Is WMT Stock Too Expensive? There's essentially no evidence that, as a business, Walmart has lost its edge. It's taking share in grocery. It's outperforming Target. It's keeping pace, at least, with Amazon. In the context of owning WMT stock long term, this year's performance could be seen in a quite optimistic light. Given the external environment, it could be much, much worse. As noted, for most retailers, in fact, it is much, much worse. The concern is valuation. That seems perhaps a strange thing to say for a stock that hasn't moved in two years, and trades 17% below its highs. But Walmart's guidance implies adjusted EPS below $6 this year, and a price-to-earnings multiple of around 22x. For Walmart, that's a reasonably big valuation. At the beginning of 2020, for instance, shares traded at 23x FY20 EPS - and that was near the highest level in more than a decade. More generally, a 22x earnings multiple prices in a relatively quick return to growth, and limited impact from further inflation and/or a recessionary environment. That seems a reasonable scenario, certainly. Walmart management noted after Q2 that inflation already had led some higher-income shoppers into its stores. In fiscal 2010, during the worst of the financial crisis, Walmart's U.S. same-store sales declined less than 1%. Inventory will be normalized come the beginning of this year, and again there's no evidence that Walmart's execution or competitive position have weakened. Walmart probably will fight through this patch and come out on the other side. At the same time, however, that's precisely what the market is pricing into the stock, making it difficult to see the current valuation as truly compelling. This is a great business, and in the context of retail valuations, the market is pricing it essentially as such. While that remains the case, WMT stock is interesting. Should investors panic and offer a lower entry point, it's then the stock gets compelling. Source: Investing.com Aug 29, 2022: Decatur Walmart remodeled as part of $75M investment DECATUR, Ind. (WANE) - Walmart in Decatur is one of 15 Indiana locations the retail chain has invested upwards of $75 million in this year, the retail chain announced Monday. The updates are said to help shoppers save time and money, with many of the stores adding options like pickup, delivery, and "express delivery"- which gets shoppers their orders in less than two hours, Walmart said in a release. The investment also accounts for interior and exterior remodeling, along with expanding departments to have a variety of items to choose from. "Our local stores have never been more important to the way we serve customers today and, in the future," said Jessica Villanueva, the regional general manager in east Indiana. "Nearly ninety percent of the U.S. population lives within ten miles of a Walmart, so whether someone is shopping in-store, online, through mobile or Pick Up, our brick-and-mortar stores play a role in fulfilling those orders." Source: WANE 15 Aug 28, 2022: Walmart Inc. - Consensus Indicates Potential 10.8% Upside Charlotte Edwards August 28, 2022 12:20 pm Walmart Inc. with ticker code (WMT) have now 37 analysts covering the stock. The analyst consensus points to a rating of 'Buy'. The range between the high target price and low target price is between 170 and 78 with a mean TP of 150.5. Now with the previous closing price of 135.87 this would indicate that there is a potential upside of 10.8%. The day 50 moving average is 128.5 and the 200 moving average now moves to 138.18. The market capitalisation for the company is $360,735m. Find out more information at: https://www.stock.walmart.com Walmart Inc. engages in the operation of retail, wholesale, and other units worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications. The company offers grocery and consumables, which includes dairy, meat, bakery, deli, produce, dry, chilled or frozen packaged foods, alcoholic and nonalcoholic beverages, floral, snack foods, candy, other grocery items, health and beauty aids, paper goods, laundry and home care, baby care, pet supplies, and other consumable items; and health and wellness products covering pharmacy, over-the-counter drugs and other medical products, and optical and hearing services. It also provides gasoline stations and tobacco; home improvement, outdoor living, gardening, furniture, apparel, jewelry, tools and power equipment, housewares, toys, seasonal items, mattresses, and tire and battery centers; and consumer electronics and accessories, software, video games, office supplies, appliances, and third-party gift cards. In addition, the company offers fuel and financial services and related products, including money orders, prepaid cards, money transfers, and check cashing and bill payment, as well as various types of installment lending. It operates approximately 10,500 stores and various e-commerce websites under 46 banners in 24 countries. The company was formerly known as Wal-Mart Stores and changed its name to Walmart Inc. in February 2018. The company was founded in 1945 and is based in Bentonville, Arkansas. Source: DirectorsTalk Interviews Aug 28, 2022: Weekend Stock Spotlight: Walmart, T-Mobile, Bitcoin And Growing Net Shorts Against S&P 500 Futures August 28, 2022 10:51 AM Benzinga reviews this weekend's top stories covered by leading media outlets, here are the articles investors need to read. "How Water Scarcity Threatens the Global Economy," by Barron's Lauren Foster, looks at how the growing scarcity of water in the U.S. and around the world may soon begin to have significant economic repercussions. In Barron's "T-Mobile Has Toppled Verizon. It's Time to Buy the Stock," Nicholas Jasinski writes that now that T-Mobile US Inc TMUS -2.75% + Free Alerts has become the leading wireless carrier in the country, its stock could see gains as a result. "Investors Ramp Up Bets Against Stock Market as Summer Rally Fizzles," by The Wall Street Journal's Hannah Miao, details the growth of net short positions against S&P 500 futures in the past several months, reaching levels that haven't been seen in two years. In The Wall Street Journal's "Inventory Pileup, Uneasy Shoppers Put Retailers in Jeopardy," Sarah Nassauer writes about the concerns of retailers like Walmart Inc WMT -3.11% + Free Alerts and Best Buy Co Inc BBY -5.18% + Free Alerts as analysts predict the slowest sales growth between November and January in years. "Bitcoin Back Down to Around $20,000 After Jackson Hole Caution," by Bloomberg's Joanna Ossinger, notes that Bitcoin BTC/USD +1.39% + Free Alerts continues to hover around $20,000 after Fed Chair Jerome Powell's speech at the Jackson Hole conference. In Bloomberg's "German Minister Says Gas Storage Filling Up Quicker Than Planned," Iain Rogers writes that Germany's economy minister says gas storage facilities are filling up faster than planned despite concerns about supply from Russia's Nord Stream pipeline. Source: Benzinga Aug 28, 2022: 6 Changes Walmart Is Making Ahead of Fall August 28, 2022 | 6:00 AM America's largest retailer is no stranger to switching things up. Whether from the corporate side or the consumer side, Walmart has revealed a number of changes for shoppers to be aware of before the next shopping trip. Some of these changes could even result in great deals and savings. With the transition from Summer to Fall in full swing, these company-wide changes from Walmart are piling up. We've gathered several changes that the retailer is implementing just in time for the new season. Keep looking to discover which changes stand out! This Is Why Millennials Making 6 Figures Still Feel Broke RELATED: Walmart Is Pulling These Two Grocery Items Off Shelves From Coast to Coast 1 More Electric Delivery Vans Walmart Electric Delivery Vehicle Walmart is ramping up delivery efforts after purchasing a fleet of Canoo Lifestyle Delivery Vehicles (LDVs). Walmart agreed to purchase at least 4,500 LDVs with the option to order up to 10,000 LDVs later on. So far the retailer has kicked off the testing stage in the Dallas Fort Worth area for its InHome delivery service, according to InsideEVs. Canoo's official Twitter page unveiled its newest line of delivery cars while displaying its unique rounded design. Canoo's Chairman & CEO Tony Aquila highlighted the capabilities of the vehicles, including "refrigerated items, groceries and general merchandise - and do it efficiently, emission free." Eat this, not that Sign up for our newsletter! 2 No More DoorDash Delivery Walmart online grocery pickup Delivery service DoorDash is officially cutting ties with the retailer after a four-year partnership. Starting in September, DoorDash is ending the collaboration with Walmart due to it being "no longer mutually beneficial". Business Insider also notes that Walmart is preparing to expand its in-house efforts after acquiring Delivery Drivers Inc. (DDI), a third-party independent contractor that supports Walmart's delivery service Spark. DoorDash also has its sights on big expansion, announcing a collaboration with Meta through Facebook Marketplace. According to tech news site TechCrunch, The effort includes DoorDash drivers picking up and delivering items from the platform to customers. 3 Changes in Inventory and Sales walmart refrigerated food section There's no shortage of merchandise as stores like Walmart and Target face a mountain of extra products in stores. But back in June, Walmart president and CEO Doug McMillon said that the company is working to reduce inventory. Employees saw the surplus firsthand, as many of them notice backrooms overflowing, and items are automatically being reordered when there's still plenty left in stock. The retailer even canceled billions of dollars in orders to level out the inventory. The move comes after Walmart experienced an improvement in revenue gains and a drop in operating income. For shoppers, this could mean more in-store sales and deals on products. 4 Increased Member Perks walmart online Streaming while shopping is a new reality for Walmart+ members, as the platform recently announced that shoppers who have a membership will also receive a Paramount+ Essential Plan at no added cost. A Walmart+ membership costs $12.95 per month or $98 annually and comes with free one-day shipping and grocery delivery. This streaming perk will become available to members starting in September. Walmart+ is also introducing yet another member incentive with its rewards program, where shoppers can earn rewards through the app or on the store's website. Members can select the "Add Reward" feature on eligible items to accumulate rewards that could lead to savings once redeemed. 5 A PS5 Restock The PlayStation fandom remains strong as shoppers continue the search to get their hands on the PS5 console. Good news for Walmart+ members: they have access to the PS5 Horizon Forbidden West(TradeMark) Bundle that's in stock. Along with the PS5 itself, the bundle includes a controller and the popular Horizon Forbidden West game. CNN reported that the bundle was listed for $549. But only a day after the sale went live, the price on Walmart's website is over $700. It's unclear whether this offer is exclusive to Walmart+ members or available for purchase to the general public. 6 A New Pioneer Woman Fall Collection Walmart has teamed up yet again with the home & kitchen line The Pioneer Woman, but this time, the face of the company Ree Drummond is gearing up to release a new line of clothing as part of Drummond's newest fall collection. The clothing line just launched and can only be found at Walmart. The Pioneer Woman website calls the new line "her best collection yet." Drummond announced the news via Instagram while modeling a sample of items from the collection that includes blouses and cardigans. In response to the post, Walmart commented that it "can't wait for everyone to fall in love with this new collection!" Source: Eat This, Not That Aug 28, 2022: Walmart proposes to increase stake in South Africa's Massmart Aug 29, 2022 01:26AM ET JOHANNESBURG (Reuters) - U.S Walmart (NYSE:WMT) Inc, which owns a majority stake in South Africa's Massmart, has proposed to buy the remaining shares in the retailer at 62 rand ($3.65) each, Massmart said on Monday as its half-year loss widened. If the offer is made and implemented, it would result in the delisting of Massmart, Massmart said. ($1 = 16.9872 rand) Source: Investing.com Aug 28, 2022: Your Call to Bonobos Might Not Be Answered by the Next Available Agent Aug. 28, 2022 10:00 am ET When Bonobos was struggling with widespread shipping problems this past spring, the people dealing with the barrage of angry customer inquiries weren't typical agents in a call center. They were Bonobos workers inside the company's retail stores. The menswear company-a subsidiary of Walmart Inc WMT -3.14%▼. that started out as an online brand and has since opened dozens of retail shops-has been using its store workers, which it calls "guides," to answer many online customer chats. It is an unusual hybrid approach to managing customer service, as companies from airlines to retailers have confronted a basic challenge: having enough staff to answer inquiries and assist customers, especially during the pandemic. Even before the pandemic disrupted workplaces, many companies had digitized basic customer-service functions, such as rebooking flights and processing online returns. Others outsourced the tasks to overseas call centers. Some experts say they see merit in Bonobos's hybrid approach, which seeks to spread inquiries among the people most familiar with its products. Bonobos tells employees that the in-store experience "always comes first," and that managing online chats shouldn't come at the expense of helping an in-shop customer, according to a document reviewed by The Wall Street Journal. It also says employees should only be using the chat in stores during "down time and when there is at least one other guide present." David Meir Sasson, Bonobos operations and finance chief, said the policy started in 2019 with a pilot-an idea suggested by an employee-and that all of its retail shops now have it in place. Mr. Sasson said since 2021, about a fifth of customer chats involve questions about style, such as clothing fit, and the company felt its in-store guides were best equipped to respond. Bonobos's nonstore teams typically answer questions focused on shipping and payment. "It has been a positive shift," Mr. Sasson said. Guides get to broaden their skill set and have more "opportunity to interact with their customer," he said. Bonobos, which has about 330 guides in its stores and 150 corporate staff, has the same number of nonretail employees manning customer inquiries as it did before the pandemic, Mr. Sasson said. Some Bonobos employees said the policy works better in theory than reality. Several said they feel inclined to continue an online chat when customers enter the store, and juggling the two can be stressful. They also said it can be difficult to manage all the angry online messages. "One time I had 15 emails and it was all people that were like, pretty much, 'I hate you,'" said a former Bonobos assistant manager, who asked to stop handling online chats. It was difficult to stay positive and do the best work "when I'm delivering bad news all day, every day," this person said. Source: Wall Street Journal Aug 28, 2022: MASSMART HOLDINGS LIMITED - Potential Offer By Walmart To Acquire All The Outstanding Shares In Massmart That It Does Not Already Own Potential Offer By Walmart To Acquire All The Outstanding Shares In Massmart That It Does Not Already Own MASSMART HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1940/014066/06) JSE Ordinary Share code: MSM ISIN: ZAE000029534 ('Massmart') WALMART INC. (ncorporated in the State of Delaware, United States of America) Traded on the New York Stock Exchange under the symbol 'WMT' (acting through its indirect wholly-owned subsidiary Main Street 830 Proprietary Limited) (Registration number 2010/016839/07) ('Walmart') DETAILED CAUTIONARY ANNOUNCEMENT REGARDING A POTENTIAL OFFER BY WALMART TO ACQUIRE ALL THE OUTSTANDING SHARES IN MASSMART THAT IT DOES NOT ALREADY OWN, EXCLUDING TREASURY SHARES Holders of Massmart ordinary shares ('Massmart Shareholders') are hereby advised that the Massmart board of directors ('Massmart Board') and Walmart have reached in principle agreement regarding the terms and conditions of a potential offer by Walmart to acquire all of the issued ordinary shares in Massmart ('Ordinary Shares'), other than those Ordinary Shares already indirectly held by Walmart, or any treasury shareholding subsidiary of Massmart, pursuant to a scheme of arrangement ('Scheme') or a standby general offer ('Potential Offer'). If the Potential Offer is made and implemented, it would result in the delisting of all the Ordinary Shares from the main board of the securities exchange operated by the JSE Limited ('JSE'). The Massmart Board has constituted an independent board ('Massmart Independent Board') comprising Mr Kuseni Dlamini, Ms Olufunke Ighodaro and Ms Lindiwe Mthimunye to review the terms and conditions of the Potential Offer. The Massmart Independent Board has appointed PricewaterhouseCoopers Corporate Finance Proprietary Limited as an independent expert ('Independent Expert') to consider whether the Potential Offer is fair and reasonable to Massmart Shareholders. Massmart Shareholders are advised that this announcement does not constitute a firm intention to make an offer in terms of the Companies Regulations, 2011 and Companies Act No. 71 of 2008 ('Firm Offer'). Salient terms and preliminary recommendation The salient terms of the Potential Offer include: - a consideration of ZAR62 in cash for each Ordinary Share held by eligible Massmart Shareholders. This represents a premium of 53% to the closing share price, a 68.7% premium to the 30-day volume weighted average price and a 62.4% premium to the 90-day volume weighted average price as at 26 August 2022, the day prior to this announcement; - a Scheme to be proposed by the Massmart Board between Massmart and the Massmart Shareholders in terms of which Walmart will acquire all of the remaining Ordinary Shares. In the event that the Scheme does not become operative for whatever reason, a standby conditional general offer (which would run concurrently with the Scheme) would be implemented for the same consideration; - a restructure of the 2013 Massmart employee share plan; - the delisting of Massmart pursuant to the implementation of the Scheme or the standby general offer; - the receipt of requisite regulatory approvals from amongst others the Takeover Regulation Panel ('TRP'), the South African Reserve Bank and the JSE; and - other conditions precedent typical of a potential transaction of this nature. The Independent Expert has considered the Potential Offer and issued a preliminary report that the terms and conditions are fair and reasonable. The Massmart Independent Board, taking into account the preliminary report of the Independent Expert, is unanimously of the preliminary view that the terms and conditions of the Potential Offer are fair and reasonable and intends to recommend to the Massmart Board to propose the Scheme and support the standby general offer. Rationale for the Potential Offer Massmart released its interim results for the period ended 26 June 2022 today. The results reflect ongoing underperformance and the significant headwinds faced by each of the group's operating businesses. Walmart acquired control of Massmart in 2010, in what was then a landmark transaction in the South African consumer landscape. Over the past decade, however, Walmart has had to provide increasing levels of support across Massmart's businesses. This support has deepened substantially in the period since the outbreak of Covid-19 in 2020. During the mandatory national lockdowns in 2020, Walmart injected a ZAR4 billion facility into Massmart to shore up the group's liquidity. Walmart subsequently agreed to restructure half of this facility as equity in terms of International Financial Reporting Standards to shore up the solvency of the Massmart group. The management led turnaround strategy launched in 2019 has faced many headwinds, primarily Covid- 19 but also the civil unrest in 2021 which resulted in a loss of operations and disruptions to supply chain on certain key inventory lines, flooding experienced in parts of the country, weak consumer demand for general merchandise and an increasingly competitive operating environment. Despite the difficult trading environment, Massmart management has continued to drive the turnaround plan. The ongoing divestiture of non-core assets, although crucial to the long-term strategy of Massmart, will have a negative impact on the profit and loss of Massmart in the short term and will require additional capital investment into the business. In addition, the implementation of the Massmart's business plan includes, inter alia, the ongoing development of its e-commerce strategy, which will require further intervention operationally and significant additional financial investment. The Potential Offer will enable Walmart to continue its overweight support as a long term shareholder and allow eligible Massmart Shareholders the opportunity to realise value now. Cautionary announcement Walmart and Massmart have begun engaging Massmart Shareholders regarding the Potential Offer. To date, support has been received with respect to approximately 11.3% of the Ordinary Shares representing approximately 24.6% of the outstanding Ordinary Shares. In addition, given the significant churn in Massmart's shareholder register, Massmart Shareholders with whom Walmart and Massmart have been unable to engage with to date, will now have the opportunity to consider the Potential Offer. The making of a Firm Offer is subject to the execution of the transaction documentation, final approvals by the Massmart Board and Walmart and the approval of the Firm Offer by the TRP. Massmart Shareholders are advised that whilst the discussions between Walmart and Massmart are at an advanced stage there is no certainty that a Firm Offer will ultimately be made. Accordingly, Massmart Shareholders are advised to exercise caution when dealing in the Massmart's securities until a further announcement in this regard is made. Responsibility statements The Massmart Board and Massmart Independent Board collectively and individually accept responsibility for the information contained in this announcement and certify that, to the best of their knowledge and belief, the information contained in this announcement relating to Massmart is true and this announcement does not omit anything that is likely to affect the importance of such information. Walmart accepts responsibility for the information contained in this announcement and certifies that, to the best of its knowledge and belief, the information contained in this announcement relating to Walmart is true and this announcement does not omit anything that is likely to affect the importance of such information. Source: Moneyweb Aug 28, 2022: Walmart, Sam's Club recycling packaging When pet adoptions soared in the wake of COVID-19, there was an increased demand for pet food, resulting in a large volume of pet food packaging waste. According to the Pet Sustainability Coalition, 300 million pounds of pet food and treat bags are generated in the United States every year and over 99% of those bags are not recycled. Walmart Inc., in collaboration with international recycling leader, TerraCycle, is doing something to reduce these numbers. "Pet food packaging is an often overlooked waste stream," said Tom Szaky, founder and CEO of TerraCycle. " Most are not aware that pet food packaging usually consists of multiple materials, in most cases aluminum and plastic, which excludes it from curbside recycling. That's why this waste stream was included in the Walmart Hub Recycling Program - to offer pet parents an easy way to provide the animals in their lives the best nutritionally, without the guilt over the waste the food packaging produces." Through the Walmart Hub Recycling Program, consumers are invited to bring all brands of pet food packaging to the participating retail locations in Springdale, Arkansas, and Broken Arrow Walmart Supercenters, as well as at the Fayetteville, Arkansas, Sam's Club. In addition to pet food packaging, the Walmart Hubs are collecting waste streams including skincare and beauty products, soft plastic food packaging, oral care products, food and drink pouches, home and garden supplies packaging, coffee capsules, water filters, plastic bottles, clothing, pet food packaging, plastic bags and shipping materials, plastic toys, ink cartridges, and office supplies To participate, shoppers can bring their accepted waste that is not curbside recyclable to the designated recycling hubs positioned outside the participating Walmart Supercenters and Sam's Club locations. When the hub station is full, TerraCycle will pick up and transport the waste to regional material recovery facilities where the waste will be sorted by material type and recycled into raw materials that can be used to make new products, like playgrounds and park benches. For more information participants can visit https://corporate.walmart.com/community-recycling-hub. The Walmart Community Recycling Hub is open to any interested individual, school, office, or community organization. For more information on TerraCycle's recycling programs, visit www.terracycle.com. Source: Tahlequah Daily Press Aug 18, 2022: Walmart Inc. (NYSE: WMT) Shares Could Be 33% Below Their Intrinsic Value Estimate August 18, 2022 In this article we are going to estimate the intrinsic value of Walmart Inc. (NYSE:WMT) by projecting its future cash flows and then discounting them to today's value. The Discounted Cash Flow (DCF) model is the tool we will apply to do this. It may sound complicated, but actually it is quite simple! We generally believe that a company's value is the present value of all of the cash it will generate in the future. However, a DCF is just one valuation metric among many, and it is not without flaws. Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model. View our latest analysis for Walmart Step By Step Through The Calculation We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period. In the first stage we need to estimate the cash flows to the business over the next ten years. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years. Generally we assume that a dollar today is more valuable than a dollar in the future, so we need to discount the sum of these future cash flows to arrive at a present value estimate: Present Value of 10-year Cash Flow (PVCF) = US$148b We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 5-year average of the 10-year government bond yield of 1.9%. We discount the terminal cash flows to today's value at a cost of equity of 5.3%. Terminal Value (TV)= FCF2032 (1 + g) (r - g) = US$24b (1 + 1.9%) (5.3%- 1.9%) = US$716b Present Value of Terminal Value (PVTV)= TV / (1 + r)10= US$716b ( 1 + 5.3%)10= US$426b The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is US$574b. In the final step we divide the equity value by the number of shares outstanding. Relative to the current share price of US$140, the company appears quite good value at a 33% discount to where the stock price trades currently. Valuations are imprecise instruments though, rather like a telescope - move a few degrees and end up in a different galaxy. Do keep this in mind. The Assumptions Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Walmart as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 5.3%, which is based on a levered beta of 0.800. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. Next Steps: Although the valuation of a company is important, it is only one of many factors that you need to assess for a company. DCF models are not the be-all and end-all of investment valuation. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. Can we work out why the company is trading at a discount to intrinsic value? For Walmart, there are three important items you should explore: Risks: Consider for instance, the ever-present spectre of investment risk. We've identified 3 warning signs with Walmart, and understanding them should be part of your investment process. Management:Have insiders been ramping up their shares to take advantage of the market's sentiment for WMT's future outlook? Check out our management and board analysis with insights on CEO compensation and governance factors. Other Solid Businesses: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid business fundamentals to see if there are other companies you may not have considered! Source: Simply Wall St Aug 18, 2022: Walmart and Home Depot Just Put a Nail In the Bear Market AUG 18, 2022 09:36AM EDT When Walmart (NYSE: WMT) cut its guidance three weeks ago, it sent shudders through the market. The S&P 500 fell more than 1%, and investors saw it as the latest sign that the economy was slumping into a recession. After all, Walmart controls around $500 billion in annual spending in the U.S., or nearly 10% of all non-automotive retail dollars. More than any other company, Walmart has its finger on the pulse of the economy, and in addition to being the biggest retailer in the world, it's also the world's biggest private employer, giving it outsize influence over the labor market as well. Now, just three weeks later, Walmart is painting a much different picture. The retail giant posted better-than-expected results in its second-quarter earnings report. Comparable sales came in at 6.5%, ahead of guidance at around 6%, and its operating margin was 4.5%, compared to its earlier forecast of 4.2%. Operating income also declined just 7%, compared to the forecast three weeks ago of 13% to 14%. Walmart also raised full-year guidance after second-quarter results came in better than expected. It now sees a decline in adjusted earnings per share of 9% to 11%, compared to a previous range of 11% to 13%. On the earnings call, management explained that "strong sales at the end of the month (July) with good flow-through to the bottom line and lower-than-expected supply chain cost." That's a sign that the economy and Walmart's prospects have brightened in just the last three weeks. Though its guidance still calls for a profit decline in the second half of the year, that's more about markdowns to reduce excessive inventory than headwinds in the economy. In fact, those markdowns should help fuel the consumer recovery and lower inflation. Home Depot ain't too shabby either Walmart isn't the only indicator worth watching in the retail sector. Home Depot (NYSE: HD) is the biggest home improvement retailer in the U.S., representing a significant percentage of consumer discretionary spending, or about $130 billion in annual U.S. revenue. After two blowout years during the pandemic, Home Depot expected sales growth to moderate in 2022, but the second quarter delivered another round of strong results. Comparable sales rose 5.8% in the quarter, or 5.4% in the U.S., driving revenue up 6.5% to $43.8 billion, ahead of estimates at $43.36 billion. That was also better than the company's full-year comparable sales guidance at 3%. On the bottom line, earnings per share increased 11% to $5.05, ahead of the consensus at $4.95. Even more encouraging was that the company saw positive comps in all regions of the U.S., and same-store sales jumped 7.1% in July, showing the business is accelerating into the third quarter. What it means for investors Home Depot and Walmart both posted solid gains on the reports, up 4% and 5% respectively Tuesday, but the market mostly shrugged off the message for the broader economy, as the S&P 500 increased just 0.2%. Investors should also remember that the reports from two of the U.S.'s biggest retailers come as other economic data shows the economy seems to be turning the corner away from a potential recession. The U.S. economy added more than half a million jobs last month. Unemployment is near record lows at 3.5%. Inflation is starting to ease, and oil prices have already come down substantially, which is a boon to both consumers and businesses that have been absorbing higher-than-normal fuel prices. Aside from the inventory gluts that are leading to markdowns, both retailers look to be in solid shape for the second half of the year, and the strong comparable sales growth at both brands indicates that consumers are as well. Source: Nasdaq Aug 18, 2022: Walmart sees private brand growth surge in second quarter 08.18.2022 BENTONVILLE, ARK. - The impact of the current inflationary environment on consumers is embedded in Walmart Inc.'s second-quarter results. Strong food sales supported a 1% growth in quarterly transactions while average tickets rose 5.5%, according to the company. Notably, Walmart's customer base in the United States grew during the period. "In the Walmart US business, we have seen mid- to higher-income customers come to Walmart looking for value," said C. Douglas McMillon, president and chief executive officer, during an Aug. 16 conference call to discuss second-quarter results. "As you would expect, food and consumables, in particular, are places where they're looking to save some money. That's not a total surprise. I think the strength of it is encouraging." John David Rainey, chief financial officer, said consumers searching for value manifested in a variety of ways. "As an example, instead of deli meats at higher price points, customers are increasing purchases of hot dogs as well as canned tuna or chicken," he said. "Private brand penetration has also inflected higher. And in the food category, specifically the private brand growth rate doubled compared to Q1 levels. We'll continue to manage pricing for customers in a way that preserves our price gaps and allows us to earn market share profitably." For the second quarter ended July 31, Walmart's net income rose 20% to $5.2 billion, equal to $1.88 per share on the common stock, and up from $4.3 billion, or $1.53 per share, the year before. Quarterly sales rose 8% to $151.2 billion. "The second quarter finished stronger than we had anticipated," Mr. McMillon said. He added that while inflation remains high, most of Walmart's markets are growing comps ahead of inflation. Walmart US sales were $105 billion, up 7% when compared with the second quarter of the previous year. The business unit's operating income fell 7% to $5.7 billion. "Food sales were especially strong with mid-teens growth while general merchandise sales were soft, particularly in electronics, apparel and home," Mr. Rainey said. For the year, Walmart said it still expects consolidated net sales growth to be approximately 4.5%. The company also updated its operating income outlook, now saying it expects it to decline 9% to 11% versus the previous outlook that it would decline 11% to 13%. The improvement reflects a better-than-expected performance during the second quarter, the company said. "I think what you should take away from Q3 and Q4 guidance is that we're expecting the environment to look a lot like Q2," Mr. McMillon said. Source: Food Business News Aug 17, 2022: Nutritional Growth Solutions readies to launch in 400+ Walmart stores Nutritional Growth Solutions Ltd (ASX:NGS) non-executive chair David Fenlon joins Proactive after the ASX-lister inked a pivotal agreement to stock its Healthy Heights(Registered) KidzProtein range in more than 400 Walmart stores. Fenlon says NGS' latest foray into the US market is the next step in its North American retail expansion, which includes distribution through United National Foods Inc and a suite of online traders. Nutritional Growth also entered a trading halt for a capital raise today, which Fenlon says will support the business as it pursues new retail streams. Source: By Proactive Investors Aug 17, 2022: WALMART INC. : Other Events (form 8-K) 08/17/2022 | 10:32pm BST On August 17, 2022, Walmart Inc. (the "Company") was informed that John Furner, Executive Vice President, President and Chief Executive Officer, Walmart U.S., entered into a stock trading plan designed to comply with Rule 10b5-1 of the Securities and Exchange Act of 1934, as amended (the "Plan"). Rule 10b5-1 trading plans permit individuals who are not in possession of material non-public information to adopt a written pre-arranged plan for transactions in securities under specified conditions and for specified periods of time. Mr. Furner's Plan is part of an individual long-term asset diversification, tax, and financial planning strategy, and is in accordance with the Company's Insider Trading Policy. Under the terms of the Plan, Mr. Furner will have no discretion or control over the timing or effectuation of any transactions in Company securities pursuant to the Plan. Under the terms of the Plan, Mr. Furner would execute one scheduled sale transaction on a specified date each month beginning September 2022 through April 2023. Under the Plan, Mr. Furner is scheduled to sell 4,375 shares each month. The maximum aggregate number of shares to be sold under the Plan is 35,000. Mr. Furner continues to be subject to the Company's stock ownership guidelines, under which he is required to hold Company stock equal in value to at least five times his base salary. Upon the conclusion of each monthly sale transaction under the Plan, Mr. Furner will continue to satisfy the requirements of the Company's stock ownership guidelines. Any transactions under the Plan will be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission to the extent required by law. Except as required by law, the Company does not undertake to report other Rule 10b5-1 trading plans that may be adopted by any officers, directors, or other shareholders in the future or to report any modifications or terminations of any publicly announced trading plan. Source: MarketScreener Aug 17, 2022: Walmart Exceeds Priority Chemical Reduction Targets 17 Aug 2022 Executive Summary Walmart Inc., which aimed for a 10% reduction in use of priority chemicals in beauty, personal care and household cleaning products sold in stores by 2022, is years ahead of its goal. Source: HBW Insight Aug 17, 2022: Charlotte-based coffee roasters now selling products in Walmart stores CHARLOTTE, N.C. - Charlotte-based Coffee Roaster Pure Intentions Coffee announced a new retail partnership with Walmart across 37 North and South Carolina and 31 Georgia locations. The two blends are now available (in whole bean and ground form) at participating Walmart stores: Porchlight Medium Roast: a smooth, easy drinking medium body coffee that's just rich enough; Pure intentions' best-selling coffee. Twilight Dark Roast: a full-bodied rich and robust coffee that finishes smooth; all the flavor with no bitterness. Source: WCNC Aug 17, 2022: Growing the Spark Driver Platform Now and in the Future Aug. 17, 2022 We started a journey four years ago to bring even more convenience to our customers by delivering groceries and essentials directly to their doors. To offer this service to all customers with speed, we needed a delivery network that could reach rural and suburban areas. So we launched the Spark Driver platform. Fast forward to today. We now have thousands of independent contractors who choose to drive on the Spark Driver platform, making it the largest delivery provider for Walmart. Today, nearly three-quarters of delivery orders have been fulfilled by drivers on the Spark Driver platform-reaching 84% of U.S. households. Deliveries from our stores make up a large portion of this growth, but it doesn't stop there. Drivers on the Spark Driver platform also fulfill orders for Walmart GoLocal, our white label, delivery-as-a-service business. The Spark Driver platform enables us to serve Walmart GoLocal clients-from large enterprises to small- and medium-sized businesses-and help them reach their customers with fast, reliable and affordable delivery. The combination of these options is great for drivers, too. In fact, they rank quality of support for drivers and our shop and delivery experience highest in our satisfaction surveys. More broadly, drivers on the Spark Driver platform have more: Flexibility: Drivers in all 50 states enjoy the freedom of deciding when, where and how frequently to perform deliveries. They can choose the types of trips they want to accept, including delivery, shopping and delivery or Walmart GoLocal. And, with 7,000 pickup points between Walmart stores and Walmart GoLocal clients, drivers can deliver everything from groceries, clothing and apparel to home improvement products and floral arrangements. Opportunity: Drivers are paid competitively, with earnings calculated on multiple factors including distance, size of delivery and extras. Earnings don't stop when the delivery is complete. Drivers also have the opportunity for incentive earnings through the Spark Driver Bonus Program and referrals. Additionally, drivers on the Spark Driver platform always keep 100% of their tips. Reliability: People choose the Spark Driver platform in large part because of its reliable demand for deliveries through stores and Walmart GoLocal. Thanks to this, our customers can rely on us to save them time with convenient pickup and delivery with no added markup on items, making Walmart a destination for customers and drivers alike. Source: Walmart Inc. Aug 17, 2022: Walmart Inc. (WMT) Q2 2023 Earnings Call Transcript August 17, 2022 Walmart Inc. (NYSE: WMT) Q2 2023 earnings call dated Aug. 16, 2022 Corporate Participants: Daniel Binder - Senior Vice President - Investor Relations Doug McMillon - President and Chief Executive Officer John David Rainey - Executive Vice President and Chief Financial Officer Kathryn McLay - President and Chief Executive Officer - Sam's Club Judith McKenna - President and Chief Executive Officer - Walmart International John Furner - President and Chief Executive Officer - Walmart U.S. Analysts: Bob Drbul - Guggenheim Securities - Analyst Kate McShane - Goldman Sachs - Analyst Peter Benedict - Baird - Analyst Steph Wissink - Jefferies - Analyst Michael Lasser - UBS - Analyst Edward Yruma - Piper Sandler - Analyst Kelly Bania - BMO Capital Markets - Analyst Simeon Gutman - Morgan Stanley - Analyst Robby Ohmes - Bank of America Merrill Lynch - Analyst Rupesh Parikh - Oppenheimer - Analyst Joe Feldman - Telsey Advisory Group - Analyst Chuck Grom - Gordon Haskett - Analyst Ben Bienvenu - Stephens - Analyst Presentation: Operator Greetings, welcome to the Walmart Fiscal Year 2023 Second Quarter Earnings Call. [Operator Instructions] Please note this conference is being recorded. At this time, I'll turn the conference over to Dan Binder, Senior Vice President, Investor Relations. Please note this conference is being recorded. At this time, I'll turn the conference over to Dan Binder, Senior Vice President, Investor Relations. Dan, you may begin. Daniel Binder - Senior Vice President - Investor Relations Thank you, Rob. Good morning, and welcome to Walmart's second quarter fiscal 2023 earnings call. I'm joined by members of our executive team including Doug McMillon, Walmart's President and CEO; John David Rainey, Executive Vice President and Chief Financial Officer; John Furner, President and CEO of Walmart U.S.; Judith McKenna, President and CEO of Walmart International; and Kath McLay, President and CEO of Sam's Club. In a few moments, Doug and John David will provide you an update on the business and discuss second quarter results, that will be followed by our question-and-answer session. Before I turn the call over to Doug, let me remind you that today's call is being recorded and will include forward-looking statements. These statements are subject to risks and uncertainties that could cause actual results to differ materially from these statements. These risks and uncertainties include, but are not limited to the factors identified in our filings with the SEC. Please review our press release and accompanying slide presentation for a cautionary statement regarding forward-looking statements, as well as our entire safe harbor statement and non-GAAP reconciliations on our website at stock.walmart.com. It's now my pleasure to turn the call over to Doug McMillon. Doug McMillon - President and Chief Executive Officer Good morning, and thanks for joining us. A few weeks ago we updated you on our expectations for how we would perform in Q2 and for the year. The second quarter finished stronger than we had anticipated, and John David will touch on that in a moment and provide more detail for the back half of the year. Our sales were well ahead of plan with inflation lifting our average transaction size, but we know that the amount and persistence of inflation is negatively affecting many families, from the U.S. to Mexico to Canada to Chile, they're prioritizing how they spend their money. We are Pleased to see more families from a variety of income levels choose us, as they look for value. Our purpose is to save people money and help them live better and that's especially important right now. After the first quarter, we shared how the environment had changed. The cost of food and fuel, the heavier mix of sales in food and consumables and excess inventory in general merchandise categories were among the most challenging items for us at the time. As we move through Q2, food inflation continue to tick up, and we continue to see a heavier mix of sales in food and consumables in many of our markets, and that put pressure on margins overall. Food comps in the U.S. were up mid-teens for the quarter, with units in food slightly negative and about flat exiting the quarter even with double-digit inflation. Another weighed on margins has been the number of markdowns we've taken. Starting back in March, we knew we needed to act quickly and aggressively in some categories, and we have, we made good progress to reduce inventory levels, where we focused and taken markdowns. The aggressive approach we took to move through apparel in particular, put financial pressure on us, but it helped relieve pressure on our stores and through our supply chain. We're making good progress to reduce costs. We've reduced the number of shipping containers in our system, for example, by more than half from the Q1 level and are now much closer to our historical averages. We're also managing pricing to reflect our fully landed cost. The merchants are adjusting by category to reflect where we expect demand to be. We had our U.S. store manager meeting last week and amongst other topics we shared examples of items, where we're holding prices down or rolling them back. Those tend to be opening price point, private brand, food and consumables items. We want to help families put meals on the table with great value, and our other private brands to relieve the pressure they're feeling. The quality, value and convenience we offer makes Walmart a smart choice and we're seeing more middle and higher income shoppers choose us. As I've been in U.S. stores recently, I'm pleased how we've executed back-to-school. As we finish it off in some markets, we've transitioned to back-to-college in the appropriate stores with items like mini refrigerators, floor-length mirrors and futons. In July, I got to visit our associates in India. After visits to Flipkart, Myntra and PhonePe, a Flipkart fulfillment center and a Corona to see how they're using PhonePe. I left even more excited about what's happening in these businesses and what's to come. Having visited several of our international markets this year, I'm pleased by how connected we are now and how, so much of what we're building is common across markets, as we scale marketplace businesses and fulfillment, advertising and financial services and take steps to make a bigger difference in healthcare. As I look ahead, I expect a strong finish to the back-to-school season and we will quickly transition to the holidays. Our fall and holiday products look great. There's a lot of newness, and we've got a strong position in opening price points across categories, from Halloween to Christmas, to Flipkart's Big Billion Days, we will be ready. We'll have a cleaner inventory position, and we'll have a strong seasonal presence. We expect inflation to continue to influence the choices that families make and we're adjusting to that reality, so we can help them more. Regardless of the inflation level, and as we work through the places we have too much inventory we continue to make progress on our strategy. We are becoming more digital, even more relevant as an omnichannel retailer and the related businesses like fulfillment and advertising continue to grow. We are building a different business, and we're making progress. Let's move on to our operating segments. I'll start with Walmart U.S. The strong comps we see in food and consumables are leading to market share gains. Pickup and delivery are strong. Growth is improving on Walmart.com including the marketplace and more people are choosing to be a Walmart Plus member. We are step up to in-home. Walmart Plus is an important component of our plan. We announced the addition of a streaming benefit. Walmart Plus members will receive a Paramount Plus subscription at no additional cost, as part of their Walmart Plus membership in September. The premium streaming service offers a broad content offering with original series, movies, family shows and live sports. We're excited about the coming launch, and we know our members will be too. Beyond membership, the team is also working on getting items to customers faster, while lowering the cost of delivery through a significant increase in the number of orders fulfilled by stores. We've increased this volume by nearly 40% from a year ago. Speed matters whether it's how quickly we get items to customers or how quickly we scale new businesses. Our white label delivery platform service, Walmart GoLocal will celebrate its one year anniversary later this month. Powered by our Spark Driver platform, I'm excited about the growth I've seen so far and the expectations looking ahead, we passed one million deliveries so far with GoLocal. We expect to have about 5,000 pickup locations by year-end and client satisfaction scores are strong. We continue to sign up larger scale customers, and we are making strides on the bigger unlock, which are small and medium-sized businesses. Our technology and expertise will help so many of these businesses grow, while contributing to our operating margins over time. Advertising is also performing well. And Walmart U.S. the Walmart Connect team continues to deliver more value to the suppliers and sellers, who advertise with us. Improvements to search, and our large first party shopper data have led to performance improvements for our advertisers both year-over-year and sequentially. We've seen the number of active advertisers investing with us increase 121% over last year. Even more encouraging, these improvements have supported the overall site experience for our customers by helping them find the right products or discover new ones that are most relevant to them. As you've heard us say before, advertising is a global priority for us. We continue to see strong growth in markets outside the U.S. like India and Mexico. Turning to Sam's Club in the U.S. comp sales were strong again for Q2, up 10% marking the 10th consecutive quarter of double-digit comp growth. Similar to Walmart, gross profit was pressured for the quarter on higher than normal markdown activity to clear through excess inventory. We'll continue to make progress, as we move through Q3 and we'll be in good shape, as we enter the holiday season. We like what we see in terms of membership. Total counts are up about 9% over last year, and the penetration of Plus members continues to climb. Moving on to Walmart International, where we performed well again in Q2, with sales up nearly 10%, including double-digit comps in the three largest markets of Mexico, Canada and China. We're also accelerating our digital businesses, including strong e-commerce growth over the last two years. Mexico is up 31%, Canada 32% and China 152%. We see this growth even as customers choose to do more in-person shopping. It really shows the power of operating across multiple channels. Like the U.S., we see the effects of inflation come through and how people are shopping. In Mexico, we saw all formats performed well, and Bodega was especially strong with comps above the overall WALMEX average. We widened our price gaps for Bodega by 140 basis points in Q2, and we're seeing more customer shopping this format. While inflation remains high, most of our markets are growing comps ahead of inflation. I'm proud that we're helping families access the things they need at more affordable prices. I'll close today by thanking our associates for all they do every day to support our customers and members. I'd also like to welcome John David for his first earnings call with us. And with that, I'll turn it over to him. John David Rainey - Executive Vice President and Chief Financial Officer Thanks, Doug. I'd like to start by thanking our customers, associates and partners for helping us deliver another strong sales quarter. We are moving a lot of volume through our business and I'm proud of how our associate team has responded in serving customers, as we manage through this unique period. We delivered strong top line growth with total constant currency revenue up more than 9% in the second quarter. Sales were strong across all segments particularly in food and consumables. Customers are increasingly choosing Walmart to help them save money, as they deal with broad inflationary pressures. As we navigate the current environment, we know that we're not immune to large macroeconomic shifts. We're facing similar cost pressures that others are seeing related to excess inventory, fuel prices and supply chain, but our business model is structurally sound and our market position is strong. As the year has progressed, we've seen more pronounced consumer shifts and trade down activity. As an example, instead of deli meats at higher price points, customers are increasing purchases of hot dogs, as well as canned tuna or chicken. Private brand penetration has also inflected higher. And in food category, specifically, the private brand growth rate doubled compared to Q1 levels. We'll continue to manage pricing for customers in a way that preserves our price gaps and allows us to earn market share profitably. We've been very focused on managing controllable costs and consequently achieved expense leverage across all three segments in Q2, even though we haven't fully lapped the wage investments implemented last year. During the quarter, we also made progress reducing inventory, managing prices to reflect certain supply chain costs and inflation, and reducing storage costs associated with the backlog of shipping containers. We're encouraged by the initial steps taken by some suppliers to help us reduce product acquisition cost. We've taken similar steps to manage our support and overhead cost too, and we're achieving significant savings in procurement of goods not for resale. In our stores and fulfillment and distribution centers, we've seen labor productivity metrics improved. We are finding efficiencies and reducing expenses, while still focusing on operational excellence. I want to spend a moment discussing inventory. As a backdrop the shifts that we've seen in consumer behavior through the pandemic, shifting from in-store to online along with big swings in the purchase of goods versus services, and then the reversion back to pre-pandemic norms have been sharp and difficult to predict. These trends have been exacerbated by inflationary pressure on the consumer that many of us have not experienced in our lifetime, the effect of which has recently changed consumption patterns in certain categories for us notably, general merchandise. The result of all of this put pressure on our inventory levels that peaked in the last quarter. Importantly, the team has a deep understanding of our inventory levels and content and it made a lot of progress during the last quarter. In stock levels have improved about 250 basis points since Q1 in our grocery business alone despite the heavy sales volumes we're experiencing. We also made progress showing through excess inventory, especially in hardline categories. At the end of Q2, Walmart U.S. inventory growth was 26% versus last year, reflecting over 750 basis points of improvement from Q1 levels. Notably, about 40% of the year-over-year increase relates to inflation. General merchandise inventory growth rates are down more than 15 percentage points from Q1, but still with more work to do. We've cleared most summer seasonal inventory, but we are still focused on reducing exposure to other areas, such as electronics, home and sporting goods. We've also canceled billions of dollars in orders to help align inventory levels with expected demand. We estimate that only about 15% of our total inventory growth in Q2 is still above optimal levels. And our actions in Q3 will allow us to make significant progress toward rationalizing absolute levels and mix, which will enable our stores to be well positioned ahead of the holiday season. Despite the short-term challenges, we're facing this year, we continue to advance our flywheel strategy and diversify our income streams. For example, the global advertising business grew nearly 30% in Q2,led by Walmart Connect and Flipkart, as new advertisers turn to Walmart to deepen relationships with customers. We now have over 240 million items in our U.S. e-commerce assortment and our marketplace seller account has increased about 60% year-over-year. We continue to sign on more customers to our data ventures offering and the number of Walmart Plus membership continues to grow. We are also excited about the build out of automation and technology throughout our business and how it will continue to help drive greater efficiency. Through my first couple of months here, I have been able to get out and visit our stores and see our distribution and fulfillment centers and witness the supply chain automation and technology that we're putting in our stores and centers. One example is the VizPick technology that we've rolled out to our associates across U.S. stores. This tool uses augmented reality to speed the inventory management process enabling associates to get needed product from the backroom to the sales floor more efficiently. This not only saves associate time, but also helps avoid missing sales through side counter out of stocks. It's a win-win. In summary, our business is resilient and with the omni capabilities we built, we are better positioned now than we were in prior periods of economic softness. Now let's get to some additional Q2 financial details. As mentioned previously, each of our segments delivered strong sales growth. Walmart U.S. comp sales accelerated to 6.5% growth, reflecting strong grocery sales and a higher average ticket size. International constant currency sales were up 9.9% with strength in Mexico, Canada and China, while Sam's Club U.S. delivered comps of 10% excluding fuel and tobacco. Consolidated gross margin rate decreased 132 basis points, reflecting increased markdowns and unfavorable mix shifts in our U.S. businesses. Sam's Club gross profit was also negatively affected by a LIFO charge due to higher inflation. On the expense side, selling, general and administrative expenses leveraged 45 basis points helped by higher sales, partially offset by the U.S. wage investments implemented last year. Operating income decreased 6.8% and adjusted EPS was $1.77. Two discrete items positively affected our results, operating income, benefited from a favorable insurance settlement of $173 million during the quarter. Adjusted EPS also benefited from this, as well as a $182 million special dividend from one of our equity investments. Operating cash flow was $9.2 billion, reflecting lower operating income, higher inventory amounts due in part to inflation and the timing of certain payments. During the quarter, we returned $4.9 billion to shareholders through dividend and share repurchase. Through Q2, we are ahead of pace on our original share repurchase plan for this year and now expect to repurchase $10 billion to $11 billion in shares for fiscal year 2023. Now let's discuss segment results. Walmart U.S. comp sales momentum continued with growth excluding fuel of 11.7% on a two-year stack. Food sales were especially strong with mid-teens growth, while general merchandise sales were soft, particularly in electronics, apparel and home. Transactions increased 1%, while average ticket increased 5.5%. We were pleased to see e-commerce sales growth improved sequentially up 12% year-over-year in Q2 and 18% on a two-year stack. SG&A expenses leveraged 21 basis points, reflecting higher sales and lower COVID cost, partially offset by the wage investments. The team did a nice job pivoting the expense structure, so the scheduling challenges from Q1 did not repeat. Gross margin pressure led to a decline in operating income of about 7%. International had another really good quarter. Sales were strong, up 9.9% in constant currency. Currency headwinds negatively affected reported sales results by about $1 billion. Each of our major markets delivered positive comp sales, with Mexico and China leading the way. E-commerce sales on a constant currency basis grew 15% on top of strong gains last year. Comp sales in Mexico increased nearly 11% with strong growth in stores, as well as e-commerce sales, which grew 18%. The team is doing a good job reinforcing our price message and positioning, as customers manage through this inflationary period. In China, comp sales were up more than 14%, with strong growth in e-commerce sales, which increased 77% in the quarter and more than a 150% on a two-year stack. E-commerce penetration continues to climb in both our Sam's Clubs and hypermarket stores, as customers increasingly choose omni solutions to meet their shopping needs. Canada, comp sales increased more than 10% even as higher levels of inflation are starting to pressure consumer spending in discretionary and general merchandise categories. Flipkart continues to meet our expectations and the team is gearing up for Big Billion Days. I traveled to India last month and was impressed by how the Flipkart and PhonePe teams are innovating for the customer and driving growth. PhonePe continue to see strong growth with annualized TPV of over $830 billion reaching a record level of monthly transactions of about 3.1 billion. International operating income in constant currency increased more than 28% partially attributable to the previously mentioned insurance recovery for prior operational disruptions in Chile. Sam's Club had another strong sales quarter with comp sales up 10% excluding fuel and tobacco, an increase of more than 20% on a two-year stack. Transactions increased 9.8%. E-commerce sales grew 25% with strong contributions from both curbside and ship to home orders. Membership income was up nearly 9% with another record high quarter in overall member counts and continued growth in Plus member penetration. Sam's added more new members in Q2 than any other quarter in recent years benefiting from membership campaigns. Sam's leveraged expenses of 131 basis points, including fuel and 72 basis points, excluding fuel due primarily to higher sales and lower COVID cost, but gross margins were down, as elevated markdowns, supply chain and fulfillment cost and a 70 basis point inflation related LIFO charge pressured profitability. As a result, operating income declined about 35%. Now let's turn to guidance. With the updated financial guidance we released last month, we outlined the pressures that led us to take a more conservative outlook for the current year profitability. Let me take a minute to provide you with more detail. When we provided guidance three months ago, we didn't expect food and fuel inflation to accelerate to the levels that we experienced in Q2. In fact, Walmart U.S. food inflation was up double digits year-over-year, and we saw a nearly 400 basis point step up, as the quarter progressed compared to levels at the end of Q1. The rising cost for essential items and customers re-prioritization of spending led to significant mix shifts in our business. Grocery sales mix increased nearly 300 basis points, whereas general merchandise sales mix decreased more than 350 basis points. This resulted in additional general merchandise markdowns in our U.S. business, particularly in apparel at a time when inventory clearance was already higher than expected in the industry. Higher fuel prices also pressured our supply chain experts. We finished the quarter on a strong note, however, and ahead of our updated Q2 guidance provided last month and the Q3 back-to-school season is off to a solid store. Contributing factors to the better performance included strong sales at the end of the month with good flow through to the bottom line and lower-than-expected supply chain cost. We're taking additional pricing actions in Q3 to improve inventory levels in the back half of the year, and we've built in more conservative category mix assumptions within our guidance. Our sales and profit view reflects trends we've seen year-to-date, as well as the uncertainty around inflation and consumer spending in the coming quarters. We've updated our fiscal year '23 guidance to reflect the better Q2 results versus the guidance we provided in July. We continue to believe the sales and profit guidance we provided at the time for the back half of the year appropriately reflects elevated uncertainty in this environment and is our best view of expected performance. For Q3, we expect net sales growth of about 5% including comp sales growth of about 3% from Walmart U.S. We're expecting operating income to decline 8% to 10% and adjusted EPS to decline 9% to 11%. For fiscal year '23, we expect net sales growth of about 4.5% including comp sales growth of about 4% for Walmart U.S. We expect adjusted operating income and EPS to decline 9% to 11%. Excluding the effect of divestitures, this would translate into net sales growth of 5.5% and a decline in adjusted operating income and EPS of 8% to 10%. Before I close, I'd like to share my perspective that someone that is new to Walmart and meeting many of you for the first time, I'm excited to join the Company at such an opportunistic and transformational time. Certainly retail broadly is being pressured right now, but that shouldn't detract from the incredible opportunity that we have in front of us. It starts with our mission of helping people save money, so they can live better. We do that every day at a scale that is unmatched by helping people be able to buy the things that they want, and they need. This mission permeates our culture and everything that we do. I've joined an exceptional leadership team. Their history of operational excellence, their strategy to drive to win is simply something that I wanted to be a part of. When you combine that with the resources we have and the investments we're making in things like supply chain, automation and improving our e-commerce capabilities and diversifying our portfolio, with higher margin products and services like data and advertising, that will result in more durable earning streams, as they scale. We have the potential to not only be relevant in the next chapter of retail, but help define it. And when we execute on these things, we have the ability to appreciably increase our shareholder value over time. I believe that some of the best days of Walmart are in front of us. I look forward to working with you. And now, we would be happy to take any of your questions. Thank you. Questions and Answers: Operator Thank you. We'll now be conducting a question-and-answer session. [Operator Instructions] Thank you. And our first question is from the line of Bob Drbul with Guggenheim Securities. Please go ahead with your question. Bob Drbul - Guggenheim Securities - Analyst Good morning, and John David, welcome. Congratulations. John David Rainey - Executive Vice President and Chief Financial Officer Thank you. Bob Drbul - Guggenheim Securities - Analyst Maybe two quick questions, if I could. The first one I think Doug, you mentioned that sort of middle and higher income shoppers are choosing Walmart. Just wondering if you can elaborate some more on the trade into Walmart that is allowing you to take market share in grocery? And the second question is just wondering if you could can give us a little bit more flavor on what you're seeing, what you saw sort of with sales late in the quarter and what you've really seen so far early Q3? Thanks. Doug McMillon - President and Chief Executive Officer Yeah. Hi, Bob. This is Doug. I'll kick it off, and then ask John to comment. In the Walmart U.S. business, we have seen mid to higher income customers come to Walmart looking for value. As you would expect food and consumables in particular are places, where they are looking to save some money, that's not a total surprise. I think the strength of it is encouraging. And as it relates to the end of the quarter, there were several things going on. Fuel prices started to move a little bit, back-to-school was strong, and then there's income phenomenon that you pointed to also provided some strength to the last week or so of the last month of the quarter, which is a little different than the pattern that we had seen in the first two months of the quarter. John David Rainey - Executive Vice President and Chief Financial Officer And it was a bit different than in May and June for sure, and it led - it has led to the beginning of Q3 being stronger in places like back-to-school, food and consumables continue their momentum. And I think - I think the [indecipherable] really changed in late Q3, early - sorry late Q2, early Q3 was - traffic count [Phonetic] was a bit stronger than what we've seen in the [Technical Issues] two months. Doug McMillon - President and Chief Executive Officer We were laughing before the call started today about some of the anecdotal stuff that's going on. It won't surprise you that backpacks are strong, for example, but it does surprise us how strong men's flannel is. And we've got a program that's just under $12. I bought two of them personally and it's a great value. And at the same time, some of our clearance price points have gotten really low. We're trying to work through what we would call season to apparel and we've got new stuff selling well. So it's almost like you can point to different areas to kind of make the case for what you want the sales story to be. Operator Thank you. Our next question is from the line of Kate McShane with Goldman Sachs. Please proceed with your question. Kate McShane - Goldman Sachs - Analyst Hi, good morning. Thanks for taking our question. Our question is centered around markdowns, were curious if the level of markdowns that plan to be taken in Q3 will be at a similar level, as what you did for Q2. And it sounds like inventory will be much cleaner by Q4, but it seems like there is still a lot of inventory in the industry and the consumer that might need to be motivated by promotions, given the amount of inflation. How should we think about the markdown environment then in Q4 even in the context of cleaner inventory at Walmart? Doug McMillon - President and Chief Executive Officer Hey Kate, this is Doug. Thanks for the question. I think what we should do is hear from all three segments, as it relates to that, we've made progress, John, why don't you go first, but let's also here from Kath and from Judith. John David Rainey - Executive Vice President and Chief Financial Officer Yeah. Good morning, Kate. I'll start with the second quarter from the end of Q1, again in Q2, there was some definite progress in inventory about 750 basis points of improvement. We view Q2, as being most urgent to clear through the apparel and summer seasonal that we needed out of the way and sold before Q3 really began to arrive. We certainly made progress in apparel. There is more work to be done in inventory in general with a 25% increase and about 40% of that inflation and the remaining - just two things, one, it helps us in terms of in-stock we were out of stock last year, all throughout the year. So we have made improvements on in-stock. I think our results in many categories reflect improvements in available in-stock, but then there is some backlog that we continue to work through it. Q1, we said this would take a couple of quarters to work through. I would just reiterate that, that remains true. And we've - we will continue to leave room to make sure that we manage our inventory levels well and head into position in Q4 in the end of the year, that we would be proud of. Doug McMillon - President and Chief Executive Officer I think the fact that we were so lean last year, combined with how much inflation impact the number has kind of been lost in the story, but it's true that we've got too much inventory and that, that created markdown pressure, particularly in Walmart U.S. apparel. But when we look at the overall inventory, as John David's already commented today, it's not like the vast majority that was - vast majority of it is merchandise that we didn't want. We just were turning goods a year ago and the year before that, frankly, at such a high level that we needed that inventory just to fill side counters and to fill our features. John David Rainey - Executive Vice President and Chief Financial Officer That's right. In 2020, 2021, we would have had record sell-throughs in seasonal categories with very few markdowns at the end of seasons. And so of course, there is some normalization to get back to where we might have been before the pandemic would be in. But again, we still have - we still take some time to work through the remaining excess inventory. Doug McMillon - President and Chief Executive Officer We're repeating ourselves, but the level of and the pace at which inflation changed in the first quarter, and that continued in food and consumables into the second, just caused behavior to flip fast and that caused apparel to be more difficult than what we anticipated, and that's where the dollars markdown pressure came from. Kath, you want to go next? Kathryn McLay - President and Chief Executive Officer - Sam's Club Yeah. I'd probably just say, if I look at our inventory position at the moment, for the last two years, like we talked about, we've had 10 quarters of double-digit comps. For the last two years, we've struggled to stay in front of having enough inventory. And then so we're off a deflated base when you look at what our current position is. We - this year, then, also you have the contraction with inflation. But what we've seen is that we've got really good quality inventory. We're really happy with what the seasonal sets we've got. Halloween looks fantastic. Back-to-school, back-to-college has been good. Tailgating has been great. I think what I would say is in our number in this quarter, a portion of it has been markdowns and a portion of it is actually inventory reserve because we wanted to get in front of it and just make sure that we put aside the money for Q3, so that we can have a really strong Q3 kind of results. So that's how we've addressed markdowns in Q2. Judith McKenna - President and Chief Executive Officer - Walmart International Yeah. Sure. International, we saw some good progress on inventory quarter-on-quarter. Some of that helped by the FX position on that, but underlying and as well. I think as I look at it about 75% of our increase year-on-year is absolutely planned for this [Phonetic]. You've heard that leanness that we had last year is really coming through. And I think that's the theme for everybody. We just didn't have enough inventory at that time. That leaves about 25% of it, which is some GM categories in a couple of markets, specifically, which would be Chile and Canada. But I'm very comfortable with the way that the market have dealt with that. And just as a reminder, for at least, Chile, our quarter end is a month earlier than the enterprise quarter end. So we're already seeing some of that clearance happening for that market. Operator Our next question comes from the line of Peter Benedict with Baird. Please proceed with your question. Peter Benedict - Baird - Analyst Hi, good morning, guys. Thanks for taking the question. Just want to talk a little bit about grocery, the strength there, particularly in food. Can you talk about pricing, how you're managing that? I know units, it looks like they were down for the quarter, but improving to, I guess, flattish as you exited the quarter. Just how are you thinking about pricing relative to units? What's the promotional environment you're seeing within grocery and just how the grocery strength is split in-store versus online and curbside? Thank you. John David Rainey - Executive Vice President and Chief Financial Officer Hey, good morning, Peter. It's John. Let me take your question in parts for just a second here. I mean, first, value is always top of mind when it comes to us in deciding how we want to serve customers. So we'll always lean on the value for the customers above other things. And what we want to do and what we try to do throughout this entire period is go up as late as possible. We certainly have been passing prices through when we see things like landed cost of goods going up, those have to be passed through. We're managing our supply costs as well as we can. Units did strengthen throughout the quarter, particularly in July and late July. I think you heard that earlier. So seeing some positive units there was refreshing given how we had started the quarter. Fuel prices were coming down. So we think that could have had some of an impact as well. In terms of the market, we're really focused on everyday low price. We have a strong rollback campaign all across the store, which would include food, consumables and general merchandise. And then in general, just across the food categories, our availability improvements, I think you can see in stores more consistently and across categories. Just you remember this time last year, we had pockets about of stocks that kept emerging, that's the only one that we really faced in the second quarter in a big way was baby formula, which is now improving. Doug McMillon - President and Chief Executive Officer The unit story is, one, the transaction count being up a little in this environment is also important to call out. The average basket was way up, but it's great to see transactions grow in the Walmart U.S. business also. Operator Thank you. Our next question is from the line of Steph Wissink with Jefferies. Please proceed with your question. Steph Wissink - Jefferies - Analyst Thank you. Good day, everyone. I wanted to follow up, Doug, on your comments regarding how the basket is shifting for consumers. I think you mentioned in the proteins category and even some areas of private label strengthening. Maybe take us into the household budgeting that you're seeing with respect to your transaction structure. And then, as you're looking at your guidance for the back half, maybe a follow-up would be what you're assuming in terms of the basket composition like class of good or even within private label versus national brands? Thank you so much. Doug McMillon - President and Chief Executive Officer Yeah. John, you jump in here, too. I think what you should take away from Q3 and Q4 guidance is that we're expecting the environment to look a lot like Q2. And as it relates to the choices people are making, the thing I would call out John's variety that you've got all kinds of income levels shopping in different ways and we've seen strength in some categories. It's really encouraging. For those that are under the most pressure, that are most price-sensitive, private brands are stronger, pack sizes are different. Opening price points, John, you might talk a little bit about that, what you saw at the holiday meeting, looking at for things like the Thanksgiving meal. The team's done a great job of protecting opening price points for people that are most price conscious. John Furner - President and Chief Executive Officer - Walmart U.S. Yeah. Steph, thinking back, one of the meetings we had in New York in 2020, we talked a lot about serving customers flexibly, as we develop the different businesses. And so just to tag on to Doug's comments, serving customers in store is something we have pressed ourselves on a long time. Our pickup business continues to grow. Our delivery is growing with Walmart Plus. So the variety of ways that we can serve customers, I think it's been helpful, especially given the number of shifts customers have had in their lives the last couple of years from working at home, and then meaning - in many cases, back out into the workplace. So as customers change, we can serve them in a number of ways. When you then click into products, our wide portfolio of products both in e-commerce and in-stores, including the numbers you heard from John David earlier in marketplace, gives us the ability to serve a wide range of customers. And then as Doug mentioned last week, we had all of our managers together in Denver, which is always a fun exciting experience to get the team together. But what I heard consistently is as the team is doing a very nice job balancing out how to improve quality and sell higher price points and remaining focused on opening price points. So having Thanksgiving meals in a position, where you can buy an entire meal for under $50 for a family of four is exciting. So there's a value play, and there's a quality play. And wherever the customer goes and how things shifts, we'll be ready to serve them and we're building the capabilities to be able to do that at will. John David Rainey - Executive Vice President and Chief Financial Officer Steph, I would just add. This is John David. As it relates to our guidance in the back half of the year, the swings that we've seen in consumer behavior have been difficult to predict and the pace at which they've happened has been sharp. And so our guidance for the back half really just assumes no change in what we're seeing in the second quarter in terms of mix changes in our business. Operator Thank you. Our next question is from the line of Michael Lasser with UBS. Please proceed with your question. Michael Lasser - UBS - Analyst Good morning. Thanks a lot for taking my question. Welcome, John David. John David Rainey - Executive Vice President and Chief Financial Officer Thank you. Michael Lasser - UBS - Analyst Walmart's been experiencing some discrete and arguably temporary factors that are weighing on its profitability this year, including staffing issues in 1Q and the well-documented inventory issues. So looking towards next year, when some of these inflationary pressures, inflationary cost pressures are going to seemingly roll back and you'll have moved through some of the challenges and the underlying drivers of the operating, alternative operating profit growth should continue, why wouldn't Walmart be in a position to generate growth above its long-term algorithm in 2023 [Phonetic]? Doug McMillon - President and Chief Executive Officer Sure. I'll take that, Michael. Thanks for the question. You're right. Certainly, we've incurred some costs this year that are more, call it, one-time in nature related to the supply chain and higher inflation, but it's difficult to predict how long that will persist. Certainly, the inventory situation has gotten better. But the effect on the mix changes in our business that are largely the result of higher inflation, and that may persist for some time. And so we're being cautious with respect to the outlook. We're obviously not giving guidance for next year right now. But look, what I'd point you to is the conviction that we have in our long-term plan has not changed, has not wavered. When you look at the long-term plan that was laid out by the management team previously in terms of what we're doing with the flywheel strategy, the ability to grow operating income faster than revenue, and you look at that over a multiyear basis, we have as much conviction today as we did when we laid that out. So very excited about the future. But the short-term period, this is a moment in time, and we're being cautious with respect to the outlook because there's a lot that we don't know. Operator Thank you. Our next question is from the line of Edward Yruma with Piper Sandler. Please proceed with your question. Edward Yruma - Piper Sandler - Analyst Hey, good morning. Thanks for taking the question. John David, curious on your perspective, given your most recent stop on Walmart's advertising and fintech businesses, I know you have a lot of experience from PayPal on that. How do you assess kind of where they're at today? And kind of how do you think about their [Phonetic] longer-term growth opportunity? Thank you. John David Rainey - Executive Vice President and Chief Financial Officer Sure. I appreciate the question. Well, certainly, I am a believer in what's happening in digital payments, fintech broadly, and the secular tailwinds that exist there with consumer behavior, moving more digital, more online. And if you look at the investments that Walmart has been making, they're in those areas, whether it's be expanding their e-commerce capabilities, their marketplaces, even getting into financial services. As I have an early peek into what the Company is doing, I've got to say I'm very impressed with the broad capabilities and the resources devoted to this. And so I think it's a huge opportunity for Walmart going forward. And frankly, one of the reasons that I'm so excited to join - to be part of this and help shape this outcome. Judith McKenna - President and Chief Executive Officer - Walmart International Maybe it's worth adding on financial services, PhonePe in India. You heard that we were there recently, and John David, you were there with us as well and got to visit the business there. It was - you'll have seen from the scripts that we had today that they grew their annualized transact [Phonetic] TPV to $830 billion. Last quarter, that was $770 billion. So really good progress there, and they're also now got monthly transactions of 3.1 billion a month, which is incredible. I think what's really encouraging with the way that they're approaching this space is they're looking not only at payments, but also at merchant services, and that two-sided network is an important part of that. But equally, starting to expand into financial services as well with a real focus at the moment on insurance and pushing that. And their knowledge and the ability to share that knowledge around the world and help other markets such as Mexico from a best practices, what they should be looking at, has been incredibly invaluable and one of the real benefits of being a global company. John David Rainey - Executive Vice President and Chief Financial Officer I'll just add to Judith said that I shared the excitement that we all had when we went to India and met with the team. To put it in perspective what PhonePe is doing, if you look at the largest digital payments companies outside of China and the world, PhonePe, after a very brief history, is already roughly two-thirds the size of that and what is going to be the largest market in the world in a very short period of time. So it's a really exciting opportunity. Doug McMillon - President and Chief Executive Officer Sure. I think you also asked about advertising. The relationship between digital growth, marketplace growth, advertising is something that we're trying to take advantage of. In the case of the U.S. business, the ability to attribute sales later on to in-store transactions makes us uniquely positioned that we've made a few enhancements lately for people that are consuming advertising from us. John Furner - President and Chief Executive Officer - Walmart U.S. We have, Doug, and knowing more about customers and the way they shop and knowing more about them in retail is important, and the growth in pickup and delivery and the growth in Plus, the growth in marketplace and e-commerce all help us be able to identify the right sellers and suppliers that we can connect, hence the term - the name Walmart Connect. We can connect them together to have an environment, where not only is it accretive to the profit and loss statement, but more importantly, accretive to the customer experience and help them get to exactly what they're looking for. John David Rainey - Executive Vice President and Chief Financial Officer I can't remember a business with the margin structure of the advertising business here at Walmart and having 30% growth for the quarter was nice to have. Operator Our next question is from the line of Kelly Bania with BMO Capital Markets. Please proceed with your question. Kelly Bania - BMO Capital Markets - Analyst Hi, good morning, and I'll add my welcome to John David. John David Rainey - Executive Vice President and Chief Financial Officer Thank you, Kelly. Kelly Bania - BMO Capital Markets - Analyst Lot of comments on the inventory, but just had a couple of more. Can you clarify the dollar amount of inventory that you estimate would be excess? And can you help us understand how much of that is in apparel or other categories and the magnitude of markdown that you expect to clear through that and the timing of when you expect to get back to a clean position. And I guess to follow up on that, do you at all think that this discounting from you and others in the industry could pull forward some demand through from the second half? And have you considered that into your second half guidance? John David Rainey - Executive Vice President and Chief Financial Officer Sure. I'll take a stab at that, Kelly. So if you think about just take the U.S. inventory increase in the second quarter of $11 billion. If you decompose that, about 40% of that is due to inflation. So don't think units, think just dollars. And then you look, as Doug noted, at things like the fact that we're growing as a Company that we've got less in stock next year and you normalize for all of that, you really whittle that down to about $1.5 billion of inventory that if we can just wave a magic wand, we'd make go away today. And the fact is we'll sell that. But if we were to start from scratch, that's what when we get rid of. In terms of the types, as John noted, the inventory issues were most acute in apparel in the second quarter. As we look into the third quarter, I'd say it's home, electronics and apparel are probably the areas that stand out the most. Operator Our next question is coming from the line of Simeon Gutman with Morgan Stanley. Please proceed with your question. Simeon Gutman - Morgan Stanley - Analyst Good morning, everyone. Still focusing on gross margin. The U.S. gross was down about 106 [Phonetic] or so or 107 [Phonetic] in the second quarter. Can you comment how much is mix versus markdown? And to us, it looks like the mix is not getting any worse, if that's fair. And then the clearance levels in Q3 versus Q2, will the clearance/markdown occupy a greater proportion in the third quarter versus the second? Doug McMillon - President and Chief Executive Officer Sure. Simeon, I'll take a stab at that as well, and John might want to jump in. So if - I'll just point you to the 132 basis point decline overall in gross margins. And there's really three things that I would say in order of magnitude that contributed to about, call it, two-thirds to 75% of that. So number one would be markdowns; number two is mix; and number three is the LIFO charge that we talked about in Sam's. And then there's all the various puts and takes that round out the balance of that. As it relates to markdowns in the third quarter, look, we feel like we're in a better inventory position and those are obviously very related. And so we would hope that we're not going to see the level of markdowns that we experienced in the second quarter, but we also - that's assuming that nothing changes with the consumer. So as we noted, we're being cautious on the outlook, and we'll wait and see what happens. John Furner - President and Chief Executive Officer - Walmart U.S. In the U.S. - Simeon, this is John. In the U.S., we did not have the LIFO charge, so a larger percentage of our markdown issue would have been in apparel. We still have a bit more to work through, but we're close if you compare to where we might have been before two years ago. So we're getting close to a position, where apparel is behind us. And that was the issue that throughout Q2, we spent the most time worrying about because we need to move through it because the goods have been purchased a long way out. Regarding the rest, in Q1 and then in Q2, as the backlog of containers worked itself through, that has created a lot of what the issue is today, where we felt good that we would have liked to have had months ago, and then this season is all here at the same time. So we've ingested all that inventory. We've largely gotten out of the container storage and movement business, and we have the inventory in the network. So we have a good handle on what we own, where it is. And then as I said earlier in the call, the end of Q1, we need a couple of quarters to work through it, and that's exactly what we do. So John David's right. We'll sell it. We'll work through it. Yes, there will be some liability in it. But apparel was definitely the issue that we had that was most skewed and would have really hurt us had we not addressed it in Q2. Doug McMillon - President and Chief Executive Officer I mean, sorry, Dan, go ahead. Daniel Binder - Senior Vice President - Investor Relations I was going to say, Simeon, on your mix question, if you go into our filings, you'll see our mix change year-over-year, and you'll see that in Q2 as well when we file our Q. At the end of Q1, it was a fairly significant shift, as we were lapping stimulus saving - stimulus spending. We recalibrated our expectations at the end of Q1, and then it was even worse than we expected for Q2. So that's what you're seeing get reflected in our view, as we look to the back half. We don't want to kind of get ahead of ourselves just because sales have been strengthening at the end of the quarter. Doug McMillon - President and Chief Executive Officer Yeah. I was going to kind of double click on that a little bit more, too. Fuel coming down in recent weeks is helpful. It's still about 27% inflated per gallon versus a year ago nationally. So the absolute spend that an American family is deploying the fuel is still high nigh on is the amount of food inflation. And I think Q4 last year is the moment, where we started to see U.S. food inflation tick up. It was kind of low to mid-single digits. So when you get to Q4, you start to anniversary a food inflation number against a food inflation number. So the two-year stack of food inflation will be something that we'll be keeping an eye on. If you told us that fuel was going to continue to tick down and that food inflation was going to moderate, that influences how we think about general merchandise inventory. And as we worked with the merchants over the last few weeks, it's been kind of fascinating to think through how you make choices item-by-item - and item by - and category by category because you don't want to go into too much of a defensive mode, and we were looking at Halloween decor last week, John, and there are some things, outdoor decor, particularly like inflatables, that are really fun, cool, new items. And when you see them, you're like, we can sell or you can buy that. Like we're going to blow out of some of those. And we want the buyers in some categories to have that mentality and be aggressive. In other places, we want to be more conservative, so that we don't repeat the mistakes that we've had in the first half of this year. That's such an interesting thing to work through. It takes a lot more leadership from our merchant team, for example, that it might ordinarily. We think we have made some good decisions subcategory by subcategory for the back half of this year, canceled some orders, trying to get that right area by area, so that we don't end up being too conservative in places, where we shouldn't be. Operator Our next question comes from the line of Robby Ohmes from Back of America. Please proceed with your question. Robby Ohmes - Bank of America Merrill Lynch - Analyst Hey, good morning. Thanks for taking my question. I think a follow-up on that, Doug, and I think it's probably harder for you guys to predict, where fuel prices are going, but you have some visibility on food inflation given how large you are a player in that. It accelerated a lot in the second quarter. Has that continued in the third quarter? And I guess, does the guidance, it assumes it stays at the level of the second quarter? Or do you think it could be up more in 3Q before maybe it fades [Phonetic] against the comparisons in the fourth? Any kind of color on what you're assuming would be great. And a quick second one for Kath is just the home and apparel comps were much stronger at CMs. Was that all clearance? Or is there something different between Sam's and Walmart U.S. in terms of home apparel sales? John Furner - President and Chief Executive Officer - Walmart U.S. Hey, Robby, it's John. I'll take the first part of your question. In relation to - as it relates to food inflation, it definitely moved up in the second quarter and moved up in the months of the second quarter. So July was higher than June, June was higher than May. I think it's too early into the third quarter to try to make a call if this is where we'll be, if it will go higher or go down. So for now, we're assuming that this is the level we're at and it could continue. And some of the factors though to consider is one of the costs that are part of the way we price food is the cost of moving food. So diesel fuel and fuel continue to move down, that could be a tailwind related to inflation. However, there's still some commodities up. We do see a few categories in the store, where prices are starting to come down, but there are other categories, where we're still rising. So I think it's just too early to call in the quarter. Certainly hope that some of these larger macroeconomic conditions would lead to lower prices in food. But we're not able to say that we see that happening just yet. Kathryn McLay - President and Chief Executive Officer - Sam's Club And it's Kathryn, Sam's. On the home and apparel, what I would say is it's actually a multiyear story. So it's not clearance. It's been the investments we've made in the quality that we've had in home, apparel and seasonal, and we're seeing better quality brands, and we've seen that resonate with our member base, and that has continued through into this year. Doug McMillon - President and Chief Executive Officer Also a higher income member than the profile you see in Walmart U.S. Kathryn McLay - President and Chief Executive Officer - Sam's Club Yes. Operator Our next question is from the line of Rupesh Parikh with Oppenheimer. Please proceed with your question. Rupesh Parikh - Oppenheimer - Analyst Good morning. Thanks for taking the questions. So first on the markdown front, I was curious if you can at all comment on what you view as excess markdowns, as we try to think about next year? And then secondarily, on Sam's Club gross margins declined nearly 300 basis points. I want to get a sense of if you expect any of that to be structural? Or do you expect that to recover the margin decline over time? John Furner - President and Chief Executive Officer - Walmart U.S. Hey, Rupesh, good morning. On markdowns, kind of break it into pieces. Last year and the year before, there weren't really many markdowns to speak of because we were chasing demand and in many cases, at the end of the seasons were very clean. So returning to a point, where there are end of [Phonetic] season, markdowns is a pretty normal thing that we would experience. And the way we're trying to manage the sell-through season by season as compared to historical rates back in 2018, 2019, and of course, things are always going to be different, but it's a good barometer [Phonetic] that determine, where we land. The second the business is much larger than it was in 2019. So these volume levels continue to improve, which then leads to the dynamic of how much you purchase, which ultimately the amount you purchase versus demand will lead you to your sell-through and markdown numbers. So for the fourth quarter, we mentioned we've canceled billions in orders. We feel much better about the back half of the year. We still have inventory to work through and ingest from the backlogs, as we said. So we need a couple of quarters to do that. And then heading into the next year, we'll have purchasing levels that are more in line with the way we see demand as it's going today. Of course, a lot can change. We need to know more about fuel pricing and inflation and the state of the consumers we get there, but we have definitely had more time and more success in getting purchasing in line with our current inventory levels and the way we see demand going in terms of mix today. Kathryn McLay - President and Chief Executive Officer - Sam's Club And for the Sam's part of the question, I would say if you look at our GP rate, there's two major things going on there, one is the LIFO charge of $123 million, and the other one is what we had called markdowns. But there's two things at play there. The largest part of that amount is a strategic decision we made to create an inventory reserve for Q3. And so that's really pulling forward those markdowns from Q3 into Q2 to set ourselves up for success and to make sure that we're really competitive going into Q3. So I don't see that as a trend. I see that as just this quarter, the impact on this quarter. Operator Our next question is coming from the line of Joe Feldman with Telsey Advisory Group. Please proceed with your question. Joe Feldman - Telsey Advisory Group - Analyst Hey guys, thanks for taking the question. Wanted to check in on what you're seeing with the supply chain these days. I mean I know fuel cost has come down, and we're hearing container cost prices have come down. But are you getting a more regular flow of inventory, as you need at this point? Or just a view of the global supply chain would be really helpful? Thanks. John Furner - President and Chief Executive Officer - Walmart U.S. Hey, Joe, it's John. First, let me just say a big thank you to our supply chain team, our merchants, they have been through a lot. The environment has been extremely dynamic, and they have really just made a huge difference for the entire Company. The last couple of quarters, what's it been like. There was the backlog of containers that really started last fall when the ports backed up. We've worked those through. In terms of container costs, they are down from where they were, but they are still higher than they were a year ago, and a year ago was higher than - it was higher than they were the year before that. So still inflated, and those costs are flowing through. Fuel costing, as Doug said earlier, fuel has come down from its peak at the end of Q1, early Q2, but it still remains elevated. And those are real costs that are passed through and customers will see those prices at the counter and on the site. So in general, we see better flow. We see better availability. Our availability rates in food, consumables, and then our consumable portions of general merchandise are much better than they were a year ago. But I still think we have work to do to get back to where we were back in 2019, but still uneven in places. And any time in retail, that inventories back up the way they did. It does cause pressure on being able to get the right inventory at the right location in front of the customer. So optimistic that can improve, as these inventories come down, but it's going to take a few more months to work through the backlog of the inventory that's in the network. Doug McMillon - President and Chief Executive Officer Joe, I would just add from a P&L perspective and you think about the cadence of earnings from 3Q to 4Q, we started experiencing more pronounced supply chain costs in 4Q last year. So from a cost side, that makes the comps a little bit easier, and if you're thinking about operating income in the fourth quarter versus the third quarter. Operator Thank you. Our next question is from the line of Chuck Grom with Gordon Haskett. Please proceed with your question. Chuck Grom - Gordon Haskett - Analyst Hey, thanks very much, and welcome, John David. When you unpack the factors behind the better back-to-school and strong finish in July, and it sounds like in August so far, I guess how would you rank the key contributors? Lower gas prices, there was a big uptick in state tax holidays this year versus last. And I guess has the improvement altered your view of the upcoming holiday season in any way in terms of how you think the consumer is going to react. John Furner - President and Chief Executive Officer - Walmart U.S. Hey, Chuck, good morning. And I think there are really three factors that stand out, and you'll see this in the numbers. One is, there are more customers shopping in the brand than we've seen previously, including better traffic numbers. Fuel prices did come down throughout the month of July. And I think the third that is important is school attendance levels, we think, will be higher. There are very few instances of schools that are remote at this point, and there were some of those last year. So things like backpacks and lunch boxes. And then there are other programs, where some school lunches were paid for last year that this year will be funded by families and parents. So there's a shift in all of those factors that are leading to more spending late in July and early in the third quarter. As far as how it relates to the rest of the year, again, so a lot of unknowns, as we get into the rest of the year. Fuel prices are still moving, but they continue to move down, that would be a great thing. And we'll have to watch the shape of the consumer and see how they're buying. But I would just reiterate what John David said earlier, we are really committed to the long-term plan and our long-term view of the business. And it's been great to see some of the improvements in the areas on the flywheel that are adjacent to retail that will help the overall business over the long term. Doug McMillon - President and Chief Executive Officer John, I would add as it relates to better than expected performance for 2Q, as noted, supply chain costs remain [Phonetic] - better than we expected. And in any quarter, when you close, you're going to have some puts and takes at the end of the quarter. Some may fall in your favor, some may work against you. In the first quarter, supply chain costs came in worse than what we expected when we closed the quarter. And so when we updated our guidance at the end of last month, we had a similar expectation. It actually fell the other way in our favor. And so that contributes to the better than expected performance relative to our guidance at the end of last month. John David Rainey - Executive Vice President and Chief Financial Officer I would just add, when you're thinking about supply chain costs, and we're getting invoices all quarter end-to-end, a lot of the things that we were experiencing these last several quarters have been unusual, container fines and excess fuel charges and things like that So there was - it was a higher - an expectation of higher cost and it just came - it felt favorably. Operator Thank you. Our final question will be from the line of Ben Bienvenu with Stephens. Please proceed with your question. Ben Bienvenu - Stephens - Analyst Hey, thanks. Good morning. I wanted to ask when you move through a cycle like this with consumers trading down and between the price [Phonetic] and you gain market share and pick up new customers, how sticky does that share end up being on the other side of this inflation? Might we see this bolster your long-term share position and maybe leave you guys coming out of this environment in a stronger position with the consumer? And then, as a follow-up, you noted you're seeing middle and lower income households trading into Walmart. What are you seeing from lower income households? Are you seeing any trading down away from Walmart? Doug McMillon - President and Chief Executive Officer Yeah. We certainly hope to hold share around the world, and I think this inflationary environment is going to last for a while. So people are going to be value conscious, which plays to our strengths. The e-commerce experience end to end is a focus of ours. We want to continue to grow our pickup and delivery businesses around the world. We, of course, want to grow and maintain share of customer spend in the stores as well. Moving away, I think if any of you want to comment, you can, I think we are holding at the lower end and adding at the upper end, generally speaking. John Furner - President and Chief Executive Officer - Walmart U.S. So I think that's exactly right. And in relation to the first part of your question, Ben, what have we seen in previous cycles? We did see some pickup in the last cycle, that was a downturn in 2008, '09. But there are a few things that are different now that I think I'd like to point out. And in that time period, we had our store business and a small e-commerce business. We did not have food pickup. We didn't do delivery from stores. We didn't deliver groceries. We did not have Walmart in Home. We didn't have Walmart Plus. So our ability to serve customers more flexibly - in a more flexible manner than what we could have 13 years, 14 years ago was pretty dramatic. So definitely a lot of work to do to ensure that we're taking care of those customers, and we're focused every week on satisfaction scores and accuracy of delivery and things like first-time pick rate, which is an indicator of did we get your entire order right at the very first time we try to deliver it. Those will all be important in terms of being able to hold on to new customers. But we definitely have a number of ways that we can serve customers today that just, quite frankly, did not exist the last time we went through a downturn. Doug McMillon - President and Chief Executive Officer And planning to sell some more Walmart Plus memberships to help solidify those relationships, and the Paramount announcement should help us do that. John Furner - President and Chief Executive Officer - Walmart U.S. Yeah. We're excited about the announcement, Doug. The brand Paramount has a lot of programming for kids. It has live sports. There are other movies and drama. So it's a wide variety of content that I think our members will enjoy. And that was, quite frankly, a member-led research. When we talk to members and ask what are the benefits they were looking for, the number one feature outside of delivery of product from both stores and e-commerce was an entertainment benefit. And there were others they talked about, but entertainment was at the top of the list, and that's what led to the decision to add this benefit to the program. Operator Thank you. At this time, we've reached the end of our question-and-answer session. And I'll turn the call over to Doug McMillon for closing remarks. Doug McMillon - President and Chief Executive Officer Yeah. As usual, thanks for your attention. We appreciate you focusing on our Company. I'll just wrap up with maybe three points. The first one is hopefully, you're seeing in the results and hearing from us that we're making progress. We're addressing our inventory issues. We're pricing to reflect our cost structure. Secondly, more people are choosing Walmart and Sam's Club and our brands around the world. Bodega business in Mexico, for example, is really strong. So being able to attract more and more customers and a more diverse set of customers is a positive for us. And then third, we're continuing to change the business, execute our strategy, our e-commerce growth, our digital transformation, growing the marketplace, growing these related businesses that are unlocked by this digital transformation that's happening in the Company is something that we're focused on. Regardless of the short-term pressures, we're making progress towards the longer term. We certainly hope to put the pressures that we've had in the first half behind us as quickly as we can, claw back the operating income percentage delta that we've experienced in the first half to the extent possible, as fast as possible. But as you can see in our guidance, we acknowledge reality. The world around - around the world is feeling various pressures, most pronounced from inflation, of course. So we think we put ourselves in a good spot to continue to make progress and value. When customers and members are focused on values is something that plays to our strengths. So we'll take full advantage of that. Thank you, all. Source: AlphaStreet Aug 16, 2022: Earnings Season Winding Down: Analysts Upgrade or Downgrade Mastercard, PayPal, Rackspace, Snowflake and More August 16, 2022 2:02 pm Markets pushed higher on Tuesday afternoon after a fairly slow start to the day. The Dow Jones Industrial Average was leading the charge higher, up nearly 1%. The S&P 600 was lagging, up only 0.4%, while the Nasdaq was holding just barely positive. This move by the Dow was precipitated by earnings at Walmart on Tuesday morning. Overall, the world's largest retailer was cautiously optimistic on the American consumer but noted that there were some behavioral changes as a result of inflation. As earnings season is winding down markets are apparently finding a direction, which is ultimately positive. For the past four consecutive weeks, the S&P 500 has posted gains and after days like today, there's an bullish case going forward. 24/7 Wall St. is reviewing additional analyst calls seen on Tuesday. We have included the latest call on each stock, as well as a recent trading history and the consensus targets among analysts. Note that analyst calls seen earlier in the day were on Bed Bath & Beyond, Etsy, Truist Financial and more. Coupang, Inc. (NYSE: CPNG): CLSA downgraded to a Sell rating from Outperform with a $16.40 price target. The 52-week trading range is $8.98 to $33.95, and shares were trading near $18 on Tuesday. Imperial Oil Ltd. (NYSE: IMO): TD Securities downgraded to a Hold rating from Buy. The stock traded near $45 on Tuesday, in a 52-week range of $23.94 to $57.89. Mastercard Inc. (NYSE: MA): Daiwa Securities downgraded to a Neutral rating from Outperform and cut the price target to $375 from $385. The stock traded at around $358 on Tuesday. The 52-week range is $303.65 to $399.92 a share. Park Hotels & Resorts Inc. (NYSE: PK): BMO Capital Markets downgraded to a Market Perform rating from Outperform and cut the price target to $18 from $21. The 52-week trading range is $12.90 to $21.62, and the share price was near $16 on Tuesday. Public Storage (NYSE: PSA): Raymond James downgraded to an Outperform rating from Strong Buy and raised the price target to $380 from $365. Shares have traded as high as $421.76 in the past year but were near $352 on Tuesday, which is down 1% year to date. PayPal Holdings, Inc. (NASDAQ: PYPL): Daiwa Securities upgraded to an Outperform rating from Neutral and raised the price target to $116 from $85. The 52-week trading range is $67.58 to $296.70. Shares changed hands near $102 apiece on Tuesday. Rackspace Technology, Inc. (NASDAQ: RXT): JPMorgan downgraded to an Underweight rating from Neutral and cut the price target to $5 from $7. The 52-week trading range is $5.40 to $18.50, and shares traded near $5 apiece on Tuesday. Snowflake Inc. (NYSE: SNOW): UBS downgraded to a Neutral rating from Buy and raised the price target to $175 from $165. The shares traded near $164 on Tuesday. The 52-week trading range is $110.26 to $405.00. Get Our Free Investment Newsletter I have read, and agree to the Terms of Use Your Email Address Visa Inc. (NYSE: V): Daiwa Securities downgraded to a Neutral rating from Outperform and cut the price target to $225 from $230. Shares traded near $216 on Tuesday, in a 52-week range of $185.91 to $236.96. Zoom Video Communications, Inc. (NASDAQ: ZM): Citigroup downgraded to a Sell rating from Neutral with a $91 price target. The shares traded near $108 on Tuesday. The 52-week trading range is $79.03 to $357.93. Source: 24/7 Wall St. Aug 15, 2022: Walmart expects top-line boost at expense of margins Walmart's outlook remains tepid in the leadup to the world's largest retailer's second quarter earnings call on Tuesday August 16. The US large-cap issued a profit warning in July as concerns over inflation, consumer spending and rising fuel prices continued to mount. While inflation is expected to boost the top line, that will come at the expense of margins, particularly following a discounting campaign on certain lines to get rid of excess product, as well as a higher proportion of basket spend going towards lower-margin food items. Russ Mould, investment director at AJ Bell, said: "Inflation is therefore both a boon and a curse for the retailer. "Food-price inflation is running in the double-digits on a percentage basis, according to Walmart, but the need to discount to shift certain categories of other goods, notably general merchandise and clothing, is crimping margins, as are rising input costs." Consolidated net sales growth is expected to come in at 7.5%, impacted by a US1$bn currency headwind, while operating margins are expected to be around 4%. Adjusted earnings per share for the second quarter is expected to decline between 8% and 9% for the second quarter. Yet WMT shares are trending positively in the lead up to tomorrow's earnings, having added 3.9% over the past five days. Source: Proactive Investors Aug 15, 2022: Walmart Delivers New Benefit for Walmart+ Members: A Paramount+ Subscription at No Extra Cost August 15, 2022 BENTONVILLE, Ark., August 15, 2022 - Walmart is taking its membership offering to the next level by adding a new streaming benefit. Walmart+ will soon be available for members with an added bonus - a Paramount+ Essential subscription at no extra cost. Walmart+ members will be able to stream premium entertainment as a benefit for the first time as part of their membership starting in September. The Paramount+ Essential Plan will give Walmart+ members access to Paramount+'s breadth of hugely popular content from acclaimed original dramas such as "1883" and "Star Trek: Strange New Worlds," to the world's most popular preschool franchise, "PAW Patrol," to recent blockbuster films such as "Sonic the Hedgehog 2," to live sports. The streaming service benefit becomes yet another way Walmart is uniquely positioned to give members more for less with Walmart+, whether in-store, at the gas pump, on groceries, listening to music, and now when watching their favorite movies and shows. Walmart+ will remain $98 a year or $12.95 a month and include the Paramount+ Essential Plan subscription with an added $59 value. "We know Walmart+ is providing members real value in their every day - from grocery shopping to filling up their tank and more," said Chris Cracchiolo, senior vice president and general manager of Walmart+. "With the addition of Paramount+, we are demonstrating our unique ability to help members save even more and live better by delivering entertainment for less, too. Eighty-five percent of U.S. households use streaming services1 and Paramount+ has the premium content and broad appeal that our members are looking for - like Walmart, they have something for everyone. We're excited about the launch and what comes next for Walmart+." "Paramount has enjoyed a close relationship with Walmart for years, and Walmart customers connect with Paramount's beloved brands, content, and characters every day through a range of consumer products available throughout Walmart stores," said Jeff Shultz, chief strategy officer and chief business development officer, Paramount Streaming. "Now, pairing Walmart's expansive reach across the country with Paramount+'s broad and popular content that offers something for everyone is a unique opportunity to expand our partnership. Together we will bring Walmart+ members the full breadth of Paramount+ programming." Walmart is consistently evolving to deliver against what's most important for members - as a result, Walmart+ has had positive member growth every month since its launch in September 2020. Most recently, the retailer combined its InHome service into Walmart+ to create efficiency for members. As members seek more ways to save money, they can now consolidate a portion of their subscriptions and get entertainment through the membership. Source: Walmart Inc. Aug 15, 2022: Walmart expects top-line boost at expense of margins Walmart's outlook remains tepid in the leadup to the world's largest retailer's second quarter earnings call on Tuesday August 16. The US large-cap issued a profit warning in July as concerns over inflation, consumer spending and rising fuel prices continued to mount. While inflation is expected to boost the top line, that will come at the expense of margins, particularly following a discounting campaign on certain lines to get rid of excess product, as well as a higher proportion of basket spend going towards lower-margin food items. Russ Mould, investment director at AJ Bell, said: "Inflation is therefore both a boon and a curse for the retailer. "Food-price inflation is running in the double-digits on a percentage basis, according to Walmart, but the need to discount to shift certain categories of other goods, notably general merchandise and clothing, is crimping margins, as are rising input costs." Consolidated net sales growth is expected to come in at 7.5%, impacted by a US1$bn currency headwind, while operating margins are expected to be around 4%. Adjusted earnings per share for the second quarter is expected to decline between 8% and 9% for the second quarter. Yet WMT shares are trending positively in the lead up to tomorrow's earnings, having added 3.9% over the past five days. Source: By Proactive Investors Aug 15, 2022: Walmart Q2 FY 2023 Earnings Report Preview: What to Look For August 15, 2022 Earnings and revenue at Walmart Inc. (WMT) grew at a strong pace throughout much of the COVID-19 pandemic as consumers shifted to e-commerce and making more purchases for the home. But these trends are shifting as shoppers return to in-person stores and experiences. 1 The shifting dynamics could mean trouble for Walmart, as the retail giant has had to lower prices to move products that have piled up in stores. The company also recently announced layoffs and a restructuring of its headquarters operations. 2 Investors will watch to see how these factors have affected Walmart's performance when it reports earnings for Q2 FY 2023 on Aug. 16, 2022. 3 Walmart's 2022 fiscal year (FY) ended Jan. 31, 2022. Analysts predict that adjusted earnings per share (EPS) will decline for a second straight quarter as revenue growth accelerates to its fastest pace in a year and a half. 4 Investors also will look at Walmart's U.S. comparable sales growth, excluding fuel. This metric measures the rate of growth generated by the company's existing stores and clubs in the U.S. as well as e-commerce sales. Comparable sales growth is predicted to increase on both a YOY and a sequential basis. 4 Walmart shares have performed erratically in the last year. Although the stock was ahead of the broader market in mid-August 2021, it declined through early October and failed to maintain a recovery for many months to follow. Walmart stock rallied in March and April 2022, once again outpacing the market. But shares fell into early May and dropped precipitously following the most recent quarterly report that month. The stock has recovered somewhat since that time but is still struggling to maintain gains. As of Aug. 14, Walmart shares have provided a 1-year trailing total return of -9.9%, behind the S&P 500's return of -4.1%. Walmart Earnings History In FY 2020, Walmart's last fiscal year before the start of the COVID-19 pandemic, the company's adjusted EPS declined in three out of four quarters. This performance sharply reversed in FY 2021, as quarterly growth accelerated to as high as 23.3% in Q2. FY 2022 was even stronger, with YOY improvement in adjusted EPS of 42.7% in Q1 of that year. Since that high point, though, adjusted EPS growth cooled. It dropped to 8.0% by Q3 FY 2021 and declined YOY for the first time in over two years for Q1 FY 2023. Analysts now predict a second consecutive quarter of adjusted EPS declines YOY, although at a slower pace than last quarter. Source: Investopedia Aug 12, 2022: Canoo To Outsource Initial Production Of Electric Vans For Walmart Aug 12, 2022 at 5:49am ET EV startup Canoo released its Q2 financial results earlier this week and delivered rather surprising news on the conference call. Canoo CEO Tony Aquila told analysts during the call that it will not build the first batch of electric vans for customer and shareholder Walmart itself. Instead, the company will use an unspecified contractor for the initial output of its debut EV by the end of the year. Canoo previously said it would assemble its own vehicles at a small facility in Bentonville, Arkansas, where Walmart is headquartered, while it works on building a dedicated factory in Pryor, Oklahoma. The announcement likely hints at production issues for Canoo, which received an unexpected lifeline from Walmart last month in the form of an order for at least 4,500 electric vans, with the option to purchase up to 10,000. It's worth noting that Canoo had a contract manufacturing deal with Dutch company VDL Nedcar but backed out of the deal in late 2021 as it believed it could start production of its Lifestyle Vehicle earlier if it made it in the United States. Despite the change of plans regarding production, Aquila said deliveries to Walmart are on track to begin in the first quarter of 2023. In an SEC filing on August 8 picked up by Bloomberg, Canoo noted that the success of its agreement with Walmart is paramount for its survival. "We have entered into an agreement with Walmart Inc. for the purchase of electric vehicles and expect that, at least initially, Walmart Inc. will be our largest customer. If we are unable to maintain this relationship, or if Walmart purchases significantly fewer vehicles than we currently anticipate or none at all, our business, prospects, financial condition, results of operations, and cash flows could be materially and adversely affected." The company's financial results for the second quarter further emphasize that, as Canoo is burning through cash rapidly. The EV maker posted a net loss of $164.4 million in the second quarter and $289.8 million in the first half of the year, compared to $112.6 million and $127.8 million in the same periods last year, respectively. However, while last quarter Canoo was warning it might not have enough cash to stay in business, three months later, the startup says it has access to enough capital to navigate the rest of the year. Canoo claims it has ended the quarter with more than $1 billion in its sales pipeline, largely attributable to the Walmart deal. Mind you, only 17 percent of the 32,500 reservations are committed sales under contract, the rest being non-binding and refundable. The startup closed out the quarter with cash and cash equivalents of $33.8 million, which is very low for an EV company. Still, Canoo claims it has about $220 million of unused capacity on its Standby Equity Purchase Agreement (SEPA) facility filed with the SEC in May. Source: InsideEVs Aug 12, 2022: Walmart's long-lasting challenge: luring budget shoppers back to its stores 12/08/2022 - 11:15 By Arriana McLymore and Siddharth Cavale - Walmart Inc could face an uphill battle to reclaim U.S. shoppers who opted for the neighborhood dollar store or Aldi rather than driving farther to a Walmart Supercenter when gasoline was $5 a gallon. While gasoline prices have dropped nearly 20% over the past month, there are no signs shoppers are returning to the nation's biggest retailer, according to foot traffic data reviewed by Reuters and analysts. Inflation remains at a 40-year high, devouring a large chunk of the grocery budgets of many Americans, especially Walmart's legions of cost-conscious shoppers. Foot traffic at Walmart's 3,573 U.S. Supercenters and its 370 discount stores (as of Jan. 31, 2022) fell 2.7% on average from June 1 through July 25 versus a year earlier, according to data from Placer.ai, a location analytics firm. Meanwhile, traffic rose 11.5% at Aldi, owned by German discount grocer Aldi Sud, and the number of shopper visits climbed 4.1% at Dollar General. The question of how to reverse the loss in foot traffic will likely be a focus for analysts when Walmart reports second-quarter earnings on Aug. 16. It may not be easy - or cheap. Walmart store traffic trends compared with Dollar General and Aldi: https://fingfx.thomsonreuters.com/gfx/mkt/zdvxoznmxpx/Dollar-general-and-aldi-have-attracted-more-shoppers-than-walmart-since-june%20(1).png Burt Flickinger, managing director of Strategic Resource Group, said Walmart needs to invest more in local advertisements to lure people back into stores. Cutting back on local newspaper ads has become Walmart's "Achilles heel," Flickinger said. If the company wants customers to return, Walmart must spend more money on "high-value ads" that highlight promotions and rollbacks. Walmart shoppers have a median household income of $73,000, according to data from Numerator, a consumer insights firm. In June, inflation reached 9.1%, a four-decade record, while gasoline prices soared to $5.006 a gallon on average (June 13), up from $3.161 a year earlier, according to the U.S. Energy Information Administration. Higher gas prices shaved hundreds of dollars off the monthly spending budgets of the typical low-income American, according to several economists. Walmart CEO Doug McMillon has previously characterized the retailer as an "inflation-fighter" and a top destination for shoppers in recessionary periods. But Walmart's share as the first choice for grocery purchases dropped to 25.5% in July, from 27.4% in June, according to a Prosper Insights & Analytics monthly consumer survey cited in a Cowen & Co note. McMillon recently told investors that shoppers - especially from lower-income households - bought fewer items in the three months through April 30, even they also consolidated their trips to the store in response to higher fuel prices. Monthly spending on gas in July rose to 5.57% of the income of a typical American household - which earns $5,412 per month post-tax - up from 2.79% of income in December 2019, according to GlobalData. Poorer households generally spend a bigger portion of their incomes on gas and essentials. Walmart Supercenters, which average about 190,000 square feet (17,651.6 square meters) and sell groceries and deli items, alongside clothing, home products, and electronics, tend to be located outside of major metropolitan areas, requiring many shoppers to drive at least several miles. Supercenters do not sell gas. SAVEMONEY, SHOPCLOSER Both Walmart and Target Corp issued profit warnings over the past two months, noting that U.S. shoppers responded to the rising cost of living by buying primarily lower-margin food and other essentials, while skipping aisles filled with clothes and sporting goods. Walmart's warning in late July was "a diagnostic look at the average American household," Jefferies analyst Stephanie Wissink said. It showed the squeeze on shoppers' monthly budgets that also led many to cut back on their trips to grocery stores, she said. At Target's 1,937 stores, traffic declined from mid-June through the week of July 25, Placer.ai data shows. While Walmart has an advantage of offering a larger selection, dollar stores' more convenient locations offer an advantage when fuel prices are high, Jason Benowitz, senior portfolio manager at the Roosevelt Investment Group, said. Shopper visits to Dollar General stores rose in all weeks of June and for most of July, versus the same period last year, the data shows. Dollar General operates more than 18,400 stores in the United States compared with Walmart's 5,342 U.S stores, according to its latest annual filing. Placer.ai did not provide data on other dollar store chains, such as Family Dollar and Dollar Tree. However, its quarterly index for dollar stores shows that foot traffic to discount stores in the second quarter increased 8% year-over-year and jumped 13.2% compared with the last quarter. "The driving distance for a typical shopper across much of the U.S. may be twice as far to reach the nearest Walmart as compared to a dollar store," Benowitz said. Source: Euronews Aug 11, 2022: Walmart Accused of 'Scamming' Shoppers at Checkout: 'Disgusted' 8/11/22 AT 5:41 PM EDT AWalmart customer has gone viral for warning shoppers about price markups in the checkout line. Brenna, a baker who goes by @brennasbakery on TikTok, told buyers to beware after a shopping trip on July 29. Her video detailed the discrepancy between marked prices and the charges a cashier rang up when she was checking out. Less than a week later, over a dozen Walmart stores in North Carolina were fined by the state for charging the wrong prices. "Walmart is scamming people," Brenna said in the video with 320,000 views. Source: Newsweek Aug 11, 2022: Walmart Opens High-Tech Consolidation Center in Pennsylvania, Creating 1,000 New Jobs August 11, 2022 LEBANON, Pa.- This month, Walmart will open a high-tech consolidation center in Lebanon, Pa. The new 400,000 square-foot facility, located at 1625 Heilmandale Road, will bring nearly 1,000 additional jobs to the area, 500 of which were hired in advance. Once implemented, the facility's automated technology can enable three times more volume to flow throughout the center and help Walmart deliver the right product to the right store, so customers can find the products they need. The Lebanon consolidation center will service all 42 regional distribution centers across the U.S., with plans to service fulfillment centers in the near future. This building will be the second of its kind in Walmart's supply chain. The first, located in Colton, Calif., opened in 2019. Consolidation centers have a specialized role in moving products quickly on their journey to store shelves, and ultimately, the customer. Each has the ability to receive general merchandise items from suppliers in smaller freight loads, known in the industry as less than a truckload (LTL) and consolidate them into larger freight loads, known as full truckloads (TL). Then the product is shipped to regional distribution centers where it is sorted for distribution to stores. Suppliers will now be able to deliver merchandise to one singular location for consolidation versus shipping separate orders for each of the 42 regional distribution centers. This automation will unlock new benefits for suppliers through simplification of purchase order fulfillment, reduction of lead times and increased speed to customers. "We've made continued investments in our people, facilities and technology to ensure we have the right product, in the right place, at the right time," said Mike Gray, senior vice president, supply chain operations at Walmart. "As part of these investments, the Lebanon facility will provide even more opportunities for small to medium sized suppliers who do not ship nationwide, the ability to provide product to all 4,700 Walmart stores." Walmart's growing modern supply chain network These high-tech consolidation centers support a broader focus on technology within Walmart's supply chain. This year, the retailer announced plans to renovate all 42 regional distribution centers with automated technology. "Walmart is creating the future of supply chain-a modern system that pairs the latest in software and automation technologies, with a highly trained and specialized workforce of Walmart associates-to disrupt the industry as we know it," said David Guggina, senior vice president of innovation & automation, Walmart U.S. "It's an exciting time to join our second high tech consolidation center in Lebanon. At this facility, we're implementing the technologies Walmart will continue to roll out throughout our supply chain network." High-tech consolidation center brings careers to Lebanon Once staffed, Walmart will have 1,000 associates at the Lebanon consolidation center in roles ranging from Freight Handler to Operational Manager. Full-time positions qualify for Walmart's total rewards and benefits plans, including medical, vision and dental insurance, 401(k) matching, paid time off, stock purchase plan and access to a 100% paid college tuition and books through Walmart's Live Better U. Additional employment information will be shared closer to the facilities opening dates. To learn more about careers at Walmart visit: careers.walmart.com. About Walmart Walmart Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere - in retail stores, online, and through their mobile devices. Each week, approximately 230 million customers and members visit more than 10,500 stores and clubs under 46 banners in 24 countries and eCommerce websites. With fiscal year 2022 revenue of $573 billion, Walmart employs approximately 2.3 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting corporate.walmart.com, on Facebook at facebook.com/walmart and on Twitter at twitter.com/walmart. About Walmart in Pennsylvania Walmart Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere - in retail stores, online, and through their mobile devices. In Pennsylvania we serve customers at 160 retail units and online through Walmart Online Grocery and Walmart.com, and our family of brands. We are proud to employ more than 58,000 associates in Pennsylvania. Walmart supports local businesses, spending more than $13 billion with Pennsylvania suppliers in FYE 2022 and supporting more than 193,000 Pennsylvania supplier jobs. Walmart continues to be a leader in employment opportunity, sustainability, and corporate philanthropy. In FYE 22, Walmart and the Walmart Foundation contributed more than $33 million in cash and in-kind donations to local nonprofits in Pennsylvania. Learn more at corporate.walmart.com, and our Facebook, Twitter, Pinterest, Instagram channels. Source: Perishable News Aug 11, 2022: Wrong prices detected at NC stores are exploding; Walmart store fails 3 times RALEIGH, N.C. (WNCN) - There's been a huge increase in the number of stores charging the wrong prices at the register according to those who are in charge of checking to make sure you pay the right price. When you buy an item, you want to make sure you're paying the price listed on the shelf. "With prices going up on so many items across the board you certainly don't want to pay more than you should or have to," said shopper Chris Baker. Baker experienced several price overcharges at the Walmart Superstore in Chapel Hill recently. He purchased fuel injector cleaner that was listed at $25.97 on the shelf, but he was charged $29.96 at the register. Another example was a box of a dozen donuts priced on the shelf for $7.14. But it rang up $9.48 at the register. Turns out this store has been repeatedly flagged by the state agency that checks for prices lining up with those on the shelf. Back on Nov. 15, 2021, it failed inspection with a 13 percent error rate. It was reinspected on Dec. 20, 2021, and failed again with 24 percent overcharge rate. At that point, Walmart was fined $5,000. Another inspection took place in February 2021. During that check, the store passed. In April 2022, the weights and measures division of the North Carolina Agriculture Department received another consumer complaint about that superstore. The division went back to check prices - and the store failed again. A follow-up inspection in June resulted in yet another failure. Now, weights and measures officials say the store is scheduled for another reinspection at the end of August. CBS 17 Consumer Investigator Steve Sbraccia contacted Walmart corporate officials to find out what it is doing to rectify these issues. In an email, Walmart spokeswoman Ashley Nolan said, "We are testing an enhanced electronic shelf labeling initiative and improved handheld app capabilities to help associates with price confirmation and adjustment when needed." But weights and measures says the problem is bigger than just one Walmart store. "Inflation is causing the prices to go up and staffing problems mean they can't get around to change the shelf prices as quickly as they need to," said Chad Parker, the measurement section manager of the North Carolina Agriculture and Consumer Services Department's Weights and Measures Division. As evidence of that, Parker said fines for incorrect prices have jumped from an average of $50,000 annually to more than $500,000 in the last year. The problem is so bad, Parker said his people can't keep up with it. "Our workload with failed scans has increased by 1000 percent in the past year," said Parker. "We don't have the manpower to keep up with a 1000 percent increase in that area." So, you have to be your own advocate. Source: CBS 17 Aug 11, 2022: First Eagle Dumps Alibaba, Buys Walmart First Eagle Investment (Trades, Portfolio) disclosed its second-quarter equity portfolio earlier this month. The New York-based firm, which was founded in 1864, takes a value-oriented approach to investing that prioritizes on-site research by actively visiting companies and talking to management to gain first-hand knowledge of its prospects. It strives to preserve capital over the long term by applying bottom-up fundamental research in order to reduce risk. Based on these considerations, the 13F filing for the the three months ended June 30 showed the firm entered 37 new positions, sold out of 29 stocks and added to or trimmed a number of other existing investment. First Eagle's most notable trades included the divestment of Alibaba Group Holding Ltd. (BABA, Financial), a new stake in Walmart Inc. (WMT, Financial), increased bets on HCA Healthcare Inc. (HCA, Financial) and Ross Stores Inc. (ROST, Financial) and a reduction of the Exxon Mobil Corp. (XOM, Financial) holding. Investors should be aware 13F filings do not give a complete picture of a firm's holdings as the reports only include its positions in U.S. stocks and American depository receipts, but they can still provide valuable information. Further, the reports only reflect trades and holdings as of the most-recent portfolio filing date, which may or may not be held by the reporting firm today or even when this article was published. Alibaba First Eagle sold its 5.71 million remaining shares of Alibaba (BABA, Financial), impacting the equity portfolio by -1.52%. The stock traded for an average price of $98.24 per share during the quarter. GuruFocus estimates the firm lost 41.45% on the investment over its lifetime. The Chinese e-commerce giant has a $255.83 billion market cap; its shares were trading around $96.63 on Thursday with a price-earnings ratio of 55.21, a price-book ratio of 1.85 and a price-sales ratio of 2.06. The GF Value Line suggests the stock is significantly undervalued currently based on historical ratios, past financial performance and analysts' estimates of future earnings. GuruFocus rated Alibaba's financial strength 7 out of 10 despite having inadequate interest coverage. The Altman Z-Score of 2.91 indicates the company is under some pressure. The weighted average cost of capital also eclipses the return on invested capital, meaning the company is struggling to create value as it grows. The company's profitability scored a 9 out of 10 rating. Along with operating and gross margins that are in decline, Alibaba's returns on equity, assets and capital are underperforming over half of its competitors. It also has a moderate Piotroski F-Score of 5 out of 9, indicating conditions are typical of a stable company. Due to a slowdown in revenue growth, the predictability rank of 3.5 out of five stars is on watch. According to GuruFocus research, companies with this rank return an average of 9.3% annually over a 10-year period. Of the gurus invested in Alibaba, David Herro (Trades, Portfolio) has the largest stake with 1.65% of its outstanding shares. PRIMECAP Management (Trades, Portfolio), Ken Fisher (Trades, Portfolio), Dodge & Cox, Ray Dalio (Trades, Portfolio), Al Gore (Trades, Portfolio), Chris Davis (Trades, Portfolio) and several other gurus also have significant positions in the stock. Walmart The firm invested in 1.96 million shares of Walmart (WMT, Financial), allocating 0.67% of the equity portfolio to the stake. Shares traded for an average price of $138.51 each during the quarter. It previously sold out of the stock in 2018. The Betonville, Arkansas-based retail company, which operates the Walmart and Sam's Club chains, has a market cap of $353.33 billion; its shares were trading around $129.14 on Thursday with a price-earnings ratio of 27.72, a price-book ratio of 4.60 and a price-sales ratio of 0.63. According to the GF Value Line, the stock is modestly undervalued currently. Source: GuruFocus Aug 11, 2022: Markdowns may reduce Walmart's second quarter net income by 10% All eyes will be watching Tuesday (Aug. 16) as Walmart reports fiscal second-quarter earnings. With more than 230 million shoppers visiting stores each week, the retail giant is seen as a barometer for the overall economy and consumer spending patterns. The Bentonville-based global retailer is expected to earn a net income of $4.398 billion or $1.60 per share for the second quarter ending July 31. This would be a 10% decline from the $1.78 per share earned in the year-ago period. Revenue is expected to top $155 billion for the quarter, which would be an increase of 7% from a year ago. The lower income and higher revenue will not surprise Wall Street because the retail behemoth recently lowered its own guidance for the remainder of the year, citing heavy markdowns and tighter operating margins amid changing consumer behaviors. The yellow "clearance" balloons have been seen flying around Walmart stores in recent weeks, a further indication the company is trying to move excess inventory ahead of the holiday season. Walmart CEO Doug McMillon recently said runaway inflation is causing shoppers to spend more on necessities such as food and fuel, leaving them less money to purchase items such as clothing and electronics. He said heavy markdowns are necessary because Walmart found itself with too much inventory ordered last year when spending levels were high. Store traffic is expected to be steady, and higher overall pricing is forecast, lifting same-store sale growth an expected 6% in the quarter. McMillon recently said back-to-school sales have been strong, but he anticipates people will pull back on buying general merchandise in the second half of the year. Ben Bienvenu, a retail analyst with Stephens Inc., said the excess inventory has been a double whammy for Walmart as storage costs were higher and now heavy markdowns are reducing profit margins. He maintained his overweight or "buy" rating on Walmart following the recent lower earning guidance announcement and dropped his quarterly earnings forecast to $1.64 per share, the high estimate on the street. (Stephens Inc. conducts investment banking services for Walmart and is compensated accordingly.) Bienvenu and a majority of retail analysts rank Walmart to outperform the overall market in the next year, despite the recent challenges. They say Walmart has the opportunity to grow market share during times of economic downturn because of the company's ability to hold the line on price increases longer than smaller competitors. "While there are certainly limits to this, and we don't expect the company to irrationally price, we believe Walmart's relative pricing gap will be an attractive draw for consumers feeling inflationary pains in their wallets," Bienvenu said. "Walmart's growth in high-value businesses like advertising and healthcare also underpin the terminal value for the company that has been in place for the last several years." Analysts with Zack's Market Research said against a persistently elevated inflationary backdrop, they continue to view Walmart shares as attractively valued, given the company's position as the largest low-price retailer. But challenges regarding margins continue to linger for the unforeseeable future, and that has Zack's backing off of the Walmart bandwagon. Zack's has a "sell" rating on Walmart shares following the recent downward guidance announced by the retailer. Zack's prefers Dollar General and Ulta Beauty, who are each in a better position to deliver higher than expected earnings in the quarter. "Walmart is grappling with supply-chain bottlenecks. The company's consolidated gross profit margin contracted by.87% in the last reported quarter, primarily due to Sam's Club, wherein the gross margin fell by 2.19 %. This was due to supply-chain costs, a fuel mix, inflation and markdowns stemming from the delayed inventory. On its first-quarter earnings call, management stated that it expects the gross margin to remain under pressure in the second quarter, though it is likely to improve sequentially," Zacks noted. The market research firm said while margins are compressed, the retailer is also grappling with rising costs which escalated by 0.39% in the first quarter due to higher U.S. wages. Zack's believes some of the higher costs likely persisted in the second quarter. While margin compression is a real threat to profits, analysts remain bullish about the top-line growth opportunities. "Walmart has been benefiting from its efforts to strengthen store and online operations. It has been undertaking several efforts to enhance merchandise assortments. Also, the company has been focused on store remodeling to upgrade them with advanced in-store and digital innovations. The company's compelling pricing strategy has been helping it draw customers," Zack's noted. Walmart shares (NYSE: WMT) closed Thursday at $129.82, up $1.24. Over the past 52 weeks, the stock has traded between $117.27 and $160.77. The share price is down 10.3% year to date. Source: Talk Business & Politics Aug 10, 2022: Walmart (NYSE: WMT) Is Increasing Its Dividend To $0.56 Simply Wall St Wed, 10 August 2022 at 1:14 am Walmart Inc.'s (NYSE:WMT) dividend will be increasing from last year's payment of the same period to $0.56 on 6th of September. The payment will take the dividend yield to 1.8%, which is in line with the average for the industry. Walmart's Payment Has Solid Earnings Coverage While it is always good to see a solid dividend yield, we should also consider whether the payment is feasible. Based on the last dividend, Walmart is earning enough to cover the payment, but then it makes up 196% of cash flows. The company might be more focused on returning cash to shareholders, but paying out this much of its cash flow could expose the dividend to being cut in the future. Looking forward, earnings per share is forecast to rise by 57.1% over the next year. If the dividend continues along recent trends, we estimate the payout ratio will be 31%, which is in the range that makes us comfortable with the sustainability of the dividend. Walmart Has A Solid Track Record The company has an extended history of paying stable dividends. Since 2012, the annual payment back then was $1.59, compared to the most recent full-year payment of $2.24. This implies that the company grew its distributions at a yearly rate of about 3.5% over that duration. Slow and steady dividend growth might not sound that exciting, but dividends have been stable for ten years, which we think makes this a fairly attractive offer. Dividend Growth May Be Hard To Achieve Investors who have held shares in the company for the past few years will be happy with the dividend income they have received. Unfortunately, Walmart's earnings per share has been essentially flat over the past five years, which means the dividend may not be increased each year. Growth of 1.4% may indicate that the company has limited investment opportunity so it is returning its earnings to shareholders instead. This isn't bad in itself, but unless earnings growth pick up we wouldn't expect dividends to grow either. In Summary Overall, we always like to see the dividend being raised, but we don't think Walmart will make a great income stock. While Walmart is earning enough to cover the payments, the cash flows are lacking. We don't think Walmart is a great stock to add to your portfolio if income is your focus. Market movements attest to how highly valued a consistent dividend policy is compared to one which is more unpredictable. However, there are other things to consider for investors when analysing stock performance. For example, we've picked out 4 warning signs for Walmart that investors should know about before committing capital to this stock. Looking for more high-yielding dividend ideas? Try our collection of strong dividend payers. Source: Yahoo UK Aug 10, 2022: Former Shark Tank Contestant The Little Burros Launching in Lowe's and Walmart Stores Throughout the U.S. Aug 10, 2022, 10:33 ET ALEXANDRIA, Va., Aug. 10, 2022 /PRNewswire/ -- Alexandria, VA-based company The Little Burros turned down royalty deals from Lori Greiner and Kevin O'Leary after pitching their gardening product, The Burro Buddy, on ABC's Shark Tank in 2020. "Turning down a deal, let alone two, from the sharks was a difficult decision but at the end of the day we knew we were already getting traction in the stores and we would regret taking a royalty." shared Mollie Thorsen, COO. The father-daughter pair have persisted in pitching their product to retailers across the U.S., while continuing their online sales and maintaining their existing retail partnerships. They recently were awarded a deal with Lowe's, with The Burro Buddy set to launch in over 1,200 Lowe's stores nationwide on September 5, 2022. This figure represents nearly 75% of Lowe's total nationwide locations. The Little Burros was also one of over 500 companies that attended Walmart's Annual Open Call Event for U.S. Manufacturing companies in June 2022. The company received a coveted "golden ticket" deal from the event, and their product is predicted to be available in 1,100 Walmart stores in the spring of 2023. "There's nothing like The Burro Buddy out there, it really changes the way you work in the yard, so we are really excited to get these into the hands of Lowe's and Walmart customers," expressed Managing Partner Bob Thorsen. Source: PR Newswire Aug 10, 2022: TikToker Accuses Walmart of Charging More at Checkout Than Items Shelf-Sticker Price TikToker @brennasbakery (she goes by Bren on the popular social media platform) said that she noticed a significant discrepancy in online and in-store pricing as opposed to what she was rung up for when she brought all of her items to check-out. Bren posts a number of baking videos on her TikTok account and said that when she looked up prices for ingredients online, which matched the shelf-stickers for the items in store at a local Walmart location. However, six separate items required price adjustments when she finally brought them to the checkout counter, and she blasted the practice as "disgusting" in a now-viral TikTok. She says in the clip: "You guys Walmart is scamming people so listen up. I was just at Walmart I ran there for a few things to get a cake for and online I search Wilton Chocolates they were $2.62 online I went to the store in the aisle it said that they were $2.62. I went to ring them up and they were ringing up for $4.08." Source: Distractify Aug 10, 2022: Former Shark Tank Contestant The Little Burros Launching in Lowe's and Walmart Stores Throughout the U.S. Aug 10, 2022, 10:33 ET ALEXANDRIA, Va., Aug. 10, 2022 /PRNewswire/ -- Alexandria, VA-based company The Little Burros turned down royalty deals from Lori Greiner and Kevin O'Leary after pitching their gardening product, The Burro Buddy, on ABC's Shark Tank in 2020. "Turning down a deal, let alone two, from the sharks was a difficult decision but at the end of the day we knew we were already getting traction in the stores and we would regret taking a royalty." shared Mollie Thorsen, COO. The father-daughter pair have persisted in pitching their product to retailers across the U.S., while continuing their online sales and maintaining their existing retail partnerships. They recently were awarded a deal with Lowe's, with The Burro Buddy set to launch in over 1,200 Lowe's stores nationwide on September 5, 2022. This figure represents nearly 75% of Lowe's total nationwide locations. The Little Burros was also one of over 500 companies that attended Walmart's Annual Open Call Event for U.S. Manufacturing companies in June 2022. The company received a coveted "golden ticket" deal from the event, and their product is predicted to be available in 1,100 Walmart stores in the spring of 2023. "There's nothing like The Burro Buddy out there, it really changes the way you work in the yard, so we are really excited to get these into the hands of Lowe's and Walmart customers," expressed Managing Partner Bob Thorsen. About The Little Burros The Little Burros is a family-run, mission-driven, quality tool line that provides innovative solutions to everyday garden problems. The company prides itself on producing American-made, lasting products that keep its users organized while working on whatever project is at hand. About The Burro Buddy The Burro Buddy is an award-winning garden tray that is thoughtfully designed to store the user's drink, cell phone, short and long handle tools. It allows users to easily organize their wheelbarrow, so they can navigate throughout their yard and complete gardening projects efficiently. Source: PR Newswire Aug 10, 2022: U.S. shares higher at close of trade; Dow Jones Industrial Average up 1.63% 2022-08-10 20:25 Investing.com - U.S. equities were higher at the close on Wednesday, as gains in the Technology, Basic Materials and Consumer Services sectors propelled shares higher. At the close in NYSE, the Dow Jones Industrial Average rose 1.63% to hit a new 3-month high, while the S&P 500 index added 2.13%, and the NASDAQ Composite index gained 2.89%. The biggest gainers of the session on the Dow Jones Industrial Average were Walt Disney Company (NYSE:DIS), which rose 3.98% or 4.30 points to trade at 112.43 at the close. Salesforce.com Inc (NYSE:CRM) added 3.50% or 6.37 points to end at 188.61 and Goldman Sachs Group Inc (NYSE:GS) was up 3.35% or 11.29 points to 347.91 in late trade. Biggest losers included Merck & Company Inc (NYSE:MRK), which lost 0.37% or 0.33 points to trade at 89.19 in late trade. UnitedHealth Group Incorporated (NYSE:UNH) added 0.09% or 0.46 points to end at 537.72 and Walmart Inc (NYSE:WMT) gained 0.21% or 0.27 points to 129.14. The top performers on the S&P 500 were Norwegian Cruise Line Holdings Ltd (NYSE:NCLH) which rose 11.82% to 13.53, Royal Caribbean Cruises Ltd (NYSE:RCL) which was up 9.74% to settle at 41.67 and Carnival Corporation (NYSE:CCL) which gained 9.19% to close at 10.34. The worst performers were CME Group Inc (NASDAQ:CME) which was down 2.24% to 198.40 in late trade, Dollar Tree Inc (NASDAQ:DLTR) which lost 1.76% to settle at 165.97 and Ralph Lauren Corp Class A (NYSE:RL) which was down 1.29% to 95.52 at the close. The top performers on the NASDAQ Composite were Bioatla Inc (NASDAQ:BCAB) which rose 83.10% to 6.61, Amyris Inc (NASDAQ:AMRS) which was up 41.92% to settle at 3.25 and Infinity Pharmaceuticals Inc (NASDAQ:INFI) which gained 39.19% to close at 1.03. The worst performers were Redbox Entertainment Inc (NASDAQ:RDBX) which was down 52.86% to 1.65 in late trade, OPTIMIZERx Corp (NASDAQ:OPRX) which lost 30.02% to settle at 15.57 and IsoPlexis Corp (NASDAQ:ISO) which was down 30.00% to 2.10 at the close. Advancing stocks outnumbered falling ones by 2690 to 467 and 113 ended unchanged; on the Nasdaq Stock Exchange, 2934 rose and 819 declined, while 241 ended unchanged on the New York Stock Exchange. The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was down 9.32% to 19.74 a new 3-month low. In commodities trading, Gold Futures for December delivery was down 0.28% or 5.15 to $1,807.15 a troy ounce. Meanwhile, Crude oil for delivery in September rose 1.14% or 1.03 to hit $91.53 a barrel, while the October Brent oil contract rose 0.74% or 0.71 to trade at $97.02 a barrel. EUR/USD was up 0.88% to 1.03, while USD/JPY fell 1.63% to 132.93. The US Dollar Index Futures was down 1.09% at 105.10. Source: Investing.com Aug 10, 2022: Refurbished Products At Walmart? Why Not? They're Everywhere Else. Aug 10, 2022,08:00am EDT WalmartWMT +0.1% has launched a program selling refurbished appliances and consumer electronics that it says will offer high-quality products at a fraction of the cost of buying them new. "Good as new" is the goal of Walmart Restored, the retailer's latest initiative to help consumers stretch their dollars and build sales outside its core grocery business. For a number of the industry experts on the RetailWire BrainTrust weighing in during an online discussion last week, refurbs in the appliance and consumer electronics categories make sense for Walmart in particular. "Given Walmart's scale and EDLP philosophy, this should be a boon for the Bentonville giant," wrote David Spear, senior partner, industry consulting, retail, CPG and hospitality at TeradataTDC +2.8%. "Walmart customers are the perfect target for a program like this," wrote Brian Delp, CEO of New Sega Home. "AmazonAMZN +2.6% had been offering it for quite some time, but their main handle is convenience and speed while Walmart is mainly known for value. This aligns with their core value system and is sure to be a win." Source: Forbes Aug 10, 2022: Walmart Has a New Idea to Take on Amazon August 10, 2022 11:00 AM In the 1990s, Walmart (WMT) - Get Walmart Inc. Report wasn't just one of the most popular retailers in America, it was also one of the biggest sellers of CDs. But Walmart had policy that they would only carry "family friendly" material, and had what some artists called a heavy, censorious hand. They would card customers for the few R-rated films they carried, and demanded edits to albums. Albums by Eminem and DMX were filled with so many bleeps (in place of curse words) that they often resembled instrumental albums. Walmart wouldn't stock Nirvana's album In Utero until the band reluctantly edited the back album art and changed the song "Rape Me" to "Waif Me." But as streaming took over, retailers had less control over the distribution of entertainment, and Walmart lost its foothold. Walmart's previous attempt to launch a streaming service didn't happen, but now it seems that the company might be taking a different approach. Walmart Is In Talks To Expand A Popular Feature Entertainment didn't just move online in the '00s, so did retail. In an effort to stay competitive with Amazon Prime (AMZN) - Get Amazon.com Inc. Report, the company introduced its membership program Walmart+ in 2020, which costs $98 a year. It's similar to Amazon Prime in that it expedites checkout and gives the customer free shipping. (It also provides discounts on gasoline.) But unlike with Amazon Prime, you don't get access to a library of films, not does the service offer original television series. But you do get six months of Spotify for free. A streaming service, in theory, could help draw in new customers to the Walmart+ subscription. (And would keep those same customers away from Amazon Prime.) The New York Times recently reported that Walmart is interested in adding streaming to its Walmart+ service, but it's not what people think. It would appear that rather than making its own television shows and films, a rather costly endeavor which would require hiring executives and producers away from streaming services and Hollywood studios, it's looking to cut deals with streaming services to license some of their content. "In recent weeks," The Times notes, "executives from Paramount, Disney and Comcast have spoken with Walmart, the people said, as the retailer ponders which movies and TV shows would add the most value to its membership bundle." That said, the report also states "It is unclear whether any of the streaming companies are inclined to reach a deal with Walmart." The possible upside for Paramount (PARA) - Get Paramount Global Report, Disney (DIS) - Get The Walt Disney Company Report and Comcast (CMCSA) - Get Comcast Corporation Class A Common Stock Report, which respectively own Paramount+, Disney+ and Peacock, is that they could earn some licensing fees, and introduce a new audience to some of their material. (We can safely assume that Walmart is only interested in licensing family friendly material. Though who knows, maybe Walmart is feeling spicy enough to license Hulu's Emma Thompson-starring sex-worker film "Good Luck to You, Leo Grande.") There is a precedent for this sort of thing, as streaming services have partnered with companies in order to open up new subscriber bases. Verizon (VZ) - Get Verizon Communications Inc. Report and T-Mobile (TMUS) - Get T-Mobile US Inc. Report have offered free and discounted subscriptions to Disney+ or Netflix+ for signing up. Source: TheStreet Aug 10, 2022: Walmart Opens High-Tech Consolidation Center in Pennsylvania, Creating 1,000 New Jobs August 10, 2022 11:00 AM LEBANON, Pa.--(BUSINESS WIRE)--This month, Walmart will open a high-tech consolidation center in Lebanon, Pa. The new 400,000 square-foot facility, located at 1625 Heilmandale Road, will bring nearly 1,000 additional jobs to the area, 500 of which were hired in advance. Once implemented, the facility's automated technology can enable three times more volume to flow throughout the center and help Walmart deliver the right product to the right store, so customers can find the products they need. The Lebanon consolidation center will service all 42 regional distribution centers across the U.S., with plans to service fulfillment centers in the near future. This building will be the second of its kind in Walmart's supply chain. The first, located in Colton, Calif., opened in 2019. Consolidation centers have a specialized role in moving products quickly on their journey to store shelves, and ultimately, the customer. Each has the ability to receive general merchandise items from suppliers in smaller freight loads, known in the industry as less than a truckload (LTL) and consolidate them into larger freight loads, known as full truckloads (TL). Then the product is shipped to regional distribution centers where it is sorted for distribution to stores. Suppliers will now be able to deliver merchandise to one singular location for consolidation versus shipping separate orders for each of the 42 regional distribution centers. This automation will unlock new benefits for suppliers through simplification of purchase order fulfillment, reduction of lead times and increased speed to customers. "We've made continued investments in our people, facilities and technology to ensure we have the right product, in the right place, at the right time," said Mike Gray, senior vice president, supply chain operations at Walmart. "As part of these investments, the Lebanon facility will provide even more opportunities for small to medium sized suppliers who do not ship nationwide, the ability to provide product to all 4,700 Walmart stores." Walmart's growing modern supply chain network These high-tech consolidation centers support a broader focus on technology within Walmart's supply chain. This year, the retailer announced plans to renovate all 42 regional distribution centers with automated technology. "Walmart is creating the future of supply chain-a modern system that pairs the latest in software and automation technologies, with a highly trained and specialized workforce of Walmart associates-to disrupt the industry as we know it," said David Guggina, senior vice president of innovation & automation, Walmart U.S. "It's an exciting time to join our second high tech consolidation center in Lebanon. At this facility, we're implementing the technologies Walmart will continue to roll out throughout our supply chain network." High-tech consolidation center brings careers to Lebanon Once staffed, Walmart will have 1,000 associates at the Lebanon consolidation center in roles ranging from Freight Handler to Operational Manager. Full-time positions qualify for Walmart's total rewards and benefits plans, including medical, vision and dental insurance, 401(k) matching, paid time off, stock purchase plan and access to a 100% paid college tuition and books through Walmart's Live Better U. Source: Business Wire Aug 10, 2022: Here's What Apple, Walmart, and UPS Just Told Us About the Broader Economy AUG 10, 2022 6:15AM EDT Earnings season is an excellent time to tune in to company conference calls to get a feel for where a business stands and where it could be headed. However, it's important not to overvalue any single earnings call -- and instead -- weave the findings into the broader investment thesis. Aside from following businesses on your radar, it can also be useful to listen to industry leaders and follow macroeconomic data to get a better understanding of how a single company is performing relative to its peers, its industry, and within the context of the broader economy. The stock market has had a volatile 2022, partly because investors are digesting a mixed bag of good and bad indicators. For example, last Friday, the U.S. Bureau of Labor Statistics (BLS) reported a scorching hot jobs report that pushed the unemployment rate down to a multi-decade low of just 3.5%. Recessions usually entail rising unemployment, so the low number signals a healthy consumer. However, the BLS also reported that the consumer price index rose 9.1% for the 12 months ended June 30, 2022, compared to the same period a year ago -- the highest year-over-year reading in over 40 years. Falling energy prices could mean that inflation cools off when the BLS releases the July report Wednesday morning. But there's no denying that the economy finds itself in a strange limbo between inflation, a strong jobs market, and high consumer spending. In addition to macroeconomic readings, Apple (NASDAQ: AAPL), Walmart (NYSE: WMT), and United Parcel Service (NYSE: UPS) just made major announcements that help paint a clearer picture of what's going on across some of the most important sectors of the U.S. economy. Here are key takeaways from each company and how they could impact your investment portfolio. A person smiles while walking down the street and looking at their phone. Image source: Getty Images. The power of brand loyalty Apple's growth slowed in the third quarter of its fiscal 2022. But the company still posted record revenue thanks to strong iPhone and services results. Apple continues to prove why it is the most valuable U.S.-based company. Despite being in the tech sector, which has been one of the worst-performing areas of the market in 2022, the stock is actually beating the S&P 500 year to date and is down just 11% from its all-time high. What's amazing about Apple is that the stock has crushed the market and is up over 600% in 10 years, but it still isn't overpriced, with just a 26.4 price-to-earnings (P/E) ratio. There are a few reasons for this. The first is that Apple has grown its services business, benefited from international growth, and operates a high-margin business that translates into high profits. The second is that the company has reduced its outstanding share count by a staggering 38% in the last 10 years, which boosts earnings per share (EPS). A blemish from Apple's results was lower-than-expected Mac revenue, which was nearly outpaced by the iPad for the quarter. But overall, the tech titan indicated that consumer spending for its products was stronger than expected. Although the iPhone dominates Apple's product mix, it's important to call out its services segment. Services grew 12% in the fiscal third quarter compared to the year-ago period and made up 24% of total revenue. However, services have a far higher gross margin than products. For the quarter, products had a respectable 35% gross margin, which is excellent for a consumer electronics company. However, services had a gross margin of 71%. All told, Apple's core products remain strong, and the company has unlocked a high-margin revenue stream that continues to fuel its bottom-line growth. Dark clouds for the American consumer Walmart won't report earnings until Aug. 16. However, it released a bleak update on July 25 that called for lower-than-expected fiscal Q2 2023 and full-year profits despite higher revenue. Walmart is struggling to offset higher inflation-related costs. It also finds itself with uncomfortably high inventories as customers curb discretionary spending and pivot toward essentials. For Walmart and other big-box retailers, the narrative has completely shifted over the last two years, going from a consumer-driven pandemic-induced buying spree of discretionary goods to a much different buyer profile in 2022. Walmart's updated guidance and the challenges it continues to face are similar to what it reported for Q1. Investors should pay close attention to Walmart's commentary on its second-quarter earnings call because it could reveal further details on the trends pressuring the retail industry. Delivering record results UPS reported earnings on July 26. As expected, package delivery volumes slowed. However, the company said that volumes slowed by more than anticipated, including an 8.2% decline in residential volumes for Q2 2022. But UPS said that it expects volumes to pick up in the second half of the year as companies try to reduce their inventories by marking down items in time for the holiday season. When combining Walmart's commentary with UPS', an investor gets a better sense of how inflation and inventory levels are affecting retailers and package delivery companies. Despite the slowdown in delivery volumes, UPS is guiding for full-year operating margin of 13.7%, alongside record revenue, operating income, and adjusted EPS. And that's coming off incredibly difficult comps in 2021 and 2022. UPS' results and guidance show its ability to pass along higher input costs to its customers. Investors should pay attention to the company's performance during Black Friday and the holiday season, as retailers could offer big sales and require additional shipping services from UPS even if consumer spending for discretionary products remains weak. Reading the broader economy The impact of inflation is rippling far past just consumer demand, but top companies are still excellent long-term buys. Apple showed that a premium product mix paired with its growing services business can overpower economic headwinds. Meanwhile, Walmart's lack of brand differentiation and low-margin, high-volume strategy fell victim to inflationary pressures. UPS displayed different ways to grow its top and bottom line, as well as an ability to pass along costs to consumers. The biggest takeaway from Apple, Walmart, and UPS' results is that industry-leading companies tend to be able to navigate challenges better than their peers. On one hand, Apple and UPS provide discretionary products and services. However, consumer electronics and shipping have become essentials in the modern economy to the point where both companies can offset higher costs even as economic growth slows. Find out why Apple is one of the 10 best stocks to buy now Our award-winning analyst team has spent more than a decade beating the market. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed their ten top stock picks for investors to buy right now. Apple is on the list -- but there are nine others you may be overlooking. Source: Nasdaq Aug 09, 2022: Dollar General, Walmart & Target Stores Fined for Charging Wrong Prices AUG 9, 2022 3:37PM EDT Dozens of stores in North Carolina were fined by the state last week over price scanning errors found during routine inspections. According to a release from the North Carolina Department of Agriculture and Consumer Services' Standards Division, a total of 61 stores in 32 North Carolina counties were fined for price scanning errors that were overcharging customers for items at checkout. Nineteen Walmart stores, 27 Dollar General locations, six Family Dollar stores and two Target stores were fined. Additional retail stores fined included four Advance Auto Parts, as well as individual Pet Supplies Plus, Compare Foods and Petsmart locations. Two Dollar General stores were the worst offenders. The locations in Mecklenburg and Union, N.C. each had to pay $15,000 in fines to the state. An initial inspection of the Mecklenburg location in Nov. 2021 found a 24% error rate based on 12 overcharges in a 50-item lot. Subsequent inspections in Dec. 2021, February and April found 20.67%, 20% and 20% error rates, respectively. The store will be reinspected. As for the Union Dollar General location, an initial inspection last October found a 20% error rate based on 10 overcharges in a 50-item lot. Subsequent inspections in Nov. 2021, February, March and April found 20.67%, 21%, and 12.33% error rates, respectively. The store passed inspection in June. The fines were collected by the North Carolina Department of Agriculture and Consumer Services' Standards Division, a regulatory agency responsible for ensuring equity, safety and quality in the marketplaces of the state. According to the agency, it conducts periodic, unannounced inspections of price scanner systems in businesses to check for accuracy between the prices advertised and the prices that ring up at the register. "If a store has more than a 2% error rate on overcharges, inspectors discuss the findings with the store manager and conduct a more intensive follow-up inspection later," the agency said. "Undercharges are also reported, but do not count against a store." The agency added that penalties are assessed if a store fails a follow-up inspection. In addition to the penalties paid, the store will be subject to re-inspection every 60 days from the last inspection until it meets the 2% or less error rate. Additional penalties may be assessed if a store fails a re-inspection. "Our Standards Division continues to see a significant increase in stores with price scanner errors, as many stores continue to deal with staffing shortages," Agriculture Commissioner Steve Troxler, said in a statement. "Overcharges cost consumers so we remain vigilant in inspecting stores in order to protect consumers. It is always a good practice for consumers to check their receipts as well as the price on the shelf to make sure that they are paying the correct amount and alert managers if they are not correct." The most recent round of fines wasn't the first time stores in North Carolina have been caught overcharging customers. Seven stores were fined in the first quarter of 2022, including multiple Walmart and Dollar General locations. In total, 42 stores were fined earlier this year, according to state officials. Source: Footwear News Aug 09, 2022: Walmart (NYSE: WMT) Is Increasing Its Dividend To $0.56 Walmart Inc.'s (NYSE:WMT) dividend will be increasing from last year's payment of the same period to $0.56 on 6th of September. The payment will take the dividend yield to 1.8%, which is in line with the average for the industry. Walmart's Payment Has Solid Earnings Coverage While it is always good to see a solid dividend yield, we should also consider whether the payment is feasible. Based on the last dividend, Walmart is earning enough to cover the payment, but then it makes up 196% of cash flows. The company might be more focused on returning cash to shareholders, but paying out this much of its cash flow could expose the dividend to being cut in the future. Looking forward, earnings per share is forecast to rise by 57.1% over the next year. If the dividend continues along recent trends, we estimate the payout ratio will be 31%, which is in the range that makes us comfortable with the sustainability of the dividend. Walmart Has A Solid Track Record The company has an extended history of paying stable dividends. Since 2012, the annual payment back then was $1.59, compared to the most recent full-year payment of $2.24. This implies that the company grew its distributions at a yearly rate of about 3.5% over that duration. Slow and steady dividend growth might not sound that exciting, but dividends have been stable for ten years, which we think makes this a fairly attractive offer. Dividend Growth May Be Hard To Achieve Investors who have held shares in the company for the past few years will be happy with the dividend income they have received. Unfortunately, Walmart's earnings per share has been essentially flat over the past five years, which means the dividend may not be increased each year. Growth of 1.4% may indicate that the company has limited investment opportunity so it is returning its earnings to shareholders instead. This isn't bad in itself, but unless earnings growth pick up we wouldn't expect dividends to grow either. In Summary Overall, we always like to see the dividend being raised, but we don't think Walmart will make a great income stock. While Walmart is earning enough to cover the payments, the cash flows are lacking. We don't think Walmart is a great stock to add to your portfolio if income is your focus. Market movements attest to how highly valued a consistent dividend policy is compared to one which is more unpredictable. However, there are other things to consider for investors when analysing stock performance. For example, we've picked out 4 warning signs for Walmart that investors should know about before committing capital to this stock. Looking for more high-yielding dividend ideas? Try our collection of strong dividend payers. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Source: Yahoo UK Aug 09, 2022: Ex-Dividend Reminder: Walmart, Rush Enterprises and Essential Utilities AUG 9, 2022 1:28PM EDT Looking at the universe of stocks we cover at Dividend Channel, on 8/11/22, Walmart Inc (Symbol: WMT), Rush Enterprises Inc. (Symbol: RUSHA), and Essential Utilities Inc (Symbol: WTRG) will all trade ex-dividend for their respective upcoming dividends. Walmart Inc will pay its quarterly dividend of $0.56 on 9/6/22, Rush Enterprises Inc. will pay its quarterly dividend of $0.21 on 9/12/22, and Essential Utilities Inc will pay its quarterly dividend of $0.287 on 9/1/22. As a percentage of WMT's recent stock price of $128.58, this dividend works out to approximately 0.44%, so look for shares of Walmart Inc to trade 0.44% lower - all else being equal - when WMT shares open for trading on 8/11/22. Similarly, investors should look for RUSHA to open 0.43% lower in price and for WTRG to open 0.56% lower, all else being equal. Below are dividend history charts for WMT, RUSHA, and WTRG, showing historical dividends prior to the most recent ones declared. In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 1.74% for Walmart Inc, 1.71% for Rush Enterprises Inc., and 2.25% for Essential Utilities Inc. In Tuesday trading, Walmart Inc shares are currently up about 0.8%, Rush Enterprises Inc. shares are up about 0.8%, and Essential Utilities Inc shares are up about 0.6% on the day. Source: Talk Business & Politics Aug 09, 2022: Dollar General, Walmart & Target Stores Fined for Charging Wrong Prices AUG 9, 2022 3:37PM EDT Dozens of stores in North Carolina were fined by the state last week over price scanning errors found during routine inspections. According to a release from the North Carolina Department of Agriculture and Consumer Services' Standards Division, a total of 61 stores in 32 North Carolina counties were fined for price scanning errors that were overcharging customers for items at checkout. Nineteen Walmart stores, 27 Dollar General locations, six Family Dollar stores and two Target stores were fined. Additional retail stores fined included four Advance Auto Parts, as well as individual Pet Supplies Plus, Compare Foods and Petsmart locations. Two Dollar General stores were the worst offenders. The locations in Mecklenburg and Union, N.C. each had to pay $15,000 in fines to the state. An initial inspection of the Mecklenburg location in Nov. 2021 found a 24% error rate based on 12 overcharges in a 50-item lot. Subsequent inspections in Dec. 2021, February and April found 20.67%, 20% and 20% error rates, respectively. The store will be reinspected. As for the Union Dollar General location, an initial inspection last October found a 20% error rate based on 10 overcharges in a 50-item lot. Subsequent inspections in Nov. 2021, February, March and April found 20.67%, 21%, and 12.33% error rates, respectively. The store passed inspection in June. The fines were collected by the North Carolina Department of Agriculture and Consumer Services' Standards Division, a regulatory agency responsible for ensuring equity, safety and quality in the marketplaces of the state. According to the agency, it conducts periodic, unannounced inspections of price scanner systems in businesses to check for accuracy between the prices advertised and the prices that ring up at the register. "If a store has more than a 2% error rate on overcharges, inspectors discuss the findings with the store manager and conduct a more intensive follow-up inspection later," the agency said. "Undercharges are also reported, but do not count against a store." The agency added that penalties are assessed if a store fails a follow-up inspection. In addition to the penalties paid, the store will be subject to re-inspection every 60 days from the last inspection until it meets the 2% or less error rate. Additional penalties may be assessed if a store fails a re-inspection. "Our Standards Division continues to see a significant increase in stores with price scanner errors, as many stores continue to deal with staffing shortages," Agriculture Commissioner Steve Troxler, said in a statement. "Overcharges cost consumers so we remain vigilant in inspecting stores in order to protect consumers. It is always a good practice for consumers to check their receipts as well as the price on the shelf to make sure that they are paying the correct amount and alert managers if they are not correct." The most recent round of fines wasn't the first time stores in North Carolina have been caught overcharging customers. Seven stores were fined in the first quarter of 2022, including multiple Walmart and Dollar General locations. In total, 42 stores were fined earlier this year, according to state officials. Source: Footwear News Aug 09, 2022: Several Target, Walmart, dollar stores fined for overcharging customers in Charlotte area August 09, 2022 at 5:50 pm EDT CHARLOTTE - The state of North Carolina fined several Charlotte-area stores because prices at the register were more than those for products on the shelves. The State Department of Agriculture and Consumer Services said it happened in the second quarter of 2022. The agency stated that 61 North Carolina stores were ordered to pay fines for price-scanning errors in 32 counties. The stores included: Dollar Generals on The Plaza, Albemarle Road and South Boulevard in Charlotte Target near Northlake Mall in Charlotte Walmarts on Pineville-Matthews Road, North Tryon Street and Wilkinson Boulevard in Charlotte, and on Bryton Town Center Drive in Huntersville Other stores that were fined are in Catawba, Iredell, Rowan, Stanly, Union and Watauga counties. "Our Standards Division continues to see a significant increase in stores with price scanner errors, as many stores continue to deal with staffing shortages. Overcharges cost consumers so we remain vigilant in inspecting stores in order to protect consumers," said Agriculture Commissioner Steve Troxler. "It is always a good practice for consumers to check their receipts as well as the price on the shelf to make sure that they are paying the correct amount and alert managers if they are not correct." In July, several Dollar General and Walmart stores in Iredell and Union counties were accused of the same. Pay attention at checkout Shopper Tonia Bost said she recently was charged more at checkout because of a pricing error. "You get up there and then you know the bill is much higher," she told Channel 9. "Like, what happened here?" State inspector Chad Parker said consistent rising prices and staffing shortages could cause confusion. He believes that fines will encourage stores to verify prices on shelves with the price at checkout. "That gets their attention and corporate reaches out to us," said Parker, with the North Carolina Department of Agriculture and Consumer Services. Experts said to take photos of the stickers on store shelves and then compare those prices at the register or on the receipt when you get home. If you catch the error at the store, ask for a price adjustment. If that happens repeatedly, you may want to call for an inspection. "Nobody likes to be overcharged and you know most people are having a hard time right now, paying these inflated prices," Parker said. The key is to pay attention, or you'll end up paying more at the counter. Consumers, who want to file a complaint about scanner errors, can call the Standards Division at 984-236-4750. Source: WSOC TV Aug 09, 2022: Walmart Builds on Its Biggest Edge Over Amazon Walmart has deep roots in brick-and-mortar retailing, but Chief Executive Doug McMillion has long understood that the company needs to invest heavily in technology. That effort has not always been smooth sailing. The retail giant bought Jet.com in 2016 for $3.3 billion largely to acquire its management team, led by Marc Lore, and its technology. That deal was either a giant failure or a huge success depending upon how you look at it. The retailer shut down Jet.com after a few years, having done very little with the brand. Lore, however, ran Walmart's digital operations and forced the store (over the objections of many of its longtime leaders) to invest in its supply chain and online operations. Lore, supported by McMillon, understood that Walmart had to directly take on Amazon's key advantage -- free two-day delivery. He pushed the chain to make the same offer (admittedly on a much smaller set of products) and forced Walmart to spend billions to keep up. That turned the chain from a brick-and-mortar leader into a true omnichannel operation. Walmart can use its vast network of stores to support online orders, buy-online-pickup-in-store, or buy-online-return-in-store, as well as curbside pickup and grocery delivery. Walmart may not have Amazon's (AMZN) - Get Amazon.com Inc. Report pure digital-first DNA, but it has pushed its way into being a viable competitor online as well as in its stores. Now, the retail giant has made a purchase designed to support its continued supply chain and logistics battle with its key rival. Walmart Makes a Key Purchase The pandemic has made consumers acutely aware of supply-chain issues. Nobody really thought twice about a favored item occasionally being out of stock before stores started running out of toilet paper. Walmart Makes a Key Purchase The pandemic has made consumers acutely aware of supply-chain issues. Nobody really thought twice about a favored item occasionally being out of stock before stores started running out of toilet paper. Now, to help make that happen, Walmart has purchased a company that will help its suppliers have a better picture of what's happening in stores. The company reported the news in a release. "Walmart is acquiring Volt Systems, a technology company that provides suppliers with enhanced on-demand visibility into merchandising resources," Walmart said. "The application delivers current store-level data, actionable analytics, and shelf intelligence for suppliers to plan, forecast, and optimize product assortment." The goal is to give customers "a more seamless omnishopping experience, with reduced friction due to out-of-stocks." Walmart Has One Big Advantage Over Amazon Walmart has smartly leaned into its biggest advantage over Amazon -- its network of stores. The chain can offer services like curbside pickup and enabling customers to look at an item -- like, say, a television or a piece of exercise equipment -- then have it shipped to their home. That's something its biggest rival cannot do. Omnichannel shopping means customers can mix and match in-store and online as they see fit. Walmart has nearly 5,000 stores across the U.S. "For most people in the United States, a Walmart is literally just down the road. The median distance to a Walmart in the United States is 4.2 miles," according to Thomas J. Holmes, a professor of economics at the University of Minnesota and a research department consultant at the Federal Reserve Bank of Minneapolis. That's a huge edge for Walmart that Amazon can't match. It's also a way for the company to compete on speed and convenience without having to spend the billions its digital rival has spent building out its delivery capacities. Source: TheStreet Aug 09, 2022: Walmart Acquires Bolt Systems To Advance Omnichannel Capabilities Aug 9, 2022,06:14pm EDT WalmartWMT +0.1% has acquired Volt Systems, a technology company that provides suppliers with enhanced on-demand visibility into merchandising resources, and reaffirms the retailer's goal of giving customers an omnichannel shopping experience that's seamless. The application optimizes the product assortment by making available current store-level data, actionable analytics, and shelf intelligence for suppliers to plan and forecast to reduce out-of-stocks, which many retailers have been grappling with during the Covid-19 pandemic. The terms of the deal were not disclosed. "The deal affirms Walmart's continued investment in technology and innovation that enables us to better anticipate customer demand," the retailer said. "We're acquiring Volt Systems outright, including the company, talent, technology, and customer agreements." Walmart has been doubling down on technology, a strategy that's been accelerated by the pandemic. The retailer had been rebuilding its technology platforms and capabilities with acquisitions, however the Volt purchase is different than some of the sexy purchases Walmart made when Marc Lore was heading ecommerce. Lore, who joined Walmart in 2016 when the retailer bought his Jet.com for 3.3 billion, went on a buying spree, snatching up online retailers such as Modcloth, which was ultimately sold. Bonobos fared better. It was acquired in 2017 for $317 million, and recently launched a new brand, Bonobos Fielder, which is sold online on the retailer's web site. Source: Forbes Aug 09, 2022: Ex-Dividend Reminder: Walmart, Rush Enterprises and Essential Utilities AUG 9, 2022 1:28PM EDT Looking at the universe of stocks we cover at Dividend Channel, on 8/11/22, Walmart Inc (Symbol: WMT), Rush Enterprises Inc. (Symbol: RUSHA), and Essential Utilities Inc (Symbol: WTRG) will all trade ex-dividend for their respective upcoming dividends. Walmart Inc will pay its quarterly dividend of $0.56 on 9/6/22, Rush Enterprises Inc. will pay its quarterly dividend of $0.21 on 9/12/22, and Essential Utilities Inc will pay its quarterly dividend of $0.287 on 9/1/22. As a percentage of WMT's recent stock price of $128.58, this dividend works out to approximately 0.44%, so look for shares of Walmart Inc to trade 0.44% lower - all else being equal - when WMT shares open for trading on 8/11/22. Similarly, investors should look for RUSHA to open 0.43% lower in price and for WTRG to open 0.56% lower, all else being equal. Below are dividend history charts for WMT, RUSHA, and WTRG, showing historical dividends prior to the most recent ones declared. In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 1.74% for Walmart Inc, 1.71% for Rush Enterprises Inc., and 2.25% for Essential Utilities Inc. In Tuesday trading, Walmart Inc shares are currently up about 0.8%, Rush Enterprises Inc. shares are up about 0.8%, and Essential Utilities Inc shares are up about 0.6% on the day. Source: Nasdaq Aug 09, 2022: Report: To make Walmart order, Canoo will outsource production Bloomberg reported the news Monday (Aug. 8) following the EV maker's second-quarter earnings call. In the Bloomberg report, Canoo did not disclose the contractor it would use to produce its debut EV by the end of the year. Canoo CEO Tony Aquila made the comments in a conference call with analysts. Aquila said Canoo plans to start producing Walmart's vehicles by the end of the year and deliver the first cars by early next year. In July, Canoo announced that Walmart had signed a definitive agreement to buy 4,500 delivery vehicles, with an option of buying up to 10,000. The financial terms of the deal were not disclosed. Canoo announced last year that it selected Bentonville as its headquarters and Pryor, Okla., as the site for its U.S. manufacturing. The mobility company has also signed a 10-year lease to occupy a new 270,000-square-foot industrial building at 4700 S.W. Regional Airport Blvd. in Bentonville. In Monday's earnings report, Canoo said it has more than $1 billion in its sales pipeline, with about 17% of its units under contract. The company also has contracts with the U.S. Army and NASA. The EV startup, which intends to relocate its corporate headquarters to Bentonville at some point from Texas, finished the first half of 2022 with just $33.8 million in cash/cash equivalents. It posted a loss of $164.4 million in the second quarter. That's up from $112.6 million in the second quarter of last year. Canoo shares traded nearly 16% lower in the morning session Tuesday. The stock recorded a high price of $13.35 and a low price of $1.75 within the past 52 weeks. Source: Talk Business & Politics Aug 08, 2022: S.D. cookie company 'wins the Super Bowl' after closing deal with Walmart Aug. 8, 2022 A South Dakota-based company earned its "golden ticket" this summer and will appear on Walmart shelves beginning in April 2023. Muddy Bites, based in North Sioux City, was started four years ago by Jarod Steffes and Tyler Devos. After becoming the No. 4 best-selling cookie on Amazon and selling its product in Hy-Vee and Fareway grocery stores in the region, the company pitched its business to the retail Goliath in its annual "open call" event this summer. They were one of 4,500 businesses to apply and about 1,100 to pitch their product to Walmart and Sam's Club buyers in June. Now, they're one of 330 products to make the cut. "This is your Super Bowl if you're a startup brand," president Michael Parisi said. "If you can crack the code to work with such a powerhouse, you go for it." Muddy Bites will ramp up production to meet its April deadline, but the deal also opens doors for the young company to work with other name brands, Parisi said. CEO and co-founder Steffes, 26, grew up in Grandville, Iowa, and graduated high school in Le Mars, Iowa, the "Ice Cream Capital of the World" and home to Blue Bunny Ice Cream. Steffes remembers the hallmark of his childhood summers there: the annual Ice Cream Days, where the city would shut down the streets to celebrate ice cream, and eating sundae cones, which are vanilla ice cream in a waffle cone with the top dipped in chocolate and covered with peanuts and waffle cone pieces. After dropping out of school at Iowa State University, Steffes got the idea of re-creating that last bite of the sundae cones and believed he had a viable product. He recruited Devos to create the waffle cone bites filled with chocolate, "sell them in a bag and see how it goes." It's going well. "We're building one of the most nostalgic products on the market," Steffes said. Parisi represented Muddy Bites at Walmart's open call event, spending two days in Alabama pitching the product to buyers. The atmosphere was "electric," he said. In 2013, Walmart pledged to spend $250 billion over 10 years on products made, grown or assembled in the U.S. and uses the open call to find new products that fit such a description. Last year, Walmart committed to an additional $350 billion through 2031. "Investing in U.S. manufacturing is not only the right thing to do for the country's long-term economic health, it's the right thing to do for customers today who are dealing with historic inflation," Doug McMillon, president and CEO of Walmart Inc., said in a news release. "We're excited that more and more great products at strong price points are being produced in the U.S. Our $350 billion investment in items made, grown or assembled in the U.S. helps deliver our customers the goods they need, when they need them, at affordable prices, while supporting the creation of more than 750,000 jobs." Muddy Bites was already doing well before the Walmart deal as one of Amazon's top sellers and with a strong TikTok and Instagram following of over 75 million views, but this contract will propel the business forward, the founders said. "Everyone sees the credibility of Walmart and what it could scale to," Parisi said. "That's the power and beauty of Walmart is that you get resources from the world's largest retailer, and then you put those resources back into the company. Oftentimes, that's money in people's pockets." The company is planning to expand machinery and add more jobs to boost production - not only for the Walmart contract but also with the expectation that they'll be making deals with other retailers to sell their treats. "We have that momentum now, and we'll put this back into the business because we're going to grow," Parisi said. "Now, we'll execute the game plan." Source: SiouxFalls.Business Aug 08, 2022: Walmart Doubles Down on Tech With Latest Acquisition Walmart Inc. is acquiring technology company Volt Systems, which provides suppliers with on-demand visibility into merchandising resources, along with store-level data, actionable analytics and shelf intelligence. Volt's insights allow suppliers to plan, forecast and optimize product assortment, giving customers a more seamless shopping experience with less friction due to out-of-stocks. Volt's suite of technology solutions includes Omnichannel Engagement, Vendor Relationship Management and Product Tracking. Walmart will acquire Volt outright, including the company, talent, technology and customer agreements. "The deal affirms Walmart's continued investment in technology and innovation that enables us to better anticipate customer demand," the retailer said. Each week, approximately 230 million customers and members visit Walmart's more than 10,500 stores and numerous e-commerce websites under 46 banners in 24 countries. Bentonville, Ark.-based Walmart U.S. is No. 1 on The PG 100, Progressive Grocer's 2022 list of the top food and consumables retailers in North America. Source: News Briefs | Progressive Grocer Aug 08, 2022: India's Paytm at near 6-month high as quarterly revenue surges Shares of Indian digital payments firm Paytm jumped more than 6% on Monday to their highest levels in nearly six months, after the company's parent firm One 97 Communications Ltd posted an 89% surge in its quarterly revenue Higher number of monthly users, additional payment devices, and more disbursal of loans lifted the company's revenue to 16.8 billion rupees ($211.16 million), from 8.91 billion rupees last year. Investors appeared to show scant response to the company's wider loss of 6.44 billion rupees posted in its quarterly update after market close on Friday. Paytm, which competes with Google's payment app and Walmart Inc's PhonePe in India's digital payments market, said it is on track to achieve operational profitability by September 2023. "The notable print in the results was a sharply increased gross margin print in payments business resulting in expansion in contribution margins to 13bps," J.P. Morgan analysts said in a note on Monday. Processing charges of the company, backed by China's Ant Group and Japan's SoftBank Group Corp, fell 10.4% to 6.94 billion rupees sequentially. "The management clarified that it could negotiate better deals with their bank partners, and rationalised certain low margin online merchant accounts that resulted in lower payment processing charges," Macquarie analysts said in a note. Shares of the company were up 6% at 830.5 rupees, as of 0648 GMT. Source: The Hindu Aug 08, 2022: Paytm at near six-month high by over 6% as quarterly revenue surges August 8, 2022 14:38 IST Shares of Indian digital payments firm Paytm jumped more than 6% on Monday to their highest levels in nearly six months, after the company's parent firm One 97 Communications Ltd posted an 89% surge in its quarterly revenue. Higher number of monthly users, additional payment devices and more disbursal of loans lifted the company's revenue to 16.8 billion rupees ($211.16 million), from 8.91 billion rupees last year. Investors appeared to show scant response to the company's wider loss of 6.44 billion rupees posted in its quarterly update after market close on Friday. Paytm, which competes with Google's payment app and Walmart Inc's PhonePe in India's digital payments market, said it is on track to achieve operational profitability by September 2023. "The notable print in the results was a sharply increased gross margin print in payments business resulting in expansion in contribution margins to 13bps," J.P. Morgan analysts said in a note on Monday. Processing charges of the company, backed by China's Ant Group and Japan's SoftBank Group Corp, fell 10.4% to 6.94 billion rupees sequentially. "The management clarified that it could negotiate better deals with their bank partners, and rationalised certain low margin online merchant accounts that resulted in lower payment processing charges," Macquarie analysts said in a note. Shares of the company were up 6% at 830.5 rupees, as of 0648 GMT. ($1 = 79.5600 Indian rupees) Source: Business Standard Aug 08, 2022: Walmart Shopper Claims the Store Is "Ripping You Off" by Doing This Walmart is sometimes lauded for its customer service and the breadth of products it sells, but that pales in comparison to the one thing the retailer is most consistently celebrated for: its low prices. Millions of shoppers go to their local Walmart store every single day to buy the products they need at more affordable costs. But now, one shopper is claiming the retailer is using its good reputation to take advantage of customers-and her accusation has gone viral. Read on to find out why a shopper says that Walmart is "ripping you off." Walmart has already been linked to monetary concerns at least once this year. Back in June, the Federal Trade Commission (FTC) filed a lawsuit against the big-box retailer, alleging that the company had "turned a blind eye" to fraudsters using its money transfer services for years. According to the agency, investigations by law enforcement found that scammers were able to receive fraudulent payments obtained by various schemes at Walmart stores because the company failed to "properly secure" its money transfer services. This included Walmart not properly training its employees, failing to warn customers, and using procedures to allow con artists to take out cash, despite the FTC's complaint claiming that Walmart "knew about the role" its money transfer services played in scams and frauds. "While scammers used its money transfer services to make off with cash, Walmart looked the other way and pocketed millions in fees," Samuel Levine, director of the FTC's Bureau of Consumer Protection, said in a statement. Now, a Walmart customer has accused Walmart of scamming shoppers out of their money more directly. A TikToker just slammed Walmart with a bold allegation. "You guys, Walmart is scamming people, so listen up," a TikTok user named Brenna said in a now-viral video posted to her account @brennasbakery on July 29. In the video, which has since amassed nearly 50,000 likes, Brenna claimed that Walmart is knowingly overcharging customers for products in its stores. "They're jacking up their prices," she said. "They're ripping you off. I don't know how this isn't a lawsuit yet." Brenna shared her own experience of being overcharged at Walmart in the video, detailing a situation in which she went to her local store to buy Wilton chocolate candy melts for a cake. According to Brenna, the listed price for the product in store and online was $2.62, but at the cash register, the chocolate was ringing up at $4 per package. She said a cashier adjusted the price when she bought it to their attention, but this wasn't the only item she experienced this with. Five other items rang up at higher costs than their listed prices, Brenna claimed. "I understand inflation is making a lot of prices go up," she said in her video. "But if the price is also indicating something online, you can buy it for that price online, and it's that price in the aisle, they're scamming you. They're purposefully marking up prices because most people are not gonna check that when they're checking out." While Brenna's claims have not been independently verified, several Walmart stores have been cited among a list of retailers overcharging customers in North Carolina. According to The Charlotte Observer, at least five Walmart stores in the Charlotte area have recently been fined by the state's Department of Agriculture and Consumer Services' Standards Division for price scanning errors. The newspaper explained that state workers conduct periodic, unannounced inspections in retail stores to see if the prices listed on shelves match prices ringing up at the register. As a result of these investigations, multiple Walmart stores have been forced to pay between $1,700 and $11,800 in fines for error rates ranging between 4 and 12 percent. "It is always a good practice for consumers to check their receipts as well as the price on the shelf to make sure that they are paying the correct amount and alert managers if they are not correct," Agriculture Commissioner Steve Troxler said in a news release, per The Charlotte Observer. Best Life has reached out to Walmart for comment on Brenna's video, but has not yet heard back. Source: Best Life Aug 08, 2022: Several Target, Walmart, dollar stores fined for overcharging customers in Charlotte area August 08, 2022 at 8:41 am EDT CHARLOTTE - The state of North Carolina fined several Charlotte-area stores because prices at the register were more than those for products on the shelves. The State Department of Agriculture and Consumer Services said it happened in the second quarter of 2022. 61 North Carolina stores were ordered to pay fines for price-scanning errors in 32 counties. The stores included: Dollar Generals on The Plaza, Albemarle Road and South Boulevard in Charlotte Target near Northlake Mall in Charlotte Walmarts on Pineville-Matthews Road, North Tryon Street and Wilkinson Boulevard in Charlotte, and on Bryton Town Center Drive in Huntersville Other stores that were fined are in Catawba, Iredell, Rowan, Stanly, Union and Watauga counties. "Our Standards Division continues to see a significant increase in stores with price scanner errors, as many stores continue to deal with staffing shortages. Overcharges cost consumers so we remain vigilant in inspecting stores in order to protect consumers," said Agriculture Commissioner Steve Troxler. "It is always a good practice for consumers to check their receipts as well as the price on the shelf to make sure that they are paying the correct amount and alert managers if they are not correct." In July, several Dollar General and Walmart stores in Iredell and Union counties were accused of the same. Source: WSOC TV Aug 08, 2022: Honest Company Expands Ulta Pact AUGUST 8, 2022 Digital consumer goods firm Honest Company Inc. expanded its partnership with beauty retailer Ulta Beauty Inc. with the launch at 635 in-store locations in an effort to combat soft online sales. Playa Vista-based Honest Co., founded by actress Jessica Alba, will offer its skincare line, Honest Beauty Clearing Collection, through Ulta both online and in stores. Honest Co. believes the expansion into brick-and-mortar Ulta stores, which was announced in July, will help its products reach Ulta consumers that may have previously been unaware of the brand or unsure where to find it. "We see a huge opportunity to meet the needs of the clean and conscious beauty consumer with Ulta Beauty," said Alba in a press release. "We are thrilled to expand our partnership to bring our best-in-class products to guests in-stores nationwide." Honest Co. launched in 2012 with an eye toward selling what it dubs "thoughtfully formulated, safe and effective personal care, beauty, baby and household products." According to the company, it has banned more than 3,500 questionable materials from its products. The firm has its own in-house toxicologist to evaluate the safety of each ingredient that goes into its formulas. Prior to the partnership with Ulta, Honest Beauty products were available via honest.com, third-party ecommerce partners and approximately 43,000 retail locations across the United States, Canada and Europe. The partnership is part of Honest Co.'s broader push into brick-and-mortar locations to combat slumping online sales. The company saw revenues slip by 15% to $69 million in the first quarter of 2022. "In the face of significant macro headwinds, I'm pleased we are able to maintain our financial outlook for the year," said Nick Vlahos, chief executive at Honest Co., during the company's first-quarter earnings call in May. "Consistent with the expectations we communicated on our last earnings call, the first quarter of 2022 experienced challenging comparisons year-over-year as well as softness in the digital space." Jessica Alba of Honest Co. The company offered its IPO in May 2021 and raised $413 million at a valuation of $1.44 billion. Shares initially sold at $16 apiece, but are now valued at $3.53 per share. The company currently has a market cap of $327 million. The company blamed the downturn on consumers' return to in-store shopping in their product categories, in addition to supply chain constraints that led to many out-of-stock items. Earlier in the month, Honest Co. expanded its partnership with mega-retailer Walmart Inc., with plans to have Honest products on Walmart shelves by this fall. Honest also recently said it would launch supplements and other personal care items online and in-store with GNC Holdings Inc. and grow the Honest brand internationally alongside Asian beauty distributor SuperOrdinary. Source: Los Angeles Business Journal Aug 08, 2022: Walmart Announces Acquisition of Volt Systems to Fortify Customer Insights and Decisioning 08/08/2022 | 09:33am BST BENTONVILLE, Ark. - Walmart is acquiring Volt Systems, a technology company that provides suppliers with enhanced on-demand visibility into merchandising resources. The application delivers current store-level data, actionable analytics, and shelf intelligence for suppliers to plan, forecast, and optimize product assortment. As a result, customers receive a more seamless omni-shopping experience, with reduced friction due to out-of-stocks. The deal affirms Walmart's continued investment in technology and innovation that enables us to better anticipate customer demand. We are acquiring Volt Systems outright, including the company, talent, technology, and customer agreements. About Walmart Walmart Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere - in retail stores, online, and through their mobile devices. Each week, approximately 230 million customers and members visit more than 10,500 stores and clubs under 46 banners in 24 countries and eCommerce websites. With fiscal year 2022 revenue of $573 billion, Walmart employs approximately 2.3 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting corporate.walmart.com, on Facebook at facebook.com/walmart and on Twitter at twitter.com/walmart. Source: Market Screener Aug 08, 2022: Buying These 2 Stocks Is a Good Way to Hedge Against a Market Crash AUG 7, 2022 7:39AM EDT Anyone can choose good stocks when the market is booming, but you have to be more careful when the economy seems to be cooling. Some stocks, even ones associated with strong companies, fall precipitously along with the rest of the market when recessions hit because people have less buying power. There is one tried-and-true way of investing in hard times: Find companies that thrive in recessions, ones that people turn to when money is tight, such as Dollar General (NYSE: DG) and Costco Wholesale (NASDAQ: COST). Both are solid defensive choices for investors in a downturn. Dollar General keeps growing Dollar General chief operating officer Jeffrey Owen was promoted to be the company's CEO last month when Todd Vasos stepped down after seven years. Dollar General's expansion has gone on unbridled by COVID-19, inflation, supply issues, and labor shortages that have baffled other companies. The discount variety store company had 18,356 stores across 47 states as of April 29, making it the largest retailer in the United States in terms of locations. It plans to open 1,110 new stores this fiscal year, along with 1,750 store remodels and 120 store relocations. So far this year, Dollar General's stock is up more than 7%, and the company has a price-to-earnings ratio (P/E) of 25.54. Because it has so many stores, Dollar General has strong pricing power with suppliers. It also has a loyal customer following, often because its stores serve areas that are underserved by retailers -- small towns, low-income neighborhoods, and places where the nearest grocery store may be 20 or more miles away. The company has increased revenue every year since it had its initial public offering (IPO) in 2009. That's not to say the current climate hasn't had an adverse effect, as inflation has cut into its margins. In the first quarter, the company reported revenue of $8.8 billion, up 4.2% year over year, but earnings per share (EPS) were down 14.5% to $2.41. Dollar General was already doing well, and the recession helps its business. It has had five consecutive years of double-digit stock returns and has increased revenue 113.6% over the past 10 years. The company has had increased annual revenue every year since 1987, including from December 2007 to June 2009, which is considered the last recession. Dollar General also has a dividend, which it has raised for five consecutive years by a total of 112%. It just raised its quarterly dividend to $0.55 per share, giving it a yield of 0.87%. That's not especially generous, but it is safe with a cash dividend payout ratio of 27.15%. The company, in its guidance, said it expects another year of double-digit revenue growth (between 10% and 10.5%) and EPS growth between 12% and 14%. Costco: Helping stretch shoppers' and investors' dollars At first glance, Costco appears to be a pricey stock, with a price-to-earnings ratio of 42.69. There's a good reason for that -- the company has been so dependable that investors flock to in when a downturn is looming. Its shares have fallen slightly more than 3% so far this year but are up slightly the past three months. Costco is known for its jumbo-sized toilet paper packages and its $1.50 hot dog-soft drink combos (which are the same price it was in 1984), the type of items budget-minded customers appreciate. The company, which operates 830 warehouses, including 574 in the United States, is made for recessions, but also has great buying power for the less-budget-minded (it sells more wine than any other merchant in the world). Over the past 10 years, its revenue has increased by 97.63%, and its EPS has grown by 189.7%. COST Revenue (Annual) data by YCharts Costo is a members-only discount warehouse that has grown revenue for the past 12 consecutive years. When the last recession hit in 2007, the company went from being the fifth-biggest retailer in the U.S. in terms of revenue to No. 3, behind only Walmart and Amazon, and it has stayed there. The company makes money from its products and from its yearly memberships, which gives it a steady cash flow. This year, through July 3, the company reported that revenue is up by 15.3% compared to the same 44-week period in 2021. In the most recently reported quarter, the third quarter, the company reported revenue of $51.61 billion, up 16.3% year over year, and EPS of $3.04, compared to $2.75 in the third quarter of 2021. In May, the company increased its quarterly dividend from $0.79 to $0.90 a share, the 19th consecutive year it has increased its dividend. The yield is 0.66% and the cash dividend payout ratio is 34.12%, very safe. The company also rewards with investors with special dividends when it is having a strong year. In 2020, it gave investors a special dividend of $10 per share. Like Dollar General, Costco has the type of scale that helps it with inflation because it has pricing power with suppliers. Another big advantage is the company already pays its workers strong wages, so it hasn't been hit as hard by labor shortages as other retailers. Hedging your bet The best thing about these two retail stocks is their steadiness. You're not going to see huge growth spurts, but both companies have consistently grown revenue, year after year, regardless of whether that year has a downturn. They're built to do well in recessions because they have products that can save people money, but even if the current downturn doesn't continue long, the companies will fare well anyway. Source: Nasdaq Aug 08, 2022: Paytm at near six-month high by over 6% as quarterly revenue surges August 8, 2022 14:38 IST Shares of Indian digital payments firm Paytm jumped more than 6% on Monday to their highest levels in nearly six months, after the company's parent firm One 97 Communications Ltd posted an 89% surge in its quarterly revenue. Higher number of monthly users, additional payment devices and more disbursal of loans lifted the company's revenue to 16.8 billion rupees ($211.16 million), from 8.91 billion rupees last year. Investors appeared to show scant response to the company's wider loss of 6.44 billion rupees posted in its quarterly update after market close on Friday. Paytm, which competes with Google's payment app and Walmart Inc's PhonePe in India's digital payments market, said it is on track to achieve operational profitability by September 2023. "The notable print in the results was a sharply increased gross margin print in payments business resulting in expansion in contribution margins to 13bps," J.P. Morgan analysts said in a note on Monday. Processing charges of the company, backed by China's Ant Group and Japan's SoftBank Group Corp, fell 10.4% to 6.94 billion rupees sequentially. "The management clarified that it could negotiate better deals with their bank partners, and rationalised certain low margin online merchant accounts that resulted in lower payment processing charges," Macquarie analysts said in a note. Shares of the company were up 6% at 830.5 rupees, as of 0648 GMT. ($1 = 79.5600 Indian rupees) Source: Business Standard Aug 08, 2022: Walmart acquires merchandising technology provider Walmart is investing in its ability to anticipate customer demand. The discount giant is acquiring Volt Systems, a technology company that develops solutions designed to provide suppliers with enhanced on-demand visibility into merchandising resources. The Volt application delivers current store-level data, actionable analytics, and shelf intelligence for suppliers to use in planning, forecasting, and optimizing product assortment. As a result, Volt intends for end customers to receive a more seamless omnichannel shopping experience, with reduced friction due to out-of-stocks. "The deal affirms Walmart's continued investment in technology and innovation that enables us to better anticipate customer demand," Walmart said in an official statement announcing the acquisition. Walmart adds supply chain capacity Walmart has not specified whether it will provide Volt Systems technology to other companies or keep it in-house as a proprietary solution. Either way, the acquisition is the latest in a series of steps the retailer has taken to bolster its supply chain operations. In February 2022, Walmart built a tech platform that powers its last-mile delivery ecosystem. Agnostic to supply and demand, and built around its own marketplace, the platform uses automation and machine learning to turn a near-infinite number of factors into usable data. As it learns through artificial intelligence (AI), the platform is designed to improve. Walmart is also opening fulfillment centers around the country. These centers are focused on storing millions of items that are picked, packed and shipped directly to customers as soon as the next day. The facilities are part of a broader initiative to add more capacity into Walmart's supply chain as the retailer prepares for growth. Walmart has been ramping up its supply chain infrastructure, from expanding its successful pilot of store-based, high-tech "local fulfillment centers" to applying artificial intelligence to the palletizing of products in its regional distribution centers. More recently, the discount giant said it will fulfill online orders placed on Walmart.com from a hub in Salt Lake City, scheduled to open in summer 2022. The company also plans to build a high-tech distribution center for fresh and frozen groceries in Spartanburg County, S.C., as well as two high-tech supply chain hubs in the Dallas-Fort Worth area and a high-tech center in Lebanon, Tenn. where human associates, artificial intelligence (AI) software, and automated robots working together to ship orders to customers as efficiently as possible. Walmart has also begun using multi-temperature autonomous box trucks from Gatik to move online grocery orders from a fulfillment-only dark store to a nearby Walmart Neighborhood Market store in its headquarters city of Bentonville, Ark. If the company does decide to offer Volt Systems technology as a third-party solutions vendor, it has some experience in that area. Walmart launched Walmart GoLocal to deliver goods to customers of other businesses in August 2021, and has since partnered with e-commerce platform provider Cognetry Labs to provide an integrated white label, turnkey e-commerce delivery solution to mid-sized and independent grocery retailers. Walmart is acquiring Volt Systems outright, including the company, talent, technology, and customer agreements. Based in Bentonville, Ark., Walmart Inc. operates more than 10,500 stores and clubs under 46 banners in 24 countries and e-commerce websites. Source: Chain Store Age Aug 04, 2022: Walmart cuts 200 corporate jobs as costs, inventory weigh Aug 04, 2022 08:54 PM IST Walmart Inc. is eliminating about 200 corporate jobs as it contends with rising costs, bloated inventories and weakening demand for general merchandise. The cuts include staffers in last-mile delivery and merchandising, said people familiar with the matter, who asked not to be named because the matter is private. Walmart will also add an unspecified number of jobs in areas such as e-commerce, health and wellness, ad sales and supply chain, said one of the people. "We're updating our structure and evolving select roles to provide clarity and better position the company for a strong future," the company said in an email Wednesday. "At the same time, we're further investing in key areas and creating new roles to support our growing number of services for our customers, suppliers and the business community." The retail giant is tightening its belt a week after slashing its annual profit forecast for the second time in less than three months. US consumers are pulling back on clothing and durable-goods purchases as soaring inflation raises the cost of food and basic items. That's prompting Walmart to cut prices on general merchandise even as grocery sales -- which are less profitable for the retailer -- continue to rise. The shares fell less than 1% in extended trading in New York. Walmart has dropped 9.8% so far this year, while an S&P 500 index of consumer-staples companies slipped 2.9%. Walmart has more than 100,000 management and professional workers in the US, according to a federal filing. The company, the country's largest private-sector employer, has a total US workforce of almost 1.6 million people. The job cuts were reported earlier by the Wall Street Journal. Inventory Surge Trimming the corporate workforce isn't an unusual move for Walmart, said Jennifer Bartashus, a retail analyst at Bloomberg Intelligence. The Bentonville, Arkansas-based company eliminated hundreds of corporate jobs around the same time of year in 2020. "While job cuts are always a difficult decision, Walmart's growth as a technology-focused company has likely helped introduce more efficiencies and productivity into its operations," Bartashus said. Inventories surged during the company's fiscal first quarter, in part because of a mismatch between customer demand and its merchandise. Walmart is scheduled to report second-quarter earnings Aug. 16. In addition to spending more on groceries because of the highest US inflation in four decades, consumers who were cooped up in their homes earlier in the pandemic have been shifting some dollars to services such as travel and restaurants. Some may also be stepping back from home deliveries as they go out more. As concerns rise about economic activity slowing in the US, other companies have also been shrinking their workforces or tapping the brakes on hiring plans. Ford Motor Co. is preparing to cut as many as 8,000 jobs, Bloomberg News reported last month, citing people familiar with the plan. Meta Platforms Inc., the parent of Facebook, said it was slashing its hiring goals for engineers by at least 30% this year. Alphabet Inc.'s Google told employees last month it would slow hiring the rest of the year. The US Labor Department is scheduled to release its July jobs report Aug. 5. US nonfarm payrolls probably expanded by 250,000 jobs last month, based on estimates compiled by Bloomberg. Source: Hindustan Times Aug 04, 2022: Walmart, Target, Dollar General stores in Charlotte fined for overcharging customers AUGUST 04, 2022 2:36 PM North Carolina is seeing a significant increase in store checkout errors that result in customers paying more, according to a state agency. Eight stores in Mecklenburg County - four Walmarts, three Dollar Generals and one Target - were fined a total of $63,505 for price scanning errors, the N.C. Department of Agriculture and Consumer Services' Standards Division said Wednesday. "It is always a good practice for consumers to check their receipts as well as the price on the shelf to make sure that they are paying the correct amount and alert managers if they are not correct," Agriculture Commissioner Steve Troxler said in the news release. Other fines in the Charlotte area were issued at two stores in Union County, two stores in Rowan County, one in Iredell County and one in Catawba County. In total, the state fined 61 stores in 32 counties for scanner errors recorded in the second quarter of this year. State workers conduct periodic, unannounced inspections in retail stores to see if prices on the shelf match prices at the register. Here's what they found in the Charlotte area: Dollar General at 7322 The Plaza, Charlotte has paid $13,745 in fines. An initial inspection in November 2021 found a 40% error rate, where 20 items out of 50 had the wrong price at checkout. Subsequent inspections from December to June found 23.67%, 16.33%, 8% and 8.67% error rates, respectively. The store will be reinspected. Dollar General at 10018 Albemarle Road, Charlotte has paid $15,000 in fines. An initial inspection in November 2021 found a 24% error rate among 50 items. Subsequent inspections from December to April found 20.67%, 20% and 20% error rates, respectively. The store will be reinspected. Dollar General at 6201 South Blvd., Charlotte has paid $3,480 in fines. An initial inspection in April found a 20% error rate among 50 items. A subsequent inspection in June found 12.33% error rate. The store will be reinspected. Target at 9841 Northlake Centre Pkwy., Charlotte has paid $8,540 in fines. An initial inspection in November 2021 found a 6% error rate among 100 items. Subsequent inspections in December 2021 and February found 7% and 6.67% error rates, respectively. The store passed inspection in April. Walmart at 3209 Pineville-Matthews Road, Charlotte has paid $6,185 in fines. An initial inspection in October 2021 found a 12% error rate among 50 items. Subsequent inspections in November 2021 and February found 5.67% and 9.33% error rates, respectively. The store passed inspection in April. Walmart at 7735 North Tryon St., Charlotte has paid $9,785 in fines. An initial inspection in October 2021 found a 7% error rate among 100 items. Subsequent inspections from November to June found 7%, 9.33% and 7% error rates, respectively. The store passed inspection in June. Walmart at 11145 Bryton Town Center Drive, Huntersville has paid $5,000 in fines. An initial inspection in February found a 10% error rate among 100 items. Subsequent inspections in March and May found 13% and 4.67% error rates, respectively. The store will be reinspected. Walmart at 3240 Wilkinson Blvd., Charlotte has paid $1,770 in fines. An initial inspection in February found an 8% error rate among 100 items. A subsequent inspection in March found a 4.33% error rate. The store passed inspection in May. Dollar General at 1304 Conover Blvd. E., Conover has paid $870 in fines. An initial inspection in February found a 12% error rate among 50 items. A subsequent inspection in March found a 2.67% error rate. The store passed inspection in May. Dollar General at 218 East Plaza Drive, Mooresville has paid $1,320 in fines. An initial inspection in April found a 30% error rate among 50 items. A subsequent inspection in May found a 3.67% error rate. The store will be reinspected. Dollar General at 335 North Salisbury Ave., Spencer has paid $5,000 in fines. An initial inspection in March found a 16% error rate among 50 items A subsequent inspection in April found an 18% error rate. The store will be reinspected. Dollar General at 8790 Woodleaf Road, Woodleaf has paid $810 in fines. An initial inspection in March found a 12% error rate among 50 items. A subsequent inspection in April found a 2.33% error rate. The store will be reinspected. Dollar General at 505 Jones St., Marshville has paid $15,000 in fines. An initial inspection in October 2021 found a 20% error rate among 50 items. Subsequent inspections from November to April found 20.67%, 21%, and 12.33% error rates, respectively. The store passed inspection in June. Walmart at 2101 Younts St., Indian Trail has paid $11,745 in fines. An initial inspection in August 2021 found a 4% error rate among 100 items. Subsequent inspections from September to March found 4.67%, 3.33%, 3.33% and 3% error rates, respectively. The store passed inspection in May. Source: Charlotte Observer Aug 04, 2022: Stock Market Today - 8/5: Stocks Flat as Investors Await July Employment Data U.S. stock-index futures were little changed on Friday ahead of key employment numbers that will provide further clarity on the direction of the economy and whether the Federal Reserve's inflation-fighting rate hikes are impacting corporate hiring plans. Futures tied to the Dow Jones Industrial Average were 0.32%, or 105 points higher, while S&P 500 futures dipped 0.21% and Nasdaq 100 futures were flat. U.S. government debt prices traded lower Friday morning ahead of fresh jobs data. The yield on the benchmark 10-year Treasury note rose to 2.6809% and the yield on the 30-year Treasury bond moved higher to 2.9638%. Yields move inversely to prices. A key focus for investors ahead of the open is July's nonfarm payrolls report, which investors hope will provide additional clues on how the labor market is holding up to the Fed's recent inflation-fighting rate increases and corresponding slowing growth. Analysts polled by FactSet are expecting 258,000 new jobs were added to the economy last month following June's 372,000 gain. Market-watchers are looking for signs that the U.S. labor market, which has remained resilient despite rising rates and a corresponding slowdown in economic growth, will allow the Fed to ease back on its aggressive interest-rate increases. Still, companies including Walmart (WMT) - Get Walmart Inc. Report, Amazon (AMZN) - Get Amazon.com Inc. Report, Tesla (TSLA) - Get Tesla Inc. Report and Robinhood (HOOD) - Get Robinhood Markets Inc. Report have already planned layoffs, and economists expect to see more job losses from companies in construction, technology, retail and finance, among others. Inflation continued to soar in June, with the consumer price index jumping 9.1%. But economists expect inflation has peaked, and are now awaiting signs that job growth now may have as well. Ahead of Friday's market open, shares of Virgin Galactic (SPCE) - Get Virgin Galactic Holdings, Inc. Report were down nearly 10% in premarket trading after the space tourism company said it has postponed the beginning of its commercial flights by another three months, citing delays in work refurbishing its carrier aircraft. Virgin Galactic announced that commercial service is being pushed back to the second quarter of 2023, the latest setback for the debut of its space tourism business. The company had previously pushed back the date from the fourth quarter of this year to the first quarter of next year. AMC Entertainment (AMC) - Get AMC Entertainment Holdings Inc. Class A Report stock, meantime, was down more than 10% after the meme stock mascot announced a special dividend in the form of "Ape" preferred shares. AMC said it will issue a special dividend of one AMC Preferred Equity unit for each share of AMC Class A common stock with a par value $0.01 per share, outstanding at the close of business on Aug. 15. The special dividend is expected to be paid at the close of business on Aug. 19. AMC has applied to list its AMC Preferred Equity Units on the New York Stock Exchange under the symbol "APE," starting Aug. 22. The symbol is a nod to the investors who turned the company into a meme stock, who often refer to themselves as "apes" or "ape nation." Warner Bros. Discovery (WBD) - Get Warner Bros. Discovery Inc. Report shares were down more than 10% after the media giant said it swung to a loss in its first earnings report as a combined entity since Discovery's merger with AT&T's WarnerMedia earlier this year. On the flip side, shares of Lyft (LYFT) - Get Lyft Inc. Report were up more than 12% after the ride-sharing Uber competitor reported stronger-than-expected second-quarter adjusted operating results thanks to cost-cutting and belt-tightening. Lyft on Thursday posted a second-quarter adjusted operating profit of $79.1 million, well ahead of its own projection three months ago and Wall Street's forecasts. Lyft still posted a wider net loss at $377.2 million compared with the year prior. DoorDash (DASH) - Get DoorDash Inc. Class A Report shares, meanwhile, were up more than TK% in in premarket after the delivery app company posted higher revenue in the latest quarter, as consumers stuck to ordering food and household essentials despite restaurant and store re-openings. DoorDash also raised guidance for the year on the total value of orders placed on its platform, even though it said it expects "a softer consumer spending environment" in the second half of the year. Carvana (CVNA) - Get Carvana Co. Class A Report shares were up nearly 9% after the online used-car dealer said it is aggressively cutting costs as demand from consumers remains under pressure and the company faces the prospect of an economic downturn. Source: TheStreet Aug 04, 2022: Walmart Gets Smoked After Layoff Announcement: What's Next For The Retail Stock? There have been some peculiar price movements in individual issues over the last few weeks, instigated by either earnings, forward guidance or corporate news. Perhaps the one with the most puzzling is Walmart Inc WMT +0.06% + Free Alerts, which is the PreMarket Prep Stock of the Day. Head For The Hills: After the close Monday, July 25, Wal-Mart dropped a bomb on shareholders with a rare in-quarter announcement. That was lower guidance, not only for the second quarter, but for all of fiscal 2023. Walmart said it expects adjusted earnings to decline between 8% and 9% in the second quarter and between 11% and 13% for the full year. The company maintained its expectations for comparable sales growth, excluding fuel, of about 3% in the second half of the year. Who Cares? Despite the longer-term guidance cut, investors piled into the issue as it approached the major support level at the $120 area from June. After bottoming on July 26 at $120.06, it rebounded to close at $121.98 and the issue embarked on a four-day winning streak. In a remarkable fashion, the issue not only filled the void in price action from the guidance reduction, but surpassed it. On Monday, the issue peaked at $134.23 and posted its highest close for the recent rebound on Tuesday at $132.68. Both levels are above the closing price prior to the surprise announcement, which was $132.02. More Bad News: Before the open Thursday, The Wall Street Journal reported that after issuing a profit warning last week, Walmart is slashing hundreds of corporate roles in a restructuring effort as well as to save on costs. Of course, eliminating a couple of hundred corporate jobs from a company that has 1.6 million employees is fractional. The fact of the matter is that Bentonville recognizes the need to reduce expenses and alter its way of doing business as it yields fewer profits. PreMarket Prep's Take: When it was being covered on the show Thursday, it was trading flat at $130.50. Co-host Dennis Dick expressed confusion over the recent price action after the guidance cut. "This one is a pitch in the dirt - I am laying off it," he said. The author of this article interpreted the news in a more negative way, as the last two announcements from the company were not good ones. Neither host was willing to attempt to "buy the dip" in the issue until it came into the lower part of its recent trading. It was mentioned that the issue may just find a trading range over the next few months ($120-$134) until the company can improve the fundamental outlook WMT Price Action: Off the opening, investors attempted to shrug off the news with a slightly higher move, but Walmart immediately peaked just above the close at $130.80 and began to move lower. As of 12:15 PM EST, the issue has easily breached Wednesday's low ($129.86), so far falling to $127.34, and is attempting to rebound. If the move lower continues, the next potential daily support level comes in at its July 28 low ($126.27), It should be noted that if the support is breached, the next daily low is not until its July 27 low ($121.03). The stock was down 3.57% at $125.98 Thursday afternoon. Source: Benzinga Aug 04, 2022: Walmart slashes prices on clothes as inflation changes shopping habits Aug. 04, 2022, 6:05 p.m. One of the nation's leading retailers is rolling back prices. Walmart recently announced plans to slash prices on apparel items in an attempt to clear out excess inventory. The moves come as inflation takes center stage across the world. Walmart cited a shift in consumer patterns, as shoppers are focusing on buying food rather than clothes. Currently on Walmart's fashion section of its website, you can find savings of up to 60% off. According to a CNN report this week, Walmart also is laying off about 200 corporate employees. "The increasing levels of food and fuel inflation are affecting how customers spend, and while we've made good progress clearing hardline categories, apparel in Walmart U.S. is requiring more markdown dollars," Doug McMillon, Walmart Inc. president and CEO, said in a press release. Walmart isn't the first retailer to take this approach to combat inflation. Earlier this year, Target announced a plan to cut prices in a similar fashion to fight inflation. Target also cited a shift in shoppers' spending habits because of the rising costs of food and other non-discretionary items. Walmart did not specify exactly how much inventory will be marked down or how long the price cuts would last. The company currently operates 62 stores in New Jersey and over 3,500 nationwide. Source: NJ.com Aug 04, 2022: In Wake of Kentucky Flooding, Walmart Offers Aid to Associates and Communities In times of crisis, we believe in stepping forward to help communities in need. And as we watched floodwaters rise in Kentucky, we knew it was again time to take action. Hundreds of people - from our associates to community members who make our stores part of their daily routine - have lost their homes, lost power or lost access to clean water. That's where we decided to place our focus. Walmart, Sam's Club and the Walmart Foundation have committed $750,000 in water, food and funding to organizations providing relief, and we're working to make essential resources like showers and laundry available in our parking lots and supporting shelters. Since last week, more than 20 Walmart trucks carrying water and essential supplies have arrived in some of the hardest-hit Kentucky communities. And there are more on the way. With each delivery, our drivers and supply chain operators are carrying relief to places like Store 1247 in Hazard, Kentucky, where the promise of clean water and a hot meal can help restore hope to people who have suffered unimaginable loss. Walmart drivers deployed the Mobile Relief Kitchen to prepare meals throughout the day, thanks to contributions from Tyson Foods and Bimbo Bakeries. Mobile showers were also made available, and people could do their laundry thanks to P&G's Tide Loads of Hope. Additionally, to help stave off the higher risk of diseases and bacterial infections like tetanus and hepatitis that occur after major flooding events, we are offering vaccination events in four locations across the area. At the heart of these relief efforts are Walmart associates. Despite being impacted in the same ways as their neighbors, our associates continue keeping local stores open and running, understanding they're fulfilling a need that is perhaps more essential in times of disaster than any other. At Store 693 in Jackson, Kentucky, associates are working to provide essential services and supplies to anyone needing them. Community members and associates alike are welcome to use any available services at their local Walmart stores - and are encouraged to share available amenities with friends and neighbors. You can reference the drop-down menu below to learn more about where certain services are available: The people of Kentucky face a long road to recovery. But as always, we believe in the power of community and will continue our work to support our associates, families and friends as they rebuild. Source: Walmart Inc. Aug 04, 2022: Midday Movers: Coinbase, Eli Lilly, ConocoPhillips and More 2022-08-04 17:43 Investing.com -- U.S. stocks wobbled on Thursday as investors awaited Friday's jobs report for July. Here are the midday movers for Aug. 4: Coinbase Global Inc (NASDAQ:COIN) shares jumped nearly 15%, boosted by retail investors swooping in and by an agreement with BlackRock (NYSE:BLK), the giant asset management firm, to allow institutional clients to trade in Bitcoin. Eli Lilly and Company (NYSE:LLY) shares dipped 3% after the pharmaceutical maker said second-quarter earnings were lower than expected and it lowered its forecast for the full year. ConocoPhillips (NYSE:COP) shares were up about 0.2% at midday despite a strong second quarter that saw profit soar thanks to high oil prices. Conoco, like other oil majors, is benefitting from the global energy crunch that has boosted fuel prices. Walmart Inc (NYSE:WMT) stock fell 3% after the biggest U.S. retailer planned to cut corporate jobs, the latest big company to pare back in the face of slowing economic conditions. Just last month, Walmart warned profit would be dinged by a shift in consumer behavior amid high inflation. Shake Shack Inc (NYSE:SHAK) shares fell 7.7% after the burger chain missed revenue expectations while rival burger chain owner Restaurant Brands International Inc (NYSE:QSR), parent of Burger King, posted better than expected results and a 9% jump in same-store sales. Shares of Restaurant Brands rose more than 6%. Source: Investing.com Aug 04, 2022: Walmart cuts hundreds of corporate jobs, cites restructuring effort 04 Aug 2022, 07:03 AM IST In a restructuring effort, Walmart Inc is cutting hundreds of corporate roles, reported The Wall Street Journal on 3 August. Around 200 jobs are being cut, as the retailer notified employees in its Arkansas headquarters' Bentonville and other corporate offices of its restructuring move, which affects various departments including merchandising, global technology and real-estate teams, said the report. A Walmart spokeswoman even confirmed that the firm was eliminating roles as the company updated its structure, but said that the company was also investing in other areas and creating some new roles. "We're updating our structure and evolving select roles to provide clarity and better position the company for a strong future," Reuters quoted Walmart spokesperson Anne Hatfield as replying in an emailed statement. The firm is also investing and creating jobs in eCommerce, technology, health & wellness sectors, she said. Earlier last week, the US retailer slashed its profit forecast on account for surging prices for food and fuel, and cited that it needed price cuts to pare inventories. As per details, consumers are no longer clamoring for apparel, home goods, appliances and kitchenware with prices for gasoline and food spiking in the United States and globally. Not only Walmart, but firms like Tesla, Netflix, and Coinbase Global have also been cutting jobs and slowing hiring as global economic growth slows due to higher interest rates, inflation and an energy crisis in Europe. Source: Mint Aug 04, 2022: Walmart Gets Smoked After Layoff Announcement: What's Next For The Retail Stock? There have been some peculiar price movements in individual issues over the last few weeks, instigated by either earnings, forward guidance or corporate news. Perhaps the one with the most puzzling is Walmart Inc (NYSE: WMT), which is the PreMarket Prep Stock of the Day. Head For The Hills: After the close Monday, July 25, Wal-Mart dropped a bomb on shareholders with a rare in-quarter announcement. That was lower guidance, not only for the second quarter, but for all of fiscal 2023. Walmart said it expects adjusted earnings to decline between 8% and 9% in the second quarter and between 11% and 13% for the full year. The company maintained its expectations for comparable sales growth, excluding fuel, of about 3% in the second half of the year. That news instigated a drastic move lower in the stock from $132.02 to $121.98. Who Cares? Despite the longer-term guidance cut, investors piled into the issue as it approached the major support level at the $120 area from June. After bottoming on July 26 at $120.06, it rebounded to close at $121.98 and the issue embarked on a four-day winning streak. Source: MSN Aug 03, 2022: Walmart to cut hundreds of corporate jobs: Report Walmart Inc is cutting hundreds of corporate roles in a restructuring effort, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Around 200 jobs are being cut, the WSJ said, adding that the retailer notified employees in its Bentonville, Arkansas headquarters and other corporate offices of its restructuring move. Several companies, including Tesla Inc, Netflix Inc, and Coinbase Global Inc have also been cutting jobs and slowing hiring as global economic growth slows due to higher interest rates, inflation and an energy crisis in Europe. "We're updating our structure and evolving select roles to provide clarity and better position the company for a strong future," Walmart spokesperson Anne Hatfield told Reuters in an emailed statement. The company is also investing and creating jobs in eCommerce, technology, health & wellness sectors, she said. The U.S. retailer last week slashed its profit forecast on account for surging prices for food and fuel, citing that it needed price cuts to pare inventories. With prices for gasoline and food spiking, consumers are no longer clamoring for apparel, home goods, appliances and kitchenware, saddling retailers with mountains of inventory. Source: Regina Leader Post Aug 03, 2022: Here is What to Know Beyond Why Walmart Inc. (WMT) is a Trending Stock AUG 3, 2022 9:00AM EDT Walmart (WMT) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future. Shares of this world's largest retailer have returned +6.8% over the past month versus the Zacks S&P 500 composite's +7.1% change. The Zacks Retail - Supermarkets industry, to which Walmart belongs, has gained 7.1% over this period. Now the key question is: Where could the stock be headed in the near term? Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision. Revisions to Earnings Estimates Here at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock. Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements. For the current quarter, Walmart is expected to post earnings of $1.60 per share, indicating a change of -10.1% from the year-ago quarter. The Zacks Consensus Estimate has changed -16.2% over the last 30 days. For the current fiscal year, the consensus earnings estimate of $5.73 points to a change of -11.3% from the prior year. Over the last 30 days, this estimate has changed -11.3%. For the next fiscal year, the consensus earnings estimate of $6.39 indicates a change of +11.6% from what Walmart is expected to report a year ago. Over the past month, the estimate has changed -7.9%. Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Walmart is rated Zacks Rank #5 (Strong Sell). Source: Nasdaq Aug 03, 2022: Retail Home Textile Market Seeking Excellent Growth | Ross Stores, TJ Maxx, Walmart, Inter IKEA Systems August 3, 2022 Latest Study on Industrial Growth of Worldwide Retail Home Textile Market 2022-2028. A detailed study accumulated to offer Latest insights about acute features of the Worldwide Retail Home Textile market. The report contains different market predictions related to revenue size, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary and SWOT analysis. Some of the key players profiled in the study are: Walmart (United States), Amazon.com (United States), Target Corporation (United States), Kohl's (United States), Ross Stores, Inc. (United States), TJ Maxx (United States), Costco Wholesale Corporation (United States), J. C. Penney Corporation (United States), Bed Bath & Beyond Inc. (United States), Dillard's Inc. (United States), Kroger (United States), Lowe's Cos Inc (United States), Inter IKEA Systems B.V.( Netherlands), Tesco PLC (United Kingdom), Steinhoff International (South Africa), Wayfair (United States). Scope of the Report of Retail Home Textile Home textiles are used for home furnishing in residential as well as commercial applications. The availability of home textile products such as bed linens, bathroom linens, kitchen linens, table linens carpets, and floor coverings, and others as a vital part of daily lifestyle has increased demand for the retail home textile globally. The boom of online selling of home textile by vendors and increased number of retail outlets is expected to drive the global retail home textile market in the coming years. The retail home textile market is fragmented due to the presence of several retailers offering home textile products at local and international platform. The level of competition among the companies in the retail home textile market is intense and retailers focus on providing better quality products in lesser cost as well as discounts to attract more customers. The titled segments and sub-section of the market are illuminated below: by Type (Bed Linens (Bed Sheets, Bed Covers, Pillows & Pillow Covers, Duvet, Comforters, Throw), Bathroom Linens (Bath Towels, Face Towels, Bathroom Mats, Bath Rugs), Kitchen Linens, Table Linens (Runners, Table Skirting, Table Mats, Others), Carpets and Floor Coverings, Others), Application (Residential (Home Bedding, Kitchen, Upholstery, Personal Apparels, Others), Commercial (Hotels/Resorts, Offices, Shops, Others)), Textile Type (Silk Fabric, Cotton Fabric, Jute Fabric, Rayon Fabric, Wool Fabric, Georgette Fabric, Sheeting Fabric, Polyester Fabric, Nylon Fabric, Leather Fabric, Satin Fabric, Organza Fabric, Organdy Fabric), Sales Channel (Online Retail (e-Commerce Websites, Company Websites), Offline Retail (Supermarkets, Hypermarkets, Specialty Stores, Others)), Material (Natural, Synthetic, Blended) Market Trends: Demand For Digitally Printed Home Textiles Opportunities: Rising Disposable Income Growing Preference For Online Shopping Availability Of Potential Consumers In Emerging Countries Market Drivers: Increasing Demand From Residential Users Due To Increasing Nuclear Families Inclination Towards Modernizing Home Interior Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc. Strategic Points Covered in Table of Content of Global Retail Home Textile Market: Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Retail Home Textile market Chapter 2: Exclusive Summary - the basic information of the Retail Home Textile Market. Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Retail Home Textile Chapter 4: Presenting the Retail Home Textile Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis. Chapter 5: Displaying the by Type, End User and Region/Country 2015-2020 Chapter 6: Evaluating the leading manufacturers of the Retail Home Textile market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions (2021-2027) Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source Source: Digital Journal Aug 03, 2022: Frozen beef products sold at Target and Walmart recalled due to undeclared allergens Conagra Brands, Inc., a food company based in Russellville, Ark., has recalled approximately 119,581 pounds of frozen beef products due to misbranding and undeclared allergens. The items in question, which are labeled P.F. Chang's Home Menu Beef & Broccoli, actually contain orange chicken, according to a July 30 announcement from the U.S. Department of Agriculture's Food Safety and Inspection Service (FSIS). As a result, they contain egg, which is a known allergen. That ingredient, however, isn't identified on the product label or packaging. The recall was issued after Conagra Brands received a pair of complaints from customers that the P.F. Chang's-branded products contained chicken instead of beef. The impacted items were sold at retailers across the country, including select Target and Walmart stores. The products have a lot code of "5006 2146 2012" and a best-by date of May 21, 2023. For a complete list of the Walmart locations, click here. At the time the recall was issued, no confirmed reports of illness had been received. However, FSIS has advised consumers who purchased the recalled products to throw them away or return them for a refund. Moreover, if you're concerned about a possible injury or illness, contact your healthcare provider as soon as possible. This isn't the only recall to be aware of right now. Nature's Sunshine Products Inc. recently recalled two AIVIA Whey Protein & Power Herbs meal replacement products due to the presence of undeclared milk. The affected products were distributed nationwide between Sept. 1, 2021, and July 20, 2022, through direct-to-consumer online sales and independent distributors. From sugar cookies to smoked clams, make sure you're aware of these 16 more food safety recalls from recent weeks. Source: Salon.com Aug 03, 2022: Mint Morning Digest: RBI MPC meeting, personal data protection bill and more 04 Aug 2022, 08:07 AM IST Read the top business news, equity market precursors, and economic and banking news updates from India and across the world for 4 August, 2022. India's central bank is expected to deliver another half-point increase in its main policy rate on Friday to signal it's not letting up in its fight against inflation while fending off further attacks on the rupee. Read More Here. Source: Mint Aug 03, 2022: Walmart Brings Convenience to Outdoor Consumers 08/03/2022 BENTONVILLE, Ark. - Walmart Inc. and Getaway, a health and wellness hospitality company, are coming together to make traveling to nature easier and more convenient for consumers with a new concept. Starting this fall, The General Store by Walmart will be introduced at select Getaway Outposts. The mini-retail experience will include seasonal products sourced from Walmart and curated by the outdoor experts at Getaway. Items may include hiking gear, leisure activities and equipment such as Fujifilm cameras, Lodge Cast Iron Skillets, Pendleton Outdoor Blankets and Burt's Bees lip balms. Furthering Walmart and Getaway's commitment to supporting local communities, The General Store by Walmart will also feature products from small local businesses. The everyday items will be available at the Outpost, saving guests from having to travel off the property if they forgot an item at home, the companies stated. "Walmart's partnership with Getaway furthers our mission to help people live better no matter where they are," said Casey Schlaybaugh, vice president of brand marketing for Walmart U.S. "We are going beyond just saving people money by enabling guests to maximize Getaway's experience and empowering them to spend more quality time with those who matter most." The inaugural General Store by Walmart opens this month at Getaway Hill Country in Wimberley, Texas, located near Austin and San Antonio. Additional retail locations will open through the end of the year at: Machimoodus in Moodus, Conn.; Getaway Big Bear in Running Springs, Calif.; Getaway Western Catskills in Roscoe, N.Y.; and Getaway Ozark Highlands in Osceola, Mo. At the time of check-in for the next six months, guests will receive Welcome Kits, which will include ingredients to make the ultimate camping treat: s'mores. "At Getaway, our mission is to help people disconnect and spend time in nature," said Getaway CEO Carlos Becil. "In partnering with Walmart, we are able to amplify our efforts to a larger audience and provide our guests with more free time, helping them prepare for their stays and enjoy the comforts of nature once they arrive." Items on sale at The General Store by Walmart will also be available on Walmart.com via a Getaway shopping page for guests to stock up before their visit. Getaway guests who visit any Outpost over the next year will also receive a complimentary Walmart+ trial. Brooklyn, N.Y.-based Getaway Getaway offers guests disconnected stays in nature located less than a two-hour drive from major cities across the country. As a result of continued demand, Getaway, which averages more than 84 percent occupancy over the year across Outposts, will grow its number of Outposts from 19 to 28 total locations before the end of they year. Headquartered in Bentonville, Walmart operates more than 10,500 stores and clubs under 46 banners in 24 countries, as well as e-commerce websites. The company's revenue for the fiscal year 2022 is $573 billion. Source: Convenience Store News Aug 03, 2022: Walmart: Is The Retail Giant A Buy After Plunging 18% From Record High? 2022-08-02 05:01 The world's largest retailer, Walmart Inc (NYSE:WMT), appears to be sailing in rough waters, hurt by a sudden shift in consumer spending patterns. The company has lost about 18% since reaching a record high of $160.77, dragged by a worse-than-expected earnings report in May. Since February this year, the Bentonville, Arkansas-based retailer cut its profit outlook three times, driving investors increasingly nervous. The latest guidance came the past week when the company said its adjusted earnings per share would fall as much as 13% in the current fiscal year. Two months ago, the company said earnings per share would dip about 1%. The root cause behind this diminishing outlook is the sudden change in US consumer behavior. Amid growing macroeconomic headwinds, retail buyers have been increasingly spurning big-ticket items and buying more groceries--where profit margins aren't as attractive. Furthermore, the company's inventory surged to $61 billion in the quarter that ended on April 30, up from the $46 billion in the same time the previous year. Due to this accumulation, Walmart will be forced to offer discounts on its products, further pressuring margins. A Buying Opportunity? Walmart stock could remain under pressure if inflationary pressure persists and the U.S. economy slips into a recession. However, long-term investors should take this weakness as a buying opportunity, given the retail giant's massive moat and ability to recover quickly from the economic weakness. Consumer spending remains strong despite the heavy build-up in inventories and inflationary pressures. WMT comparable sales in the U.S. are set to climb 6% in the second quarter, which is higher than expected. The company has also made progress in clearing out inventories of consumer durables. Cost pressures in the economy also provide Walmart a competitive edge to attract more cost-conscious customers. According to chief executive Doug McMillon, Walmart is in a solid position to win over more consumers, helped by its omnichannel focus, pushing digital penetration to record levels. To attract cost-conscious consumers, Walmart launched a new program last week that will make it easier to shop for refurbished items from Apple (NASDAQ:AAPL), Samsung (KS:005930) Electronics (OTC:SSNLF), and Whirlpool's (NYSE:WHR) KitchenAid. The restored merchandise will be available online and in some stores this fall. The company is also on the right track to counter online retailers like Amazon.com (NASDAQ:AMZN) by successfully executing its own e-commerce strategy. Online sales are becoming a more significant contributor to reported same-store sales growth, as they expanded by 87% during the past two years. During periods of distress, Walmart shares have historically outperformed the S&P 500 by a considerable margin. For instance, during the market crash of 2020, the stock continued to remain in positive territory as the broad market suffered. And during the recessions of 2002 and 2008, Walmart produced positive returns while the S&P 500 tumbled. That is why many analysts remain bullish on the stock going forward. In a poll of 41 analysts conducted by Investing.com, 27 gave the stock an "Outperform" rating with a consensus 12-month average price target of $141.31, implying a 6% upside potential from the current market price. Analysts at Goldman Sachs wrote in a note to clients: "We acknowledge the company's improving profitability profile will now take longer to come to fruition (we estimate beginning in FY23), but we reiterate our Buy rating (on CL) for WMT given strong top-line trends supported by market share gains." The note added that cost pressures on Walmart are likely only temporary, and the company retains "solid visibility into the path towards improvement." Bottom Line The current weakness in WMT is a buying opportunity for long-term investors. The company has a long history of recovering from downturns and pays a steadily growing dividend. Disclosure: The writer is long on Walmart. Source: Investing.com Aug 03, 2022: The Surprising Secret About Who Buys Walmart and Other Private Label Items Ah, private label brands - the Kirkland seltzers you always stock up on at Costco (COST) - Get Costco Wholesale Corporation Report and everything from the peanut butter-filled pretzels to the international frozen food section at Trader Joe's. Launched by the same retailer under a separate brand, the private label product has a lot going for it -- they let their creators reap all of the profits (instead of sharing them with the manufacturer) while, on the customer side, they can become as beloved as everything-but-the-bagel seasoning. But not every private label brand is a success and some are clearly more popular than others. A recent survey by data company Numerator found that the five most popular private label brands are Great Value (72.7% of survey respondents bought it), Equate (51%), Marketside (44.2%), Freshness Guaranteed (40%) and Dollar Tree (DLTR) - Get Dollar Tree Inc. Report (32.5%). With the exception of Dollar Tree, four out of the five brands above are produced by Walmart (WMT) - Get Walmart Inc. Report. Walmart, Walmart Everywhere "The days of treating private label products as untrackable are over," Numerator's Chief Executive Eric Belcher said in a statement. "With market share now approaching 50% in some major categories, CPG manufacturers need visibility into the brand-level performance of private labels today more than ever before." But while Walmart beat all others due to the sheer number of stores available across the country, certain brands invest more in private labels than others - 77.5% of the sales at Aldi's came from private labels. That number was at 59.4% for Trader Joe's, 49.4% for Wegmans, 33.5% for Costco and 30% for Sam's Club. Aldi, Target (TGT) - Get Target Corporation Report and Amazon's Basics (AMZN) - Get Amazon.com Inc. Report were the private label brands that were growing at the fastest rates. Walmart, by contrast, had only 23.3% of its sales come from private labels while the rest came from other brands it stocks. "When a retailer carries lines from third-party vendors, the profits are split between the two," Cathaleen Chen wrote for TheStreet in 2018. "With private lines, vendors are kept out of the picture and the retailer reaps the gains." Price Or Brand Name? One key finding was related to the financial comfort of the people buying private label products. The long-standing stereotype is that only low-income people go for no-name or private label brands. But retailers hawking in-house products had surprising news. In the study, the differences between household incomes was infinitesimal. In fact, while 17.1% of the private label market share came from low-income families, higher-income households made up 17.2%, according to the report. What's more, 56.9% of high-income buyers held a favorable view of private label products while only 52.5% of low-income shoppers did. While the study did not delve into the price differences between private label and designer products (some of the former are getting quite expensive as the manufacturer presents them as 'luxury' products), private label has traditionally been a way of saving money. Some analysts estimate that the average private label brand costs between 20% to 40% less than a similar branded product. In 2021, Walmart announced that it was launching a private-label insulin that it promised to provide at 75% of the cost of branded analog products which, at that time, were priced at $72.88 for vials and $85.88 for the FlexPen. "As inflation continues to rise, price is becoming more important than brand name for many consumers," reads the report. "In recent months, the number of consumers who say price is more important than brand name has grown across all income levels." Source: TheStreet Aug 03, 2022: Dow Jones index falls over 400 points amidst rising US-China tensions Dow Jones Industrial Average (DJI) or Dow 30 closed at 32,396.17, almost 402.23 points down on August 2, The 1.23% fall in Dow came on the back of rising U.S.-China tensions, as House Speaker Nancy Pelosi reached Taiwan. Other leading indices like S&P 500 and Nasdaq Composite also closed in the red. Dow is lower by 7.75 per cent over the 1-year while the return since January 2022 is a negative 10.85 per cent. Dow continued to trade in a small range of 32,387.12 and 32,772.93 during the day's session. The 52-week range for Dow remains between 29,653.29 and 36,952.65. Only four prominent Dow stocks - Salesforce Inc., Travelers Cos. Inc., Walmart Inc. and UnitedHealth Group Inc.- were in green when the market closed. Arista Networks (ANET), Caterpillar (CAT), CF Industries (CF), Devon Energy (DVN), Diamondback Energy (FANG), Mosaic (MOS) and Uber Technologies (UBER) were other stocks in focus on Tuesday. Caterpillar Inc. (NYSE: CAT) announced second-quarter 2022 sales and revenues of $14.2 billion, an 11% increase compared with $12.9 billion in the second quarter of 2021. CAT ended the day's session 5.82 per cent lower settling at $183.51. Dow is a popular barometer of the US economy, its businesses and the consumer trends in the country. Part of S&P Dow Jones Indices, Dow 30 index has a diversified exposure to various sectors of the economy except for transportation and utilities. Some of the prominent companies in 30-stocks index are Boeing, Nike, Goldman Sachs, Walmart, Intel, 3M, UnitedHealth Group, Apple, Coca-Cola, McDonalds, Microsoft etc. The Dow is a price-weighted index that measures the performance of 30 of the largest U.S. Companies. Unlike other indices, in Dow 30, the selection is not governed by quantitative rules but as per the S&P indices website, "a stock is added to the index only if the company has an excellent reputation, demonstrates sustained growth and is of interest to a large number of investors." Further, it is to be maintained that the companies are incorporated and headquartered in the U.S with the large part of revenues being generated from the United States. Source: The Financial Express Aug 02, 2022: Retailers Seeking More Warehouse Space to Stow Excess Inventory Aug. 2, 2022 1:22 pm ET Retailers and logistics operators are struggling to find space to store the flood of goods that have swamped warehouses and weighed on their balance sheets. Warehouse owners say more retailers are looking to add storage capacity, both for goods now reaching their networks of stores and distribution centers and as they prepare to keep more inventory on hand long-term to guard against stock-outs. Prologis Inc., the world's biggest owner of warehouses by square footage, said in a recent market analysis that it expects an additional 800 million square feet of warehouse space to be needed beyond earlier projections to handle the excess inventories, about 300 million square feet of which has already been leased by tenants. "We have specifically heard from customers who are looking at carrying more inventories and are leasing space," said Chris Caton, managing director of global strategy and analytics at Prologis. Retailers including Walmart Inc., Bed Bath & Beyond Inc. and Best Buy Co. have reported they are coping with an unexpected glut of casual clothes, kitchen appliances and electronics as consumers have pivoted away from spending on goods while the highest inflation in decades has crimped household budgets. Persistent supply-chain bottlenecks have also led many retailers to stretch out buying cycles, bringing in goods early to ensure shelves are stocked during the critical fall sales season. Some retailers have also bulked up orders to be prepared in case of supply-chain disruptions, part of the shift from "just-in-time" inventory management to "just-in-case." The inbound shipments are stacking up at seaport docks, filling up warehouses near gateways and clogging distribution networks across the U.S. Melinda McLaughlin, senior vice president and global head of research at Prologis, said across the company's some 5,800 customers, the increased demand amounts to an average of about 138,000 square feet per client. Prologis's biggest customers include companies such as Amazon.com Inc., FedEx Corp., Home Depot Inc. and United Parcel Service Inc. The demand is also growing among discount retailers and liquidators as the country's biggest merchants look to offload excess and out-of-season stocks. Chris Caplice, executive director of Massachusetts Institute of Technology's Center for Transportation and Logistics, said forecasts for more storage capacity may be overblown since retailers are also cutting prices and canceling orders to cope with excess stocks. "I don't think it's going to be like, we need to double the amount of warehouse space," Mr. Caplice said. The industrial real-estate market remains extremely tight by historical standards, with demand for e-commerce along with upheaval in supply chains during the pandemic driving the vacancy rate for warehouses across the U.S. down to 2.9% in the second quarter, a drop from 7.7% 10 years ago, according to real-estate services firm CBRE Group Inc. The addition of new space has been held up by labor shortages and supply-chain disruptions. Developers completed 78.6 million square feet of new industrial space in the second quarter, down 6.9% from the previous quarter because of materials shortages, according to CBRE. A record 626.6 million square feet is under construction. Some retailers have turned to flexible warehousing amid the tight real-estate market to handle increased inventory, said Karl Siebrecht, chief executive of Seattle-based Flexe Inc., which connects businesses to warehouses with shared space. "We do see this dynamic happening across many of our customers," Mr. Siebrecht said. "When you increase inventory, you must increase the capacity of warehouses to hold that inventory." Source: Wall Street Journal Aug 02, 2022: PayPal Names Former Electronic Arts Executive Blake Jorgensen as CFO Aug. 2, 2022 8:34 pm ET PayPal Holdings Inc. named Blake Jorgensen as its next finance chief, succeeding John Rainey, who left the digital payments giant earlier this year for the same role at Walmart Inc. Mr. Jorgensen's appointment takes effect Wednesday, PayPal said in a press release. He most recently served as chief financial officer for about a decade at videogame maker Electronic Arts Inc., where he also held the dual role of chief operating officer from 2018 to 2021. Before that, he served as finance chief at Levi Strauss & Co. PayPal declined to make Mr. Jorgensen available for an interview. Gabrielle Rabinovitch, PayPal's senior vice president of corporate finance and investor relations, has served as interim finance chief since Mr. Rainey stepped down in May after nearly seven years as CFO. San Jose, Calif.-based PayPal in February lowered its profit outlook for the year and shelved an ambitious growth strategy that it put in place in 2021, when it benefited from the pandemic-driven surge in e-commerce. But the return of shoppers to physical stores, as well as a more challenging economic outlook due to inflation and supply-chain disruptions, has put pressure on its business. During the quarter ended June 30, net revenue rose 9% from the prior year period, to $6.8 billion, PayPal said Tuesday. The company reported a $341 million loss during the quarter, compared with a $1.2 billion profit a year earlier. Expense management will be a priority for Mr. Jorgensen when he takes over his new role, said Moshe Katri, managing director at the investment firm Wedbush Securities Inc. PayPal on Tuesday said it expects to realize $900 million in cost savings this year, including from operating and transaction-related expenses, as well as $1.3 billion in savings in 2023. PayPal is also looking for additional ways to improve efficiency and productivity, which could include scaling back on real estate and shifting hiring to lower-cost locations, Chief Executive Dan Schulman said during an earnings call Tuesday. The company plans to invest a portion of its savings back into the business, focusing on areas such as digital wallets, its Braintree payment-processing business and its online checkout function. The company on Tuesday also said it has entered into an information-sharing agreement with activist investor Elliott Management Corp., which has a roughly $2 billion investment in the company, according to PayPal's earnings release. A number of steps are being taken to realize "the significant value opportunity at the company," Jesse Cohn, a managing partner at Elliott, said in the release. The Wall Street Journal reported last month that Elliott Management had a stake in PayPal. In his new role, Mr. Jorgensen will receive a base salary of $750,000, as well as an annual bonus with a target value of 125% of his annual pay, PayPal said in a regulatory filing Tuesday. Additionally, he will receive new-hire stock awards valued at $2 million, made up of restricted and performance-based stock, as well as a supplemental restricted stock award valued at $8 million. Mr. Jorgensen will also receive a new-hire cash bonus of $6 million, the filing said. Source: The Wall Street Journal Aug 01, 2022: $20 Million sale of IP Platform Technology; Product Available at Walmart, Bed Bath & Beyond & Target: Stock Symbol: CURR August 01, 2022, 17:32 GMT OXNARD, CALIFORNIA, UNITED STATES, August 1, 2022 /EINPresswire.com/ -- $20 Million sale of IP Platform Technology; Health and Beauty Lines Available at Walmart, Bed Bath & Beyond, CVS & Target.com: CURE Pharmaceutical (Stock Symbol: CURR) Proceeds Will Be Used to Grow CURR's Wellness and Beauty Brands and Its Remaining Proprietary Platform Technology Patented Techniques Improve Efficacy, Safety, and Patient Experience. 25,000 Square Foot, FDA-Registered, NSF(Registered) and cGMP-Certified Manufacturing Facility. Oral Vitamin D Supplement More Effective Than Standard Supplementation in Achieving Pre- and Post-surgery Vitamin D Sufficiency. Skincare Line Being Sold at Select Walmart Stores, CVS and Bed Bath & Beyond Stores. Oral Thin Film Strip, Nutri-Strips(TradeMark) on Shelves at CVS and at Target.com. Collaboration with Milagro Pharmaceuticals for Registration and Approval to Sell ED Treatment Sildenafil Oral Thin Film in Mexico. Patent Approval on CUREfilm Blue(TradeMark) Technology for ED Treatment. CURR has sold a portion of its platform technology intellectual property and related assets for $20 million in total consideration. CURR used a portion of the cash proceeds to pay down certain debt obligations and the balance will be used to grow its intellectual property portfolio and its wellness and beauty brands. In addition, CURR retained its remaining proprietary platform technology that it intends to monetize through the commercialization of the technology or through the licensing or sale of the technology. CURR will host a conference call on August 3, 2022, to provide a full corporate update to shareholders. Details of the conference call will be made available on August 1, 2022, in a follow-up press release. About CURR: CURE Pharmaceutical (OTCQB: CURR) is a fully integrated and progressive drug delivery company. The CURR team has extensive experience formulating and manufacturing OTC products, pharmaceuticals, and veterinary medications placing quality and service as its top priorities, earning the trust and respect of customers worldwide. CURR is the pioneering developer of CUREform(TradeMark), a patented drug delivery platform that offers a number of unique immediate-release and controlled-release drug delivery technologies designed to improve drug efficacy, safety, and patient experience for a wide range of active ingredients. CURR delivery technologies include CUREfilm(Registered), an advanced oral thin film; and CUREdrops(TradeMark), an emulsion technology that can be incorporated into different dosage forms (film, tincture, beverages, etc.), among others. The CURR proprietary clinical pipeline includes CUREfilm(Registered)Blue (sildenafil to treat erectile dysfunction), and CUREfilm(Registered)Canna (THC and CBD). As a vertically integrated company, CURR operates a 25,000 square foot, FDA-registered, NSF(Registered) and cGMP-certified manufacturing facility enabling it to partner with pharmaceutical and wellness companies worldwide for private and white-labeled production. CURR currently has partnerships in the U.S., China, Mexico, Canada, Israel, and other markets in Europe. Positive Findings from Study at Cincinnati Children's Hospital Medical Center Using CURR Proprietary, Oral Thin Film High, Single Dose Vitamin D in Pediatric Patients Pre- and Post-Hematopoietic Stem Cell Transplantation On May 12th CURR announced positive findings from a study conducted at Cincinnati Children's Hospital Medical Center using CURR proprietary, single dose, oral, 40,000 IU vitamin D (branded ImmunD3(TradeMark) Nutri-Strips(TradeMark) in the retail wellness market) in pediatric patients before stem cell therapy. CURR oral Vitamin D supplement was found to be more effective than standard supplementation in achieving pre- and post-surgery vitamin D sufficiency, which is critical for reducing immune-mediated organ damage in the children receiving HSCT. To view the details of this study, visit the poster presentation on the CURR website at https://curepharmaceutical.com/white-papers/ CURR Subsidiary Sera Labs Inc. Products Now Available at Walmart, Bed Bath & Beyond, CVS and Target.com On April 14th CURR wholly owned subsidiary Sera Labs announced its Seratopical Revolution skincare line will be sold at select Walmart Stores, as well as CVS, and Bed Bath & Beyond stores. CURR also has garnered placement for its revolutionary oral thin film strip, Nutri-Strips(TradeMark) on shelves at CVS and at Target.com. The Nutri-Strip technology is proprietary to Sera Labs and is the result of years of research and more than 25 patents by the CURR development team. CURR and Milagro Pharmaceuticals Collaborate for Registration and Approval to Sell Sildenafil Oral Thin Film in Mexico On March 3rd CURR and Milagro Pharmaceuticals, which seeks first mover advantage in target health & wellness markets through key collaborations, announced their collaboration to register and sell in Mexico a number of CURR OTC and medical compounds that utilize CUREform(TradeMark), the CURR patented drug delivery platform for oral thin film (OTF). OTF products that will be marketed and sold in Mexico via key distribution partners include: CUREfilm Blue(TradeMark) - an oral soluble form of sildenafil citrate (the active ingredient present in Viagra(Registered)1) for the treatment of erectile dysfunction (ED). Vitamin D3 - that provides a convenient, weekly 40,000 IU dose of Vitamin D An electrolyte energy boost - that provides a healthier, sugar-free alternative to energy drinks Sleep - a dose of melatonin that dissolves on the tongue so it can be taken even after you climb into bed. Patent Approval for CUREfilm Blue(TradeMark) Technology On November 16th CURR announced it received an issue notification from the U.S. Patent Office (USPTO) CUREfilm Blue(TradeMark) utilizes CURR patented and proprietary fast-dissolving drug delivery platform, known as CUREfilm(TradeMark), to deliver the active pharmaceutical ingredient (API) sildenafil citrate. For more information on CURE Pharmaceutical, Inc. (OTCQB: CURR) visit: www.curepharmaceutical.com and www.Seralabshealth.com DISCLAIMER 1: The products mentioned are THC-free and/or compliant with the 2018 Farm Bill. DISCLAIMER 2: This article is purely for informational purposes and is not a recommendation in any way for buying or selling stocks Source: EIN News Aug 01, 2022: Walmart to open small general stores at Getaway outposts Aug. 1, 2022 Dive Brief: Stepping into a type of retail that it once disrupted, Walmart and remote vacation company Getaway are launching mini-retail shops called the General Store by Walmart at select outpost locations, according to a press release from Walmart last week. The first store will open in August at a Getaway outpost in Wimberley, Texas, per the release. Other shops will open throughout the year in Moodus, Connecticut; Running Springs, California; Roscoe, New York; and Osceola, Missouri. The small shops will sell seasonal products sourced by Walmart and curated by Getaway, such as hiking gear and leisure activities, as well as equipment such as film cameras, cast iron skillets and more. The selection will also be available online at a Getaway shopping page, and guests over the next six months will receive Welcome Kits from the partnership to make s'mores. Dive Insight: There's nothing like your local general store's quaint, wholesome energy, and Walmart is looking to embody that with this new partnership. "Walmart's partnership with Getaway furthers our mission to help people live better no matter where they are," Casey Schlaybaugh, Walmart's U.S. vice president of brand marketing, said in a statement. "We are going beyond just saving people money by enabling guests to maximize Getaway's experience and empowering them to spend more quality time with those who matter most." The news demonstrates that Walmart is looking to expand its reach to more remote places, far from where its typical big-box stores can be found. The company is also offering extra benefits to extend the relationship it starts with Getaway Outpost guests, giving a complimentary Walmart+ trial to any guests over the next year. Getaway is focused on providing nature-filled experiences to travelers interested in taking a break from regular life. Each location is within a two-hour drive from a major city, and they do not offer WiFi or cell service. The news received a less-than-enthusiastic response when announced on Getaway's Instagram last week. In a post where Getaway said it wants to "inspire people to live better" through working with Walmart, some commented that the news made them "really sad" and many wondered why they wouldn't partner with a small business. Walmart's partnership with Getaway follows its warning last week that profits are at risk as consumers focus spending on essentials instead of discretionary items. The retailer expects operating income to fall 13% to 14% for the second quarter, but raised that quarter's net sales estimate to 7.5% growth from its 5% estimate in May. Source: Retail Dive Aug 01, 2022: Fitch Affirms Ratings of Walmart, Inc. at 'AA'/'F1+'; Outlook Stable Mon 01 Aug, 2022 - 2:23 PM ET Fitch Ratings - New York - 01 Aug 2022: Fitch Ratings has affirmed the ratings of Walmart Inc., including its Long-Term Issuer Default Rating (IDR) at 'AA' and Short-Term Issuer Default and CP Ratings at 'F1+'. The Rating Outlook is Stable. Walmart's ratings reflect its dominant global retail market share position, with $573 billion of 2021 (ended January 2022) revenue, positive comparable store sales (comps), substantial cash flow, and consistent financial strategy, which has resulted in stable adjusted debt/EBITDAR leverage around 2x. Fitch projects organic annual revenue growth in the low-single-digit range with commensurate EBITDA growth over time, although near-term results will be volatile due to post-pandemic consumer behavior changes, inventory clearance activity and some macroeconomic uncertainty. FCF (after dividends) is forecast to range between $3 billion and $5 billion annually beginning 2022. Total adjusted debt/EBITDAR is expected to trend at or below the low-2.0x range, including 2022. KEY RATING DRIVERS Potential Volatility Following Operating Strength: Walmart's near-term results will be volatile following a strong 2020/2021 period. While Fitch is not currently forecasting a consumer recession, many retailers are facing difficult comparisons and a consumer who is incrementally less interested in purchasing goods versus services like travel and entertainment. Walmart's low price positioning and exposure to lower end consumers could have a mixed impact, as the company could benefit from trade-down activity to Walmart, but also experience headwinds from consumers trading down to even lower priced competitors like hard discounters and dollar stores. Walmart's increased exposure to discretionary categories like apparel and home could also represent headwinds if its customer base reduces overall spending in these categories. Fitch expects revenue to grow 4% in 2022 toward $600 billion largely due to inflation, but decline to around $575 billion in 2023, albeit well above the $524 billion recorded in pre-pandemic 2019. Given supply chain challenges and near-term markdown activity to address excess inventory, EBITDA could trend in the low-$30 billion range, similar to 2019, with margins in the 5.0% to 5.5% range compared with around 6% prior to the pandemic. Longer term, Fitch forecasts Walmart can grow revenue and EBITDA in the low single digits and expects that any temporary consumer spending dislocation could provide longer term market share opportunities for leaders like Walmart. Massive Scale, FCF Generation, Business Breadth: Walmart is the world's largest retailer, with over $570 billion in LTM April 2022 revenue across over 10,500 stores in 24 countries plus e-commerce websites. Walmart's sales mix is diverse, with just over half of revenue derived from grocery and the remainder generated from numerous general merchandise categories. The company's retail formats include discount centers, supercenters, membership clubs and smaller neighborhood markets in addition to its digital presence. Walmart's sizable internally generated cash flow and close customer connections enable market share expansion over time despite the company's size. Omnichannel Evolution Supports Market Share Defensibility: Walmart's recent sales trajectory has benefited from its omnichannel expansion. The company has redirected its sizable capex, targeted at around $14 billion annually, toward technology and supply chain infrastructure to improve customer-facing websites and increase distribution network flexibility. Longer-term omnichannel winners are retailers with a good portfolio of physical assets, including store network and distribution facilities, robust customer-facing websites, and good data collection and analytical capabilities around consumer behavior and inventory. These models are expensive to build and maintain, particularly in grocery, where distribution expenses and logistical complexity have kept digital penetration low. Better-positioned incumbents like Walmart with good customer relationships and internally generated cash flow can strengthen their omnichannel models over time. International Portfolio Activity Supports Long Term Sales Growth: Internationally, Walmart has increased its focus on China and India, two markets with above-average growth potential. In 2018, the company acquired a 77% stake in leading Indian e-commerce retailer Flipkart for $16 billion and in 2017 formed a strategic alliance with Chinese e-commerce player JD.com, Inc. in which it owns approximately 10%. Walmart's other international markets are being positioned to either provide stable cash flow or disposal opportunities. Over the past three years, the company has sold majority stakes in its businesses in the U.K., Japan, Argentina and Brazil. Stable Longer-Term Operating Results: Walmart's operational initiatives have borne fruit with annual U.S. comps averaging 2.8% during the three years ending 2019, before accelerating to 8.6% in 2020 and 6.4% in 2021. Digital U.S. growth was 37% in pre-pandemic 2019, but was 79% and 11% in 2020 and 2021, respectively, given changes to consumer behavior and good omnichannel execution. EBITDA growth has followed topline growth in recent years, with margins generally trending in the low-6% range (2020 was 5.9%, largely due to heightened coronavirus-related operating expenses); EBITDA was approximately $36 billion in 2021. Walmart's cash flow generation is strong, with FCF after dividends averaging around $10 billion the past four years. FCF could moderate toward the $3 billion to $5 billion range (assuming neutral working capital) beginning 2022 given a step-up in capex to $14 billion from the $10 billion range prior to 2021. Reasonable Leverage Supported by Strong FCF and Liquidity: Walmart's credit profile is supported by reasonable adjusted debt/EBITDAR (capitalizing leases at 8x), which has historically trended around 2.0x. Walmart has maintained its leverage profile through occasional debt reduction, including during 2015-2017 as EBITDA declined and Fitch would expect the company to maintain this discipline should current challenges persist. Adjusted leverage is expected to trend near 2.0x beginning 2022. Walmart's reasonable leverage profile is accompanied by strong FCF and solid liquidity, including access to a commercial paper program partially backstopped by $15 billion of revolvers. DERIVATION SUMMARY Walmart's 'AA' Long-Term IDR reflects its dominant global retail market share position, with $573 billion of 2021 (ended January 2022) revenue, positive comparable store sales (comps), substantial cash flow, and consistent financial strategy, which has resulted in stable adjusted debt/EBITDAR leverage around 2x. Fitch projects organic annual revenue growth in the low-single-digit range with commensurate EBITDA growth over time, although near-term results will be volatile due to post-pandemic consumer behavior changes, inventory clearance activity and some macroeconomic uncertainty. FCF (after dividends) is forecast to range between $3 billion and $5 billion annually beginning 2022. Total adjusted debt/EBITDAR is expected to trend at or below the low-2.0x range over time. Leading U.S. physical and digital retailers within Fitch's coverage include Amazon.com (AA-/Stable), The Home Depot, Inc. (A/Stable) and Target Corporation (A/Stable). Amazon's rating is one notch lower than Walmart's despite similar leverage, its leading positions in e-commerce and cloud computing services, higher margins, and strong FCF generation due mainly to Walmart's larger scale and more consistent historical leverage profile. Target's ratings relative to Walmart consider its higher margins, historically similar leverage profile, smaller scale, and recent market share gains following successful implementation of omnichannel initiatives, efficient supply chain operations, and differentiated customer proposition. Home Depot's rating reflects its leading position in the home improvement industry, which benefits from limited online and discount incursion although is highly cyclical alongside housing market activity; Home Depot's adjusted debt/EBITDAR is expected to be approximately 2.0x. KEY ASSUMPTIONS Fitch's Key Assumptions Within the Rating Case for the Issuer --Revenue is expected to be up around 4% in 2022, largely due to consumer price inflation, and decline in the 3% range in 2023 against challenging comparisons and some easing of inflation. Longer term, Fitch expects low-single digit growth in revenue, largely due to positive comps, including ecommerce growth. --EBITDA margins could trend in the low- to mid-5% range beginning 2022, below the recent average in the low-6% range on general cost inflation and ongoing investments in topline initiatives, including omnichannel expenses. EBITDA margins in 2022 are expected to be pressured by excess markdowns as the company addresses an excess inventory position, particularly in categories like apparel and home. EBITDA could therefore trend in the low $30 billion range over the next two to three years, below the $36 billion recorded in 2021, but close to pre-pandemic averages. --FCF, which averaged around $10 billion annually prior to the pandemic, is expected to decline but remain robust in the $3 billion to $5 billion range beginning 2022, assuming neutral working capital. This assumes capex, which was historically around $10 billion, trends in the $14 billion range. --Adjusted debt/EBITDAR (capitalizing leases at 8x) historically trended around 2x but moved up to 2.3x in 2018/2019 following the debt-financed investment in Flipkart, which generates operating losses. Adjusted leverage returned to the 2.0x range in 2020 and Fitch expects leverage to sustain around 2.0x beginning 2022, assuming generally stable debt levels around $38 billion. RATING SENSITIVITIES Factors that could, individually or collectively, lead to positive rating action/upgrade: --An upgrade is unlikely, given the rating is currently at the high end of the rating spectrum and fully captures the company's financial and qualitative strengths. Factors that could, individually or collectively, lead to negative rating action/downgrade: --Weakening sales and EBITDA trajectory due to execution mis-steps or market share challenges from competitors; --Total adjusted debt/EBITDAR (capitalizing leases at 8x) above the low 2.0x range on lower-than-expected operating results or debt-financed shareholder friendly activity. BEST/WORST CASE RATING SCENARIO International scale credit ratings of Non-Financial Corporate issuers have a best-case rating upgrade scenario (defined as the 99th percentile of rating transitions, measured in a positive direction) of three notches over a three-year rating horizon; and a worst-case rating downgrade scenario (defined as the 99th percentile of rating transitions, measured in a negative direction) of four notches over three years. The complete span of best- and worst-case scenario credit ratings for all rating categories ranges from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are based on historical performance. For more information about the methodology used to determine sector-specific best- and worst-case scenario credit ratings, visit https://www.fitchratings.com/site/re/10111579. LIQUIDITY AND DEBT STRUCTURE Significant Liquidity: Walmart's strong liquidity profile is bolstered by its cash balance ($11.8 billion as of Apr. 30, 2022) and by its revolvers totaling $15 billion, which partially backstop Walmart's commercial paper program. Walmart's liquidity is further supported by meaningful FCF generation, expected to average in the $3 billion to $5 billion range annually (assuming neutral working capital) beginning in 2022. At the end of 2021, total debt outstanding was approximately $38.3 billion. Approximately $1.6 billion of unsecured notes have matured thus far in 2022 with another $1.25 billion notes maturity in December 2022; approximately $4.2 billion of debt matures in 2023. ISSUER PROFILE Walmart is a global leader in retail and e-commerce, with over $576 billion in trailing twelve month (April 2022) revenue across over 10,500 stores and e-commerce websites. SUMMARY OF FINANCIAL ADJUSTMENTS Fitch treats interest on lease liabilities and amortization of lease assets as operating costs in accordance with Fitch's lease criteria and capitalizes operating lease expense at a multiple of 8.0x. REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING The principal sources of information used in the analysis are described in the Applicable Criteria. ESG CONSIDERATIONS Unless otherwise disclosed in this section, the highest level of ESG credit relevance is a score of '3'. This means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. For more information on Fitch's ESG Relevance Scores, visit www.fitchratings.com/esg. Source: Fitch Ratings Aug 01, 2022: IFM Investors Pty Ltd Acquires 41,256 Shares of Walmart Inc. (NYSE: WMT) Aug 1st, 2022 IFM Investors Pty Ltd raised its holdings in Walmart Inc. (NYSE:WMT - Get Rating) by 20.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 240,863 shares of the retailer's stock after buying an additional 41,256 shares during the period. IFM Investors Pty Ltd's holdings in Walmart were worth $35,869,000 at the end of the most recent quarter. Several other hedge funds also recently bought and sold shares of WMT. Baltimore Washington Financial Advisors Inc. purchased a new stake in shares of Walmart in the 4th quarter worth $286,000. Gibson Wealth Advisors LLC purchased a new stake in shares of Walmart in the 4th quarter worth $29,000. James Reed Financial Services Inc. purchased a new stake in shares of Walmart in the 4th quarter worth $35,000. Concorde Financial Corp purchased a new stake in shares of Walmart in the 4th quarter worth $37,000. Finally, Lipe & Dalton lifted its holdings in shares of Walmart by 34.5% in the 4th quarter. Lipe & Dalton now owns 296 shares of the retailer's stock worth $43,000 after buying an additional 76 shares during the period. Institutional investors own 30.79% of the company's stock. Analyst Ratings Changes Several equities research analysts have weighed in on WMT shares. BMO Capital Markets reiterated a "maintains" rating on shares of Walmart in a report on Tuesday, July 26th. Gordon Haskett lowered their target price on Walmart from $140.00 to $135.00 and set a "hold" rating for the company in a report on Wednesday, May 18th. UBS Group decreased their price objective on Walmart from $165.00 to $152.00 and set a "buy" rating for the company in a research note on Tuesday, July 26th. DA Davidson decreased their price objective on Walmart from $162.00 to $148.00 in a research note on Tuesday, July 26th. Finally, Raymond James restated a "maintains" rating on shares of Walmart in a research note on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $145.33. Insiders Place Their Bets In other Walmart news, CEO C Douglas Mcmillon sold 9,708 shares of the stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $125.61, for a total transaction of $1,219,421.88. Following the transaction, the chief executive officer now owns 1,526,864 shares in the company, valued at $191,789,387.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 29,124 shares of company stock worth $3,638,461. 47.06% of the stock is owned by corporate insiders. Walmart Stock Up 1.8 % Walmart stock opened at $132.05 on Monday. The firm has a market cap of $361.97 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 3.75 and a beta of 0.52. Walmart Inc. has a 52 week low of $117.27 and a 52 week high of $160.77. The business's 50-day moving average price is $124.86 and its 200 day moving average price is $137.46. The company has a quick ratio of 0.23, a current ratio of 0.86 and a debt-to-equity ratio of 0.43. Walmart (NYSE:WMT - Get Rating) last posted its earnings results on Tuesday, May 17th. The retailer reported $1.30 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.18). The company had revenue of $141.60 billion for the quarter, compared to analyst estimates of $138.05 billion. Walmart had a return on equity of 19.05% and a net margin of 2.26%. The firm's revenue was up 2.4% on a year-over-year basis. During the same period last year, the business earned $1.69 earnings per share. As a group, sell-side analysts anticipate that Walmart Inc. will post 6.4 earnings per share for the current year. About Walmart (Get Rating) Walmart Inc engages in the operation of retail, wholesale, and other units worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications. Source: Defense World Aug 01, 2022: Down 18%, Can Walmart Turn Things Around in the Second Half Of 2022? AUG 1, 2022 10:00AM EDT Walmart (NYSE: WMT) stock suffered its largest single-day decline in over 35 years after reporting first-quarter fiscal 2023 results in May. After rebounding from its 52-week low, Walmart stock tumbled a painful 8% last Tuesday after the company released an update to its second-quarter and fiscal 2023 guidance. While the stock has bounced back a bit since then, concerns about its outlook remain. Despite higher revenue, Walmart has too much inventory as seasons shift and consumer spending declines on discretionary goods. What's more, higher input costs due to inflation are taking a toll on Walmart's operating margin. Walmart is now guiding for double-digit declines in fiscal 2023 adjusted earnings per share (EPS) and operating income compared to fiscal 2022. Let's determine if Walmart can turn its business around in the second half of 2022 or if there could be more pain ahead. A challenging road ahead As bad as Walmart's guidance cut is, it's important to remember that the big-box retailer is far better positioned than the retail industry as a whole. Walmart's high-volume, low-cost pricing model tends to do fairly OK during economic downturns and could even stand to benefit as consumers shift buying behavior toward value-priced products. However, what makes this economic downturn particularly painful is that supply chain disruptions left Walmart with too much inventory. Walmart was prepared for another year of economic growth, not a slowdown that would retrace its business back toward fiscal 2021 levels. And that leaves it more vulnerable to the downturn we are seeing in consumer spending. Given this position, it would make sense that the worst may not be over for Walmart, especially if inflation lasts for longer than expected, Walmart fails to make progress on inventory reductions, and it orders too much for the holiday season. Managing expectations A classic mistake investors will make during times of high volatility, and especially during bear market earnings seasons, is banking on a good quarter to turn a company in the right direction. Walmart's announcement supports the notion that we are still in a period of high inflation and weak economic indicators. The retailer's track record and market position indicate it will likely be a long-term winner. But there's only so much Walmart can control. It can't force customers to buy more discretionary products. Nor can it wave a magic wand and ease inflationary costs. As ugly as Walmart stock's decline has been, it's important to understand the context. Tuesday's price decline pushed Walmart stock down to roughly where it was a month ago -- which is about the same price as it was after it released its abysmal Q1 fiscal 2023 report. Given Walmart's updated forecast, the stock probably didn't deserve to rebound off its lows as quickly as it did. Put another way, it's not like Walmart stock is 10% lower than when it reported its last quarter. It's just around the same price now. And that makes sense given the situation hasn't improved and, if anything, is deteriorating. What to watch in the months to come As usual, focusing too much on short-term price movements isn't very productive. Rather, a better way to approach stocks like Walmart is to think a few years out instead of fixating on the next quarter or two. Walmart has an excellent management team and market position, and it isn't an expensive stock based on its forward-adjusted EPS guidance. Walmart earned $6.46 in fiscal 2022 adjusted EPS. Its updated guidance suggests a 12% decline, which would give Walmart fiscal 2023 adjusted EPS of $5.68 -- giving it a forward price-to-earnings ratio of 21. Walmart's reasonable valuation and 1.8% dividend yield aren't a bad option for investors looking for a company they can count on to outlast a prolonged bear market. However, there's also nothing wrong with waiting for the situation to play out. Walmart will report its Q2 fiscal 2022 earnings on August 16. The results are less important than management's commentary, which should provide many more details than Monday's press release as to the state of its inventory issue, the effects of inflation, and how Walmart is navigating stressed supply chains to make sure it isn't over-ordering for the holiday season. Investors interested in Walmart stock would do well to listen to management's tone, not just read the earnings call transcript. Often, listening to the earnings call can give a better reading on management's confidence. In this case, the significant points to look for are whether the worst of Walmart's negative growth is over and how it plans on returning to growth. There's no rush to go out and buy Walmart stock now, although it does stand out as a well-rounded company that should outperform the retail industry during times of lower consumer spending. Source: Nasdaq Aug 01, 2022: Walmart cutting prices on clothes, other products Aug. 01, 2022, 8:22 a.m. Walmart, the nation's largest retailer, will cut prices on clothing and other goods to trim its inventory, the company announced. In a statement posted to its website, Walmart said inflationary prices on fuel and food is "affecting customers' ability to spend" on other items such as apparel. This is requiring more markdowns on inventory to manage "prices to reflect certain supply chain costs and inflation and reducing storage costs associated with a backlog of shipping containers." "The increasing levels of food and fuel inflation are affecting how customers spend, and while we've made good progress clearing hardline categories, apparel in Walmart U.S. is requiring more markdown dollars. We're now anticipating more pressure on general merchandise in the back half; however, we're encouraged by the start we're seeing on school supplies in Walmart U.S." said Doug McMillon, Walmart Inc. president and chief executive officer. Walmart told shareholders to expect their earning per share for the second quarter to drop around 8-9% and decline to the 11-13% range for FY 2023. It will report its second quarter results Aug. 16. Source: AL.com Aug 01, 2022: Here come the discounts at Walmart, Target and other popular stores A glimmer of relief is emerging at the checkout aisle: the return of discounts. Walmart, Best Buy, Gap, Target, Bath & Body Works and others are increasing promotions and lowering prices on merchandise to entice inflation-weary shoppers to buy extra goods sitting on their shelves. Months ago these chains stocked up on merchandise, preparing for supply chain shortages and what they projected to be robust consumer demand. But since they ordered, their plans have been derailed by the highest inflation in more than 40 years and slumping consumer confidence. Rising inflation has forced many consumers to pull back - particularly low-and-middle income shoppers, several retailers say. Cash-strapped shoppers are struggling to afford groceries and gas and have curtailed their discretionary spending. This has left retailers with too much of the wrong stuff: Think back to the early days of the pandemic, when everyone was redoing their homes and buying new laptops. Stores are overloaded with that stuff now, and they need to discount those items to juice demand. "These retailers have mispositioned their inventory," said Brian Nagel, a retail analyst at Oppenheimer & Co. "In certain areas, they're too heavy on inventory and need to clear it out." So shoppers can expect to find more deals on discretionary goods such as clothing, electronics, furniture, home goods and bath items - the stuff that has been highly sought after since the start of the pandemic and many people may have already bought. Source: WFMZ Jul 31, 2022: Insider Selling: Walmart Inc. (NYSE: WMT) CEO Sells 9,708 Shares of Stock Jul 31st, 2022 Walmart Inc. (NYSE:WMT - Get Rating) CEO C Douglas Mcmillon sold 9,708 shares of Walmart stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $127.05, for a total transaction of $1,233,401.40. Following the completion of the sale, the chief executive officer now owns 1,507,454 shares of the company's stock, valued at $191,522,030.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. C Douglas Mcmillon also recently made the following trade(s): On Thursday, June 23rd, C Douglas Mcmillon sold 9,708 shares of Walmart stock. The stock was sold at an average price of $122.13, for a total transaction of $1,185,638.04. On Thursday, May 26th, C Douglas Mcmillon sold 9,708 shares of Walmart stock. The stock was sold at an average price of $125.61, for a total transaction of $1,219,421.88. Walmart Trading Up 1.8 % Shares of WMT stock opened at $132.05 on Friday. The company's 50-day moving average price is $124.86 and its 200-day moving average price is $137.52. The company has a current ratio of 0.86, a quick ratio of 0.23 and a debt-to-equity ratio of 0.43. The stock has a market cap of $361.97 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 3.75 and a beta of 0.52. Walmart Inc. has a twelve month low of $117.27 and a twelve month high of $160.77. Walmart (NYSE:WMT - Get Rating) last posted its earnings results on Tuesday, May 17th. The retailer reported $1.30 EPS for the quarter, missing analysts' consensus estimates of $1.48 by ($0.18). Walmart had a net margin of 2.26% and a return on equity of 19.05%. The company had revenue of $141.60 billion during the quarter, compared to analyst estimates of $138.05 billion. During the same period in the previous year, the company earned $1.69 EPS. The company's quarterly revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts predict that Walmart Inc. will post 6.4 earnings per share for the current year. Wall Street Analyst Weigh In A number of analysts recently commented on WMT shares. Guggenheim lowered their target price on shares of Walmart from $175.00 to $155.00 and set a "maintains" rating for the company in a research note on Tuesday, July 26th. Cowen decreased their price objective on shares of Walmart from $180.00 to $150.00 and set a "maintains" rating for the company in a research note on Tuesday, July 26th. Piper Sandler started coverage on shares of Walmart in a research note on Friday, July 22nd. They set a "neutral" rating and a $135.00 price objective for the company. StockNews.com cut shares of Walmart from a "strong-buy" rating to a "buy" rating in a research note on Monday, May 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Walmart from $166.00 to $142.00 and set a "maintains" rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, Walmart has a consensus rating of "Moderate Buy" and an average target price of $145.33. Institutional Inflows and Outflows A number of large investors have recently bought and sold shares of WMT. Cordant Inc. acquired a new position in Walmart in the first quarter valued at about $25,000. Conrad Siegel Investment Advisors Inc. purchased a new stake in Walmart during the first quarter worth about $27,000. Industrial Alliance Investment Management Inc. purchased a new stake in Walmart during the fourth quarter worth about $28,000. Ulland Investment Advisors LLC increased its stake in Walmart by 442.9% during the first quarter. Ulland Investment Advisors LLC now owns 190 shares of the retailer's stock worth $28,000 after purchasing an additional 155 shares during the period. Finally, Swaine & Leidel Wealth Services LLC purchased a new stake in Walmart during the first quarter worth about $28,000. Institutional investors and hedge funds own 30.79% of the company's stock. Walmart Company Profile (Get Rating) Walmart Inc engages in the operation of retail, wholesale, and other units worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications. Source: Defense World Jul 31, 2022: These Beaten-Down Stocks Could Reap Monster Returns From Strong Consumer Spending JUL 31, 2022 10:53AM EDT While much of the market is roiled by the idea of weakening consumer spending -- and results like Walmart's (NYSE: WMT) have panicked investors -- American Express' (NYSE: AXP) recent earnings call paints a more heartening picture. The giant payment card company reported spending by members at record levels, "led by a vigorous rebound in travel and entertainment." CEO Steve Squeri reports that while consumers may be spending less on goods, they are increasingly spending on experiences. So while they aren't buying as much apparel at Walmart, they are spending on travel and entertainment. Squeri also says that this category exceeded pre-pandemic levels for the first time in April. This doesn't necessarily mean the average consumer is splurging on plane tickets to the Caribbean or a luxury hotel when they get there, but it does mean that they are treating themselves to more affordable experiences closer to home, like dining out or enjoying a day trip. American Express is uniquely positioned to identify these trends since it has insights into the transactions and spending patterns of over 100 million consumers on a monthly basis. 1. Ruth's Hospitality Group Ruth's Hospitality Group (NASDAQ: RUTH), owner of Ruth's Chris Steakhouse, can certainly provide experiences that consumers can treat themselves to on special occasions. People may not be buying as many Weber grills, but they are going out to places like Ruth's Chris with friends and family to celebrate birthdays and other milestones. On its latest earnings call, the Ruth's Hospitality management team reported that sales have now exceeded pre-pandemic levels and that the company is seeing an increase in its "just because or special occasion business," bolstering American Express's viewpoint on the consumer. With an average check size of $83, Ruth's Chris is not a cheap night out, but it isn't out of the reach for the average consumer looking to celebrate a special occasion. During the first quarter, Ruth's Hospitality reported comparable restaurant sales growth of 41% compared to 2021 and 8% versus 2019. In addition to sitting in pole position for a resurgence in travel and entertainment spending, Ruth's Hospitality Group is also modestly valued at just 10 times forward earnings. And it sports a juicy current dividend yield of 3.3%. 2. Texas Roadhouse Like Ruth's Hospitality, fellow steakhouse stock Texas Roadhouse (NASDAQ: TXRH) is in the catbird seat for a resurgence in travel and entertainment spending. Texas Roadhouse is also more affordable than Ruth's Chris, with a per-guest average check size of $19.68, making it an option for an even wider swath of consumers to enjoy a night out. It seems that more and more customers are frequenting Texas Roadhouse's locations as the company reported comparable restaurant sales growth of 16% for company-owned restaurants and 20% for franchised domestic restaurants during the first quarter. Furthermore, for the first five weeks of the second quarter, the company says it saw a 9% increase in comparable sales compared to the year before. All told, revenue grew by an impressive 23% compared to the year before. In addition to its namesake Texas Roadhouse locations, Texas Roadhouse also owns Bubba's 33, which describes itself as "family dining meets garage bar," a concept that should also do well in an environment where spending on entertainment is increasing. With 632 Texas Roadhouse units and 36 Bubba's 33 units across the U.S. and internationally, there is plenty of room for Texas Roadhouse to keep growing its footprint. Shares of Texas Roadhouse are more expensive than those of Ruth's Hospitality Group, but they don't look unreasonable at 17.6 times forward earnings. In addition, Texas Roadhouse pays out a dividend which now yields a decent 2.2%. Texas Roadhouse also has a sizable $300 million share repurchase program in place, and repurchased nearly $30 million worth of shares during the first five weeks of the second quarter. 3. Callaway Golf Going out and spending on travel and entertainment doesn't have to be limited to restaurants. Callaway Golf (NYSE: ELY) is another stock that could be attractively positioned as consumers spend more on experiences -- not just because it sells golf clubs, but also because it's the parent company of Topgolf. Topgolf can perhaps best be described as a gamified driving range that also serves food and beverages, and over the last few years it's become a popular destination for a day or night out. Topgolf has grown from 40 venues in 2017 to 70 at the end of 2021. But Callaway's ambitions for it don't end there -- it wants to double the number of Topgolf players from 28.5 million in 2021 to 57 million by 2025. The company believes that the number of Topgolf locations is only 20% of what it could be when the market is fully penetrated. Callaway has increased its revenue at a 17% compound annual growth rate (CAGR) over the last six years, and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) have grown 32% over the same time frame. The company's goal is to grow this adjusted EBITDA from $448 million last year to $800 million or more in 2025. Callaway isn't valued as inexpensively as Texas Roadhouse or Ruth's Hospitality, and it does not currently pay a dividend. But the growth potential here is immense as Topgolf grows in popularity and consumers continue to spend on new experiences. There's been a lot of hand-wringing about consumers spending less on goods. But American Express' findings, coupled with details on these three stocks, show that consumers are increasingly spending on travel and entertainment. Whether they're hitting the driving range or grabbing a tomahawk steak, they're creating a tailwind that should propel all three of these stocks. Source: Nasdaq Jul 31, 2022: Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed. NEW YORK, July 31, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Teladoc Health, Inc. (NYSE: TDOC), Verrica Pharmaceuticals, Inc. (NASDAQ: VRCA), Apyx Medical Corporation (NASDAQ: APYX), and Waste Management, Inc. (NYSE: WM). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided. Class Period: October 28, 2021 - April 27, 2022 Lead Plaintiff Deadline: August 5, 2022 Teladoc provides virtual healthcare services in the U.S. and internationally through Business-to-Business ("B2B") and Direct-to-Consumer ("D2C") distribution channels. The Company offers its customers various virtual products and services addressing, among other medical issues, mental health through its BetterHelp D2C product, and chronic conditions. Teladoc touts itself as "the first and only company to provide a comprehensive and integrated whole person virtual healthcare solution that both provides and enables care for a full spectrum of clinical conditions[.] Despite recent market concerns over new entrants to the telehealth field, such Amazon.com, Inc. ("Amazon") and Walmart Inc. ("Walmart"), the Company has continued to assure investors of the Company's dominant market position in the industry. In fact, as recently as February 2022, Teladoc forecasted full year ("FY") 2022 revenue of $2.55 - $2.65 billion, as well as adjusted earnings before interest, taxes, depreciation, and amortization ("EBITDA") of $330 - $355 million, on anticipated continued growth through its competitive advantages. Throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) increased competition, among other factors, was negatively impacting Teladoc's BetterHelp and chronic care businesses; (ii) accordingly, the growth of those businesses was less sustainable than Defendants had led investors to believe; (iii) as a result, Teladoc's revenue and adjusted EBITDA projections for FY 2022 were unrealistic; (iv) as a result of all the foregoing, Teladoc would be forced to recognize a significant non-cash goodwill impairment charge; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times. On April 27, 2022, Teladoc announced its first quarter ("Q1") 2022 financial results, including revenue of $565.4 million, which missed consensus estimates by $3.23 million, and [n]et loss per share of $41.58, primarily driven by [a] non-cash goodwill impairment charge of $6.6 billion or $41.11 per share[.] Additionally, the Company revised its FY 2022 revenue guidance to $2.4 - $2.5 billion and adjusted EBITDA guidance to $240 - $265 million "to reflect dynamics we are currently experiencing in the [D2C] mental health and chronic condition markets." On a conference call with investors and analysts that day to discuss Teladoc's Q1 2022 results, Defendants largely attributed the Company's poor performance, revised FY 2022 guidance, and $6.6 billion non-cash goodwill impairment charge to increased competition in its BetterHelp and chronic care businesses. On this news, Teladoc's stock price fell $22.48 per share, or 40.15%, to close at $33.51 per share on April 28, 2022. For more information on the Teladoc class action go to: https://bespc.com/cases/TDOC Verrica Pharmaceuticals, Inc. (NASDAQ: VRCA) Class Period: May 28, 2021 - May 24, 2022 Lead Plaintiff Deadline: August 5, 2022 In December 2020, Verrica submitted its New Drug Application ("NDA") to the U.S. Food and Drug Administration ("FDA") seeking regulatory approval of VP-102 for the treatment of molluscum. On September 20, 2021, after the market closed, Verrica announced receipt of a Complete Response Letter ("CRL") due to deficiencies at a facility of Verrica's contract manufacturer in connection with the Company's NDA. On this news, the Company's stock price fell $1.00, or 8.3%, to close at $11.03 per share on September 21, 2021, on unusually heavy trading volume. In November 2021, Verrica resubmitted the NDA for VP-102, claiming [t]he resubmission addresses the successful resolution of inspection deficiencies" at the manufacturing facility. Then, on May 24, 2022, after the market closed, Verrica announced receipt of another Complete Response Letter regarding the VP-102 NDA citing "deficiencies identified during a general reinspection of Sterling Pharmaceuticals Services, LLC (Sterling), the contract manufacturing organization (CMO) that manufactures Verrica's bulk solution drug product." On this news, the Company's shares fell $3.55, or 63.8%, to close at $2.01 per share on May 25, 2022, on unusually heavy trading volume. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that there were manufacturing deficiencies at the facility where Verrica's contract manufacturer produced bulk solution for VP-102; (2) that these deficiencies were not remediated when Verrica resubmitted its NDA for VP-102 for molluscum; (3) that the foregoing presented significant risks to Verrica obtaining regulatory approval of VP-102 for molluscum; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. For more information on the Verrica class action go to: https://bespc.com/cases/VRCA Apyx Medical Corporation (NASDAQ: APYX) Class Period: May 12, 2021 - March 11, 2022 Lead Plaintiff Deadline: August 5, 2022 On March 14, 2022, Apyx disclosed that the U.S. Food and Drug Administration ("FDA") would be posting a Medical Device Safety Communication ("MDSC") related to the Company's Advanced Energy Products. The Company further disclosed that [b]ased on our initial interactions with the FDA, we believe the Agency's MDSC will pertain to the use of our Advanced Energy products outside of their FDA-cleared indication for general use in cutting, coagulation, and ablation of soft tissue during open and laparoscopic surgical procedures." On this news, the Company's stock fell $4.02, or 40.6%, to close at $5.88 per share on March 14, 2022, on unusually heavy trading volume. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that a significant number of Apyx's Advanced Energy products were used for off-label indications; (2) that such off-label uses led to an increase in the number of medical device reports filed by Apyx reporting serious adverse events; (3) that, as a result, the Company was reasonably likely to incur regulatory scrutiny; (4) that, as a result of the foregoing, the Company's financial results would be adversely impacted; and (5) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. For more information on the Apyx class action go to: https://bespc.com/cases/APYX Waste Management, Inc. (NYSE: WM) Class Period: February 13, 2020 - June 23, 2020 Lead Plaintiff Deadline: August 8, 2022 On April 14, 2019, Waste Management entered into an agreement and plan of merger to acquire Advanced Disposal Services, Inc. for $4.9 billion, or $33.15 per share. The merger was conditioned upon, among other things: (i) the affirmative vote of the holders of a majority of the outstanding shares of Advanced Disposal Services at a special meeting of Advanced Disposal Services shareholders to be held on June 28, 2019 (which was ultimately obtained); and (ii) obtaining antitrust clearance from regulators, including the U.S. Department of Justice (DOJ). Knowing that the transaction posed significant antitrust concerns, Waste Management agree in the Merger Agreement to divest up to $200 million in revenue-producing assets of the combined companies over a prior 12-month period (the Antitrust Revenue Threshold). Under the merger agreement, Waste Management maintained full control over the negotiating strategy for obtaining antitrust consent from the DOJ and was not obliged to divest assets that exceeded the Antitrust Revenue Threshold. Rather, Waste Management had a right to terminate the deal for failure to obtain antitrust approval. On May 14, 2019, Waste Management issued $4 billion worth of senior notes in a public offering to finance Waste Management's acquisition of Advanced Disposal Services. All series received an investment grade rating. As described in the final prospectus for the Notes, four of the five series, totaling $3 billion in principal, were subject to a special mandatory redemption (SMR) clause in the merger agreement. The SMR clause required Waste Management to repurchase the Notes for 101% of par in the event the Merger was note completed by July 14, 2020, the end date under the Merger Agreement (the End Date). In the Notes prospectus, Waste Management represented that the Merger would close by the first quarter of 2020. And to address the concerns raised by the DOJ, Waste Management and Advanced Disposal S4ervices engaged in extensive negotiations with several potential divesture buyers, including GFL Environmental, Inc., for the divesture of assets well in excess of the Antitrust Revenue Threshold. On June 24, 2020, Waste Management announced that it and Advanced Disposal Services had revised the terms of the merger and that Waste Management needed to divest substantially more assets than previously disclosed to receive DOJ approval for the deal. Under the revised merger terms, Waste Management had agree to purchase Advanced Disposal Services for $4.6 billion, or $30.30 per share, thereby reducing Waste Management's acquisition cost by approximately $300 million to $4.6 billion. In addition, Waste Management and Advanced Disposal Services had agreed to sell $835 million worth of assets in an attempt to satisfy antitrust regulators, which assets were responsible for generating approximately $345 million in 2019 revenue. Notably, approximately $300 million of the total revenue related to assets and businesses were being sold to GFL Environmental, with whom Waste Management had been in extended negotiations for months prior to the Class Period. Furthermore, Waste Management revealed that the deal was now not expected to close until the end of the third quarter of 2020 six months later than had been represented by defendants at the start of the Class Period and, crucially, after the End Date which triggered the SMR redemption feature of the Notes. As a result of this disclosure, the prices of the Notes fell significantly. The Waste Management class action lawsuit alleges that, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (i) the DOJ had indicated to Waste Management that it would require Waste Management to divest significantly more assets than the $200 million Antitrust Revenue Threshold; (ii) as a result, the merger would not be completed by the End Date; and (iii) the Notes would be subject to mandatory redemption at 101% of par. For more information on the Waste Management class action go to: https://bespc.com/cases/WM About Bragar Eagel & Squire, P.C.: Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes. Source: Bragar Eagel & Squire, P.C. Reminds Investors That Class. Jul 29, 2022: Why Walmart's Sell-Off Could Be a Buying Opportunity JUL 29, 2022 5:25AM EDT Walmart's (NYSE: WMT) stock got slammed Tuesday after the retailer slashed its profit guidance for the second quarter and the full year. Mirroring earlier comments from Target and other retailers, Walmart said that inflation in areas like food and fuel was weighing on general merchandise categories like apparel and home goods. According to the retail giant, consumers are cutting back their spending on discretionary categories because prices for consumer staples have risen so much. Walmart actually said sales growth was stronger than expected, with comparable sales at U.S. stores up 6% in the quarter, compared to its earlier guidance of 4% to 5%, due to higher prices in categories like food. It also called for overall net sales to increase by 7.5% in the quarter. However, the bottom line is clearly taking a hit from bloated inventory, supply chain challenges, inflation, and consumer spending challenges. Management called for operating income to decline 13% to 14% in the second quarter and 10% to 12% for the full year, excluding divestitures. The stock price fell 7.6% on the news, echoing a plunge back in May when the company came up short on the bottom line due to the impact of inflation. A retail recession Taken at face value, Walmart's guidance cut seems to imply that consumers are reeling from higher prices and cutting back in other areas, but the performance of consumer discretionary companies like McDonald's and Chipotle Mexican Grill dispels that notion. McDonald's, the world's biggest restaurant chain, reported comparable sales up 3.7% in the U.S., though operating income fell due to inflation in labor and commodities as well as restaurant closures in Russia and Ukraine. Chipotle, meanwhile, posted 10.1% comparable sales growth and expanded its operating margin from 13% to 15.3%, delivering strong profit growth even in an inflationary environment. What McDonald's and Chipotle's sales growth seems to indicate is that consumers are still spending, but their spending has shifted from the pandemic era when they were stocking up on home goods and other products to help them manage through the depths of the stay-at-home period. That, in combination with a spike in inventory due to supply chain challenges, is the main cause of Walmart's declining profits. Why the stock could be a smart buy It's not surprising to see Walmart stock down on the guidance cut, but the challenges the company is facing are temporary in nature. The company's inventory levels will eventually normalize as price cuts to clear inventory are a major reason for falling profits, and macroeconomic factors like inflation will also moderate. Meanwhile, Walmart's strength in groceries, which represents a majority of sales from its U.S. stores, gives it an advantage over general merchandise retailers like department stores, who are likely dealing with similar inventory gluts in areas like apparel but can't offset it with grocery sales. Recessions are generally tough on retailers, but Walmart tends to outperform during economic downturns because of its reputation for everyday low prices. A recession could actually be good for Walmart over the long term. And the supply chain and inflation challenges across the retail industry also give Walmart an opportunity to gain market share, given its strength in groceries. Additionally, since the challenges Walmart is facing are short-term, the company is likely to be in a better position a year from now when its inventory levels and consumer spending patterns have normalized. Walmart stock fell to a two-year low on the news and now trades at a forward price-to-earnings ratio of 17.5. Once its performance starts to rebound, the stock could have significant upside potential given its growth in e-commerce, advertising, and competitive advantages like economies of scale and low prices. Source: Nasdaq Jul 28, 2022: Getaway and Walmart Announce New General Stores at Getaway Outposts Coming This Fall July 28, 2022 BROOKLYN, N.Y., and BENTONVILLE, Ark., July 28, 2022 - Today Walmart (NYSE: WMT) and Getaway, a health and wellness hospitality company on a mission to make space in the world for free time, announced a new partnership that helps guests live better by aiming to make traveling to nature even easier and convenient. The new alliance, which designates Walmart as Getaway's first official retail partner, will introduce innovative offerings for guests starting this fall such as The General Store by Walmart, opening at select Getaway Outposts. The General Store by Walmart, a mini-retail experience at select Getaway Outposts, will include seasonal products, sourced from Walmart and curated by the outdoor experts at Getaway. Items may include hiking gear, leisure activities and equipment including FujiFilm cameras, Lodge Cast Iron Skillets, Pendleton Outdoor Blankets and Burt's Bees lip balms to name a few. The everyday items will be available at the Outpost, saving guests from having to travel off the property if they forgot an item at home. At the time of check-in for the next six months, guests will also receive Welcome Kits, which will include ingredients to make the ultimate camping treat: s'mores. The General Store will also feature quality goods from small businesses within the community, furthering Getaway and Walmart's commitment to supporting local communities. The first General Store will open this August at Getaway Hill Country in Wimberley, Texas, located near Austin and San Antonio. Additional retail General Stores will open through the end of the year at Machimoodus in Moodus, Connecticut; Getaway Big Bear in Running Springs, California; Getaway Western Catskills in Roscoe, New York; and Getaway Ozark Highlands in Osceola, Missouri. "At Getaway, our mission is to help people disconnect and spend time in nature," said Carlos Becil, Chief Experience Officer at Getaway. "In partnering with Walmart, we are able to amplify our efforts to a larger audience and provide our guests with more free time, helping them prepare for their stays and enjoy the comforts of nature once they arrive." Items on sale at The General Store by Walmart will also be available on Walmart.com via a Getaway shopping page for guests to shop in advance of their visit. Getaway guests who visit any Outpost over the next year will also receive a complimentary Walmart+ trial. "Walmart's partnership with Getaway furthers our mission to help people live better no matter where they are," said Casey Schlaybaugh, Vice President, Brand Marketing, Walmart U.S. "We are going beyond just saving people money by enabling guests to maximize Getaway's experience and empowering them to spend more quality time with those who matter most." Getaway offers guests disconnected stays in nature located less than a two-hour drive from major cities across the country. As a result of continued demand, Getaway, which averages above 84% occupancy over the year across Outposts, recently announced new Outposts opening, amounting to 28 total locations before the end of 2022. For more information on Getaway's new partnership with Walmart, visit journal.getaway.house/tips-and-tricks-for-your-getaway. Source: Walmart Inc. Jul 28, 2022: Walmart launching "mini-retail experience" for travel Walmart is embarking on a "mini-retail" journey with health and wellness hospitality company Getaway to add small general stores at select travel outposts across the country. Why it matters: People are transitioning from spending on stuff to spending on experiences after two years of being cooped up amid the pandemic, Nathan Bomey reports for Axios Closer. Driving the news: The world's largest retailer said Thursday that it will open the first "General Store by Walmart" in August at Getaway Hill Country in Wimberley, Texas, located near Austin and San Antonio. Getaway, a network of modern cabin retreats, said in a news release that it has averaged "above 84% occupancy over the year across Outposts" and recently announced nine new Outposts will open because of continued demand. The companies say the partnership's goal is to help consumers "live better by aiming to make traveling to nature even easier and convenient." Zoom out: Walmart said Monday that it expects its profits from the second quarter to come in below previous estimates, saying the effects of inflation are having a ripple effect on customers, Axios' Hope King reports. Walmart expects a decline of 11% to 13% for the full year, down from a previously expected 1% drop. General Store by Walmart coming to Getaway Meanwhile, after the Texas store opens, there are plans to open four more General Store locations through the end of the year. The planned locations include: Getaway Machimoodus in Moodus, Connecticut; Getaway Big Bear in Running Springs, California; Getaway Western Catskills in Roscoe, New York; and Getaway Ozark Highlands in Osceola, Missouri. Getaway said it offers "disconnected stays in nature located less than a two-hour drive from major cities across the country" and will have 28 Outposts by the end of 2022. Context: Walmart told Axios the small stores are approximately 75 square feet and the retailer's "first micro-retail shopping experience." Details: The General Store by Walmart will include seasonal products, sourced from the retailer featuring products from local small businesses and curated by Getaway outdoor experts. Available items included everyday items as well as hiking gear, leisure activities and campfire equipment, according to a news release. Items on sale at The General Store by Walmart will also be available through a Getaway shopping page on Walmart's website. What they're saying: Carlos Becil, Getaway's chief experience officer, said the company's mission is to help people disconnect and spend time in nature. "In partnering with Walmart, we are able to amplify our efforts to a larger audience and provide our guests with more free time, helping them prepare for their stays and enjoy the comforts of nature once they arrive,' Becil said in a statement. Source: Axios Jul 28, 2022: Should You Buy Walmart Stock After Its Latest Announcement? JUL 28, 2022 10:07AM EDT Walmart (NYSE: WMT) updated investors about its business outlook after the markets closed on Monday, reporting that consumer spending is shifting faster than it had anticipated. Among the side effects of the pandemic have been supply chain disruptions and global shortages that have raised prices on everything from groceries to fuel. That inflation has been further propelled by geopolitical issues, which have reduced the supplies of crude oil and natural gas reaching the market, pushing energy prices higher. The result of this is that folks have less money for discretionary items like TVs, apparel, and other general merchandise of the types that they spent more heavily on earlier during the pandemic, when lockdowns and social distancing measures meant they were spending much more of their time at home. Walmart said it would have to mark down prices on those types of products to move its excess inventory. The stock closed Tuesday's session down by 7.6% in the wake of the announcement. But now, that share price dip has some investors asking if this is a smart time to buy Walmart stock. Walmart to cut prices on non-food categories In Monday's press release, Walmart predicted that its earnings per share would fall by between 8% and 9% in its fiscal 2023 second quarter. It also forecast an earnings per share decline of between 11% and 12% for the fiscal year. Previously, management had been guiding for a 1% decrease in earnings per share in fiscal Q2, and for earnings to be in the range of flat to up slightly for the year. However, Walmart also said that its comparable-store sales, which exclude the impact of new store openings and closings, will rise by 6% in fiscal Q2. That was higher than the previous expectation for comp sales to increase by 3.5%. This dynamic of rising sales and falling earnings is driven by changes in consumer spending. Price inflation means that households are spending a larger share of their budgets on food. Additionally, Walmart's profit margins on food are lower than its margins on general merchandise, and sales of those more profitable categories are slowing. Walmart noted it would need to cut prices on categories outside of food and consumables to bring down the amount of excess inventory it had on hand. Since the pandemic began, demand had been exceeding supply at Walmart, so the company had been focused on procuring more inventory to meet consumers' apparently insatiable appetites. But now that the economy has reopened and inflation has soared, customers' shopping practices have changed. Meanwhile, Walmart's inventory rose to $61 billion in its most recently completed quarter, which ended on April 30. That was up by nearly $15 billion from the $46 billion inventory it had at the same time the previous year. Given the mismatch between what Walmart has for sale and what consumers are buying, it's understandable that it would need to discount large swathes of its merchandise. WMT PS Ratio data by YCharts That said, it's unclear how sharply Walmart will need to cut prices to sell its excess inventory. Further, the stock price only fell modestly in response to the news, and based on its current price-to-earnings ratio of 26 or its price-to-sales ratio of 0.6, it's not historically cheap now. For those reasons, Walmart's recent stock price dip has not created a meaningful buying opportunity yet. Source: Nasdaq Jul 28, 2022: FY2023 EPS Estimates for Walmart Inc. (NYSE: WMT) Lowered by Analyst Jul 29th, 2022 Walmart Inc. (NYSE:WMT - Get Rating) - DA Davidson cut their FY2023 EPS estimates for Walmart in a research note issued to investors on Tuesday, July 26th. DA Davidson analyst M. Baker now forecasts that the retailer will post earnings per share of $5.69 for the year, down from their prior forecast of $6.40. The consensus estimate for Walmart's current full-year earnings is $6.40 per share. DA Davidson also issued estimates for Walmart's FY2024 earnings at $6.42 EPS. WMT has been the subject of several other research reports. Truist Financial lowered their price objective on shares of Walmart from $139.00 to $117.00 in a research report on Tuesday. Citigroup cut their target price on Walmart from $166.00 to $152.00 in a research note on Tuesday. Wells Fargo & Company cut their price objective on shares of Walmart from $150.00 to $130.00 and set a "maintains" rating on the stock in a research note on Tuesday. Guggenheim lowered their target price on Walmart from $175.00 to $155.00 and set a "maintains" rating on the stock in a report on Tuesday. Finally, Evercore ISI lowered their target price on Walmart from $135.00 to $120.00 and set an "in-line" rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Walmart currently has an average rating of "Moderate Buy" and an average price target of $145.50. Walmart Trading Up 2.5 % NYSE WMT opened at $129.75 on Thursday. Walmart has a one year low of $117.27 and a one year high of $160.77. The company's 50 day moving average price is $124.61 and its 200 day moving average price is $137.64. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.23 and a current ratio of 0.86. The firm has a market capitalization of $355.66 billion, a price-to-earnings ratio of 27.90, a PEG ratio of 3.75 and a beta of 0.52. Walmart (NYSE:WMT - Get Rating) last posted its quarterly earnings results on Tuesday, May 17th. The retailer reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $1.48 by ($0.18). The company had revenue of $141.60 billion for the quarter, compared to analyst estimates of $138.05 billion. Walmart had a return on equity of 19.05% and a net margin of 2.26%. The business's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the company earned $1.69 earnings per share. Insider Activity at Walmart In related news, CEO C Douglas Mcmillon sold 9,708 shares of the stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $122.13, for a total transaction of $1,185,638.04. Following the sale, the chief executive officer now directly owns 1,517,160 shares of the company's stock, valued at $185,290,750.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 47.06% of the stock is currently owned by insiders. Institutional Inflows and Outflows A number of institutional investors have recently bought and sold shares of the company. Flynn Zito Capital Management LLC bought a new position in Walmart in the second quarter valued at about $440,000. Exchange Capital Management Inc. raised its stake in shares of Walmart by 4.3% in the second quarter. Exchange Capital Management Inc. now owns 2,454 shares of the retailer's stock worth $298,000 after buying an additional 101 shares during the period. Baker Tilly Wealth Management LLC raised its stake in shares of Walmart by 12.9% in the second quarter. Baker Tilly Wealth Management LLC now owns 17,027 shares of the retailer's stock worth $2,070,000 after buying an additional 1,948 shares during the period. Professional Financial Advisors LLC raised its stake in shares of Walmart by 1.8% in the second quarter. Professional Financial Advisors LLC now owns 6,970 shares of the retailer's stock worth $847,000 after buying an additional 121 shares during the period. Finally, Comgest Global Investors S.A.S. raised its stake in shares of Walmart by 47.1% in the second quarter. Comgest Global Investors S.A.S. now owns 18,015 shares of the retailer's stock worth $2,190,000 after buying an additional 5,765 shares during the period. Institutional investors own 30.79% of the company's stock. Walmart Company Profile (Get Rating) Walmart Inc engages in the operation of retail, wholesale, and other units worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications. Source: Defense World Jul 28, 2022: Q3 2023 EPS Estimates for Walmart Inc. (NYSE: WMT) Reduced by Oppenheimer Jul 29th, 2022 Walmart Inc. (NYSE:WMT - Get Rating) - Analysts at Oppenheimer lowered their Q3 2023 earnings estimates for shares of Walmart in a research report issued to clients and investors on Monday, July 25th. Oppenheimer analyst R. Parikh now anticipates that the retailer will earn $1.15 per share for the quarter, down from their previous forecast of $1.56. Oppenheimer currently has a "Maintains" rating and a $135.00 target price on the stock. The consensus estimate for Walmart's current full-year earnings is $6.40 per share. Oppenheimer also issued estimates for Walmart's FY2023 earnings at $5.62 EPS and FY2024 earnings at $6.05 EPS. A number of other research analysts have also weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Walmart from $150.00 to $130.00 and set a "maintains" rating on the stock in a research note on Tuesday. Evercore ISI decreased their price target on shares of Walmart from $135.00 to $120.00 and set an "in-line" rating on the stock in a research note on Tuesday. Truist Financial decreased their price target on shares of Walmart from $139.00 to $117.00 in a research note on Tuesday. Piper Sandler started coverage on shares of Walmart in a research note on Friday, July 22nd. They issued a "neutral" rating and a $135.00 price target on the stock. Finally, Morgan Stanley decreased their target price on shares of Walmart from $156.00 to $145.00 and set a "maintains" rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $145.50. Walmart Trading Up 2.5 % Shares of Walmart stock opened at $129.75 on Thursday. The firm has a market capitalization of $355.66 billion, a PE ratio of 27.90, a P/E/G ratio of 3.75 and a beta of 0.52. Walmart has a twelve month low of $117.27 and a twelve month high of $160.77. The firm's 50-day moving average price is $124.61 and its 200 day moving average price is $137.64. The company has a current ratio of 0.86, a quick ratio of 0.23 and a debt-to-equity ratio of 0.43. Walmart (NYSE:WMT - Get Rating) last posted its earnings results on Tuesday, May 17th. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.18). Walmart had a return on equity of 19.05% and a net margin of 2.26%. The firm had revenue of $141.60 billion for the quarter, compared to analysts' expectations of $138.05 billion. During the same period in the previous year, the company earned $1.69 earnings per share. The company's revenue was up 2.4% compared to the same quarter last year. Hedge Funds Weigh In On Walmart Several institutional investors have recently modified their holdings of the business. Trust Co. of Virginia VA grew its stake in shares of Walmart by 0.4% in the first quarter. Trust Co. of Virginia VA now owns 14,848 shares of the retailer's stock worth $2,211,000 after acquiring an additional 64 shares in the last quarter. Mayflower Financial Advisors LLC grew its stake in shares of Walmart by 2.5% in the first quarter. Mayflower Financial Advisors LLC now owns 2,646 shares of the retailer's stock worth $394,000 after acquiring an additional 65 shares in the last quarter. Integral Investment Advisors Inc. lifted its position in shares of Walmart by 1.4% during the 1st quarter. Integral Investment Advisors Inc. now owns 4,802 shares of the retailer's stock worth $715,000 after purchasing an additional 66 shares during the last quarter. One Charles Private Wealth Services LLC lifted its position in shares of Walmart by 2.2% during the 1st quarter. One Charles Private Wealth Services LLC now owns 3,086 shares of the retailer's stock worth $460,000 after purchasing an additional 66 shares during the last quarter. Finally, Bank of New Hampshire lifted its position in shares of Walmart by 0.4% during the 1st quarter. Bank of New Hampshire now owns 15,806 shares of the retailer's stock worth $2,354,000 after purchasing an additional 68 shares during the last quarter. Institutional investors and hedge funds own 30.79% of the company's stock. Insider Activity at Walmart In related news, CEO C Douglas Mcmillon sold 9,708 shares of Walmart stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $122.13, for a total value of $1,185,638.04. Following the completion of the sale, the chief executive officer now owns 1,517,160 shares in the company, valued at approximately $185,290,750.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 47.06% of the stock is owned by insiders. Walmart Company Profile (Get Rating) Walmart Inc engages in the operation of retail, wholesale, and other units worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications. Source: Defense World Jul 28, 2022: Walmart Inc. Expected to Earn Q2 2023 Earnings of $1.63 Per Share (NYSE: WMT) Jul 29th, 2022 Walmart Inc. (NYSE:WMT - Get Rating) - Analysts at Telsey Advisory Group cut their Q2 2023 earnings per share estimates for shares of Walmart in a note issued to investors on Tuesday, July 26th. Telsey Advisory Group analyst J. Feldman now anticipates that the retailer will post earnings per share of $1.63 for the quarter, down from their prior estimate of $1.83. Telsey Advisory Group currently has a "Outperform" rating and a $145.00 price objective on the stock. The consensus estimate for Walmart's current full-year earnings is $6.40 per share. Telsey Advisory Group also issued estimates for Walmart's Q4 2023 earnings at $1.48 EPS, Q2 2024 earnings at $1.88 EPS, Q3 2024 earnings at $1.40 EPS, Q4 2024 earnings at $1.55 EPS and FY2024 earnings at $6.40 EPS. Walmart (NYSE:WMT - Get Rating) last released its quarterly earnings data on Tuesday, May 17th. The retailer reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $1.48 by ($0.18). The company had revenue of $141.60 billion for the quarter, compared to analysts' expectations of $138.05 billion. Walmart had a net margin of 2.26% and a return on equity of 19.05%. The business's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.69 EPS. Other equities analysts have also issued research reports about the company. Stifel Nicolaus restated a "maintains" rating on shares of Walmart in a research note on Tuesday. Stephens cut their price target on Walmart to $160.00 and set an "underweight" rating for the company in a research note on Thursday, May 19th. Oppenheimer cut their price target on Walmart from $165.00 to $135.00 and set a "maintains" rating for the company in a research note on Tuesday. BMO Capital Markets restated a "maintains" rating on shares of Walmart in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Walmart from $166.00 to $142.00 and set a "maintains" rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $145.50. Walmart Stock Performance NYSE WMT opened at $129.75 on Thursday. The stock has a 50-day simple moving average of $124.61 and a two-hundred day simple moving average of $137.64. The firm has a market capitalization of $355.66 billion, a P/E ratio of 27.90, a PEG ratio of 3.75 and a beta of 0.52. Walmart has a fifty-two week low of $117.27 and a fifty-two week high of $160.77. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.23 and a current ratio of 0.86. Hedge Funds Weigh In On Walmart Several large investors have recently bought and sold shares of WMT. Cordant Inc. purchased a new position in Walmart in the first quarter valued at $25,000. Conrad Siegel Investment Advisors Inc. purchased a new position in Walmart in the first quarter valued at $27,000. Industrial Alliance Investment Management Inc. purchased a new position in Walmart in the fourth quarter valued at $28,000. Ulland Investment Advisors LLC increased its holdings in Walmart by 442.9% in the first quarter. Ulland Investment Advisors LLC now owns 190 shares of the retailer's stock valued at $28,000 after buying an additional 155 shares during the last quarter. Finally, Swaine & Leidel Wealth Services LLC purchased a new position in Walmart in the first quarter valued at $28,000. Hedge funds and other institutional investors own 30.79% of the company's stock. Insider Transactions at Walmart In other news, CEO C Douglas Mcmillon sold 9,708 shares of the company's stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $122.13, for a total transaction of $1,185,638.04. Following the sale, the chief executive officer now owns 1,517,160 shares of the company's stock, valued at $185,290,750.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 47.06% of the company's stock. Walmart Company Profile (Get Rating) Walmart Inc engages in the operation of retail, wholesale, and other units worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications. Source: Defense World Jul 27, 2022: Walmart's lower profit outlook affects other retailer stocks Walmart Inc.'s release late Monday of a lower profit outlook for the current quarter and fiscal year sent not only its own stock but that of other retailers sliding in after-hours trading. Because of inflation and markdowns on excess inventory at Walmart and Sam's Club stores, the Bentonville-based retailer said it now expects earnings per share to fall 8% to 9% in the second quarter rather than staying flat or rising slightly, as it originally reported. For the fiscal year, the company had expected earnings per share to slip about 1%. On Monday, Walmart lowered that estimate to a plunge of 11% to 13%. The revised guidance was released shortly after the 3 p.m. stock market close. By 5:30 p.m., Walmart shares had dropped 10%. Shares of other retailers, including Target, Amazon.com, Kohl's and Macy's, also tumbled in after-hours trading after Walmart's announcement. Walmart shares closed Tuesday at $121.98, down $10.04, or 7.60%, on the New York Stock Exchange. The company's shares have traded between $117.27 and $160.77 in the past year. Walmart founder Sam Walton's three surviving children, a daughter-in-law and a grandson lost a collective $12.3 billion on Tuesday, according to Fortune's Real-Time Billionaire's list. Other retailers have revised their profit guidance downward in the last few weeks, with Target among the first to do so. Brian Yarbrough, a retail analyst with financial services firm Edward Jones, said Walmart's move Monday wasn't a total surprise. The retailer started the quarter with millions of dollars' worth of excess inventory, especially in apparel and general merchandise, Walmart Chief Executive Doug McMillon said in May. "I think that lower-income customer is being squeezed a lot more than the middle- to higher-income customers are from inflation," Yarbrough said. And shoppers with fewer discretionary dollars are spending their money on necessities such as food and gas instead of higher-margin goods such as apparel, electronics and furniture. At the same time, the middle- to higher-income consumers who shifted their spending during the pandemic away from travel, leisure and entertainment and toward goods are now reversing that trend at the expense of goods, Yarbrough said. Analysts expected that slowdown in spending on goods, he said, but with the double whammy of excess inventory and the cash-strapped consumer, "Walmart was in a tough spot." Yarbrough said Walmart probably made a mistake by deciding to clear out inventory over several quarters instead of emulating Target, which said it wanted all its excess product out by the end of the second quarter. Target got very aggressive in its efforts to meet its goal, Yarbrough said, and now Walmart will likely have to get aggressive too. But inflation remains the unknown factor in the equation. Consumer prices were up 9.1% in June compared to the previous year, the Bureau of Labor Statistics reported earlier this month. "If inflation is still running at 7% to 8% by year-end, then I think people are going to have burned through a lot of the savings from the stimulus and all that and you'll probably see a bigger slowdown" in spending, Yarbrough said. "But if inflation starts to slow and you get that under control, I think the consumer will continue to spend well into next year," he said. Sales on Walmart's top line remain very good, Yarbrough said, and the revised outlook still shows them up 6%. "It's just the profit side of things" that's the problem, he said, "and that's very company-specific for them right now. They were over-inventoried." Walmart is scheduled to report its second-quarter results on Aug. 16. Source: The Arkansas Democrat-Gazette Jul 27, 2022: Walton family fortune falls by $12.9 bn after Walmart slashes earnings outlook Jul 27 2022 07:19:06 PM Bentonville, Jul 27 (IANS): The Walton family fortune fell $12.9 billion on Tuesday after Walmart Inc. slashed its earnings outlook for the second time this year, Bloomberg reported. Shares of the Bentonville, Arkansas-based retailer, which is controlled by the family, tumbled as much as 9.1 per cent in New York trading after it said, adjusted earnings per share will decline as much as 13 per cent this year with US shoppers reining in spending on big-ticket items amid soaring consumer prices. Two months ago, the company said, earnings per share would only dip about 1 per cent, while in February, it had predicted a modest increase. The family's late patriarch, Sam Walton, built the business around a discount culture that has, in the past, helped buoy its stock during recessionary times. In revising its outlook, Walmart cited the cost of reducing merchandise stockpiles that customers were increasingly reluctant to buy as inflation hits a four-decade high, Bloomberg reported. Walton's three surviving children, Alice, Jim and Rob, daughter-in-law Christy and Christy's son, Lukas, own just under half of the retailer. That gives them a combined net worth of about $198 billion, according to the Bloomberg Billionaires Index, down by 11 per cent since the first of the year. The Walton family, which owns its Walmart stake through various trusts, has stepped up its stock sales in recent years. They unloaded $6.2 billion in shares last year, which the company has said, is part of a strategy to keep the family's stake under 50 per cent amid buybacks. Source: Daijiworld Jul 27, 2022: Is Walmart Inc (WMT) Stock a Good Value? July 27, 2022 3:05 PM Walmart Inc (WMT) stock is lower by -11.50% over the last 12 months, and the average rating from Wall Street analysts is a Buy. InvestorsObserver's proprietary ranking system, gives WMT stock a score of 22 out of a possible 100. That rank is primarily influenced by a short-term technical score of 13. WMT's rank also includes a long-term technical score of 24. What's Happening with WMT Stock Today Walmart Inc (WMT) stock is up 3.48% while the S&P 500 has gained 2.47% as of 3:02 PM on Wednesday, Jul 27. WMT has gained $4.24 from the previous closing price of $121.99 on volume of 9,249,785 shares. Over the past year the S&P 500 is down -8.71% while WMT is lower by -11.50%. WMT earned $4.65 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 27.15. Click Here to get the full Stock Report for Walmart Inc stock. Source: InvestorsObserver Jul 27, 2022: World's richest family, the Waltons, loses $11.4 bn as shares of Walmart decline by 8% Ankush Verma / 03:25 pm on 27 Jul 2022,Wednesday World's richest family, the Waltons, lost $11.4 billion on Tuesday after Walmart Inc slashed its earnings outlook for the second time this year. Shares of the retailer, which is controlled by the family, tumbled nearly 8% in New York trading. Walmart Inc said adjusted earnings per share will decline as much as 13% this year. Source: Inshorts Jul 27, 2022: Walton family loses $11.4 bn after Walmart slashes earnings outlook 27, 2022 10:57 IST The Walton family fortune fell $11.4 billion on Tuesday after Walmart Inc. slashed its earnings outlook for the second time this year. Shares of the Bentonville, Arkansas-based retailer, which is controlled by the family, tumbled 7.6 per cent in New York trading after it said adjusted earnings per share will decline as much as 13 per cent this year with US shoppers reining in spending on big-ticket items amid soaring consumer prices. Two months ago, the company said earnings per share would only dip about 1 per cent, while in February, it had predicted a modest increase. The family's late patriarch, Sam Walton, built the business around a discount culture that has in the past helped buoy its stock during recessionary times. In revising its outlook, Walmart cited the cost of reducing merchandise stockpiles that customers were increasingly reluctant to buy as inflation hits a four-decade high. Walton's three surviving children, Alice, Jim and Rob, daughter-in-law Christy and Christy's son, Lukas, own just under half of the retailer. That gives them a combined net worth of about $199.3 billion, according to the Bloomberg Billionaires Index, down almost 11 per cent since the first of the year. Walmart wasn't the only retailer to see its shares tumble. Canadian e-commerce firm Shopify Inc. fell 14 per cent Tuesday after Chief Executive Officer Tobi Lutke acknowledged the company's decision to expand rapidly coming out of the Covid-19 pandemic didn't pay off. As a result, the firm said it planned to cut about 10 per cent of its workforce. Tuesday's decline shaved $383 million from Lutke's net worth, dropping the 41-year-old co-founder's fortune to about $3.1 billion, according to the Bloomberg index. Ottawa-based Shopify's shares have plunged 77 per cent this year. The Walton family, which owns its Walmart stake through various trusts, has stepped up its stock sales in recent years. They unloaded $6.2 billion in shares last year, which the company has said is part of a strategy to keep the family's stake under 50 per cent amid buybacks. Those sales, along with outside investments in US stocks and low-cost exchange-traded funds, has armed them with ample funds for acquisitions. A group led by Rob Walton agreed to buy the NFL's Denver Broncos for a record $4.65 billion. The deal, announced in June, still needs approval from the National Football League's finance committee and league ownership. Source: Business Standard Jul 27, 2022: Target, Walmart, Amazon Get Good News (Despite Inflation) Inflation is higher than it's been in 40 years. According to the Bureau of Labor and Statistics, consumer prices were up 9.1% in June. That increase was the largest 12-month increase since November 1981. Retail sales have fallen 0.3% from April. However, in June, retail sales showed a 8.4% increase from June 2021 which shows that consumers are still spending money, but spending more of it on essentials like grocery store shopping. According to a mid-June survey from JLL (JLL) - Get Jones Lang LaSalle Incorporated Report, back-to-school spending on average rose 5.4%. This is likely because parents still plan on buying their children the things they need for when they begin school despite rising inflation across the country. However, retail stores should be expecting customers to be pickier about choosing the cheapest stores with the most affordable options. The survey also showed that parents spent an average of $322 per child on back-to-school shopping. This year, that number was $339. 65.1% of responders said they planned on spending less on supplies this year. Challenges and Opportunities: Schools are all back to in-person classes this year after covid shut schools down for the majority of 2020. Because schools are back in-person, parents need to buy their kids' school supplies, which typically means a good season for retailers are happy about that. On the other hand, inflation is impacting how much customers' buy. Walmart (WMT) - Get Walmart Inc. Report and Target (TGT) - Get Target Corporation Report are usually the most visited stores when it's back-to-school shopping season. Despite inflation, they are still coming out on top as the picks for school supplies. According to placer.ai, Dollar General (DG) - Get Dollar General Corporation Report, Family Dollar, Dollar Tree, (DLTR) - Get Dollar Tree Inc. Report and Five Below (FIVE) - Get Five Below Inc. Report will also do well because these stores are already positioned to be cheaper. Source: TheStreet Jul 26, 2022: Midday Movers: Walmart, Shopify, General Motors and More 2022-07-26 17:33 Investing.com -- U.S. stocks fell on Tuesday after Walmart's profit warning sent shockwaves through the retail sector. Here are the midday movers for July 26: Walmart Inc (NYSE:WMT) shares fell 7% after the biggest U.S. retailer said its profit would be lower than expected because higher food prices are forcing customers to make tradeoffs on purchases, buying necessities but holding back on buying other items such as clothing. Other retail stocks reacted negatively as well, including Target Corporation (NYSE:TGT), down 4%. Shopify Inc (NYSE:SHOP) shares tumbled nearly 15% after the company, which helps retailers set up their online presence, said it would layoff 10% of its workers amid a slowdown in e-commerce activity. General Motors Company (NYSE:GM) shares fell 2.7% after the automaker said it had parts shortages that prevented it from delivering vehicles in the quarter. It said it would slow spending and hiring to plan for the possibility of an economic downturn. Logitech International SA (NASDAQ:LOGI) shares rose 2% even after posting weaker than expected results amid a slowdown in consumer demand for electronics after a pandemic boom. 3M Company (NYSE:MMM) shares rose 6% after the company said it would spin off its healthcare business after second quarter results beat expectations. The company plans to keep a 20% stake in the healthcare operation. Source: Investing.com Jul 26, 2022: After-Hours Movers: Walmart Sinks on Warning, Sending Other Retail Stocks Lower As Well Jul 25, 2022 17:58 After-Hours Stock Movers: Aaron's (NYSE:AAN) 25% LOWER; reported Q2 EPS of $0.79, $0.15 better than the analyst estimate of $0.64. Revenue for the quarter came in at $610.4 million versus the consensus estimate of $607.87 million. Aaron's sees FY2022 EPS of $1.75-$2.15, versus the consensus of $2.68. Aaron's sees FY2022 revenue of $2.19-2.27 billion, versus the consensus of $2.34 billion. Walmart Inc. (NYSE:WMT) 10% LOWER; cut its Q2 and full 2023-year guidance primarily due to pricing actions aimed to improve inventory levels at Walmart and Sam's Club in the U.S. and mix of sales. Shell Midstream Partners, L.P. (NYSE:SHLX) 10% HIGHER; Shell (LON:RDSa) USA, Inc. and Shell Midstream Partners, L.P. (SHLX) today announced they have executed a definitive agreement and plan of merger (the "Merger Agreement," and the transactions contemplated thereby, collectively, the "Transaction") pursuant to which Shell USA will acquire all of the common units representing limited partner interests in SHLX held by the public (the "Public Common Units") at $15.85 per Public Common Unit in cash for a total value of approximately $1.96 billion. A subsidiary of Shell USA currently owns 269,457,304 SHLX common units, or approximately 68.5% of SHLX common units. F5 Networks (NASDAQ:FFIV) 6% HIGHER; reported Q3 EPS of $2.57, $0.33 better than the analyst estimate of $2.24. Revenue for the quarter came in at $674 million versus the consensus estimate of $668.36 million. F5 Networks sees Q4 2022 EPS of $2.45-$2.57, versus the consensus of $2.28. F5 Networks sees Q4 2022 revenue of $680-700 million, versus the consensus of $689.4 million. Target Corporation (NYSE:TGT) 5% LOWER; falls after Walmart's warning. Macy's, Inc. (NYSE:M) 4% LOWER; falls after Walmart's warning. Amazon.com, Inc. (NASDAQ:AMZN) 4% LOWER; falls after Walmart's warning. Dollar Tree, Inc. (NASDAQ:DLTR) 4% LOWER; falls after Walmart's warning. Five Below, Inc. (NASDAQ:FIVE) 4% LOWER; falls after Walmart's warning. Cadence Design Systems (NASDAQ:CDNS) 3% HIGHER; reported Q2 EPS of $1.08, $0.12 better than the analyst estimate of $0.96. Revenue for the quarter came in at $858 million versus the consensus estimate of $834.51 million. Cadence Design Systems sees Q3 2022 EPS of $0.94-$0.98, versus the consensus of $0.93. Cadence Design Systems sees Q3 2022 revenue of $860-880 million, versus the consensus of $847.8 million. Cadence Design Systems sees FY2022 EPS of $4.06-$4.12, versus the consensus of $3.93. Cadence Design Systems sees FY2022 revenue of $3.47-3.51 million, versus the consensus of $3.41 million. Dollar General (NYSE:DG) 3% LOWER; falls after Walmart's warning. Costco Wholesale (NASDAQ:COST) 3% LOWER; falls after Walmart's warning. Ross Stores, Inc. (NASDAQ:ROST) 3% LOWER; falls after Walmart's warning. Kohl's Corporation (NYSE:KSS) 3% LOWER; falls after Walmart's warning. Lowe's Companies, Inc. (NYSE:LOW) 2% LOWER; falls after Walmart's warning. The Home Depot, Inc. (NYSE:HD) 2% LOWER; falls after Walmart's warning. Whirlpool (NYSE:WHR) 2% HIGHER; reported Q2 EPS of $5.97, $0.70 better than the analyst estimate of $5.27. Revenue for the quarter came in at $5.1 billion versus the consensus estimate of $5.23 billion. Whirlpool sees FY2022 EPS of $22.00-$24.00, versus the consensus of $23.91. Whirlpool sees FY2022 revenue of $20.7 billion, versus the consensus of $21.84 billion. Source: Investing.com Jul 26, 2022: Walmart lowers profit outlook Walmart Inc.'s release late Monday of a lower profit outlook for the current quarter and fiscal year sent not only its own stock but that of other retailers sliding in after-hours trading. Because of inflation and markdowns on excess inventory at Walmart and Sam's Club stores, the Bentonville-based retailer said it now expects earnings per share to fall 8% to 9% in the second quarter rather than staying flat or rising slightly, as it originally reported. For the fiscal year, the company had expected earnings per share to slip about 1%. On Monday, Walmart lowered that estimate to a plunge of 11% to 13%. The revised guidance was released shortly after the 3 p.m. stock market close. By 5:30 p.m., Walmart shares had dropped 10%. Shares of other retailers, including Target, Amazon.com, Kohl's and Macy's, also tumbled in after-hours trading after Walmart's announcement. Walmart shares closed Tuesday at $121.98, down $10.04, or 7.60%, on the New York Stock Exchange. The company's shares have traded between $117.27 and $160.77 in the past year. Walmart founder Sam Walton's three surviving children, a daughter-in-law and a grandson lost a collective $12.3 billion on Tuesday, according to Fortune's Real-Time Billionaire's list. Other retailers have revised their profit guidance downward in the last few weeks, with Target among the first to do so. Brian Yarbrough, a retail analyst with financial services firm Edward Jones, said Walmart's move Monday wasn't a total surprise. The retailer started the quarter with millions of dollars' worth of excess inventory, especially in apparel and general merchandise, Walmart Chief Executive Doug McMillon said in May. "I think that lower-income customer is being squeezed a lot more than the middle- to higher-income customers are from inflation," Yarbrough said. And shoppers with fewer discretionary dollars are spending their money on necessities such as food and gas instead of higher-margin goods such as apparel, electronics and furniture. At the same time, the middle- to higher-income consumers who shifted their spending during the pandemic away from travel, leisure and entertainment and toward goods are now reversing that trend at the expense of goods, Yarbrough said. Analysts expected that slowdown in spending on goods, he said, but with the double whammy of excess inventory and the cash-strapped consumer, "Walmart was in a tough spot." Yarbrough said Walmart probably made a mistake by deciding to clear out inventory over several quarters instead of emulating Target, which said it wanted all its excess product out by the end of the second quarter. Target got very aggressive in its efforts to meet its goal, Yarbrough said, and now Walmart will likely have to get aggressive too. But inflation remains the unknown factor in the equation. Consumer prices were up 9.1% in June compared to the previous year, the Bureau of Labor Statistics reported earlier this month. "If inflation is still running at 7% to 8% by year-end, then I think people are going to have burned through a lot of the savings from the stimulus and all that and you'll probably see a bigger slowdown" in spending, Yarbrough said. "But if inflation starts to slow and you get that under control, I think the consumer will continue to spend well into next year," he said. Sales on Walmart's top line remain very good, Yarbrough said, and the revised outlook still shows them up 6%. "It's just the profit side of things" that's the problem, he said, "and that's very company-specific for them right now. They were over-inventoried." Walmart is scheduled to report its second-quarter results on Aug. 16. Source: The Arkansas Democrat-Gazette Jul 26, 2022: Wall Street falls as Walmart warning rattles retail stocks U.S. stock indexes fell on Tuesday after Walmart's profit warning heightened fears in the retail sector that consumers were cutting back on discretionary spending in the face of decades-high inflation. Walmart Inc's shares slumped 8.7%, while Target and Amazon.com fell about 3.0% each, with the online retail giant weighing the most on the Nasdaq index. "This is what normally happens when inflation is so high or when consumers are having trouble paying their bills," said Eugenio J. Aleman, chief economist at Raymond James. "People start to become very discriminating in consumption, so basically they reduce the purchases of discretionary items in favor of necessities." In a sign of rising pressure to shore up profit amid higher costs, Amazon said in the run-up to its quarterly financial results that it would raise fees for delivery and streaming service Prime in Europe by up to 43% a year. The S&P 500 consumer discretionary index slid 1.9%, leading sectoral declines. The S&P 500 retailing index dropped 2.7%. Along with high inflation, a stronger dollar is also expected to weigh on profits of companies with sprawling global operations. Wall Street's main indexes have rallied off mid-June lows as softening commodity prices and downbeat economic data prompt investors to scale back expectations of aggressive rate hikes by the Federal Reserve, but fears of a recession have sapped momentum recently. The Fed is widely expected to deliver a 75 basis-point interest-rate hike at the end of its two-day policy meeting on Wednesday, which would be followed by comments from Chairman Jerome Powell. U.S. consumer confidence fell for a third straight month in July amid persistent worries about higher inflation and rising interest rates, data showed, pointing to slower economic growth at the start of the third quarter. Advance second-quarter GDP data on Thursday is likely to be negative after the U.S. economy contracted in the first three months of the year. The International Monetary Fund, meanwhile, cut global growth forecasts again, warning of risks from high inflation and the Ukraine war. At 10:11 a.m. ET, the Dow Jones Industrial Average was down 69.70 points, or 0.22%, at 31,920.34, the S&P 500 was down 21.35 points, or 0.54%, at 3,945.49 and the Nasdaq Composite was down 117.20 points, or 0.99%, at 11,665.47. Among the Dow components, Coca-Cola Co gained 2.2% after the company raised its full-year revenue forecast, while McDonald's Corp rose 1.8% after beating quarterly comparable sales and profit expectations. 3M Co rose 5.2% after the industrial giant said it plans to spin off its healthcare business. General Electric Co gained 6.3% after the U.S. industrial conglomerate beat revenue and profit estimates, led by strong growth in its aviation business. General Motors Co fell 3.3% after reporting a 40% drop in quarterly net income and saying it was curbing spending and hiring ahead of a potential economic slowdown. High-growth companies, such as Apple Inc, Netflix Inc, Tesla Inc, fell between 0.2% and 1%, while Alphabet Inc and Microsoft Corp dropped more than 1% each ahead of their quarterly reports after market close. Earnings from S&P 500 companies are expected to have risen 6.2% for the second quarter from the year-ago period, according to Refinitiv data. Declining issues outnumbered advancers for a 1.47-to-1 ratio on the NYSE and 2.01-to-1 ratio on the Nasdaq. The S&P index recorded one new 52-week high and 30 new lows, while the Nasdaq recorded 21 new highs and 65 new lows. Source: Mint Jul 26, 2022: Walmart Rings More Alarm Bells for the US Economy It wasn't supposed to be like this. Walmart Inc. is the world's biggest retailer, with stores that are a beacon of low prices and a corporate culture that is famously penny-pinching. If anyone was to thrive in the current economic environment, it should have been the big-box retailer. And yet, on Monday it warned on profit for a second time in just over two months. That is an ominous sign for the whole consumer sector and the broader US economy. Walmart isn't losing customers. In fact, its low-price mantra is attracting them. The company said earlier this year that during periods of inflation all customers - low-, middle- and higher-income families - become more price-conscious. That is encouraging them to shop at Walmart. It now expects second-quarter US same-store sales, excluding fuel, to increase by about 6%, slightly ahead of its previous guidance of a 4%-5% expansion. The trouble is, as consumers are becoming more thrifty, they are changing their shopping habits in ways that are far less helpful for the retailer. With US inflation at a 40-year high, and food-price inflation running at a double-digit percentage, Americans are spending more on the things they need, such as food and consumer goods, rather than on things they simply want, such as clothing and home furnishings. This is weighing on earnings, because general merchandise is more profitable than food, whose margin is as slim as a slice of wafer-thin ham. Meanwhile, more markdowns are needed to shift the pile-up of products that cash-strapped shoppers aren't buying. The situation hasn't been helped by the fact that Walmart built up stocks amid the supply-chain snarl-ups of late last year. Like rival Target Corp., Walmart is discounting its glut of inventory. While Walmart is making progress in clearing items such as home furnishings and electronics, more special offers are needed to entice shoppers to spend on clothing. Rather than the difficulties working themselves out relatively quickly - which Walmart predicted in May - the retailer is now expecting more pressure on its non-food business in the second half of the year. In one bright spot, however, the start of the back-to school spending season has been encouraging. Nevertheless, all this is set to take its toll on second-quarter and full-year profit, with Walmart forecasting that adjusted earnings per share will fall as much as 13% in the current fiscal year. The shares fell as much as 10% in after-market trading. The new wave of discounts could help counteract the effects of inflation. But any benefit to American consumers may have come too late. Amid higher prices for food and fuel, they are also missing those stimulus payments of 2021 and grappling with higher borrowing costs and the first signs that the jobs market is cooling. If Walmart, with its low-price prowess and cost-cutting expertise, is suffering, the damage from more skittish shoppers will be even worse elsewhere. We've already seen Bath & Body Works Inc. cut forecasts. It is unlikely to be the last of Walmart's less muscular rivals to do so this earnings season. Walmart said in February that its customer base looked a lot like the US population. If that is the case, then its profit warning is a red flag not only for retail and hospitality companies, but for the engine of the US economy. Source: Advisor Perspectives Jul 26, 2022: Walmart 'train wreck' profit warning sends shares down 10% Jul 26, 2022, 07:56 AM IST Top U.S. retailer Walmart Inc on Monday slashed its profit forecast as surging prices for food and fuel prompted customers to cut back on discretionary purchases, and its shares slid 10% in trading after the bell. Shares of rivals including Target and Amazon.com also tanked after Walmart's warning, which signaled a "proverbial train wreck" for retailers, Burt Flickinger, managing director at Strategic Resource Group, said. Walmart, a bellwether for the retail sector that caters to cost-conscious shoppers, said its full-year profit would decline 11% to 13%, compared to the 1% fall it previously forecast. It pledged to cut prices of clothing and general merchandise more aggressively than it did in May to reduce a spring backlog. Excluding divestitures, full-year earnings per share are expected to drop 10% to 12%, the company said. Neil Saunders, managing director of retail at GlobalData, called the warning a "cause for concern" for Walmart that highlighted the pressure on all retailers. With prices for gasoline and food spiking, consumers are no longer clamoring for apparel, home goods, appliances and kitchenware, saddling retailers with mountains of inventory. Inventories at general merchandise stores at the end of April were the highest since at least 2000, U.S. Census Bureau data showed. Supply-chain snafus and miscalculations around demand have added to problems. In May, Walmart said it was sitting on over $60 billion of inventory at the end of the first quarter and promised "aggressive" price cuts on items such as apparel. On Monday, the company said it needed more price cuts to par. Source: The Economic Times Jul 26, 2022: Asian stocks wobble on Walmart warning, looming US Fed rate hike uly 26, 2022 09:28 IST MSCI's broadest gauge of Asia stocks outside Japan meandered just above flat. Japan's Nikkei fell 0.2% and S&P 500 futures were down 0.4% Asian shares wobbled on Tuesday and bonds were firm as a profit warning from Walmart put consumption and company earnings under a cloud ahead of what is likely to be another sharp U.S. interest rate hike. MSCI's broadest gauge of Asia stocks outside Japan meandered just above flat. Japan's Nikkei fell 0.2% and S&P 500 futures were down 0.4%. U.S. retailer Walmart Inc cut its profit forecast on Monday and said customers were paring back discretionary purchases as inflation bites household budgets. Shares fell 10% after hours and rivals Target and Amazon also slid. Investors are also awaiting a likely 75 basis point Federal Reserve interest rate increase later this week - with markets pricing about a 10% risk of a larger hike, as well as waiting to see whether economic warning signs prompt a shift in rhetoric. "We are leaning to the view that 75 bps is most likely but won't be the end unless they see some demand destruction and some tempering of inflation," said John Milroy, an investment adviser at Ord Minnett. "We are fearful they have to materially slow the U.S. economy further." Big technology companies such as Apple, Microsoft and Amazon.com are due to report earnings this week. "The market has stabilized (from rate hike expectations)," said Redmond Wong, Greater China market strategist at Saxo Markets in Hong Kong. "The focus is now on earnings." Chinese stocks managed small gains, with Hong Kong's Hang Seng Index up 0.4% and China's benchmark CSI300 Index up 0.3% in early trade. In currencies, the dollar was marginally softer but not drifting too far below recent milestone highs as uncertainty continues to swirl around the rates and economic outlook. The euro bought $1.0237 and the yen steadied at 136.34 per dollar. The U.S. dollar index, which touched a 20-year high this month, was down slightly to 106.300. Oil prices rose on expectations Russia's reduction in natural gas supply to Europe could encourage a switch to crude, with Brent futures last up 1% at $106.17 a barrel and U.S. crude up 0.7% to $97.37 a barrel. Benchmark 10-year Treasury yields fell 3.5 bps to 3.7850% as growth worries gave support to bonds. Gold hovered at $1,725 an ounce and bitcoin nursed overnight losses at $21,100. Source: Business Standard Jul 26, 2022: Walmart Partners With WALDO To Offer Affordable Contact Lens July 26, 2022 BENTONVILLE, Ark., July 26, 2022 - Walmart and WALDO are partnering to make eyecare more accessible and affordable. Walmart is the first exclusive retailer to offer WALDO, an innovative and accessible eyecare brand that believes in the power of positive vision. These first-of-their-kind lenses are enriched with essential vitamins, including B12, to help refresh and rejuvenate eyes. At $23.86 for a 30-pack of the Hydra Boost Daily Lenses, customers can save 13%-84% off the cash price of comparable branded daily disposable contact lenses at Walmart, which translates into a savings of up to $552 a year at Walmart.1 "We are thrilled to partner with Walmart to expand access to affordable eyecare options across the country," says Ashleigh Hinde, Founder and CEO at WALDO. "Partnering with Walmart allows us to grow our community and help foster much larger conversation around the importance of eye health and the need for accessible options for eyecare." WALDO is committed to making eye care an essential part of everyday life through accessible, high-quality products, trustworthy expert service and a platform to elevate the vision of their customers. "Walmart is continuously looking for ways to bring our customers brands they already use and love to our stores, making it even more convenient to prioritize their health during their weekly shopping trips," says Tabitha Watkins, Divisional Merchandising Manager - Specialty Healthcare at Walmart. "We are so pleased to be the first retailer to carry WALDO, a brand that is delivering innovative eyecare products at a great value for our customers." Routine eye exams are an important part of taking care of your whole health. Walmart operates more than 3,000 vision centers nationwide, allowing customers to easily fill prescriptions for prescription eyewear, sunglasses, reading glasses and contact lenses2. Walmart Vision Centers across the country are being transformed into state-of-the-art facilities with an all-new customer experience that features family tables and full-length mirrors for a functional try-on atmosphere. The remodeled centers will have newly designed and interactive shelving, semi-private spaces for associate consultations and more. Source: Walmart Inc. Jul 26, 2022: World's richest family loses $13 billion in Walmart rout 26 Jul 2022, 10:36 PM IST The Walton family fortune fell $12.9 billion on Tuesday after Walmart Inc. slashed its earnings outlook for the second time this year. The Walton family fortune fell $12.9 billion on Tuesday after Walmart Inc. slashed its earnings outlook for the second time this year. Shares of the Bentonville, Arkansas-based retailer, which is controlled by the family, tumbled as much as 9.1% in New York trading after it said adjusted earnings per share will decline as much as 13% this year with US shoppers reining in spending on big-ticket items amid soaring consumer prices. Two months ago, the company said earnings per share would only dip about 1%, while in February, it had predicted a modest increase. The family's late patriarch, Sam Walton, built the business around a discount culture that has in the past helped buoy its stock during recessionary times. In revising its outlook, Walmart cited the cost of reducing merchandise stockpiles that customers were increasingly reluctant to buy as inflation hits a four-decade high. Walton's three surviving children, Alice, Jim and Rob, daughter-in-law Christy and Christy's son, Lukas, own just under half of the retailer. That gives them a combined net worth of about $198 billion, according to the Bloomberg Billionaires Index, down 11% since the first of the year. Walmart wasn't the only retailer to see its shares tumble. Canadian e-commerce firm Shopify Inc. fell as much as 17% Tuesday after Chief Executive Officer Tobi Lutke acknowledged the company's decision to expand rapidly coming out of the Covid-19 pandemic didn't pay off. As a result, the firm said it planned to cut about 10% of its workforce. Tuesday's decline shaved $410 million from Lutke's net worth, dropping the 41-year-old co-founder's fortune to about $3 billion, according to the Bloomberg index. Ottawa-based Shopify's shares have plunged 77% this year. The Walton family, which owns its Walmart stake through various trusts, has stepped up its stock sales in recent years. They unloaded $6.2 billion in shares last year, which the company has said is part of a strategy to keep the family's stake under 50% amid buybacks. Those sales, along with outside investments in US stocks and low-cost exchange-traded funds, has armed them with ample funds for acquisitions. A group led by Rob Walton agreed to buy the NFL's Denver Broncos for a record $4.65 billion. The deal, announced in June, still needs approval from the National Football League's finance committee and league ownership. Source: Mint Jul 26, 2022: Walmart's slashed profit outlook sends warning about state of the American consumer JUL 26 20228:14 PM Shares of retailers including Macy's, American Eagle and Amazon fell Tuesday, a day after Walmart slashed its profit forecast and warned that surging prices for food and gas are squeezing consumers. The big-box retailer, which is the country's largest grocer, said everyday necessities are eating up more of household budgets and leaving shoppers less money to spend on items they want, such as new clothing. Walmart said it will have to offer deep discounts to get rid of general merchandise, hurting its profit margins. For Wall Street, the announcement served as another warning. It heightened concerns about shifting consumer behavior and whether inflation has brought pandemic-fueled shopping sprees to an end. Major retailers including Walmart and Macy's are scheduled to report earnings in mid-August. "This is a sneak peek inside the challenges and the decision making that's happening inside of the household," said Steph Wissink, a retail analyst for Jefferies. Even though economists have not declared a recession, Wissink said "we appear to be firmly in a 'discretionary goods recession.'" Walmart's updated outlook comes as investors sift through months of conflicting data points. The labor market has remained strong, but consumer sentiment has weakened. Inflation has grown at the fastest pace in decades, yet airports are bustling with summer travelers. Thousands of Netflix customers have canceled subscriptions, but McDonald's and Coca-Cola say people have been willing to pay more for burgers and sodas so far. Other factors have complicated the picture, too. Retailers are lapping a period when shoppers had extra money from stimulus checks and savings from what they typically spent on services like gym memberships, hotels and dining out. Pandemic-related purchases surged as people sprang for new kitchen gadgets, workout equipment and leisurewear - categories that have now largely fallen from favor. Craig Johnson, founder of retail consultancy Customer Growth Partners, said the slump in discretionary spending is due to lower-income households spending more on essentials because of inflation. In addition, he said higher earners are spending more on services such as travel and entertainment instead of products coming out of the pandemic. "Walmart's pre-announcement was hardly a surprise, and will be the first of several similar pre-announcements," he said. Target was one of the first companies to signal choppy waters ahead. It cut its forecast for profit margins twice, saying it would have to cancel orders and increase markdowns to get rid of unwanted merchandise. It chalked up the problem to having the wrong inventory, such as TVs, bikes and household appliances that were popular during the pandemic, and said it wanted to clear space for back-to-school goods and holiday shopping. Kohl's, Gap, Bath & Body Works and Bed Bath & Beyond issued profit warnings in the past few weeks. And several companies, including online styling service Stitch Fix, video game retailer GameStop and e-commerce company Shopify have announced layoffs. Mall-based retailers - which sell a lot of discretionary merchandise like apparel and home goods - are expected to get caught in the crosshairs. Analysts at Deutsche Bank said they expect full-year guidance reductions from all of the apparel retailers the bank covers, as many had been forecasting an acceleration in sales and margins in the back half of the year. Credit card data from Bank of America shows sales of clothing in the U.S. have been declining since the week ended March 12, and were down 15.6% from year-earlier levels during the week ended July 2. Lorraine Hutchinson, an analyst for Bank of America Securities, said in a note to clients on Tuesday that her firm is cutting its earnings estimates across the apparel industry as inventories pile up and discounts are becoming rampant. Hutchinson said niche retailers that cater to higher income shoppers, such as Lululemon, could still perform well. LVMH, which owns high-end brands like Dom Perignon and Louis Vuitton, also signaled Tuesday that higher income shoppers might still be willing to splurge. The company said its sales climbed 19% in the second quarter year over year when stripping out currency changes, led by growth in its fashion and leather goods segment. For discounters, an upside of surging inflation is that price-sensitive customers may visit their stores more often in search of cheaper household staples. Walmart's share of U.S. grocery dollars, for example, was 21% as of the end of June, up from 18% six months earlier, according to research firm Numerator. But groceries have lower profit margins than discretionary items, such as electronics and apparel. That's the reason why Walmart slashed its profit forecast, even while raising its forecast for same-store sales. Source: CNBC Jul 26, 2022: Dow Futures Dip, Walmart Tanks After Earnings 2022-07-25 22:43 Investing.com - U.S. stock futures were trading lower during Monday's evening deals, following a mixed session among major benchmark averages as investors focus on a slew of corporate earnings reports. By 6:45pm ET (10:45pm GMT) Dow Jones Futures and Nasdaq 100 Futures were down 0.4% apiece, while S&P 500 Futures fell 0.3%. In extended deals, retail stocks were sent tumbling as Walmart Inc (NYSE:WMT) tanked 9.6% after cutting its Q2 and full 2023-year guidance, due to pricing actions aimed to improve inventory levels. Target Corporation (NYSE:TGT) fell 4.9%, Macy's Inc (NYSE:M) lost 3.9%, Home Depot Inc (NYSE:HD) shed 2%, Dollar Tree Inc (NASDAQ:DLTR) fell 4.3%, Five Below Inc (NASDAQ:FIVE) declined 2.7%, and Costco Wholesale Corp (NASDAQ:COST) shed 3.2%. Aaron's Inc (NYSE:AAN) plummeted 25.8% after reporting Q2 EPS of $0.79, beating estimates of $0.64, while revenue came in at $610.38 million versus $607.87 million expected. F5 Networks Inc (NASDAQ:FFIV) added 5.6% after reporting Q3 EPS of $2.57 versus $2.24 expected on revenue of $674.45 million versus $668.36 million expected. Cadence Design Systems Inc (NASDAQ:CDNS) gained 3.9% after the company reported Q2 EPS of $1.08, above estimates of $0.96 while revenue was reported at $857.5 million versus $834.51 million. Whirlpool Corporation (NYSE:WHR) added 1.4% after reporting Q2 EPS of $5.97, above expectations of $5.27. Revenue came in at $5.1 billion versus $5.23 billion. Ahead in the session, the Federal Reserve is set to commence its two-day policy meeting, with market participants widely expecting a 75 basis point hike. Earnings results will also be closely monitored with Coca-Cola Co (NYSE:KO),McDonald's Corporation (NYSE:MCD), and General Motors Company (NYSE:GM) set to report on Tuesday before the bell while Alphabet Inc (NASDAQ:GOOGL), Microsoft Corporation (NASDAQ:MSFT), Chipotle Mexican Grill Inc (NYSE:CMG), United Parcel Service Inc (NYSE:UPS), and Enphase Energy Inc (NASDAQ:ENPH) are slated to report after the bell. On the data front, traders are looking ahead to the Case-Shiller Home Price Index, CB consumer confidence and new home sales data set to be released later in the session. During Monday's trade, the Dow Jones Industrial Average climbed 90.75 points, or 0.3%, the S&P 500 added 0.1% while the NASDAQ Composite lost 0.4%. On the bond markets, United States 10-Year rates were at 2.807%. Source: Investing.com Jul 25, 2022: Walmart Cuts Profit Outlook as It Lowers Prices to Move Goods July 25, 2022 6:07 pm ET Walmart Inc. WMT -0.14%▼ warned that higher prices for food and fuel were causing consumers to pull back, an ominous sign for the U.S. economy that has relied on resilient household spending power through rising inflation. The country's largest retailer, which warned in May that it was stuck with too much unsold goods, said on Monday that it was having to cut prices to reduce merchandise levels at its flagship chain and Sam's Club warehouse chain. The markdowns will cause the company's profits to fall in the second quarter and fiscal year. The announcement sent Walmart's shares down nearly 10% in after-hours trading Monday, and pressured other stocks, with Amazon.com Inc. AMZN -1.05%▼ falling about 4%. Walmart's e-commerce rival is slated to report its latest results on Thursday. The warning casts a cloud over a week when a raft of global brands and multinational companies, from McDonald's Corp. and Procter & Gamble Co. to Visa Inc. and General Motors Co., are slated to update investors on their latest quarterly results and the outlook for the rest of the year. NEWSLETTER SIGN-UP The 10-Point. A personal, guided tour to the best scoops and stories every day in The Wall Street Journal. PREVIEW SUBSCRIBE Inflation has been running near the highest levels in decades, and the Federal Reserve is expected to raise interest rates this week as it seeks to fight higher prices. Several high-tech companies have warned in recent days of slowing growth, and leaders of some of the biggest banking companies have cautioned they see a high risk of recession. Walmart said higher prices for food and fuel have hurt sales of general merchandise, especially apparel, which generate higher profit margins for the company. Overall, the company expects comparable-store sales, excluding fuel, for its Walmart U.S. division to rise 6% in the second quarter from a year ago, but the growth is coming from less profitable items. The company is slated to give its full second-quarter report Aug. 16. While U.S. unemployment remains near its lowest levels in decades, consumer sentiment fell in June to its lowest point on record, a sign of concern because household spending accounts for about 70% of U.S. economic output. Some shoppers, especially from lower-income households, are trading down to economy beer and discount cigarettes as they feel more pressure on their pocketbooks. "Most retailers are not struggling to grow their top lines, but they are struggling to maintain the high levels of profitability that were commonplace over the past few years," said Neil Saunders, managing director at GlobalData. Target Corp. issued a profit warning in June three weeks after it reported quarterly results, which like Walmart, showed a surge in inventory levels. The big-box retailers were caught off guard this spring as shoppers shifted their spending away from items that have been in high demand during the pandemic. The abrupt shift left many retailers with a glut of peak pandemic favorites such as casual clothes and home products that needed to be marked down. Chains such as Bed Bath & Beyond and Gap Inc. recently issued profit warnings and replaced their leaders. Walmart in May reported that inventories rose about 33% in the first quarter, in part because it misjudged shifts in consumer spending. Executives said the higher cost of goods because of inflation, as well as an easing of the supply-chain snarls that limited supplies earlier in the pandemic, also contributed to the excess inventory. Now Walmart and other retailers are trying to unload those items at a time when rising prices for gas and groceries have made some people rethink their spending. "The increasing levels of food and fuel inflation are affecting how customers spend," Walmart Chief Executive Doug McMillon said in a statement, "and while we've made good progress clearing hardline categories, apparel in Walmart U.S. is requiring more markdown dollars." Mr. McMillon said the company expects additional pressure on general merchandise in the rest of the year, including the holiday shopping season, but said school supplies were selling well as families prepare for a new academic year. Walmart now expects its operating income, excluding units it has divested, to decline between 10% and 12% for the fiscal year ending in January. In May the company said it expected operating income for the year to decrease about 1%, excluding currency fluctuations, down from a previous estimate of an around 3% increase. Source: Wall Street Journal Jul 25, 2022: Walmart Inc. Provides Update for Second Quarter and Fiscal Year 2023 July 25, 2022 BENTONVILLE, Ark. July 25, 2022 - Walmart Inc. (NYSE: WMT) provided a business update today and revised its outlook for profit for the second-quarter and full-year, primarily due to pricing actions aimed to improve inventory levels at Walmart and Sam's Club in the U.S. and mix of sales. Comp sales for Walmart U.S., excluding fuel, are expected to be about 6% for the second quarter. This is higher than previously expected with a heavier mix of food and consumables, which is negatively affecting gross margin rate. Food inflation is double digits and higher than at the end of Q1. This is affecting customers' ability to spend on general merchandise categories and requiring more markdowns to move through the inventory, particularly apparel. During the quarter, the company made progress reducing inventory, managing prices to reflect certain supply chain costs and inflation, and reducing storage costs associated with a backlog of shipping containers. Customers are choosing Walmart to save money during this inflationary period, and this is reflected in the company's continued market share gains in grocery. "The increasing levels of food and fuel inflation are affecting how customers spend, and while we've made good progress clearing hardline categories, apparel in Walmart U.S. is requiring more markdown dollars. We're now anticipating more pressure on general merchandise in the back half; however, we're encouraged by the start we're seeing on school supplies in Walmart U.S." said Doug McMillon, Walmart Inc. president and chief executive officer. Guidance Updates Based on the current environment and the company's outlook for the remainder of the year, it is providing the following updates to its guidance. Consolidated net sales growth for the second quarter and full year is expected to be about 7.5% and 4.5%, respectively. Excluding divestitures1, consolidated net sales growth for the full year is expected to be about 5.5%. Net sales include a headwind from currency of about $1 billion in the second quarter. Based on current exchange rates, the company expects a $1.8 billion headwind in the second half of the year. The company maintains its expectations for Walmart U.S. comp sales growth, excluding fuel, of about 3% in the back half of the year. Operating income for the second-quarter and full-year2,3 is expected to decline 13 to 14% and 11 to 13%, respectively. Excluding divestitures1, operating income for the full year2 is expected to decline 10 to 12%. Adjusted earnings per share4 for the second quarter and full year is expected to decline around 8 to 9% and 11 to 13%, respectively. Excluding divestitures1, adjusted earnings per share4 for the full year is expected to decline 10 to 12%. The company's updated guidance includes the effects of the following discrete items in the second quarter: Proceeds from an insurance settlement for Walmart Chile, which positively affects operating income by $173 million and adjusted earnings per share by $0.05 Proceeds from a special dividend received by the company related to its equity investment in JD.com, which positively affects other gains and losses by $182 million and adjusted earnings per share by $0.05 The company will provide further details on business performance and its outlook for the year when it reports second-quarter results on Aug. 16, 2022. Source: Walmart Inc. Jul 24, 2022: SAVVY SHOPPER I'm a Walmart superfan - $12 dresses you can't find in-store, including PJ deals - you just need the app and a top tip 17:49 ET, Jul 24 2022 AS Americans are in the middle of the summer heat, stores are already moving out merchandise and preparing for the fall season. There are still sales but you have to look beyond the aisles to find a great selection, as a TikTok influencer shared. Influencer Breanna found several summer styles from Walmart, not in store but online. Breanna, who goes by breannaalexisb on TikTok, told her 235,000 followers that she shops a lot for Walmart clothing online because her Walmart store "lacks in the fashion department." She found a better selection online and they were also marked down just as much as the sales you would find in store. Breanna shared her recent shopping haul. Two-piece set Breanna found a shorts and a top to lounge at home or wear out. Both pieces were on clearance for $10 each. Jeans Breanna explained that "pretty much all of my jeans are from Walmart." She said her recent find of black jeans "did not disappoint." Source: The Sun Jul 24, 2022: Prediction: These Will Be the 3 Largest Stocks by 2040 JUL 24, 2022 6:30AM EDT The club of stocks with market caps above $1 trillion is highly exclusive. It can be tempting to think these enormous companies' best days are behind them. After all, they have generally been around for decades, delivering market-shattering returns. And it's much harder for a stock of this size to double or triple compared to their small-cap counterparts. But for some of them, the future still looks exceptionally bright. That's the case for Amazon (NASDAQ: AMZN), Microsoft (NASDAQ: MSFT), and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL). These three tech giants are already among the largest companies in the world, but here's why I expect them to rank as the three largest stocks by 2040. Second to none in their main industries Over the past few decades, Amazon, Microsoft, and Alphabet have produced impressive results by becoming leaders in their respective main businesses. Let's start with Amazon. From its modest inception as an online bookseller, the company became an e-commerce juggernaut, building a huge competitive edge. Amazon's e-commerce operations benefit from the network effect -- the value of its service increases as more people use it. The more merchants it has, the bigger the draw is for customers, and vice-versa. As of October 2021, it held a 41% share of the U.S. e-commerce industry -- with Walmart coming in second place at 6.6%. Microsoft is a top dog in the computer operating system with 76% of the market share as of June. Microsoft benefits from a strong moat bolstered by its services' high switching costs. Its productivity tool suite -- Word, Excel, Outlook, Teams, Powerpoint -- is entrenched in the day-to-day of businesses, students, families, and most people who regularly use computers. Changing providers of these digital services is difficult. It's hard to adjust to a new operating system and transferring essential data is costly and time-consuming. Now turning to Alphabet, the parent company of Google, the world's dominant search engine, evident by the fact that Google has become a verb. Alphabet's market share in the search engine space was 83% as of June. Google will continue to own the industry thanks to competitive advantages including its brand and the network effect. The more people who use the search engine, the more relevant data Alphabet collects to deliver better search results, leading to an improved user experience. And better search results keep consumers coming back. As leaders in these spaces with solid moats, Amazon, Alphabet, and Microsoft will keep capitalizing in order to generate outstanding long-term returns. All three are present in other markets as well. Alphabet owns YouTube, the top video hosting website. Microsoft has a huge footprint in gaming. And Amazon's Prime is one of the most popular streaming platforms and the company announced this week that it plans to buy healthcare company One Medical for $3.9 billion. And there's more. Seizing another lucrative market Amazon, Microsoft, and Alphabet boast exciting growth avenues beyond the industries they started in. They are the three most prominent players in the cloud computing industry. Various cloud computing solutions provide juicy benefits to businesses, including cost-efficiency, data management, and improved productivity. As of the fourth quarter of 2021, Amazon Web Services, Microsoft Azure, and Google Cloud were the top three (in that order) players in this area, with 33%, 21%, and 10% share of the market, respectively. According to projections, the cloud computing industry will expand at a compound annual growth rate of 17% through 2030. These companies generally generate plenty of cash, which will enable them to pour money back into cloud computing to benefit from this long-term tailwind. Although these tech giants are competing in cloud computing, the industry is projected to hit $1.6 trillion by 2030 -- that's more than enough space for all three players (and many others) to be highly successful. Size matters, but it isn't everything A handful of other companies could challenge Amazon, Alphabet, and Microsoft as the top dogs by 2040. But even if my prediction does not come to pass, it wouldn't matter all that much. The most important thing for investors to remember is that all three are solid businesses with excellent prospects and a proven ability to innovate, generate consistent profits, and beat the market. Whether they are the largest stocks by market cap when 2040 rolls around matters less than the stock performance they will deliver in the meantime. And the evidence strongly suggests that all three will continue to excel. That's why Amazon, Microsoft, and Alphabet are worth adding to your portfolio today, especially considering they are currently feeling the effects of the broader market sell-off and are trading at historically attractive prices. Find out why Amazon is one of the 10 best stocks to buy now Our award-winning analyst team has spent more than a decade beating the market. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed their ten top stock picks for investors to buy right now. Amazon is on the list -- but there are nine others you may be overlooking. Source: Nasdaq Jul 24, 2022: Black Hills Energy PSC rate case can include Microsoft, Walmart CHEYENNE - Some big companies doing business in the Capital City have received state regulatory permission to be part of a proceeding about the area's main electric utility proposing to raise its rates. In two brief Wyoming Public Service Commission orders released this past week, Microsoft Corp. and Walmart Inc. each had their requests to take part on the rate-related proceeding approved. Typically in major PSC proceedings, especially those involving power prices, companies seek to take part. In the case at hand involving Black Hills Energy, Microsoft and Walmart are "authorized to participate as a party for all purposes in the subject proceeding, pursuant to the approval of the Commission in Open Meeting on July 5" for the software and technology company and a week later for the retailer. This is according to the nearly identical orders that were dated July 14 and included in an email this past week from the state's utility regulatory agency, as well as to a commission staffer. Typically, when big users of power wish to intervene in rate and other utility regulatory proceedings, they have questions or concerns about what the petitioner wishes to do. On Friday, Microsoft and Walmart did not immediately answer the Wyoming Tribune Eagle's questions about whether they had concerns about the electric rate plan that has been pending before the PSC. Several weeks ago, Cheyenne Light, Fuel and Power Co., which goes by the name Black Hills Energy, filed its rate request. The company is requesting $15.4 million in what it described as new annual revenue. Some consumer bills could go up by about 15%; the rate increase could start in March. A small commercial user could see its monthly bill rise by 11.2% to $172.42. Operations consuming even more power would see their rates increase by a lower percentage. So presumably, Microsoft and Walmart, if they were subject to the rate hikes, might have their bills go up by a smaller percentage. Based on a previous post on Microsoft's corporate website, on what industry officials have said and on past announcements, the tech company has some area operations and is further expanding them. For its part, Walmart has two retail stores in Cheyenne and a grocery distribution warehouse on the city's west side. Source: Wyoming Tribune Eagle Jul 24, 2022: This SA soda brand secured $1m in orders in the USA. Target and Walmart want its products PURA Beverages, a local soft drink company, attended two trade shows in America last month. It returned having secured $1 million (R17 million) in orders, and is now due to launch its products on the shelves of Target, one of the largest retailers in the USA, and possibly Walmart. The South African startup launched in 2015. It is now sold in over 14 counties. The company also listed its products on Amazon last year. Founder and CEO Greig Jansen has set his gaze on expanding PURA's footprint in America. PURA has now closed a deal to have PURA Kids on the shelves of 600 Target stores in the first quarter of 2023. "We've been talking to them for over 18 months. They've come across our products at a couple of trade shows we've attended in the US," Jansen told Business Insider South Africa. "The challenge is, with Covid, they weren't really putting new products on their shelves because of the logistics challenges that we were facing." It is now fully set up to distribute in the United States. "Now that they've [Target] said they'll take us in, we've also had to verify our production facilities and make sure they comply with Target, because Target is a big volume store. They have to be comfortable that you're going to provide the volume that they're going to order," Jansen said. Target has over 1,900 stores in the USA, and PURA was asked to supply to over 1,000 stores as a start. Jansen, however, says he wants to start in the top 600 stores on the East Coast first, so as to not bite off more than the company can chew. "It's one thing to get your product on the shelves, but it's another thing making sure the consumer pulls it off the shelves. We want to make sure we create the pull as we go onto the shelves," said the CEO. Walmart, the owner of South Africa's Game and Makro stores, is also interested, said Jansen, and that could open up 10,500 stores and clubs to the brand. A deal with Walmart chould be finalised sometime in October this year, said Jansen. "We're in conversation with them already. What they do is line up all the products that they want to bring on the shelf and the review date is in October. "We've submitted our forms, shared our samples and we are in consideration for the reset which they complete on the 17th of October," said Jansen. Securing $1 million in orders PURA secured $1 million worth of orders in the USA via the Summer Fancy Foods showcase in New York and the KeHe Holiday Show in Chicago, Jansen said. Visiting both trade shows allowed the company to exhibit their products to other big retailers whose attention they had been trying to get for the past two years. "These face-to-face meetings resulted in some big changes for PURA. We are now in the process of working through the listing requirements with multiple additional retailers who have expressed interest in listing our products," Jansen said. "To be able to attend a show and interact directly with buyers and retailers and see their response to your product is always very humbling and exciting at the same time. It makes you feel good," said Jansen. Source: Business Insider Jul 24, 2022: When New Bedford Market Basket Workers Staged a Job Action The summer of 2014 was intense for employees and customers of Market Basket stores in Massachusetts and New Hampshire, including the Market Basket location in New Bedford. On June 23, 2014, the Board of Directors of DeMoulas Supermarkets, Inc., the parent company of Market Basket, fired beloved President and CEO Arthur T. DeMoulas. The board's action resulted in a chain-wide job action that lasted more than six weeks. Market Basket was founded in 1917 in Lowell, Massachusetts, by Athanasios DeMoulas and Efrosini DeMoulas. The company is headquartered in Tewksbury, Massachusetts, and has 90 stores in Massachusetts, Rhode Island, New Hampshire, and Maine. The dismissal of Arthur T. DeMoulas, engineered by his cousin and board member Arthur S. DeMoulas, sparked an employee job action that lasted from June 24, 2014, to August 27, 2014, when employees returned to their jobs. On August 26, 2014, Arthur S. DeMoulas agreed to sell his share of the company to Arthur T. DeMoulas for $1.5 billion. Arthur T. DeMoulas returned as CEO, and the job action was over. During the six-week struggle, many Market Basket employees remained on the job and participated in pickets and rallies during their off hours. Store shelves emptied quickly as deliveries were few and far between. Many Market Basket customers shopped elsewhere during the job action but loyal customers continued to buy what they could find at their favorite Market Basket location. I remember employees at the New Bedford Market Basket store thanking me for continuing to shop there during the job action because they wanted to send a message to the Board of Directors but did not want the store to close. Employees dropped their smocks and posted signs of support for Arthur T. DeMoulas in the center of the New Bedford Market Basket store while the job action lasted. Source: 1420 WBSM Jul 22, 2022: Skinny Butcher Reports "Stranger Things" Nuggets are Walmart's #1 Selling Plant-Based Item July 22, 2022 Plant-based poultry brand Skinny Butcher is reporting record retail sales following its initial debut in US Walmart stores in May. According to the company, its signature Crazy Crispy Chick'n Nuggets have become the top-selling plant-based item across all US Walmart stores, and is the third most popular frozen poultry substitute in the country, based on sales data provided by IRI. "Feedback we're receiving strongly suggests consumers prefer Skinny Butcher to animal protein items" Co-branded with Netflix's immensely popular Stranger Things series, the Skinny Butcher nuggets quickly went viral on social media after launching this past spring. In addition to Walmart, the product entered thousands of Safeway and Midwest and Northern California Costco locations. At Walmart, IRI data from the most recent four-week period shows the nuggets had 3 times the velocity and made 2.3 times more dollar sales than the second best-selling plant-based item. Skinny Butcher credits the product's huge success with its fun and lighthearted branding, which it says connects better with consumers through its approachability. In addition, the flavor profile features special double breading, pea protein, and a proprietary spice blend, making Skinny Butcher one of the tastiest and crispiest plant-based chicken items on the market, the brand states. Better fried chicken Developed by former Garden Fresh Gourmet partners and the LA-based Golden West Food Group, Skinny Butcher sells its innovative line of plant-based poultry both in stores and through a virtual restaurant program. In March 2022, the brand raised $10M for its market launch. "With Skinny Butcher, we sought to create meat-alternatives that still had the same delicious flavor and crunchy texture as traditional fried chicken, but were better for the planet," says Skinny Butcher CEO, Dave Zilko. " Our mission was to introduce a plant-based chicken line in which families did not have to make any sacrifice whatsoever with respect to animal protein comparables. In fact, feedback we're receiving strongly suggests consumers prefer Skinny Butcher to animal protein items." Source: Vegconomist Jul 21, 2022: If You Invested $1,000 In Walmart At Its COVID-19 Pandemic Low, Here's How Much You'd Have Now July 21, 2022 10:30 AM Investors who bought stocks during the COVID-19 market crash in 2020 have generally experienced some big gains in the past two years. But there is no question some big-name stocks performed better than others since the pandemic bottom. Walmart's Bumpy Ride: Discount retailer Walmart Inc. WMT -0.01% + Free Alerts held up relatively well during the pandemic, but supply chain disruptions have been a headache ever since. Fortunately for Walmart investors, the company's grocery and online shopping businesses were relatively insulated from the COVID-19 pandemic. At the beginning of 2020, Walmart shares were trading at $118.86. By the beginning of March, the stock was down to $107.60 as news of the coronavirus spreading in China prompted concerns about a U.S. pandemic. Walmart ultimately bottomed at $102 on March 16, 2020, during the pandemic-driven sell-off. Fortunately for Walmart investors, the dip didn't last long. By mid-April, Walmart shares were back at new all-time highs above $130 and got as high as $151.33 in early September. Walmart In 2022, Beyond: Walmart ultimately peaked at $160.77 in April 2022. Unfortunately, Walmart suffered its worst single-day crash in 35 years in May 2022 after the company reported a bog first-quarter earnings miss. The stock dropped 11.7% that day as investors fretted over Walmart's first negative operating cash flow in any quarter in 27 years. Walmart is dealing with several headwinds in the market in 2022. Walmart explained its negative free cash flow on its earnings call, saying it spent heavily to build its inventory. The cost of that inventory coupled with costs associated with inflation ate into its margins in the quarter. Still, investors who bought Walmart stock the day it hit its 2020 pandemic low and held on have generated a decent return on their investment. In fact, $1,000 in Walmart stock bought on March 16, 2020, would be worth about $1,263 today, assuming reinvested dividends. Looking ahead, analysts are expecting Walmart stock to rebound in the next 12 months. The average price target among the 32 analysts covering the stock is $154, suggesting 17.8% upside from current levels. 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However, the company's influence in the retail industry has allowed it to maintain its pricing power and profitability. The current situation might be worrisome for investors, but Walmart's generous dividend and share buyback plan make it an attractive investment over the long term. Shares of Walmart (WMT) went on a tear during the pandemic. However, WMT stock's lackluster performance since then says a lot about its supply-chain issues and the inflation rates affecting its bottom line. It operates a business where margin pressures can have a crippling impact on its long-term profitability. Nonetheless, WMT is known for its strength, and it has navigated through difficult times in the past. Walmart is fighting fiercely, and though the winding down of the pandemic has resulted in increased spending at stores, rising costs are hurting the company's profit margins. Despite these challenges, though, we believe Walmart is attractive over the long term due to its resiliency and track record. We are bullish on its prospects. Interestingly, however, WMT has a 6 out of 10 on the Smart Score rating on TipRanks. This indicates that the stock may perform in line with the overall market, going forward. Shares of Walmart (WMT) went on a tear during the pandemic. However, WMT stock's lackluster performance since then says a lot about its supply-chain issues and the inflation rates affecting its bottom line. It operates a business where margin pressures can have a crippling impact on its long-term profitability. Nonetheless, WMT is known for its strength, and it has navigated through difficult times in the past. Walmart is fighting fiercely, and though the winding down of the pandemic has resulted in increased spending at stores, rising costs are hurting the company's profit margins. Despite these challenges, though, we believe Walmart is attractive over the long term due to its resiliency and track record. We are bullish on its prospects. Interestingly, however, WMT has a 6 out of 10 on the Smart Score rating on TipRanks. This indicates that the stock may perform in line with the overall market, going forward. Walmart Will Soon Become a Dividend King Walmart's quarterly reports have been confusing for investors. However, its dividend policy makes it highly attractive to investors. The company raised its dividend to $2.24 in its most recent quarter. This number depicts a 2% increase compared to the $2.20 dividend offered in the prior quarter. Along with dividends, Walmart also plans to buy back shares for its 2023 Fiscal Year. In its Fiscal Q4-2022 earnings report, the retail chain revealed that it plans to purchase at least $10 billion worth of shares in Fiscal Year 2023. This news isn't surprising, considering that Walmart bought back shares worth $9.8 billion in Fiscal Year 2022. The share buybacks should help increase the stock's price during a time when the market remains in free-fall. Wall Street's Take on WMT Stock Turning to Wall Street, WMT stock maintains a Strong Buy consensus rating. Out of 27 total analyst ratings, 22 Buys, five Holds, and zero Sell ratings were assigned over the past three months. The average WMT price target is $156.11, implying 19.5% upside potential. Analyst price targets range from a low of $134 per share to a high of $181 per share. The Takeaway - WMT Stock Should Bounce Back Eventually Walmart's perception of being an affordable brand will help the company grow in the near future. Currently, the company's bottom line isn't as attractive, primarily due to high supply-chain costs. Nonetheless, there are clear signs of Walmart bouncing back once inflation and recession fears are in the rear-view mirror. Also, aside from Walmart's fundamental growth, the company adds value to its stock through share buybacks and by paying out a steady dividend. Therefore, WMT is a stock that is worth considering. Source: TipRanks Jul 21, 2022: Walmart lends a hand to local charity Back to School efforts News Staff -July 21, 20220 ARLINGTON, Texas, July 19, 2022-Walmart associates in Arlington helped lend a hand to a local charity looking to help students and families get ready for the school year. Pallets of notebook paper and boxes of crayons and other supplies were loaded into the back of the trailer bound for the Chris Howell Foundation as part of a $10,000 grant that Walmart provided to the organization for the 4th-Annual Chris Howell Foundation Back to School Food & Supply Giveaway Events in Dallas and Fort Worth. "This donation from Walmart is a huge shot in the arm to be able to put the tools in the hands of these students as they prepare to go back to school," said Chris Howell. "We are grateful for this partnership." The organization will provide materials for over 1,000 students, 500 in Dallas County and 500 in Tarrant County in advance of the school year at the two events scheduled for July 30 and August 6. "We are blessed to have the opportunity to work with the Chris Howell Foundation to provide these supplies for students and families in DFW, because giving back to the community is part of our mission here at Walmart," said store lead David Weaver. About Walmart in Texas Walmart Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere. In Texas, we serve customers at nearly 600 retail locations and online through Walmart Online Grocery, Walmart.com, and our family of brands. We are proud to employ more than 178,000 associates in Texas. Walmart supports local businesses, spending $81 billion with Texas suppliers in FYE 2022 and supporting more than 781,000 Texas supplier jobs. Walmart continues to be a leader in employment opportunity, sustainability, and corporate philanthropy. Last year, Walmart and the Walmart Foundation contributed approximately $142 million in cash and in-kind donations to local nonprofits in Texas. Learn more at corporate.walmart.com, and our Facebook, Twitter, Instagram, and Pinterest channels. Source: Focus Daily News Jul 21, 2022: The World Changes, So Do We: A Conversation About ESG July 21, 2022 Today, as we launch our FY2022 Environmental, Social and Governance Summary Report, the world continues to face uncertainty and challenges. They're diverse, ranging from COVID-19 to inflation and social unrest to climate change. Yet despite such challenges - or as much spurred on by them - we are more committed than ever to our efforts to become a regenerative company, one that puts humanity and nature at the center of our business practices. We believe that we maximize the value of our company for our customers and other stakeholders by tackling relevant, pressing societal issues through business. In the pages of this year's FY2022 Summary Report and the accompanying ESG issue briefs for those who want to do a deeper dive on the issues, we share our aspirations, strategies, progress and challenges related to our priority environmental, social and governance issues. A few observations about our FY2022 disclosures: "Who's #1? The Customer, Always." In a year where so many communities turned to Walmart for access to affordable food, products, COVID-19 vaccines and other everyday essentials, it became clearer than ever that delivering our customer proposition is itself a central ESG contribution. With 90% of U.S. homes located within 10 miles of a Walmart, Walmart has served as a critical access point throughout the past two years for food and other essentials. Our Every Day Low Price (EDLP) strategy helps us provide affordable options for our customers through our 10,500 stores and clubs worldwide and through pickup and delivery options. Walmart stores, clubs and distribution centers in the U.S. alone have donated more than 7 billion pounds of food to Feeding America food banks since 2006. Walmart has also served as a critical access point for COVID-19 vaccines: 5,100 COVID-19 vaccination sites have been supported across all U.S. Walmart and Sam's Club pharmacies. As of January 2022, 80% of vaccines have been administered in medically underserved communities. Progress on Rewiring Systems for Equity Because advancing equity in society requires transformation of complex systems, our strategies in arenas such as economic mobility, racial equity and human rights in supply chains involve long-term, intensive collaboration with others on business and philanthropic initiatives extending beyond the four walls of our company. Substantial improvements in outcomes may be years in the making. Yet we are encouraged by signs of progress. Climate Action: More Than Promises In the lead up to COP26 in Glasgow, many companies set goals to help the world get to net-zero emissions. Walmart has been engaging in climate action since 2005 and enlisting suppliers to do the same since the launch of Project Gigaton(TradeMark) in 2017. This year, we reported that we continue to make progress toward our science-based targets for emissions reduction (for example, reporting a 17.5% reduction in FY2021 relative to baseline for Scope 1 and 2 emissions). Walmart has crossed the halfway mark toward reaching our Project Gigaton(TradeMark) goal to reduce or avoid one billion metric tons (a gigaton) of greenhouse gas emissions from the global value chain by 2030. To date, suppliers report having reduced or avoided more than 574 million metric tons of supply chain emissions. No Simple Solution When it comes to complex societal issues, stakeholders don't always agree on the way forward and there can be many obstacles to progress. Through our ESG reporting, we aim to provide insight into Walmart's theories of change, systemic challenges and the efforts of Walmart teams and our partners to overcome them. We continue to promote job creation, advance economic opportunity and improve livelihoods across our global value chain. The Walmart Foundation has provided grants since 2017 to support smallholder farmers in India, Mexico and Central America. These grants are expected to reach more than 730,000 smallholder farmers, over 40% of whom are women. Decision-Useful Reporting Investors have asked businesses for more consistent and relevant ESG information. Nobody wants an avalanche of data or - at the opposite end of the spectrum - high-level headlines; they want concrete facts regarding policies, practices and results relevant for the creation of shared value. We aim to set the standard for decision-useful reporting. This year, we have responded to investor requests for expanded disclosure in specific arenas (for example, public policy engagement and approach to nature). And we continue to aim for consistency and relevance through the structure of our 17 individual ESG issue briefs and approach to metrics (for example, clearer definitions and sharing progress for the last three fiscal years). Source: Walmart Inc. Jul 21, 2022: Skinny Butcher Sets Records at Walmart Jul 21, 2022, 07:01 ET DETROIT, July 21, 2022 /PRNewswire/ -- The Skinny Butcher is making a name for himself in freezers across America. The latest plant-based meat alternative has only been in grocery stores a few months and is already enjoying a spectacular debut. Thanks to an initial launch in Walmart, which featured a co-branded item with Netflix's Stranger Things series - quickly followed by Midwest and Northern California Costco Clubs and over 1,000 Safeway stores - buyers are routinely stating Skinny Butcher is already the best-selling plant-based chicken items they've ever featured. Developed by the former Garden Fresh Gourmet partners (who sold to the Campbell's Soup Company for $231 million), Skinny Butcher is partnering, on an equity level, with LA-based Golden West Food Group. Golden West manufactures the line exclusively and is sharing sales responsibilities with Skinny Butcher, ensuring speed to market on a national scale, which is rapidly occurring. The secret? It's two fold: First, Skinny Butcher's lighthearted brand voice and brand personality are obviously connecting with consumers as no other plant-based line has. Designed to put a smile on your entire family's faces, Skinny Butcher easily offers the most approachable chick'n items in grocers' freezers. Second, flavor profile. Skinny Butcher employs a progressive fiber strain developed in Italy, which lends itself to a remarkable meat-like texture. From there, pea protein-the industry gold standard and the Skinny Butcher brand standard-and a proprietary spice blend create a superior taste. Combined with a double breading method, Skinny Butcher offers the crispiest and tastiest options on the market. Skinny Butcher CEO, Dave Zilko, explains, "With Skinny Butcher, we sought to create meat-alternatives that still had the same delicious flavor and crunchy texture as traditional fried chicken, but were better for the planet. Our mission was to introduce a plant-based chicken line in which families did not have to make any sacrifice whatsoever with respect to animal protein comparables. In fact, feedback we're receiving strongly suggests consumers prefer Skinny Butcher to animal protein items." Zack Levenson, Chief Operating Office at Golden West Food Group, adds, "The growing popularity of Skinny Butcher is quite organic in that people are looking for options that not only taste delicious, but they can also feel good about feeding to their families. We wanted to create a sustainable product that accomplished this so well that people were questioning if it did include chicken after all." And consumers seem to enthusiastically agree. In sales data provided by IRI, over the most recent four-week period, Skinny Butchers Stranger Things Crazy Crispy Chick'n Nuggets were the #1 plant-based item in all Walmart stores, had 3 times the velocity of and make 2.3 times more dollar sales than the second fastest-selling item. In addition, the nuggets are also currently the third most popular frozen poultry substitute item in the United States. Shoppers can currently find Skinny Butcher's Crazy Crispy Chick'n products in the following retailers and locations: Costco - Northern California, Midwestern United States and select Utah locations Gordon Food Service, all U.S. retail locations Walmart (all US locations) and walmart.com Safeway - Seattle, Mid-Atlantic and Intermountain regions Visit skinnybutcher.com for more information, and make sure to stock up to enjoy while binging Part II of Stranger Things Part Volume 4 on Netflix. About Skinny Butcher: Detroit-based Skinny Butcher LLC is committed to a skinny planetary footprint via its breakthrough line of plant-based protein poultry items, being offered nationally both at retail and via its unique virtual kitchen program. About Golden West Food Group: Golden West Food Group (GWFG) is a premium manufacturer of food products with headquarters in Vernon, California. GWFG offers thousands of products nationwide to a variety of customers in Foodservice, Military, Private Label and Retail Channels including Grocery, Club & Mass Merchant. Source: PR Newswire Jul 20, 2022: Surge of spending expected on school Retailers expect to see strong back-to-school spending this year, even as shoppers look for bargains given the dwindling purchasing power of their dollars. The annual ritual that presages the return to classrooms is defined by some as running from July 5 through Labor Day. Back-to-school is typically the second-largest spending event for parents each year, behind the Christmas shopping season, according to financial services firm Deloitte. Despite a year marked by inflation and continued problems with the supply chain, spending should rise and "retailers should really have something to celebrate," said Carol Spieckerman, a retail consultant and president of Spieckerman Retail. "With inflation and rising fuel costs taking a bite out of household budgets, shoppers are seeking to avoid delivery charges and to accomplish as much as possible in a single trip," Spieckerman said. "This presents a real opportunity for retailers to amp up in-store merchandising and use back-to-school deals and private-brand value comparisons as lures that will lead to additional purchases," she said. Walmart Inc. said that customers are shopping earlier than ever to get the best deals, whether they shop online or in stores. With 99% of schools returning to in-person learning this year, the Bentonville-based retailer will have more traditional back-to-school essentials than in the last couple of years when the pandemic had many students learning remotely. "To ensure that we have the best selection of back-to-school items for this upcoming season, we researched this year's hottest trends, applied feedback from our customers and maintained a pulse on the needs of teachers and students across the country," a Walmart spokeswoman said in an email. "We always want to make sure customers can find what they are looking for no matter when they choose to shop, so we buy plenty of inventory to provide a wide assortment through the entire season," the spokeswoman said. Dillard's, the Little Rock-based department store chain, declined to comment. The company is in its quiet period ahead of its second-quarter earnings report, a spokeswoman said. The National Retail Federation projects total back-to-school spending this year will remain flat, matching last year's record $37 billion. That figure includes both the kindergarten-through-12th-grade and college-age students. The trade association's economists said in a conference call with media on Tuesday that they expect U.S. spending on the younger group to work out to an average of $864 per child. "Families consider back-to-school and college items as an essential category, and they are taking whatever steps they can, including cutting back on discretionary spending, shopping sales and buying store- or off-brand items in order to purchase what they need for the upcoming school year," said federation president and chief executive Matthew Shay. The National Retail Federation conducts the survey every July in partnership with Prosper Insights and Analytics. Deloitte's annual back-to-school survey found that even though more than half of parents are concerned about higher prices because of inflation, 37% plan to spend about $661 per child this year, or about $34.4 billion. Last year, parents spent about $612 for each child. Deloitte's figures don't include spending for college students. Fewer consumers than last year expect to finish their back-to-school shopping by the end of July -- about 53% compared to last year's 59% And because of ongoing concerns about supply chain disruptions, 63% expect to find items out of stock. Brand loyalty is expected to fall by the wayside, as 77% of of parents said they will buy another brand if their preferred one is out of stock or too expensive. Sucharita Kodali, a vice president and principal analyst at Forrester Research, actually advises consumers to shop around for back-to-school products. Apparel and educational supplies have under-paced inflation according to the Consumer Price Index," Kodali said. "Marketplaces and generic brands can win in this environment," Kodali said. "I think if people are paying more than in the past, they probably aren't shopping around enough." Along the same lines, Spieckerman said that this back-to-school season will highlight the "interplay between digital and physical" shopping channels "as some shoppers conduct price comparisons and access school supply lists online, then hit the bricks to complete purchases." Source: The Northwest Arkansas Democrat-Gazette Jul 20, 2022: Walmart Wellness Day focuses on getting healthy for a new school year 1:54 pm Wednesday, July 20, 2022 As a new school year approaches, Walmart is inviting its communities to get healthy at Walmart Wellness Day on Saturday, July 23, when customers can receive free glucose, cholesterol, BMI and blood pressure screenings, as well as COVID-19 vaccines and affordable immunizations against shingles, pneumonia, tetanus, hepatitis, HPV and flu at pharmacies nationwide. Walmart's quarterly Wellness Day event on Saturday, July 23, will take place in more than 4,600 pharmacies across the country. The event will take place from 10 a.m. to 2 p.m. local time on July 23. Select stores will also feature vision screenings to make it even easier for customers to access the resources they need. The goal of Walmart Wellness Day is to encourage customers to get healthy and stay on a healthy track by helping them know their numbers and then seek care to improve their lifestyles. Knowing your numbers is just a start; but armed with that information, you can make decisions and track your health improvement. During this one-day event, families can get all the below in one easy location: Free health screenings, including glucose, cholesterol, blood pressure, body mass index and vision screenings (select locations) Affordable immunizations, including pneumonia, tetanus, HPV, measles, mumps, rubella (MMR), varicella (chicken pox/shingles), whooping cough (TDAP), Hep A & B, and more COVID-19 vaccines at no cost to patient Wellness resources and the opportunity to talk with pharmacists Customers can find a free event near them at Walmart.com/wellnesshub. Source: elizabethton.com Jul 20, 2022: Walmart Hosts Wellness On Day July 23 July 20, 2022 BENTONVILLE, Ark., July 20, 2022 - Walmart invites communities to get healthy ahead of a new school year at Walmart Wellness Day on Saturday, July 23, from 10 a.m. - 2p.m. local time, where customers can receive free glucose, cholesterol, BMI and blood pressure screenings as well as affordable immunizations like tetanus, hepatitis, HPV, COVID-19 and more at pharmacies nationwide. Walmart Wellness Day encourages families to get healthy and stay on a healthy track by helping them know their numbers and then seek care to improve their lifestyles. Knowing their numbers is just a start, but additional, helpful information allows customers to make decisions and track their health improvement. Walmart Wellness Day is also a great time for customers to learn about our health and wellness offerings and solutions. More than 4,600 Walmart pharmacies across the country will host Walmart Wellness Day events on July 23. Select stores will also feature vision screenings to make it even easier for customers to access the resources they need. Walmart Wellness Day events will feature the following health resources, administered by qualified pharmacy and Vision Center teams: Free health screenings, including glucose, cholesterol, blood pressure, body mass index and vision screenings (select locations) Affordable immunizations, including pneumonia, tetanus, HPV, measles, mumps, rubella (MMR), varicella (chicken pox/shingles), whooping cough (TDAP), Hep A & B and more No-cost COVID-19 vaccines Wellness resources and the opportunity to talk with pharmacists Routine eye exams are an important part of taking care of your whole health. Stop into a Walmart Vision Center location to help with adjustments, prescription eyewear, reading glasses and contact lenses. Several Vision Centers recently remodeled and updated into state-of-the-art facilities with an all-new customer experience featuring family tables, full-length mirrors for a functional try-on atmosphere, newly designed and interactive shelving, semi-private spaces for associate consultations and more. "An exciting time of the year is approaching fast, and we look forward to offering these health and wellness resources for families as they gear up for school," said Kevin Host, Walmart's senior vice president of pharmacy. "Wellness Day allows us to continue helping our communities live better and healthier through free screenings, affordable immunizations and other solutions. The back-to-school season is a busy one, and these are ways we hope to provide some easy, convenient options for our customers." Kevin Host continued, "Health care delivery is something we're always innovating through not just our pharmacies but also through Walmart Health Virtual Care and Walmart Health Centers. Our goal is to offer care for our customers when and where they need it." Since 2014, Walmart pharmacies have hosted Walmart Wellness Days, contributing more than 4.7 million free health screenings for customers. More than 4,000 Walmart stores are in medically underserved areas, which means Walmart is often the first stop for health care in these rural and underserved communities. To find a free event in your neighborhood, visit Walmart.com/wellnesshub. Source: Walmart Inc. Jul 20, 2022: This EV Stock More Than Doubled After Key Order From Walmart. But Is It a Buy? Dipanjan Banchur July 20, 2022 Last week, Walmart signed a definitive agreement with Canoo (GOEV) to buy 4,500 all-electric delivery vehicles, leading to a surge in its stock price. However, GOEV has had a track record of not reporting any revenue and has failed to start the mass production of vehicles. So, will it be wise to buy the stock now? Read on to learn our view. Canoo Inc. (GOEV) is a mobility technology company engaged in designing, engineering, and developing electric vehicles (EVs) for the commercial and consumer markets. The company offers lifestyle delivery vehicles, lifestyle vehicles, multi-purpose delivery vehicles, and pickups. GOEV's stock has gained close to 70% since the news release that Walmart Inc. (WMT) signed a definitive agreement with the company on July 12 to buy 4,500 all-electric delivery vehicles starting with the Lifestyle Delivery Vehicle (LDV). WMT also has the option to buy up to 10,000 vehicles from GOEV. WMT seeks to use the EVs to deliver WMT's online orders, including InHome and Express Delivery. GOEV's Investor, Chairman, and CEO Tony Aquila said, "We are proud to have been selected by Walmart, one of the most sophisticated buyers in the world, to provide our high-tech, all-electric, American-made Lifestyle Delivery Vehicle to add to their impressive logistics capabilities." "This is the winning algorithm to seriously compete in the last mile delivery race, globally," he added. While WMT's agreement portrays a rosy growth picture, GOEV has failed to deliver a single commercial vehicle so far. In its SPAC presentation, the company projected that it could generate revenues of $329 million in 2022. But the company could not generate any revenue in the last reported quarter. The stock has declined 48.2% in price year-to-date and 51.9% over the past year to close the last trading session at $4. Here's what could influence GOEV's performance in the upcoming months: Disappointing Financials GOEV's losses from operations widened 45% year-over-year to $140.78 million for the first quarter ended March 31, 2022. Its net loss widened 723.3% year-over-year to $125.36 million. In addition, its loss per share widened 671.4% year-over-year to $0.54. Also, its cash, cash equivalents, and restricted cash declined 81.5% year-over-year to $118.62 million at the end of the period. Furthermore, its adjusted EBITDA loss widened 135.8% year-over-year to $117.42 million. Unfavorable Analyst Estimates GOEV's EPS for fiscal 2022 and 2023 is expected to remain negative. It failed to surpass Street EPS estimates in three of the trailing four quarters. Stretched Valuation In terms of forward EV/S, GOEV's 8.20x is 646.6% higher than the 1.10x industry average. Likewise, its 8.79x forward P/S is 902.9% higher than the 0.88x industry average. And the stock's 3.83x trailing-12-month P/B is 85.9% higher than the 2.06x industry average. Lower-than-industry Profitability GOEV's trailing-12-month ROCE is negative compared to the 17.15% industry average. Likewise, its trailing-12-month ROTC is negative compared to the 7.16% industry average. Furthermore, the stock's trailing-12-month ROA is negative compared to the industry average of 5.64%. POWR Ratings Reflect Bleak Prospects GOEV has an overall F rating, equating to a Strong Sell in our POWR Ratings system. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree. Our proprietary rating system also evaluates each stock based on eight distinct categories. GOEV has a D grade for Value, consistent with its 8.79x forward P/S, which is 902.9% higher than the 0.88x industry average. It has an F grade for Quality, in sync with its lower-than-industry profitability. GOEV is ranked #50 out of 64 stocks in the D-rated Auto & Vehicle Manufacturers industry. Click here to access GOEV's Growth, Momentum, Stability, and Sentiment ratings. Bottom Line Since the news release about a "definitive agreement' to deliver 4,500 LDVs to big-box retailer WMT, GOEV's stock has gained 68.8%. However, the company has failed to keep the promises made during its SPAC presentation regarding generating revenues in 2022. Also, it has not been able to deliver a single commercial vehicle to date. Furthermore, the company's liquidity position is dire, as its cash, cash equivalents, and restricted cash have declined 81.5% year-over-year to $118.62 million. Given its disappointing financials, unfavorable analyst estimates, stretched valuation, and lower-than-industry profitability, the stock is best avoided now. How Does Canoo Inc. (GOEV) Stack Up Against Its Peers? GOEV has an overall POWR Rating of F, equating to a Strong Sell. Therefore, one might want to consider investing in other Auto & Vehicle Manufacturers stocks with an A (Strong Buy) or B (Buy) rating, such as Honda Motor Co., Ltd. (HMC), Mercedes-Benz Group AG (DDAIF), and Stellantis N.V. (STLA). GOEV shares were unchanged in premarket trading Wednesday. Year-to-date, GOEV has declined -48.19%, versus a -16.80% rise in the benchmark S&P 500 index during the same period. Source: Entrepreneur Jul 20, 2022: Walmart Wellness Day this Saturday Walmart is inviting communities to get healthy ahead of a new school year this Saturday from 10 a.m. to 2 p.m. Customers can receive free glucose, cholesterol, BMI and blood pressure screenings as well as affordable immunizations like tetanus, hepatitis, HPV, COVID-19 and more at pharmacies nationwide, according to a news release. Walmart Wellness Day will help families know their numbers and then seek care to improve healthy lifestyles. More than 4,600 Walmart pharmacies - including Ashland, Cannonsburg and South Point - across the country will participate in Walmart Wellness Day. Some stores will also feature vision screenings to make it even easier for customers to access resources. "An exciting time of the year is approaching fast, and we look forward to offering these health and wellness resources for families as they gear up for school," said Kevin Host, Walmart's senior vice president of pharmacy. "Wellness Day allows us to continue helping our communities live better and healthier through free screenings, affordable immunizations and other solutions. The back-to-school season is a busy one, and these are ways we hope to provide some easy, convenient options for our customers. Health care delivery is something we're always innovating through not just our pharmacies but also through Walmart Health Virtual Care and Walmart Health Centers. Our goal is to offer care for our customers when and where they need it." Since 2014, Walmart pharmacies have hosted Walmart Wellness Days, contributing more than 4.7 million free health screenings for customers. Source: The Daily Independent Jul 20, 2022: Costco, Walmart, Kroger, and Lidl Are Closing Some Locations Right Now July 20, 2022 | 9:45 AM The grocery industry has endured a rollercoaster of ups and downs over the past couple of years. And, the turbulence is far from over as supermarket chains continue to navigate daunting economic pressures as well as new technological advances such as digital shopping, cashierless checkouts, and even smart shopping carts. In this ever-changing environment, upgraded stores have popped up to accommodate new demands and services while some companies have also been forced to trim the fat by closing up shop in areas where it's no longer worthwhile to operate. These Retailers Are Raising Prices The most recent round of store closures affects four major players in the grocery space. Read on to find out why these chains are permanent-or in one case temporarily-closing locations throughout the country. Costco costco Shutterstock Shoppers in Springdale, Ohio will need to stock up on their favorite Costco bulk items soon as the city's only location braces to close sometime this fall. The corporation has wavered back and forth on the decision over the past few months with initial plans to turn the store into a Costco Business Center. But, that project ultimately fell through and Springdale's economic development director, Andy Kuchta, officially confirmed the closure in a recent statement to FOX19 NOW. "Their real estate agent called me and said the operations team at Costco spent the past 2.5 months reviewing options for that conversion and determined it could not cost-effectively be done due to the size of our store and the smaller business center," he said. The Springdale Costco, which has been open since 2000, is expected to keep its lights on until a new location in Liberty Township-about 10 miles away-has its grand opening scheduled for November 2022. Source: Eat This, Not That Jul 19, 2022: Is Trending Stock Walmart Inc. (WMT) a Buy Now? July 19, 2022 WMT - Free Report) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future. Shares of this world's largest retailer have returned +8.9% over the past month versus the Zacks S&P 500 composite's +4.4% change. The Zacks Retail - Supermarkets industry, to which Walmart belongs, has gained 8.3% over this period. Now the key question is: Where could the stock be headed in the near term? While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making. Earnings Estimate Revisions Rather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings. We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. For the current quarter, Walmart is expected to post earnings of $1.82 per share, indicating a change of +2.3% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days. The consensus earnings estimate of $6.40 for the current fiscal year indicates a year-over-year change of -0.9%. This estimate has remained unchanged over the last 30 days. For the next fiscal year, the consensus earnings estimate of $6.94 indicates a change of +8.3% from what Walmart is expected to report a year ago. Over the past month, the estimate has remained unchanged. With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #4 (Sell) for Walmart. The chart below shows the evolution of the company's forward 12-month consensus EPS estimate: 12 Month EPS 12-month consensus EPS estimate for WMT _12MonthEPSChartUrl Projected Revenue Growth While earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth. For Walmart, the consensus sales estimate for the current quarter of $148.41 billion indicates a year-over-year change of +5.2%. For the current and next fiscal years, $594.6 billion and $614.28 billion estimates indicate +3.8% and +3.3% changes, respectively. Last Reported Results and Surprise History Walmart reported revenues of $141.57 billion in the last reported quarter, representing a year-over-year change of +2.4%. EPS of $1.30 for the same period compares with $1.69 a year ago. Compared to the Zacks Consensus Estimate of $138.27 billion, the reported revenues represent a surprise of +2.39%. The EPS surprise was -10.96%. Over the last four quarters, Walmart surpassed consensus EPS estimates three times. The company topped consensus revenue estimates each time over this period. Valuation No investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance. While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price. The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued. Walmart is graded C on this front, indicating that it is trading at par with its peers. Click here to see the values of some of the valuation metrics that have driven this grade. Conclusion The facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Walmart. However, its Zacks Rank #4 does suggest that it may underperform the broader market in the near term. Source: Zacks Jul 19, 2022: Walmart to host Community Wellness Day July 23 July 19, 2022 Special to the Tribune Walmart invites communities to get healthy ahead of a new school year at Walmart Wellness Day on Saturday, July 23 from 10 a.m. - 2 p.m., where customers can receive free glucose, cholesterol, BMI and blood pressure screenings as well as affordable immunizations like tetanus, hepatitis, HPV, COVID-19 and more at pharmacies nationwide. Walmart Wellness Day encourages families to get healthy and stay on a healthy track by helping them know their numbers and then seek care to improve their healthy lifestyles. Knowing your numbers is just a start but additional, helpful information allows you to make decisions and track your health improvement. Walmart Wellness Day is also a great time for customers to learn about our health and wellness offerings and solutions. More than 4,600 Walmart pharmacies across the country will host Walmart Wellness Day events from 10 a.m. - 2p.m. local time on July 23. Select stores will also feature vision screenings to make it even easier for customers to access the resources they need. Walmart Wellness Day events will feature the following health resources, administered by qualified pharmacy and Vision Center teams: Free health screenings, including glucose, cholesterol, blood pressure, body mass index and vision screenings (select locations) Affordable immunizations, including pneumonia, tetanus, HPV, measles, mumps, rubella (MMR), varicella (chicken pox/ shingles), whooping cough (TDAP), Hep A & B and more No cost to patient No cost to patient COVID-19 vaccines Wellness resources + opportunity to talk with pharmacists "An exciting time of the year is approaching fast, and we look forward to offering these health and wellness resources for families as they gear up for school," said Kevin Host, Walmart's senior vice president of pharmacy. "Wellness Day allows us to continue helping our communities live better and healthier through free screenings, affordable immunizations and other solutions. The back-to-school season is a busy one, and these are ways we hope to provide some easy, convenient options for our customers. Healthcare delivery is something we're always innovating through not just our pharmacies but also through Walmart Health Virtual Care and Walmart Health Centers. Our goal is to offer care for our customers when and where they need it." Since 2014, Walmart pharmacies have hosted Walmart Wellness Days, contributing more than 4.7 million free health screenings for customers. More than 4,000 Walmart stores are in medically underserved areas, which means Walmart is often the first stop for health care in these rural and underserved communities. To find a free event in your neighborhood, visit Walmart.com/ wellnesshub. About Walmart Walmart Inc. helps people around the world save money and live better - anytime and anywhere - in retail stores, online, and through their mobile devices. Each week, approximately 230 million customers and members visit more than 10,500 stores and clubs under 46 banners in 24 countries and eCommerce websites. With fiscal year 2022 revenue of $573 billion, Walmart employs approximately 2.3 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting corporate. walmart.com, on Facebook at facebook.com/walmart and on Twitter at twitter.com/walmart.1 Source: Kiowa County Signal Jul 19, 2022: BOMB THREATS CONTINUE AGAINST NJ WALMART STORES A series of bomb threats were made against retail stores and a hospital in New Jersey on Monday. For the second time in a week, the East Brunswick Walmart received a bomb threat. Walmart stores in Old Bridge and Edison also received threats. New Brunswick Today reported a bomb threat was also made against Costco on Route 1 in North Brunswick. Secaucus police confirmed a bomb threat was also made against Hudson Regional Hospital. In each case, the bomb threats turned out to be bogus. The Daily Voice reports all of the Walmart threats came in around the same time, 3:30 p.m. There appears to have been an uptick in the number of bomb threats targeting large retail stores, malls and other public places. Police have not announced any suspects or arrests. Investigators have also not said if they believe any of the recent threats are related. Source: New Jersey 101.5 Jul 19, 2022: Pre-Open Movers: West Fraser Timber Gains on Takeover Report, JNJ on Earnings Jul 19, 2022 09:16 Pre-Open Stock Movers: Apellis Pharmaceuticals, Inc. (Nasdaq: NASDAQ:APLS) 23% HIGHER; announced that the U.S. Food and Drug Administration (FDA) has accepted and granted Priority Review designation for the intravitreal pegcetacoplan New Drug Application (NDA). Pegcetacoplan is an investigational, targeted C3 therapy for the treatment of geographic atrophy (GA) secondary to age-related macular degeneration (AMD). West Fraser Timber (WFG) 22% HIGHER; CVC, Kronospan in joint bid for West Fraser Timber - Reuters Silvergate Capital (NYSE:SI) 11% HIGHER; reported Q2 EPS of $1.13, $0.28 better than the analyst estimate of $0.85. The Honest Company (HNST) 8% HIGHER; announced today that it has expanded distribution to Walmart (NYSE:WMT). The brand is now available on Walmart.com and will launch in thousands of Walmart stores in the fall. Signature Bank (NASDAQ:SBNY) 7% LOWER; reported Q2 EPS of $5.26, $0.20 better than the analyst estimate of $5.06. Cinemark Holdings (NYSE:CNK) 5% HIGHER; Morgan Stanley (NYSE:MS) upgraded from Equalweight to Overweight with a price target of $22.00. Arista Networks (ANET) 4% HIGHER; Needham & Company upgraded from Hold to Buy with a price target of $128.00. Skechers U.S.A., Inc. (SKX) 4% LOWER; new strong sell at Spruce Point. Block Inc. (SQ) 1% LOWER; Macquarie downgraded from Outperform to Neutral with a price target of $64.00 (from $140.00). Johnson & Johnson (NYSE:JNJ) 1% HIGHER; reported Q2 EPS of $2.59, $0.04 better than the analyst estimate of $2.55. Revenue for the quarter came in at $24 billion versus the consensus estimate of $23.8 billion. Company maintaining 2022 full-year guidance at midpoints for adjusted operational sales and adjusted operational earnings per share; strengthening U.S. dollar impacting estimate for reported results. Source: Investing.com Jul 19, 2022: Walmart's EV deal blocks Amazon as rivalry expands July 19, 2022 Dive Brief: Electric vehicle startup Canoo is barred from entering into a deal with Amazon as part of its agreement with Walmart to supply the retail giant with at least 4,500 EVs, a regulatory filing last week showed. Canoo cannot design, manufacture or sell EVs to Amazon, and the company is also blocked from any deal that would transfer company control to the e- commerce giant. Any termination of the agreement, which lasts for five years, would end its exclusivity provision, according to the filing. Preventing Amazon from getting Canoo delivery vehicles is "a defensive maneuver" by Walmart to protect itself against a competitor, but it's unlikely to draw concern from the e-commerce giant, Rick Watson, founder and CEO of RMW Commerce Consulting, said in an interview. "Amazon is probably more amused than anything that Walmart seems to care so much about it." Dive Insight: EV manufacturers are being drawn into the orbit of Walmart and Amazon's continued rivalry. Both companies are looking to scale their logistics networks while advancing toward their sustainability goals, using different mixes of EV makers to get there. "As much as possible, we are seeking to electrify our last-mile offerings to customers," according to the climate change section of Walmart's ESG report, published April 6. Amazon has already made headway in its use of EVs. The company delivered more than 20 million packages using electric vehicles to customers in North America and Europe in 2020, according to its most recent sustainability report. It also has an EV order commitment that dwarfs Walmart's deal with Canoo. Amazon ordered 100,000 vans from Rivian to be delivered by 2030, and the e-commerce giant began testing the electric vans on delivery routes in cities last year. The deal with Rivian also hands sizable influence over to Amazon. Under the agreement, Rivian's last mile delivery vehicles will be available exclusively to Amazon for the four years following the first delivery, according to the startup's 10-K. Rivian also acknowledged that the relationship "may deter Amazon's competitors or other third parties from contracting with us." Walmart, meanwhile, has also reserved 5,000 BrightDrop electric delivery vans and ordered 1,100 Ford E-Transit all-electric vans. Relative to Walmart's 3,800 stores in the U.S., the retailer's Canoo order is "pretty small" and shows its use of EVs in deliveries remains in the experimentation stage, Watson said. Walmart could expand its EV fleet further if it exercises its option to purchase an additional 5,500 EVs from Canoo as outlined in the agreement. The deal also shows that Walmart plans to take a stake in Canoo via a warrant agreement - if Walmart exercises all its potential shares, it would own more than 20% of the company. Although restrictive, Walmart and Amazon's purchase agreements are a crucial lifeline for the startup EV makers as they attempt to stay afloat. Rivian posted a $4.7 billion net loss in 2021, while Canoo's net loss was $346.8 million. "In the logistics space startups typically have had a rough time and often get squeezed into tough deals," wrote Hanns-Christian Hanebeck, founder and CEO of freight management software company Truckl, on LinkedIn. "Obviously [Canoo's] entire future has been predicated on winning this one large customer who has an outsized amount of leverage in the relationship." Canoo deferred questions from Supply Chain Dive about the exclusivity provision to Walmart, which did not respond to a request for comment. Source: Utility Dive Jul 19, 2022: The Honest Company Surges Higher on Expansion to Walmart Jul 19, 2022 11:26 Shares of sustainable, family consumer goods maker, The Honest Company (NASDAQ:HNST) jumped 11% on Tuesday after the company announced that it has expanded its distribution to include retail mega-chain, Walmart (NYSE:WMT). The brand is now available on Walmart.com and will launch in thousands of Walmart stores in the fall. The Honest Company, founded by actress Jessica Alba in 2012, will utilize its new Walmart distribution to expand its accessibility to existing and new consumers. Expanding its reach as a clean and sustainability-focused brand to the millions of customers who shop at Walmart each week. "Honest and Walmart are both committed to helping customers live better. This key addition to our strategic list of retailers not only enables us to increase distribution of our baby and personal care products, but also strengthens our ability to grow our community of conscious consumers," said Nick Vlahos, Chief Executive Officer of The Honest Company. "Our expansion to Walmart is the perfect example of our omni-channel retail strategy at work, enabling us to bring access to our products in stores and on the digital shelf to even more consumers every day." Source: Investing.com Jul 18, 2022: If You Got These Common Meds From Walmart or Walgreens, Don't Take Them, FDA Warns To combat common aches, pains, and ailments, many of us keep a well-stocked medicine cabinet or first-aid kit. You likely have Tums on hand in case of an upset stomach, and a pain reliever like Tylenol or Advil to treat a sudden headache. Oftentimes, the most convenient-and the most affordable-retailers to buy these products at are your local Walgreens or Walmart stores. But the U.S. Food and Drug Administration (FDA) just issued a warning about one over-the-counter (OTC) medication that you could have purchased at either chain, and will want to stop using immediately. Read on to find out which common meds are now subject to recall. Source: Best Life Jul 18, 2022: Is it Time to Dump Walmart Inc (WMT) Stock After it Is Higher By 3.01% in a Week? July 18, 2022 2:59 PM Overall market sentiment has been high on Walmart Inc (WMT) stock lately. WMT receives a Bullish rating from InvestorsObserver Stock Sentiment Indicator. What is Stock Sentiment? In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn't incorporate anything to do with the health or profitability of the underlying company. Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive. InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend. Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments. What's Happening With WMT Stock Today? Walmart Inc (WMT) stock is higher by 0.12% while the S&P 500 has fallen -0.56% as of 2:45 PM on Monday, Jul 18. WMT is higher by $0.15 from the previous closing price of $129.07 on volume of 2,853,599 shares. Over the past year the S&P 500 is lower by -9.79% while WMT has fallen -8.50%. WMT earned $4.65 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 27.75. More About Walmart Inc America's largest retailer by sales, Walmart operated over 10,500 stores under 46 banners at the end of fiscal 2022, selling a variety of general merchandise and grocery items. Its home market accounted for 82% of sales in fiscal 2022, with Mexico and Central America (6%) and Canada (4%) its largest external markets. In the United States at the namesake banner, around 56% of sales come from grocery, 32% from general merchandise, and 11% from health and wellness items. The company operates several e-commerce properties apart from its eponymous site, including Flipkart and shoes.com (it also owns a roughly 10% stake in Chinese online retailer JD.com). Combined, e-commerce accounted for about 13% of fiscal 2022 sales. Click Here to get the full Stock Report for Walmart Inc stock. Source: InvestorsObserver Jul 18, 2022: Durable Goods Wholesalers Global Market Report 2022 - ResearchAndMarkets.com July 18, 2022 05:55 AM DUBLIN--(BUSINESS WIRE)--The "Durable Goods Wholesalers Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering. The global durable goods wholesalers market is expected to grow from $20,533.15 billion in 2021 to $22,844.28 billion in 2022 at a compound annual growth rate (CAGR) of 11.3%. The market is expected to grow to $33,710.81 billion in 2026 at a compound annual growth rate (CAGR) of 10.2%. Major companies in the durable goods wholesalers market include Brueder Mannesmann AG, Tech Data, Walmart Inc., Wuchan Zhongda Group, Lowe's Companies Inc., Ferguson plc, Sysco Corp, Xiamen C&D, Arrow Electronics, and WPG Holdings The durable goods wholesalers market consists of sales of capital or durable goods by entities (organizations, sole traders, and partnerships) that are engaged in selling capital or durable goods to other businesses on a wholesale basis. wholesalers generally take title to the goods that they sell, in other words, they buy and sell goods on their account. Durable goods are new or used items generally with a normal life expectancy of three years or more. Durable goods wholesale trade establishments are engaged in wholesaling products, such as motor vehicles, furniture, construction materials, machinery and equipment (including household-type appliances), metals and minerals (except petroleum), sporting goods, toys, and hobby goods, recyclable materials, and parts. The major type of durable goods wholesalers are motor vehicle and motor vehicle parts and supplies wholesalers, furniture and home furnishing wholesalers, lumber and other construction materials wholesalers, professional and commercial equipment and supplies wholesalers, metal and mineral (except petroleum) wholesalers, household appliances and electrical and electronic goods wholesalers, hardware, and plumbing and heating equipment and supplies wholesalers, machinery, equipment, and supplies wholesalers, and miscellaneous durable goods wholesalers. A wholesaler in the furniture and furnishing industry provides products to retailers. Wholesale furniture companies operate on a business-to-business (B2B) basis, which means they sell to other businesses rather than to consumers. The ownership forms include wholesale/distribution chain and independent wholesalers having premium, mid-range and economy prices. Asia Pacific was the largest region in the durable goods wholesalers market in 2021. Western Europe was the second-largest region in the durable goods wholesalers market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Technology implementation in the wholesale industry increases efficiency and streamlines operations. Digitization in the wholesale trade market enhances the customer experience by efficiently engaging with them through seamless connectivity. Digitization allows wholesale companies to automate their sales order process and create an omnichannel strategy that is interacting with customers on all sales channels and giving customers multiple purchase options. Wasco, a leading wholesaler of central heating and plumbing products is using a solution that manages and publishes product information across all channels intending to create a unique omnichannel customer experience. Key Topics Covered: 1. Executive Summary 2. Report Structure 3. Durable Goods Wholesalers Market Characteristics 3.1. Market Definition 3.2. Key Segmentations 4. Durable Goods Wholesalers Market Product Analysis 4.1. Leading Products/ Services 4.2. Key Features and Differentiators 4.3. Development Products 5. Durable Goods Wholesalers Market Supply Chain 5.1. Supply Chain 5.2. Distribution 5.3. End Customers 6. Durable Goods Wholesalers Market Customer Information 6.1. Customer Preferences 6.2. End Use Market Size and Growth 7. Durable Goods Wholesalers Market Trends And Strategies 8. Impact Of COVID-19 On Durable Goods Wholesalers 9. Durable Goods Wholesalers Market Size And Growth 9.1. Market Size 9.2. Historic Market Growth, Value ($ Billion) 9.2.1. Drivers Of The Market 9.2.2. Restraints On The Market 9.3. Forecast Market Growth, Value ($ Billion) 9.3.1. Drivers Of The Market 9.3.2. Restraints On The Market 10. Durable Goods Wholesalers Market Regional Analysis 10.1. Global Durable Goods Wholesalers Market, 2021, By Region, Value ($ Billion) 10.2. Global Durable Goods Wholesalers Market, 2016-2021, 2021-2026F, 2031F, Historic And Forecast, By Region 10.3. Global Durable Goods Wholesalers Market, Growth And Market Share Comparison, By Region 11. Durable Goods Wholesalers Market Segmentation 11.1. Global Durable Goods Wholesalers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion Motor Vehicle And Motor Vehicle Parts And Supplies Wholesalers Furniture And Home Furnishing Wholesalers Lumber And Other Construction Materials Wholesalers Professional And Commercial Equipment And Supplies Wholesalers Metal And Mineral (except Petroleum) Wholesalers Household Appliances And Electrical And Electronic Goods Wholesalers Hardware, And Plumbing And Heating Equipment And Supplies Wholesalers Machinery, Equipment, And Supplies Wholesalers Miscellaneous Durable Goods Wholesalers 11.2. Global Durable Goods Wholesalers Market, Segmentation By Ownership, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion Wholesale/Distribution Chain Independent Wholesalers 11.3. Global Durable Goods Wholesalers Market, Segmentation By Price Range, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion Premium Mid-Range Economy 12. Durable Goods Wholesalers Market Metrics 12.1. Durable Goods Wholesalers Market Size, Percentage Of GDP, 2016-2026, Global 12.2. Per Capita Average Durable Goods Wholesalers Market Expenditure, 2016-2026, Global Companies Mentioned Brueder Mannesmann AG Tech Data Walmart Inc. Wuchan Zhongda Group Lowe's Companies Inc. Ferguson plc. Sysco Corp. Xiamen C&D Arrow Electronics WPG Holdings Source: Business Wire Jul 18, 2022: Walmart Improves Online Spanish Search Function Jeniece Drake on Jul. 18, 2022 Walmart is improving the Spanish-language search capabilities on its website to better serve its growing base of Hispanic and Latino customers, as it works toward the goal of launching a "full, end-to-end universal Spanish experience in the future," the retail giant announced last week. The percentage of the U.S. population that identifies as Hispanic or Latino is predicted to grow to 28% by 2060, up from 18% today, Walmart said in a statement. "We serve all of America, so it's only natural we should prioritize improving Spanish search functionality," the retailer said. The company noted that prior to 2020, many consumers, including Spanish-speaking consumers, came inside Walmart stores to shop. But the pandemic changed that behavior, sending in-store shoppers online. At the height of the pandemic, Spanish queries on the Walmart app and Walmart.com soared to more than five times pre-pandemic levels, the company said, signaling a need for "a Spanish-first online shopping experience." This month, Walmart began expanding on the search translation feature it built last year on its website and app. The feature "uses natural language processing to detect language, discern nuances and translate queries to deliver a seamless, intuitive experience for customers," Walmart said. In the upgraded functionality, shoppers can opt in or out of the translation feature. For example, a search for "leche," Spanish for "milk," will serve up items based on the English translation of the word. But, if a user opts out of that translation, they'll see items that include the Spanish word in the title, such as "dulce de leche," Walmart said. More than 600,000 frequently searched items can be translated, and the company said it is adding more every day. In addition, the company has plans to improve the experience for Spanish-speaking shoppers with the launch of predictive search and "continual personalization and contextualization," Walmart said. Source: Winsight Grocery Business Jul 18, 2022: Walmart to Hold Latest Wellness Day 07/18/2022 With the rollout of the latest Walmart Wellness Day on Saturday, July 23 from 10 a.m. to 2 p.m., the world's largest retailer is encouraging communities to pay attention to their health before school starts again. At events held across the country, customers can receive free glucose, cholesterol, BMI and blood pressure screenings as well as affordable immunizations such as tetanus, hepatitis, HPV and COVID-19 at 4,600-plus Walmart pharmacies nationwide. Select stores will also feature vision screenings. In addition to enabling communities to improve their health and remain on a healthy track, Walmart Wellness Day is also an opportunity for customers to learn about the retailer's health-and-wellness offerings and solutions from its pharmacists. "An exciting time of the year is approaching fast, and we look forward to offering these health-and-wellness resources for families as they gear up for school," noted Kevin Host, Walmart's SVP of pharmacy. "Wellness Day allows us to continue helping our communities live better and healthier through free screenings, affordable immunizations and other solutions. The back-to-school season is a busy one, and these are ways we hope to provide some easy, convenient options for our customers. Health care delivery is something we're always innovating through not just our pharmacies, but also through Walmart Health Virtual Care and Walmart Health Centers. Our goal is to offer care for our customers when and where they need it." Since 2014, Walmart pharmacies have presented Walmart Wellness Days, providing more than 4.7 million free health screenings for customers. Additionally, 4,000-plus Walmart stores are in medically underserved areas, making the retailer often the first stop for health care in these communities. The last Walmart Wellness Day took place this past April 23. Each week, approximately 230 million customers and members visit Walmart's more than 10,500 stores and numerous e-commerce websites under 46 banners in 24 countries. The company employs approximately 2.3 million associates worldwide. Walmart U.S. is No. 1 on The PG 100, Progressive Grocer's 2022 list of the top food and consumables retailers in North America, while Sam's Club ranks eighth. Source: Progressive Grocer Jul 18, 2022: Update: Local elected officials voice support for Walmart to go solar 7/18/2022 | Johanna Neumann Over the past two weeks, Environment America Research and Policy Center has circulated a sign-on letter urging Walmart to go solar to more than 1500 local elected officials across all 50 states and Washington, DC. This outreach is part of an ongoing initiative to urge Walmart to commit to installing solar on all viable roofs by 2035 as part of their commitment to 100% renewable energy. It's also an effort to educate local elected officials on the benefits that local rooftop solar can bring to their communities. Most of the local elected officials contacted represent communities with Walmart retail stores. Walmart is the nation's largest retailer and possesses by far the largest solar potential. Walmart has around 5,000 stores in the US and more than 783 million square feet of rooftop space - an area larger than Manhattan - and more than 8,974 gigawatt hours of annual rooftop solar potential, according to Environment America Research & Policy Center's report Solar on Superstores. That's enough electricity to power more than 842,000 homes. The wide, flat, unobstructed roofs and parking lots of Walmart and other big box stores are ideal for installing rooftop solar. In addition to the environmental benefits of renewable energy, installing solar panels on big box stores benefits communities directly-it cuts costs for consumers and, when paired with storage solutions, increases grid resiliency. Putting solar on superstores is a win for businesses, consumers, and the environment. Elected officials who have signed on have described the initiative as "a great way for superstores to support our local community" (Brian Baer, councilmember from Milford, Delaware) and an "opportunity to utilize existing open space to conserve and reduce costs" (Gloria Hausser, councilmember from Nashville, Tennessee). Others who have voiced their support for the project reason that "we need to utilize all large rooftop spaces for the creation of solar energy" (Rebecca Villegas, councilmember from Kailua Kona, Hawaii), and "clean energy such as solar will help us save our planet" (Patrick Furey, mayor of Torrance, California). Source: Environment Maine Jul 18, 2022: Halsey Announces Second Beauty Brand af94: Made-to-Play Makeup Launching Exclusively at Walmart July 25, 2022 Jul 18, 2022, 09:12 ET LOS ANGELES, July 18, 2022 /PRNewswire/ -- Ashley Frangipane, professionally known as Halsey, announces the release of their second beauty brand, af94, launching exclusively at Walmart on July 25th. The launch showcases a full color collection packed with innovation sparked by Halsey's imagination in categories of eye, lip, cheek and body. As a self-taught beauty expert and makeup artist, Halsey is often known for their transformative looks. Her passion and talent in both makeup artistry and creation of beauty products is symptomatic of their multifaceted nature, always bringing her from one project to the next, and eventually giving way to the birth of their next beauty line, af94. The new brand also features unique cosmetic accessories, like custom-designed face and body stickers for true makeup play. The artist-formulated products are all vivid in color, strong in performance, and priced for accessibility at $10 and under. Available exclusively at Walmart, af94 will be sold in approximately 2,900 doors across the country, as well as on Walmart.com. By co-developing the brand with af94's exclusive partner, Walmart, Halsey is excited to tap into a new consumer base where individuals will discover the brand's colorfully-curated collection in stores. "After listening to feedback received from fans and friends, I wanted to create another self-expressive line that was lower-priced with a wide reach," said Halsey, "which is why we are so excited to be launching this new collection with Walmart. I hope wearing this makeup, however that looks for you, inspires you to break beauty rules and color outside of the lines." Built with the ethos of formulating versatile makeup for everyone, the brand focus is on affordability, without compromising product, color and efficacy. af94 was developed for the Gen Z consumer and beauty novices alike. The 67 user-friendly products are aimed to inspire discovery, exploration and fun. "Walmart is committed to making beauty accessible for all of our customers and we are thrilled to be adding af94 to our growing lineup of affordable, inclusive and quality beauty products," said Creighton Kiper, merchandising VP for Beauty, Walmart U.S. "Our assortment reflects shoppers' evolving interests and we are proud to collaborate with Halsey, someone who has built a platform on inclusivity, to develop a brand that will resonate strongly with our customers." "I'll always remember being 15 years old and saving up to buy my first eyeliner. It was electric blue and a big purchase for me at the time, but the thrill of wearing such a bold color was worth every penny," said Halsey. "I created af94 so that anyone and everyone can chase that rush of standing out with bold makeup, but at an affordable price." The af94 name is an amalgamation of Halsey's initials (A.F.) and birth year (1994). Through its playful product names and shade mix of bright colors and moody neutrals, consumers will find a nostalgic nod to the 90's throughout the collection - a decade known for fearlessness, self-expression and living in the moment. The af94 starting lineup features 12 made-to-play products, ranging from velvety eyeshadow crayons (Shadowboxer), creamy matte lipsticks (Majorly Matte), multi-use cheek + lip tints (Playdate), biodegradable makeup remover wipes (Friendly Rewinder), colorful face + body stickers (Joystickers), and more. All af94 products are 100% vegan and cruelty-free, and cleanly-formulated. Long-lasting performance benefits and key skincare ingredients are also infused throughout the entire collection, and the shade range was specifically developed to complement all skin tones. All af94 products are exclusively available for purchase at Walmart, Walmart.com and af94.com. About af94: "Just be yourself." It sounds simple, but we know it's not. Figuring out who you are takes guts, so we're here to help shake things up. With all-day color built for self-expression, af94 was made to inspire an inner boldness in all of you. Packed with powerful pigments + skincare ingredients, this collection allows you to play, while ur skin can chill. But "rules"? We're not about those, so we leave the creative freedom up to you. So, come as ur messy, authentic, beautiful self (or whatever vibe ur feeling today) because skin is skin + makeup is for everyone. Let's show the world what u got. About Halsey Halsey has amassed more than 31 billion combined global streams to date, including more than 12.5 billion U.S. streams, and sold nearly 17 million adjusted album units worldwide. Her latest album, If I Can't Have Love, I Want Power, was released in August of 2021, was produced by Trent Reznor, and is now nominated for a Grammy. It follows the release of Manic, which debuted at No. 1 on Billboard's Top Current Albums chart. It was the first album of 2020 to be certified Platinum in the U.S. and attained Platinum certification in numerous other countries. Halsey continues to push creative boundaries, exerting an influence and impact beyond music. Her first book, I Would Leave Me If I Could: A Collection of Poetry, debuted on The New York Times Best Sellers list in November, 2020. Named as one of TIME's 100 Most Influential People of 2020, they have won over 20 awards, including an AMA, MTV VMA, GLAAD Award, the Songwriters Hall of Fame's Hal David Starlight Award and a CMT Music Award. Halsey recently introduced about-face, a multi-dimensional makeup line made for everyone. Halsey continues to speak up for important causes such as disenfranchised youth, women's rights, mental health and the LGBTQ community. Source: PR Newswire Jul 18, 2022: US is exporting inflation, and Federal Reserve hikes will make it worse July 18, 2022 22:16 IST For decades, US households bailed out the global economy when it needed a consumer of last resort. America's latest spending spree has come with a sting in the tail. Stuck at home in the pandemic, people all over the world bought more goods-TV sets, laptops, and exercise bikes, to name a few-at the expense of services such as hotel rooms and gym memberships. The shift was significantly bigger in the US than in other rich countries. It's been amplified by such retailers as Target Corp. and Walmart Inc., which piled even more stuff in their inventories than Americans wanted to buy. And since these goods are traded globally-with supplies constrained by Covid-19-US demand pushed up prices in other countries, too. In effect, the US has been exporting inflation during its pandemic rebound. That underscores a profound change in the global economy. In the pre-Covid world, goods were abundant and the challenge was finding buyers. In the new age of scarcity, that story has been flipped on its head. Now there are signs that American consumers are dialing it back as the Federal Reserve ratchets up interest rates to cool the economy and combat inflation. For the rest of the world, that may just create a different headache as the US switches to exporting inflation through another channel: the super-strong dollar. With rates in the US rising much faster than in the euro zone and Japan, the dollar is soaring. To be sure, consumer demand is just one cause of the worldwide spike in inflation-arguably not the main one even in the US, where Covid stimulus was largest. In Europe and elsewhere, energy and food costs are driving up inflation as Russia's invasion of Ukraine exacerbates pandemic-induced breakdowns in supply chains. Still, at least some of Europe's inflation is a trans-Atlantic import, says Holger Schmieding, chief economist at Berenberg Bank in London. "Not directly in the sense that we bought expensive things from the US," he says. "But in the sense that the US, and their large demand following the stimulus checks, contributed to supply bottlenecks around the world-and to higher prices." Since pandemic inflation took off last year, the US has had more of it than Europe. Lately the gap has narrowed, but that doesn't tell the whole story. The two economies may have similar rates of inflation, but they have different kinds, with major implications for how central banks can tackle the problem. Much of the distinction boils down to how big a share of price pressures is homegrown. The risk, he says, is that a widening gap in rates "fuels capital flight and sharper currency depreciation against the US dollar, adding even more inflation pressure." Source: Business Standard Jul 18, 2022: Walmart to officially launch expanded drone delivery program A new era in Walmart's last-mile delivery operations begins this week. On Thursday, July 21, Walmart and drone operator DroneUp are formally kicking off their delivery partnership in a public event hosted at a Walmart store in Arkansas. This showcase will serve as an open house to formally launch DroneUp's flight services such as inspection, mapping and aerial imaging in the Northwest Arkansas market. The event will highlight all three hub locations operating from Walmart's store with drone demos. Walmart made an unspecified investment in DroneUp, a Virginia-based drone technology company that combines airspace solutions, software applications and analytics platforms, in June 2021. The discount giant currently offers drone deliveries from several stores near its headquarters in northwest Arkansas and in North Carolina. Walmart drone delivery takes flight Walmart is expanding its drone delivery service with DroneUp to 34 sites by the end of the year. The expansion will give Walmart the potential to reach 4 million U.S. households across six states - Arizona, Arkansas, Florida, Texas, Utah and Virginia - and the ability to deliver more than 1 million packages by drone in a year. From 8:00 a.m. to 8:00 p.m., customers who live within the range of a Walmart drone-delivery site can order from thousands of items, ranging from Tylenol to hot dog buns, for delivery by air in as little as 30 minutes. (The total order cannot exceed 10 pounds.) Each drone delivery comes with a $3.99 fee. The participating Walmart stores will house a DroneUp delivery hub that includes a team of certified pilots that will manage flight operations for deliveries. Once a customer places an order, the item is fulfilled from the store, packaged and loaded into the drone. The drone is then flown remotely by the pilot to the customer's yard or driveway. A cable on the drone lowers the package. Orders must be placed on DroneUp's website or through the websites of the two other operators. Walmart said it plans to eventually add the order-placing capability to its own website and app. "After completing hundreds of deliveries within a matter of months across our existing DroneUp hubs, we've seen firsthand how drones can offer customers a practical solution for getting certain items, fast," David Guggina, senior VP of innovation and automation, Walmart U.S., previously wrote in a blog on the company's website. "More importantly, we've seen a positive response from our customers that have used the service." The retailer initially thought that customers would use the service for emergency items. Instead, many are using it for convenience. At one store, for example, the top-selling item is Hamburger Helper. Guggina added in his blog post that as Walmart scales its drone infrastructure, the company will continue to influence the expansion of drone technology and enable other businesses to explore its benefits as well. Walmart Inc. operates more than 10,500 stores and clubs under 46 banners in 24 countries and e-commerce websites. Source: Chain Store Age Jul 18, 2022: Damaged gas line leads to Walmart closure VERNON TOWNSHIP - A gas leak at Walmart led to a brief store closure Sunday. The leak occurred when a piece of Walmart equipment damaged the store's "house" line, according to a National Fuel Gas Distribution Corp. spokeswoman. Repairs to the house line, the portion of a gas line on the customer's side of the meter, are the responsibility of the customer. In a post at 12:58 p.m., the social media account of the Meadville Walmart announced the store was closed "until further notice." No cause was given for the closure. In a follow-up post at 2:09 p.m., the store's Facebook page announced, "We are back open for business!" The message then offered thanks to fire department and National Fuel responders, as well as the Walmart employees at the store. A manager at the Meadville Walmart store declined to provide any information regarding the incident. "National Fuel responded, investigated and found no gas readings in the building," a National Fuel spokeswoman said in an email to The Meadville Tribune. Source: Meadville Tribune Jul 18, 2022: Walmart's EV deal blocks Amazon as rivalry expands July 18, 2022 Dive Brief: Electric vehicle startup Canoo is barred from entering into a deal with Amazon as part of its agreement with Walmart to supply the retail giant with at least 4,500 EVs, a regulatory filing last week showed. Canoo cannot design, manufacture or sell EVs to Amazon, and the company is also blocked from any deal that would transfer company control to the e-commerce giant. Any termination of the agreement, which lasts for five years, would end its exclusivity provision, according to the filing. Preventing Amazon from getting Canoo delivery vehicles is "a defensive maneuver" by Walmart to protect itself against a competitor, but it's unlikely to draw concern from the e-commerce giant, Rick Watson, founder and CEO of RMW Commerce Consulting, said in an interview. "Amazon is probably more amused than anything that Walmart seems to care so much about it." Dive Insight: EV manufacturers are being drawn into the orbit of Walmart and Amazon's continued rivalry. Both companies are looking to scale their logistics networks while advancing toward their sustainability goals, using different mixes of EV makers to get there. "As much as possible, we are seeking to electrify our last-mile offerings to customers," according to the climate change section of Walmart's ESG report, published April 6. Amazon has already made headway in its use of EVs. The company delivered more than 20 million packages using electric vehicles to customers in North America and Europe in 2020, according to its most recent sustainability report. It also has an EV order commitment that dwarfs Walmart's deal with Canoo. Amazon ordered 100,000 vans from Rivian to be delivered by 2030, and the e-commerce giant began testing the electric vans on delivery routes in cities last year. The deal with Rivian also hands sizable influence over to Amazon. Under the agreement, Rivian's last mile delivery vehicles will be available exclusively to Amazon for the four years following the first delivery, according to the startup's 10-K. Rivian also acknowledged that the relationship "may deter Amazon's competitors or other third parties from contracting with us." Walmart, meanwhile, has also reserved 5,000 BrightDrop electric delivery vans and ordered 1,100 Ford E-Transit all-electric vans. Relative to Walmart's 3,800 stores in the U.S., the retailer's Canoo order is "pretty small" and shows its use of EVs in deliveries remains in the experimentation stage, Watson said. Walmart could expand its EV fleet further if it exercises its option to purchase an additional 5,500 EVs from Canoo as outlined in the agreement. The deal also shows that Walmart plans to take a stake in Canoo via a warrant agreement - if Walmart exercises all its potential shares, it would own more than 20% of the company. Although restrictive, Walmart and Amazon's purchase agreements are a crucial lifeline for the startup EV makers as they attempt to stay afloat. Rivian posted a $4.7 billion net loss in 2021, while Canoo's net loss was $346.8 million. "In the logistics space startups typically have had a rough time and often get squeezed into tough deals," wrote Hanns-Christian Hanebeck, founder and CEO of freight management software company Truckl, on LinkedIn. "Obviously [Canoo's] entire future has been predicated on winning this one large customer who has an outsized amount of leverage in the relationship." Canoo deferred questions from Supply Chain Dive about the exclusivity provision to Walmart, which did not respond to a request for comment. Source: Supply Chain Dive Jul 17, 2022: Walmart orders 4,500 electric delivery vans BENTONVILLE - US retail giant Walmart has announced it is to purchase 4,500 new Canoo electric vehicles for 'last mile deliveries' to reduce the climate impact of its rapidly growing ecommerce business. The company has signed a definitive agreement with the high-tech mobility specialist to purchase the Canoo Lifestyle Delivery Vehicles (LDV), ahead of their release, with an option to buy up to 10,000 in total. Walmart will be the first company to take delivery of the new all-electric vehicles and anticipates it will be using them to deliver online orders next year as part of its goal to achieve zero-emissions by 2040. Source: Ecotextile News Jul 17, 2022: Hattiesburg Walmart on U.S. 49 closed until July 23 Jul. 17, 2022 at 9:23 PM GMT+5:30 HATTIESBURG, Miss. (WDAM) - Walmart officials said Sunday that the company's store off U.S. 49 in Hattiesburg is expected to be closed for the next seven days because of fire damage. No details were given as to the extent of the damage or the cause of the fire, but corporate officials said the store was shut down Sunday and "is expected to reopen July 23." A notice on Walmart's Facebook page said the closure would also include the store's pharmacy, but that "the store team is working diligently to return to normal operations." The notice suggested that Walmart stores on U.S. 98 and Petal be used during the closure. The full Walmart Facebook notice: "Your local Hattiesburg Walmart on HWY 49 will be closed till further notice. The nearby stores on HWY 98 and Petal are ready to serve you with your shopping needs. The Pharmacy department will also be closed, please refer to a neighboring Walmart for your RX needs. We apologize for any inconvenience this may have caused. The store team is working diligently to return to normal operations. Thank you so much for your patience!" Copyright 2022 WDAM. All rights reserved. Source: WLBT Jul 17, 2022: Walmart Inc. - Consensus Indicates Potential 20.9% Upside Charlotte Edwards July 17, 2022 8:24 pm Walmart Inc. with ticker code (WMT) now have 35 analysts in total covering the stock. The consensus rating is 'Buy'. The range between the high target price and low target price is between 180 and 130 with the average target price sitting at 154.59. Given that the stocks previous close was at 127.82 this now indicates there is a potential upside of 20.9%. The 50 day moving average now sits at 128.37 and the 200 moving average now moves to 140.05. The company has a market capitalisation of $353,800m. You can visit the company's website by visiting: https://www.stock.walmart.com Walmart Inc. engages in the operation of retail, wholesale, and other units worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications. The company offers grocery and consumables, which includes dairy, meat, bakery, deli, produce, dry, chilled or frozen packaged foods, alcoholic and nonalcoholic beverages, floral, snack foods, candy, other grocery items, health and beauty aids, paper goods, laundry and home care, baby care, pet supplies, and other consumable items; and health and wellness products covering pharmacy, over-the-counter drugs and other medical products, and optical and hearing services. It also provides gasoline stations and tobacco; home improvement, outdoor living, gardening, furniture, apparel, jewelry, tools and power equipment, housewares, toys, seasonal items, mattresses, and tire and battery centers; and consumer electronics and accessories, software, video games, office supplies, appliances, and third-party gift cards. In addition, the company offers fuel and financial services and related products, including money orders, prepaid cards, money transfers, and check cashing and bill payment, as well as various types of installment lending. It operates approximately 10,500 stores and various e-commerce websites under 46 banners in 24 countries. The company was formerly known as Wal-Mart Stores and changed its name to Walmart Inc. in February 2018. The company was founded in 1945 and is based in Bentonville, Arkansas. Source: DirectorsTalk Interviews Jul 17, 2022: WPP buys Brazil-based Corebiz to further digital commerce Alliance News18 July, 2022 | 7:13AM (Alliance News) - WPP PLC on Monday said it bought Sao Paulo, Brazil-based e-commerce agency Corebiz for an undisclosed sum. Corebiz employs around 600 people across Latin America and counts US retailer Walmart Inc, French sports retailer Decathlon SA and New York-based cosmetics firm Estee Lauder Co amongst its clients. "Over the last few years, we have actively participated in the acceleration of the ecommerce market in Latin America. Now, our goal is to take this expertise to the rest of the world," said Corebiz Co-Founders & Co-Chief Executive Officers Felipe Macedo and Renan Mota in a press release. The acquisition will strengthen the commerce "expertise" of London-based communications firm WPP, its country manager for Brazil, Stefano Zunino, said. WPP shares were 0.8% higher at 805.20 pence each in London on Monday morning. Source: Morningstar Jul 14, 2022: Walmart targets book lovers with latest livestream offering 07/14/2022 Walmart is connecting customers directly with authors as part of its newest livestream shopping effort. The discount giant is continuing the partnership it launched in February 2022 with Talkshoplive, a livestream shopping solution that enables consumers to interactively shop and make purchases within the video player on any embedded site. Walmart and Talkshoplive are collaborating with book distributor ReaderLink to launch the Walmart Live Book Club. Viewers of Walmart Live Book Club livestream events can interact with authors and directly purchase books. Upcoming Walmart Live Book Club authors and books include Colleen Hoover with "Verity" on August 25, as well as Erin Sterling with "The Kiss Curse" and Jennifer Lynne Barnes with "The Final Gambit" in September. Walmart and Talkshoplive initially began a trial period in 2021, which fully allowed the retailer to provide shoppable content through Talkshoplive's embeddable video player directly on Walmart.com/live, MSN shopping tab, and other product partner sites. Through the solution's proprietary video player, customers are able to purchase products within the video content, with a system that is embeddable on almost any site. Since hosting a successful holiday-themed shoppable livestream event on TikTok in December 2020, Walmart has tested numerous shoppable livestream events across multiple platforms. These have included multiple events hosted on the TikTok short video platform, as well as partnering with social/TV influencer Ree Drummond, also known as "Pioneer Woman," and her daughter Alex Scott to demo some of their favorite products from the Walmart-exclusive Pioneer Woman collection in a livestream shopping event on Facebook. And in June 2022, Walmart began collaborating with Roku Inc. to enable consumers to buy items with just a click on their Roku remote while streaming television programs. The partnership will combine product discovery with a "seamless" checkout experience, the companies said. [Read more: Walmart enters shoppable TV via exclusive deal with Roku] "As our programming with Walmart has expanded to include several weekly live shopping programs across multiple verticals, we are thrilled to continue connecting the retail landscape with our incredible partners at ReaderLink to launch the Walmart Live Book Club powered by Talkshoplive," said Bryan Moore, co-founder and CEO of Talkshoplive. "Books are one of our leading categories at Talkshoplive enabling authors to see monumental success in pre-order sales and continuing to move the needle for their New York Times chart position. By connecting authors directly to their fans in these interactive Talkshoplive experiences, Walmart once again leads with putting the customers first and providing an avenue for authors to move significant units while creating the best fan experiences around their book launches." "ReaderLink and Talkshoplive have been partners for many years and we have been amazed at the success authors have seen promoting their books on the platform. We are very excited about the launch of the Walmart Live Book Club and are certain it will drive sales and bring increased visibility to the overall book category at Walmart," said David Barker, executive VP and chief marketing officer of ReaderLink. Walmart Inc. operates more than 10,500 stores and clubs under 46 banners in 24 countries and e-commerce websites. Source: Chain Store Age Jul 14, 2022: Walmart Is Pulling This Product That Poses a "Risk of Head Injury" KALI COLEMAN JULY 14, 2022 Walmart sells millions of products to millions of shoppers every single day-so there's bound to be occasional issues along the way. But while most problems might be as simple as the quality not quite meeting your expectations, some items sold to consumers can actually be dangerous. This usually prompts a recall, which forces Walmart to remove the item from stores and notify shoppers who have already bought it. Now, the big-box retailer has pulled one product from its stores over a major safety issue. Read on to find out if you might have purchased this Walmart item that poses a "risk of head injury." With millions of products in its inventory, Walmart is no stranger to recalls. In Feb. 2022, more than a thousand infant walkers sold exclusively at Walmart were recalled for falling to meet federal safety standards, posing both falling and entrapment hazards for children. And in May, the retailer issued a nationwide recall of several supplements sold on its official website by a third-party seller over "potential hidden drug ingredients." On its website, Walmart says it is "committed to the health and safety" of its customers by providing safe products. "In the event of a product recall, we work swiftly to block the item from being sold and remove it from our stores and clubs," the retailer explains. Now, Walmart is applying that promise to a newly recalled product. Another Walmart product has just been cited for a potential hazard. On July 14, the U.S. Consumer Product Safety Commission (CPSC) announced that Sakar International Inc., of Edison, New Jersey, had just issued a recall on more than 12,600 helmets. According to the CPSC, the recall specifically involves the manufacturer's Tony Hawk Silver Metallic multi-purpose helmets. "The helmets are silver with black straps and a black buckle. Tony Hawk's signature is printed on the outside of the helmet," the agency noted, adding that the helmets also have a white warning label inside that lists the item number AGE2515STH-SIL in the top right corner. The Tony Hawk helmets from Sakar were sold exclusively at Walmart stores across the nation and on the retailer's website from March 2022 to June 2022 for around $30, according to the recall announcement. Officials warn that this product poses a "risk of head injury." While there have been no reported injuries connected to these Sakar helmets so far, the CPSC said that the recalled helmets "do not comply with the positional stability and retention system requirements" of the agency's federal safety standard for bicycle helmets. "The helmets can fail to protect in the event of a crash, posing a risk of head injury," the CPSC warned. Anyone who has a recalled helmet in their possession is instructed to immediately stop using it. They can also contact Sakar for instructions on returning the product in order to receive a $40 Walmart gift card as a refund. "Consumers should not return the helmet to Walmart and should contact Sakar for the gift card and to facilitate returns using prepaid postage packaging," the CPSC said, adding that, "Walmart will contact all known purchasers." According to the CPSC, these Tony Hawk Silver Metallic multi-purpose helmets were also given out as replacement helmets for Sakar's Dimensions Bluetooth Speaker Helmets, which were recalled on March 24, 2022. The bluetooth helmets were also sold exclusively at Walmart stores nationwide and through the retailer's website, but their initial sale date dates back all the way to July 2020. The CPSC said that these helmets were recalled for not complying with the federal safety standards for bicycle helmets as well-meaning they also pose a "risk of head injury in a fall." When they were first recalled in March 2022, the Tony Hawk helmets were offered as a replacement, but the agency updated its previous recall notice on June 16 to note that the remedy for Sakar's bluetooth speaker helmets had been changed from "replace" to "refund." "Sakar will contact consumers who received the replacement helmet as a remedy," the CPSC said in its July recall announcement for the Tony Hawk helmets. Source: Best Life Jul 14, 2022: 'I was so shocked': Louisville woman hits it big with Walmart LOUISVILLE, Ky. - Catrina Hill, owner of Catrina's Kitchen Southern Spices, has the seasoning for success. Hill started her business after she became sick and had to close her restaurant, "Dinner is Done" in Jeffersontown. Hill now sells all-purpose seasoned flour, fish and vegetable seasoning, and an all-purpose spice called "A Little Somethin' Somethin'". Sponsored by CONTRACT PHARMA Regulatory Considerations For Cell and Gene Therapies This ebook analyzes how to drive the industry toward optimizing regulatory considerations for cell and gene therapies. Learn More "People kept calling me. Even calling me while I was in the hospital. 'Can you make me some of your chicken seasoning so I can fry me some chicken? What is that, that you put in your greens?' She said. "I would laugh and tell them 'It's a little somethin somethin.'" The Louisville native was one of the many business owners from across the country who applied to pitch their products to Walmart and Sam's Club leaders. Walmart hosted its 9th Annual Open Call in Bentonville, Arkansas on June 30. More than 4,500 business owners applied this year, but only 330 got a golden ticket, and Hill was one of them. "I was so shocked. I was hitting my chest, hitting my chest! I couldn't breathe! I was just shocked, and amazed, and appreciative," she said. Hill said she prayed to one day see her seasonings and spices in Walmart. Now with her golden ticket, she will sell her products at Walmart stores and online at Walmart.com "I'm honored. I feel blessed to be one of the ones chosen to go into Walmart. I mean this is a big thing for me. And I wanted to leave a legacy for my family and this will help me do that," she said. Hill's products will be online in about two months and in stores in March. Source: WHAS11 Jul 14, 2022: Walmarts of the area to see renovations Jefferson, Watertown, Beaver Dam and Hartford are the area's Walmart stores that will see upgrades as part of the giant retailer's $150 million plan for an extensive remodeling of its outlets in Wisconsin. "Building on its commitment to the communities it serves, Walmart plans to invest an estimated $150 million this year in Wisconsin to update and remodel 28 local stores," the corporation announced Wednesday. "In addition to the local jobs the investment supports, these store transformations will create an updated experience for customers, including expanded shopping options to help people save time and money." When the stores are complete, Walmart representatives said, many remodeled stores will offer pick up, delivery and Express delivery, which are deliveries in less than two hours. "Our local stores have never been more important to the way we serve customers today and, in the future," said Shane Bourk, regional general manager of Walmart. "Nearly 90% of the U.S. population lives within 10 miles of a Walmart, so whether someone is shopping in-store, online, through mobile or pick up, our brick-and-mortar stores play a role in fulfilling those orders. These investments will make it easier for our stores and associates to get customers what they want, when they want it." In addition to expanding pickup and delivery options, the remodeling of local Walmarts is expected to provide new fixtures, LED lighting and flooring throughout each store for better line of sight and easier navigation; refreshed interiors and exteriors, including paint and signage; modern, remodeled bathrooms and added or refreshed mother's rooms for a clean, comfortable and private option for nursing mothers. Also planned are renovations of the front ends of store interiors that will include increased numbers of self-checkout lanes and manned registers for customer convenience, and expansion of departments. According to Walmart, with its 99 Supercenters, Neighborhood Markets and Sam's clubs in the state, Walmart employs more than 34,000 people. Wisconsin is also home to three Walmart Supply Chain distribution centers, including a newly expanded Regional Distribution Center in Menomonie and three transportation offices that employ thousands of local associates. In fiscal year 2022, Walmart said it also spent more than $3.9 billion with suppliers in the state and helped create more than 105,800 supplier jobs. Source: Daily Jefferson County Union Jul 14, 2022: U.S. shares mixed at close of trade; Dow Jones Industrial Average down 0.46% 2022-07-14 20:25 Investing.com - U.S. equities were mixed at the close on Thursday, as gains in the Technology, Utilities and Consumer Services sectors propelled shares higher while losses in the Basic Materials, Oil & Gas and Financials sectors led shares lower. At the close in NYSE, the Dow Jones Industrial Average declined 0.46%, while the S&P 500 index lost 0.30%, and the NASDAQ Composite index gained 0.03%. The biggest gainers of the session on the Dow Jones Industrial Average were Boeing Co (NYSE:BA), which rose 2.22% or 3.20 points to trade at 147.15 at the close. Apple Inc (NASDAQ:AAPL) added 2.05% or 2.98 points to end at 148.47 and Walmart Inc (NYSE:WMT) was up 1.95% or 2.45 points to 127.82 in late trade. Biggest losers included The Travelers Companies Inc (NYSE:TRV), which lost 4.68% or 7.64 points to trade at 155.68 in late trade. JPMorgan Chase & Co (NYSE:JPM) declined 3.49% or 3.91 points to end at 108.00 and Goldman Sachs Group Inc (NYSE:GS) shed 2.95% or 8.56 points to 281.59. The top performers on the S&P 500 were Qualcomm Incorporated (NASDAQ:QCOM) which rose 4.62% to 141.90, Costco Wholesale Corp (NASDAQ:COST) which was up 4.01% to settle at 511.94 and NXP Semiconductors NV (NASDAQ:NXPI) which gained 3.10% to close at 159.82. The worst performers were ConAgra Foods Inc (NYSE:CAG) which was down 7.25% to 33.15 in late trade, Caesars Entertainment Corporation (NASDAQ:CZR) which lost 7.21% to settle at 35.39 and Moderna Inc (NASDAQ:MRNA) which was down 6.61% to 159.92 at the close. The top performers on the NASDAQ Composite were Clene Inc. (NASDAQ:CLNN) which rose 43.40% to 4.13, Clever Leaves Holdings Inc (NASDAQ:CLVR) which was up 36.00% to settle at 1.36 and Canoo Inc (NASDAQ:GOEV) which gained 29.13% to close at 4.61. The worst performers were ContraFect Corp (NASDAQ:CFRX) which was down 83.11% to 0.48 in late trade, Nymox Pharmaceutical Corp (NASDAQ:NYMX) which lost 36.53% to settle at 0.22 and United Maritime Corp (NASDAQ:USEA) which was down 31.89% to 2.20 at the close. Declining stocks outnumbered rising ones by 2330 to 812 and 155 ended unchanged; on the Nasdaq Stock Exchange, 2509 fell and 1238 advanced, while 230 ended unchanged on the New York Stock Exchange. The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was down 1.57% to 26.40. In commodities trading, Gold Futures for August delivery was down 1.55% or 26.85 to $1,708.65 a troy ounce. Meanwhile, Crude oil for delivery in August rose 0.15% or 0.14 to hit $96.44 a barrel, while the September Brent oil contract rose 0.25% or 0.25 to trade at $99.82 a barrel. EUR/USD was unchanged 0.45% to 1.00, while USD/JPY rose 1.10% to 138.93. The US Dollar Index Futures was up 0.70% at 108.51. Source: Daily Jefferson County Union Jul 14, 2022: 'WARNING': Do not eat these mushrooms sold at Walmart and other stores due to large recall over fears they contain Listeria Thu., July 14, 2022 Certain mushrooms being pulled from the marketplace due to possible Listeria monocytogenes contamination, were sold at Walmart, the retail giant confirmed. Certain Enoki mushrooms (200 g, UPC # 8 807076 001496 and code 25 07 2022 AF009D) are being recalled and have been sold in British Columbia and Manitoba, and may have been distributed in other provinces and territories, the Canadian Food Inspection Agency (CFIA) said. Walmart has the product listed on its recall page. If you think you became sick from consuming a recalled product, contact your healthcare provider, the CFIA said July 12 in its "food recall warning." "Do not consume, serve, use, sell, or distribute recalled products," the CFIA said. "Recalled products should be thrown out or returned to the location where they were purchased." Food contaminated with Listeria monocytogenes may not look or smell spoiled but can still make you sick, the CFIA said. Symptoms can include vomiting, nausea, persistent fever, muscle aches, severe headache and neck stiffness. Pregnant women, the elderly and people with weakened immune systems are particularly at risk, the CFIA said. Although infected pregnant women may experience only mild, flu-like symptoms, the infection can lead to premature delivery, infection of the newborn or even stillbirth. In severe cases of illness, people may die, the CFIA warns. This recall was triggered by CFIA test results and there have been no reported illnesses. The CFIA is conducting a food safety investigation, which may lead to the recall of other products. The CFIA is verifying that industry is removing the recalled products, seen below, from the marketplace. Source: Toronto Star Jul 14, 2022: 6 Ways To Save 50% or More Shopping at Walmart Jul 14, 2022 Savvy shoppers are on the hunt for every strategy they can find that allows them to stay within their budgets while shopping at their favorite stores - including Walmart. See Our List: 100 Most Influential Money Experts And More: 13 Ways To Make $100 in Just a Day Shop Walmart's Thousands of Rollbacks Throughout the Year Longtime Walmart shoppers are familiar with Walmart's Rollbacks, where temporary price reductions are offered on items sold throughout the store. A Walmart spokesperson told GOBankingRates Walmart regularly offers Rollbacks on top of its everyday low prices to deliver even deeper savings for its customers. Right now, Walmart has active Rollbacks on thousands of products. Customers can find these savings in stores and online and save no matter how they choose to shop with Walmart. Sign Up for Walmart+ Signing up for Walmart+ gives customers a suite of benefits. Some of these include free delivery from stores, free shipping on Walmart.com purchases with no order minimum, use of mobile Scan & Go, fuel discounts of up to 10 cents per gallon and early and exclusive access to savings events and entertainment perks like six months of Spotify Premium for free. Walmart+ is often cited as one of the best ways to earn extra deals and savings for Walmart shoppers, but do you know how much you can save by signing up? At $98 a year, or $12.95 per month, investing in Walmart+ can save shoppers over $800+ a year with free delivery from stores, said the Walmart spokesperson. (Please note that restrictions apply. Free delivery is offered on $35 minimum order amounts and dollar savings are based on two deliveries per week versus the non-member $7.95 fee.) Buy Walmart's Private Brands From Great Value and Marketside private brands in the grocery department to Mainstays and No Boundaries in home goods and apparel, customers can find high-quality items across the store that won't break the bank. Walmart's private brands have a solid reputation of offering great quality and exceptional value, so customers don't have to compromise in order to save money. Take Advantage of Coupon Stacking Kristen Gall, retail and shopping expert at Rakuten, recommends practicing coupon stacking when shopping at Walmart. Coupon stacking, for those unfamiliar with the term, is the practice of applying multiple coupons - like a store coupon and manufacturer coupon - to a single product and receiving the greatest possible discount. "Before shopping, make sure you have your coupons in order and check out all of the deals available to ensure you are saving the most possible," said Gall. Score the Deepest Discounts During Walmart's Savings Events Save the date for Black Friday and other events like the recent Walmart+ Weekend event. These savings events offer deeper savings on top of the retailer's everyday low prices. Customers can get the best prices on the most sought-after items, including electronics, tech, home goods, toys, apparel and more. Sign Up for Walmart's Newsletters and Marketing Emails You never know when a surprise deal or promotion will be announced, so savvy shoppers stay in the know. Keep up with the latest savings at Walmart by signing up for their e-newsletters and marketing emails. "Typically, retailers send out larger marketing emails to allow customers who are signed up to be the first to know and draw buzz," said Gall. "Following Walmart on social media is also a great way to stay up to date on any sales or deals going on." Source: GOBankingRates Jul 14, 2022: Walmart to Begin Selling Biomerica's Aware(Registered) Breast Self Exam IRVINE, Calif., July 14, 2022 (GLOBE NEWSWIRE) -- Biomerica, Inc. (Nasdaq: BMRA) (the "Company") today announced that under a General Merchandise Supplier Agreement with Walmart, the Company's Aware(Registered) Breast Self Exam device will now be sold in Walmart's retail system. Biomerica has now shipped its first orders of the Aware(Registered) product to Walmart, and Walmart will initially begin selling the product through its online sales channel in the USA (https://www.walmart.com/ip/seort/395477102). Biomerica is also in the final phase of working with Walmart to stock and sell the Aware(Registered) product in Walmart stores in the U.S. Additionally, the Company is in negotiations with other partners for distribution of the Aware(Registered) Breast Self Exam product in markets outside of the U.S. Breast Cancer is the most common cancer among women. Unfortunately, every woman is potentially at risk, as over 70% of women diagnosed have no family history of breast cancer. Currently, there is no way to prevent breast cancer, so detecting the disease early is key to effective treatment. Early detection significantly improves the chances that breast cancer can diagnosed and treated successfully. Survival rates are as high as 99% when the cancer is found early and is still localized in the breast. However, if the cancer has spread to the regional lymph nodes, the 5-year survival rate is 86%. [1,2] About 80% of breast cancers are detected because women themselves notice changes in their breasts, highlighting the important role that each woman can play in her own health. However, a Breast Self Examination (BSE) is not a replacement for regular medical visits and periodic ultrasound or mammography. All three steps are important to finding breast cancer early. The relevance of early detection cannot be overemphasized. The Biomerica FDA cleared Aware(Registered) Breast Self Exam device is a revolutionary way for women to enhance tactile sensitivity to changes or irregularities in breast tissue, making breast self-exams easy and convenient. The Aware(Registered) device can facilitate an effective self-exam and can serve as a reminder to perform a breast self-exam every month. In a study performed by Kawasaki Medical University Hospital using the Aware(Registered) device, the study concluded that the Aware(Registered) device was "a highly effective instrument for the early detection of breast changes." The study included 832 patients with breast cancer, fibroma, mastitis and non-tumorous conditions. [3] Zack Irani, Chief Executive Officer of Biomerica, commented, "Successful treatment of breast cancer is significantly enhanced by early detection. Our unique product provides a tool to assist women in potentially detecting breast abnormalities early. As one of the largest retail corporations in the world, Walmart provides unmatched visibility and distribution for this potentially life-saving product. We look forward to supporting Walmart in the product roll-out, ensuring that as many women as possible have access to this product." For further information about the Aware(Registered) Breast Self Exam Product, please visit https://AwareBSE.com About Biomerica (NASDAQ: BMRA) Biomerica, Inc. (www.biomerica.com) is a global biomedical technology company that develops, patents, manufactures and markets advanced diagnostic and therapeutic products used at the point of care (in home and in physicians' offices) and in hospital/clinical laboratories for detection and/or treatment of medical conditions and diseases. The Company's products are designed to enhance the health and well-being of people, while reducing total healthcare costs. Biomerica's primarily focus is on gastrointestinal and inflammatory diseases where the Company has multiple diagnostic and therapeutic products in development. https://www.webmd.com/breast-cancer/guide/breast-cancer-survival-rates. Accessed 08 July 2022 https://www.cancer.net/cancer-types/breast-cancer/statistics. Accessed 08 July 2022 Sonoo H, Sai T, Maesaki S (1992) Breast self-examination (in Japanese). Geka (Surgery) 54:574-581. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Biomerica) contains statements that are forward-looking, such as statements relating to the efficacy of the Company's Aware(Registered) Breast Self Exam device and other tests, FDA clearance of the Company's products, possible online and/or in-store offering and sale of the Aware(Registered) Breast Self Exam device at Walmart and other potential distributors and retailers, the rapidity of testing results, negotiations with international distribution partners, uniqueness of the Company's products, test result accuracy of products, pricing of the Company's test kits, demand for domestic or international orders, potential revenues from the sale of current or future products, availability of the Company's Aware(Registered) Breast Self Exam device and other test kits, and patent protection on any of the Company's products or technologies. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, including, without limitation: results of studies testing the efficacy of the Company's tests and other products; regulatory approvals necessary prior to commercialization any of the Company's products; availability of the Company's test kits and other products; capacity, resource and other constraints on our suppliers; dependence on our third party manufacturers; dependence on international shipping carriers; governmental import/export regulations; demand for our various tests and other products; competition from other similar products and from competitors that have significantly more financial and other resources available to them; governmental virus control regulations that make it difficult or impossible for the company to maintain current operations; the Company's ability to comply with current and future regulations in the countries where our products are made and sold and the Company's ability to obtain patent protection on any aspects of its rapid test technologies. Accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of Biomerica. Additionally, potential risks and uncertainties include, among others, fluctuations in the Company's operating results due to its business model and expansion plans, downturns in international and or national economies, the Company's ability to raise additional capital, the competitive environment in which the Company will be competing, and the Company's dependence on strategic relationships. The Company is under no obligation to update any forward-looking statements after the date of this release. Source: GlobeNewswire Jul 13, 2022: Walmart expands e-commerce fulfillment infrastructure Walmart is opening a new fulfillment center dedicated to e-commerce and third-party marketplace orders. The discount giant is launching the new 1.8 million-sq.-ft. facility in Shippensburg, Penn. Originally announced in March 2022, the center will be used to store millions of items available at Walmart.com, that are then picked, packed and shipped directly to customers. The new state-of-the-art facility will also fulfill Marketplace items shipped by Walmart Fulfillment Services (WFS), Walmart's end-to-end fulfillment service for third-party e-commerce sellers. The facility is actively hiring workers, with a goal to hire up to 600 local full-time associates by the end of the year. Walmart adds supply chain capacity Unlike distribution centers, which are focused on receiving, storing, and distributing product to Walmart stores, the company's fulfillment centers are focused on storing millions of items that are picked, packed and shipped directly to customers as soon as the next day. The facility is part of a broader initiative to add more capacity into Walmart's supply chain as the retailer prepares for growth. Walmart has been ramping up its supply chain infrastructure, from expanding its successful pilot of store-based, high-tech "local fulfillment centers" to applying artificial intelligence to the palletizing of products in its regional distribution centers. More recently, the discount giant said it will fulfill online orders placed on Walmart.com from a hub in Salt Lake City, scheduled to open in summer 2022. The company also plans to build a high-tech distribution center for fresh and frozen groceries in Spartanburg County, S.C., as well as two high-tech supply chain hubs in the Dallas-Fort Worth area and a high-tech center in Lebanon, Tenn. where human associates, artificial intelligence (AI) software, and automated robots working together to ship orders to customers as efficiently as possible. Walmart has also begun using multi-temperature autonomous box trucks from Gatik to move online grocery orders from a fulfillment-only dark store to a nearby Walmart Neighborhood Market store in its headquarters city of Bentonville, Ark. In addition, Walmart has built a tech platform that powers its last-mile delivery ecosystem. Agnostic to supply and demand, and built around its own marketplace, the platform uses automation and machine learning to turn a near-infinite number of factors into usable data. "We are excited about the addition of this state-of-the-art fulfillment center and the increased shipping speed it will provide for our customers. Especially with the holiday season right around the corner," said Karisa Sprague, senior VP fulfillment network operations, Walmart U.S. "I'm proud of how our Shippensburg team has come together and is already playing an active role in the local community." "I look forward to seeing the positive impact this team and facility will have on the Southern Pennsylvania region and Walmart customers in the northeast," said Josh Michaliszyn, GM, Fulfillment Center #7380, Walmart U.S. "I'm so happy to be celebrating this incredible facility alongside members of our community and our associates who will play an important role in serving our customers." Headquartered in Bentonville, Ark., Walmart Inc. operates more than 10,500 stores and clubs under 46 banners in 24 countries and e-commerce websites. Source: Chain Store Age Jul 13, 2022: Walmarts of the area to see renovations Jefferson, Watertown, Beaver Dam and Hartford are the area's Walmart stores that will see upgrades as part of the giant retailer's $150 million plan for an extensive remodeling of its outlets in Wisconsin. "Building on its commitment to the communities it serves, Walmart plans to invest an estimated $150 million this year in Wisconsin to update and remodel 28 local stores," the corporation announced Wednesday. "In addition to the local jobs the investment supports, these store transformations will create an updated experience for customers, including expanded shopping options to help people save time and money." When the stores are complete, Walmart representatives said, many remodeled stores will offer pick up, delivery and Express delivery, which are deliveries in less than two hours. "Our local stores have never been more important to the way we serve customers today and, in the future," said Shane Bourk, regional general manager of Walmart. "Nearly 90% of the U.S. population lives within 10 miles of a Walmart, so whether someone is shopping in-store, online, through mobile or pick up, our brick-and-mortar stores play a role in fulfilling those orders. These investments will make it easier for our stores and associates to get customers what they want, when they want it." In addition to expanding pickup and delivery options, the remodeling of local Walmarts is expected to provide new fixtures, LED lighting and flooring throughout each store for better line of sight and easier navigation; refreshed interiors and exteriors, including paint and signage; modern, remodeled bathrooms and added or refreshed mother's rooms for a clean, comfortable and private option for nursing mothers. Also planned are renovations of the front ends of store interiors that will include increased numbers of self-checkout lanes and manned registers for customer convenience, and expansion of departments. According to Walmart, with its 99 Supercenters, Neighborhood Markets and Sam's clubs in the state, Walmart employs more than 34,000 people. Wisconsin is also home to three Walmart Supply Chain distribution centers, including a newly expanded Regional Distribution Center in Menomonie and three transportation offices that employ thousands of local associates. In fiscal year 2022, Walmart said it also spent more than $3.9 billion with suppliers in the state and helped create more than 105,800 supplier jobs. Source: Daily Jefferson County Union Jul 13, 2022: How Record Grocery Inflation Affects Costco, Walmart, Target When regular shoppers walk into a grocery store, higher prices are just the norm lately. It becomes second nature. And while frequent shoppers know they're paying more, some new research shows exactly how much. Record grocery inflation has been reported by Numerator, including a high of +15.1% in June, almost double what it was at the beginning of the year. Beverages are seeing the impact of this inflation the most. Other products like frozen meat (+28%), milk & milk substitutes (+17%), poultry (+25%) and chips (+26%) are greatly affected by this inflation. How will this effect businesses and companies who thrive off of food and beverage consumption? Which Chains Benefit From Higher Prices Businesses that tend to sell higher priced goods are less attractive to a buyer who is in need of cheap and quick items. When prices are higher, people on a budget (which is really most people) have a couple of options. They can trade down -- maybe get skirt steak instead of filet, Brawny paper towels instead of Bounty -- or they can shop someplace with cheaper prices. This is where cheaper businesses come in. Grocery inflation is especially good for companies like Costco (COST) - Get Costco Wholesale Corporation Report, Walmart (WMT) - Get Walmart Inc. Report, Target (TGT) - Get Target Corporation Report, and Dollar General (DG) - Get Dollar General Corporation Report. As prices continue to rise for beverages, companies with initiatives to sell cheaper items ooze optimism as consumers flock over. These chains may see more customers, but their stock prices have not all followed the same trajectory. Dollar General, for example, is up just over 4.48% year-to-date while Costco is down 14.48% (as of mid-day July 13 and year-to-date). Walmart (which owns Sam's Club) is down 14.31% and Target is down 38.17% (as of mid-day July 13 and year-to-date). Source: TheStreet Jul 13, 2022: Canoo stock doubles as Walmart orders up to 10,000 EVs in deal that includes warranted shares in company [update] Jul. 13th 2022 10:40 am PT EV startup Canoo continues to feverishly lay the railroad down right in front of itself as it chugs along its route toward scaled production. A recent feeling of dread has been encapsulated by the company's low stock, but new life has been injected into Canoo in the form of an order of at least 4,500 delivery EVs from Walmart, with the possibility of up to 10,000 in total. July 13 update: Upon inspection of Canoo's official 8-K filing with the SEC, there is some fine print we were unaware of when news of the purchase agreement went live yesterday. According to the terms of the EV purchase agreement, a Warrant Issuance Agreement was also included, giving Walmart the option to exercise the purchase of of 61,160,011 shares of fully paid and non-assessable shares of the Canoo's common stock at a price of $2.15 per share. Per the filing: The Warrant has a term of ten years and is vested immediately with respect to 15,290,003 shares of Common Stock. Thereafter, subject to the stockholder approval described below, if applicable, the Warrant will vest quarterly in amounts proportionate with the net revenue realized by the Company and its affiliates from transactions with Walmart or its affiliates under the EV Fleet Purchase Agreement or enabled by any other agreement between the Company and Walmart, and any net revenue attributable to any products or services offered by Walmart or its affiliates related to the Company or its affiliates, until such net revenue equals $300 million, at which time the Warrant will have vested fully. Under the Warrant Agreement, the Company shall, as promptly as reasonably practicable following the date of the Warrant Agreement and, in any event, no later than the Company's 2023 annual meeting of stockholders, convene and hold a meeting of stockholders to consider and vote on the issuance of the Warrant in respect of any shares of Common Stock in excess of 53,852,492 shares (which represents more than 20% of the Company's outstanding Common Stock as of the date of the Warrant Agreement), pursuant to the applicable rules of the NASDAQ Global Select Market. In the event that stockholder approval is not obtained, in lieu of any shares which would have been issued to Walmart, the Company is required to pay to Walmart an amount in cash equal to the product of: (i) the excess of (x) the 30-day volume weighted average price per share as of the day immediately preceding the applicable exercise date and (y) the exercise price, times (ii) the number of shares that would have been issued at such applicable exercise date if stockholder approval had been obtained. Should it exercise its warrants, Walmart can receive common stock equal to 20% of the company, a possible hint that Canoo was running out of options when it made the deal. Neither company has offered a comment on this agreement, nor has Walmart exercised its warranted shares yet. We also noticed that under the terms of the purchase agreement with Walmart, Canoo must refrain from any business whatsoever with Amazon or its subsidiaries. Understandable. See below: Under the EV Fleet Purchase Agreement, the Company has agreed that, for the duration of the agreement, it will not enter into any agreement for any services involving the design, manufacture, consult, advice, lease, or sale of EVs to, or issue any equity, equity-linked or debt securities of any type, or enter into any agreement for the purpose of transferring control of the Company to, Amazon.com, Inc., its subsidiaries, or affiliates. Canoo finds a new savior in Walmart Canoo ($GOEV) is an EV startup founded in 2017 by two former employees of Faraday Future. The automaker has several EV concepts it has been working to bring to production, including a multi-purpose delivery van, and the Canoo Pickup Truck. The first EV Canoo has been planning to launch is the Lifestyle Vehicle - the EV that caught the public's attention when the company debuted. A modified version of the Canoo LV was chosen to transport future astronauts on the Artemis Missions to the launch pad under a contract recently awarded by NASA. Shortly thereafter, we shared news that Canoo had filed lawsuit filed to recoup $61 million in "short swing" profits allegedly made by DD Global Holdings - Canoo's second largest shareholder behind CEO Tony Aquila. That same day, Canoo released a less than optimistic Q1 report that included a net loss of $125 million. Based on Q2 expense projections and funding timings, the company expressed "substantial doubt" about its ability to continue. Stock tumbled and things got more quiet than usual in the Canoo press room until Walmart stepped in. Walmart to order up to 10,000 Canoo electric LDVs Canoo shared the exciting news in a press release this morning, outlining some of the terms of its new definitive agreement signed by Walmart. To begin, Walmart has agreed to purchase at least 4,500 EVs from Canoo, beginning with the Lifestyle Delivery Vehicle (LDV) you see above. Here are some specs: Utilizes true steer by wire technology, reducing cabin intrusion and adding interior space Solo seat offers better driver ergonomics and panoramic window improves road visibility 120 cubic feet of fully customizable cargo volume 1,543 lb payload capacity DC fast charging 20-80% in 28 minutes ADAS Level 2 200+ miles of range Rear cargo light The agreement also includes an option for Walmart to purchase up to 10,000 EVs from Canoo, part of the former's strategy to reach zero-emissions across its deliveries by 2040. In addition to its fulfillment centers, Walmart uses 3,800 of its brick-and-mortar locations to fulfill and deliver online orders. Those locations are located within 10 miles of 90% of the US population. Before today, Canoo's stock had settled at a price even Walmart couldn't match. Following today's news, $GOEV stock jolted up, briefly passing $5 a share before settling around $4.30. The market cap remains about $1 billion. Canoo investor, chairman, and CEO Tony Aquila spoke about the Walmart purchase: We are proud to have been selected by Walmart, one of the most sophisticated buyers in the world, to provide our high-tech, all-electric, American made Lifestyle Delivery Vehicle to add to their impressive logistics capabilities. Our LDV has the turning radius of a small passenger vehicle on a parking friendly, compact footprint, yet the payload and cargo space of a commercial delivery vehicle. This is the winning algorithm to seriously compete in the last mile delivery race, globally. Walmart's massive store footprint provides a strategic advantage in today's growing 'Need it now' mindset and an unmatched opportunity for growing EV demand, especially at today's gas prices. The Walmart-branded LDVs are expected to hit roads around the US in 2023, but Canoo said it will begin advanced deliveries to Dallas in the coming weeks, so the retail giant can finalize its EV configurations. Electrek's Take Canoo continues its "fly by the seat of our pants" approach to business and seemingly will live to see several more days (and dare I say production?) thanks to Walmart. Tony Aquila has stated in previous interviews that he prefers not to have a surplus of funding because the "do or die" approach fuels innovation. I can see how some level of financial cushion could lead to a degree of complacency, but I'd prefer a guaranteed future rather than a wheel and deal approach every single day. All criticism aside, this could be a big win for both parties. The LDV is perfect for clean, last-mile service and will offer plenty of cargo space for Walmart's diaper and fruit snack orders. One key factor missing here is money. I'd be interested to know what Walmart is paying, and how far those funds will get Canoo as it looks to begin LDV production at the end of the year. Where do they go beyond that? I personally want to see that MPDV reach production. We will have to see, but it's nice to still have Canoo around. Source: Electrek Jul 13, 2022: Walmart's deal with EV startup Canoo comes with strings that includes not selling to Amazon July 13, 2022 8:02 PM GMT+5:30 Walmart Inc.'s deal backing an electric-vehicle startup has some strings, including a provision preventing sales to rival Amazon. The retail giant's agreement to purchase as many as 10,000 battery-powered vans from Canoo Inc. provides a lifeline for the fledging auto manufacturer, and Canoo shares surged more than 50% on the news Tuesday. The caveat blocking sales to Amazon was disclosed in a securities filing on Wednesday. The language says that for the duration of the pact, Canoo "will not enter into any agreement for any services involving the design, manufacture, consult, advice, lease, or sale of EVs to, or issue any equity, equity-linked or debt securities of any type, or enter into any agreement for the purpose of transferring control of the Company to, Amazon.com, Inc., its subsidiaries, or affiliates." The document also indicated that Walmart's purchase order is non-binding. Amazon already has an agreement with another EV startup, Rivian Automotive Inc., to buy as many as 100,000 electric vans that gives it priority over all other potential customers. In striking a similar deal with Canoo, albeit for a fraction of the volumes, Walmart is betting a competing technology wins out in the emerging business for battery-powered delivery fleets. It has also placed an order for EVs with established automaker General Motors Co. Like Amazon's equity investment in Rivian for a nearly 18% stake, Walmart also has an option to take a position in Canoo. The startup has granted Walmart a warrant to buy up to 61.2 million shares over a 10-year period at an exercise price of $2.15 a share-and vesting it immediately with 15.3 million common shares, the filing said. Canoo shares pared an early drop of as much as 3.3% to trade down 0.6% to $3.61 as of 9:45 a.m. in New York. The stock is down about 53% this year. The Walmart project begins with an order for 4,500 vans, with an option for up to 10,000. Canoo recently moved its headquarters to Walmart's hometown of Bentonville, Arkansas, and had warned in May of substantial doubt about its ability to continue as a going concern. Source: Fortune Jul 12, 2022: Walmart to buy Canoo electric vehicles Walmart Inc. said Tuesday it has agreed to buy 4,500 electric vans from manufacturer Canoo to deliver online orders in a way that's environmentally sustainable. Canoo Inc. said in a news release that it expects to start making its Lifestyle Delivery Vehicles toward year's end at its U.S. manufacturing plant in the MidAmerica Industrial Park in Pryor, Okla. The vans are expected to start making deliveries for Walmart in 2023. A Walmart spokeswoman said the company "hasn't shared any information about which markets will be the first to receive the new vehicles." However, she said Walmart will conduct deliveries in the Dallas-Fort Worth area in coming weeks "to ensure the way we've configured the vehicle interiors meets the needs of our associate delivery drivers." The deal includes an option for Walmart to buy up to 10,000 of the all-electric vehicles. Neither company said how much Walmart will pay for the vehicles, but Canoo said in a May earnings call that its pod-like Lifestyle Vehicles would have a targeted price of $34,750 to $49,950. Canoo's Lifestyle Delivery Vehicles will help Walmart keep expanding its last-mile delivery fleet in a sustainable way, said David Guggina, senior vice president of innovation and automation for Walmart U.S. ADVERTISEMENT One of Walmart's sustainability goals is to run a zero-emissions freight and delivery fleet by 2040. The retailer said in January that it was buying 5,000 electric delivery vans from General Motors subsidiary BrightDrop. These vehicles are also expected to hit the road for Walmart next year. Walmart said at the time that it planned to use the BrightDrop vans as part of its InHome delivery service, in which Walmart employees deliver fresh groceries and everyday essentials directly to customers' refrigerators. Canoo's Lifestyle Delivery Vehicles are engineered for high-frequency stop-and-go deliveries and speedy vehicle-to-door dropoff, the company said. Besides delivering online orders from groceries to general merchandise, Canoo said, the vehicles could potentially be used for Walmart GoLocal, the retailer's delivery-as-a-service business. Canoo has said since November that it is moving its headquarters and some of its production to Walmart's hometown of Bentonville. However, Canoo has yet to reveal the address or size of the Bentonville facility. A Canoo spokesman said the company provides updates about manufacturing in its quarterly earnings calls. Canoo's first-quarter statement this year said it leased an "industrialization facility" in Bentonville on Feb. 1, but no address is given. Source: The Arkansas Democrat-Gazette Jul 12, 2022: Walmart Signs Contract With Canoo To Revolutionize Home Delivery: How The Retail Giant Plans On Beating Amazon July 12, 2022 6:04 PM Full-time options trader Nic Chahine is helping thousands of new traders maneuver the current markets by sending two high-conviction trade signals every single month straight to your inbox and SMS. Click Here Now to See His Next Alert! The world's largest retailer Walmart, Inc. WMT +0.02% + Free Alerts has committed to purchasing 4,500 Canoo, Inc. GOEV + Free Alerts electric delivery vans, according to Teslarati. What Happened: On July 12, Walmart announced its partnership with Canoo. The EV maker's 4,500 Lifestyle Delivery Vehicles (LDV) will hopefully hit the road officially for Walmart by 2023. By the fourth quarter of 2022, LDVs will begin to be delivered to the Dallas-Fort Worth metroplex area where the vehicles will undergo configuration and refinement before hitting the road. The retail giant plans on beginning operations with its online grocery and general merchandise orders and could expand the company's Walmart GoLocal program. If Walmart and its customers are happy with the new vehicles, the partnership contract lists an expansion clause in which the company could expand its fleet to 10,000 LDVs. Why It's Important: This new partnership will allow Walmart to significantly improve its one-day delivery service for users. LDVs will allow for cheaper and faster delivery as they can charge quickly and eliminates the cost of gasoline, which keeps rising. to see which company can provide the best delivery service for customers. This new partnership could push Walmart ahead of the online retail behemoth. Also Read: How Has Amazon Performed This Past Year With New CEO Andy Jassy At The Helm? The new partnership could also benefit both parties by increasing public awareness of Canoo's EVs and Walmart's delivery service. Source: Benzinga Jul 12, 2022: Pre-Open Movers: Canoo Jumps on Walmart Deal, American Express Falls on Downgrade Jul 12, 2022 09:16 Canoo Inc. (GOEV) 75% HIGHER; Walmart (NYSE:WMT) agreed to purchase 4,500 all-electric vehicles, with the option to purchase up to 10,000. Aldeyra Therapeutics, Inc. (Nasdaq: NASDAQ:ALDX) 5% HIGHER; announced the achievement of the primary endpoints in a sequence-randomized, double-masked, vehicle-controlled crossover clinical trial of 0.25% reproxalap ophthalmic solution, an investigational new drug candidate, for the treatment of dry eye disease. Reproxalap was statistically superior to vehicle for each of the two prespecified primary endpoints, ocular redness in a dry eye chamber (P=0.0004) and Schirmer test (P=0.0005), a measure of tear production, after a single day of dosing. The secondary endpoint of Schirmer test 10 mm responder analysis, which was multiplicity-controlled, was also achieved (P=0.0361). American Express (NYSE:AXP) 3% LOWER; Morgan Stanley (NYSE:MS) downgraded from Overweight to Equalweight with a price target of $143.00 (from $223.00). Herbalife (NYSE:HLF) 3% HIGHER; Jefferies upgraded from Hold to Buy with a price target of $26.00. STORE Capital (STOR) 2% LOWER; Morgan Stanley downgraded from Equalweight to Underweight with a price target of $25.00 (from $35.00). Southwest (LUV) 2% HIGHER; Susquehanna upgraded from Neutral to Positive with a price target of $45.00. PepsiCo (NASDAQ:PEP) 1% HIGHER; reported Q2 EPS of $1.86, $0.12 better than the analyst estimate of $1.74. Revenue for the quarter came in at $20.23 billion versus the consensus estimate of $19.51 billion. PepsiCo sees FY2022 EPS of $6.63, versus the consensus of $6.66. The Company now expects to deliver 10 percent organic revenue growth (versus our previous guidance of 8 percent) for fiscal year 2022. GameStop Corp. (NYSE:GME) 1% HIGHER; announced that it has launched its non-fungible token ("NFT") marketplace to allow gamers, creators, collectors and other community members to buy, sell and trade NFTs. Source: Investing.com Jul 12, 2022: Walmart To Purchase 4,500 Canoo Electric Delivery Vehicles To Be Used for Last Mile Deliveries in Support of Its Growing eCommerce Business July 12, 2022 BENTONVILLE, Ark., July 12, 2022 - Walmart (NYSE: WMT) has signed a definitive agreement with Canoo (NASDAQ: GOEV), a high-tech advanced mobility company, to purchase 4,500 all-electric delivery vehicles, beginning with the Lifestyle Delivery Vehicle (LDV), with the option to purchase up to 10,000 units. The vehicles will be used to deliver online orders in a sustainable way which will also contribute to Walmart's goal to achieve zero-emissions by 2040. While the LDV is expected to begin hitting the road in 2023, the companies plan to kick off advanced deliveries to refine and finalize vehicle configuration in the Dallas-Fort Worth metroplex in the coming weeks. The LDV: Engineered for sustainable last mile deliveries with improved driver ergonomics and safety Canoo's fully electric Lifestyle Delivery Vehicle (LDV) is an all-American commercial EV optimized for sustainable last mile delivery use cases. As with all Canoo vehicles, the LDV is built on a proprietary multi-purpose platform (MPP) architecture that integrates the motors, battery module and other critical driving components. The LDV has a last mile delivery optimized cabin and customized cargo space. Canoo is utilizing true steer by wire technology, reducing moving parts and cabin intrusion, resulting in more usable interior space, better driver ergonomics and the addition of a panoramic window to improve road visibility. The LDV is engineered for high frequency stop-and-go deliveries and speedy vehicle to door drop-off, including grocery and food/meal delivery. Its customized interior is designed for small package delivery, at competitive per stop economics. The modular design and 120 cubic feet cargo volume are adaptable to evolve with customer needs which contributes to a decreasing per unit investment over time. "We are proud to have been selected by Walmart, one of the most sophisticated buyers in the world, to provide our high-tech, all-electric, American made Lifestyle Delivery Vehicle to add to their impressive logistics capabilities. Our LDV has the turning radius of a small passenger vehicle on a parking friendly, compact footprint, yet the payload and cargo space of a commercial delivery vehicle. This is the winning algorithm to seriously compete in the last mile delivery race, globally," said Tony Aquila, investor, chairman and CEO of Canoo. "Walmart's massive store footprint provides a strategic advantage in today's growing 'Need it now' mindset and an unmatched opportunity for growing EV demand, especially at today's gas prices." Expanding Walmart's last mile delivery fleet Canoo's electric vehicles will be driven by Walmart associates and used to deliver online orders, from groceries to general merchandise, as well as the potential to be used for Walmart GoLocal, the retailer's delivery-as-a-service business. "We're thrilled to continue diversifying our last mile delivery fleet with Canoo's unique and sustainably focused all-electric technology which will provide our associates with safe, ergonomic delivery vehicles," said David Guggina, senior vice president of innovation and automation, Walmart U.S. "Today, the closest Walmart to customers is right in their pockets - it's the Walmart app. By continuing to expand our last mile delivery fleet in a sustainable way, we're able to provide customers and Walmart+ members with even more access to same-day deliveries while keeping costs low." In addition to dedicated fulfillment centers, Walmart uses 3,800 of its stores, which are located within 10 miles of 90% of the U.S. population, to fulfill online orders. The retailer does this using a combination of Walmart associates, independent contractors driving on the Spark Driver Network, third-party delivery service providers, and in some locations, autonomous vehicles and drones, to make deliveries. Through their expansive last mile delivery network, Walmart can reach 80% of the U.S. population with same-day delivery on a growing assortment of items. Collaborating close to home Canoo's agreement with Walmart builds on the company's existing commitments in the state of Arkansas. Last year Canoo announced it had selected Bentonville, Arkansas, as its headquarters and Pryor, Oklahoma, as the site for its U.S. manufacturing, further establishing an EV ecosystem in the heartland to create thousands of technology and manufacturing jobs in the surrounding communities. "We're encouraged that by being located in close proximity to the Canoo headquarters, we have the advantage to collaborate and innovate in real-time as well as the opportunity to aid in the creation of manufacturing and technology jobs here in our home state of Arkansas," added Guggina. Canoo anticipates starting production of the Lifestyle Delivery Vehicles beginning in Q4, 2022. Source: Walmart Inc. Jul 12, 2022: Walmart Likes This Company's Technology So Much It Became a Shareholder Jul 11, 2022 at 8:01AM Revolutionary warehouse automation technology from Symbotic offers investors a unique long term growth opportunity. Whether it be due to labor shortages, clogged ports, high fuel costs, or simply challenges in managing warehouse inventories, disruptions to global supply chains are an increasing source of consumer frustration. These disruptions are also costing U.S. companies billions of dollars. As a result, retailers around the world are scrambling to find more efficient ways of getting products onto their shelves. In its first quarter 2022 earnings conference call, Walmart (WMT 0.04%) Chief Financial Officer Brett Biggs said "the first quarter was one of the most challenging periods yet related to supply chain disruptions, increased costs and persistently high inflation." Necessity is the mother of invention Enter Symbotic (SYM 10.72%), a leading supplier of warehouse automation. The company has developed cutting edge robotics and technologies that help Walmart and other large retailers address these challenges. While it may not be a household name in the investing community, millions of households buy products that have been either manufactured or distributed by Symbotic's management team. Symbotic's warehouse automation solution is an intricate system of robots, racks, and miniature autonomous forklifts, all coordinated by artificial intelligence software. The workhorse of the system is the Symbot, a driverless vehicle that looks like a mix between a go-kart and a forklift. After products arrive by truck at a customer's distribution center, they are removed from the pallets and sorted by AI-powered robots. A network of Symbots then efficiently collect, distribute, and store the products throughout the warehouse. Robots carrying boxes in a warehouse IMAGE SOURCE: GETTY IMAGES. Symbotic software coordinates this entire process, saving labor cost, increasing the pace of inventory flow, and maximizing warehouse and trailer storage space. The software also reacts quickly to inputs from store inventory managers, allowing the managers to get products that are in high demand onto shelves more rapidly. The end result is faster inventory turns, fewer product shortages, and ultimately, more satisfied customers. Can the Symbotic system revolutionize warehouse automation? According to Joe Metzger, Executive Vice President of US Supply Chain Operations at Walmart, the Symbotic system is "a game changer." Metzger and Walmart management were so impressed with Symbotic that they signed an agreement to implement the Symbotic system in all of Walmart's 42 distribution centers. Additionally, Walmart has provided Symbotic with capital to fund the company's rapid expansion and currently holds 14% of Symbotic outstanding shares. Symbotic is currently providing its warehouse management systems to Walmart, Albertsons Companies Inc (ACI -1.19%), and C&S Wholesale Grocers (the multi-billion dollar parent company to Piggly Wiggly, Grocers Supply, and Grand Union.) Committed orders from these customers are expected to provide the company with years of rapid growth. While Symbotic only serves the grocery and general merchandise industries right now, management has the long term vision to add warehouse management solutions for companies in additional industries such as apparel, home improvement, and auto parts. Additionally, new Symbotic global investor Softbank (SFTBF -2.48%) will likely be instrumental in helping the company extend its warehouse management solutions to leading retailers around the world. This extended runway of potential rapid growth has been one of the hallmarks of many top performing stocks over the long term. Symbotic shares started trading publicly on June 7, 2022 after completing its merger with a special purpose acquisition corporation (SPAC). After combining the additional funds raised in the SPAC merger transactions with the company's cash pre-merger, Symbotic now has nearly $450 million in capital to fund management's aggressive growth plans for years to come. A bumpy road Symbotic shares have been volatile post-merger, due in large part, to the limited number of shares trading publicly. The share price shot up wildly to $20 (over double the SPAC merger reference price) after short term traders misinterpreted an SEC filing detailing Walmart's pre-merger ownership position. After retracing almost all of this post-merger surge, the stock has since bounced back to the $16 range. Potential investors should expect continued volatility as more company shares become registered to trade publicly over the coming weeks and months. Savvy investors might see opportunity in such volatility, especially if the stock once again approaches the price Walmart and Softbank paid for their most recent Symbotic share purchases. With a current market cap of just over $8 billion, Symbotic trades at a rich 11 times management's sales expectations for 2023. The company is on a rapid growth trajectory, however, as management expects revenue growth of 106% in 2022 and 92% in 2023. Margins are also expected to expand over the coming years due to economies of scale. Walmart and Softbank bought shares. Should you? Given the company's tremendous long term growth opportunity to improve the operating efficiency of the world's largest retailers, Symbotic shares may hold appeal to patient investors. According to Vikas J. Parekh, Managing Partner at SoftBank Investment Advisors, "We believe Symbotic is at the forefront of a more than $350 billion market opportunity to reinvent warehouse automation and reshape the global supply chain." Of this opportunity, the company has already booked $11 billion in committed orders which bodes well for sustainable growth through 2023 and beyond. With a massive total addressable market, "game changing" technology, proven management team, and strong current billing and operating trends, Symbotic checks many of the boxes investors should look for in promising long term growth opportunities. Should you invest $1,000 in Symbotic Inc. right now? Before you consider Symbotic Inc., you'll want to hear this. Our award-winning analyst team just revealed what they believe are the 10 best stocks for investors to buy right now. and Symbotic Inc. wasn't one of them. The online investing service they've run for two decades, Motley Fool Stock Advisor, has beaten the stock market by 3X.* And right now, they think there are 10 stocks that are better buys. Source: The Motley Fool Jul 12, 2022: Seven sections never to spend your money in at Walmart - the store's secret cash traps revealed 0:01, 12 Jul 2022 EXPERTS have revealed seven "money traps" at Walmart and sections of the store you may want to avoid shopping in during your next trip. The so-called "secret cash traps" encourage customers to spend more money than they originally intended, experts say. In an article for GoBankingRates, author Jordan Rosenfeld lays out why not all of the deals you come across at Walmart are "good" deals. Some psychology tactics apparently have been used in marketing to encourage you to spend more money at stores. BAKERIES The smell of baked goods is one way the retail giant reportedly draws people in. While all Walmart stores don't include a bakery, the ones that do usually strategically place them in the front of the store. "Stores that include a bakery up front are more likely to draw customers in with their delectable smells and the emotional connections that brings," the American Baker's Association said. BIGGER CARTS Walmart's shopping carts are apparently larger than an average grocery cart, stimulating customers to spend more money. If a customer sees a good deal on big-sized items that can fit into their shopping cart, they are more inclined to buy it, according to Mashed. 'EVERYDAY LOW PRICES' Walmart is known for its "Everyday Low Prices" and they don't want their customers to forget it. Mashed reported that stores can have as many as 100 signs advertising their "Everyday Low Prices." By seeing this promotion, customers will eventually connect the idea of low-priced items to Walmart. POPULAR ITEMS Walmart reportedly intentionally puts popular items in the back of their stores to drive foot traffic. While each store is different, one store could be as big as 260,000 square feet, according to 24/7 Wall Street. The more you walk around the store, the more inclined you are to purchase something. ROLLBACK PRICES The quick sale, known as a rollback, offers short-lived discounts on items for customers. Customers shouldn't assume that items with a rollback sign will be on sale for a long time, so buying them at a lower price is recommended instead of waiting. 'ACTION ALLEY' Walmart reportedly utilizes the "Action Alley" strategy, which involves a wide aisle-shaped big square across the store, with specific locations that house many low-priced items. The retail giant attempted to get rid of these areas due to customer complaints about clutter but reportedly saw sales dip, according to the GoBankingRates article. The company now utilizes the marketing tactic in high-traffic areas. LAST-MINUTE NEEDS The article also claims that Walmart uses the "last-minute needs" ideal to its advantage. Walmart is known for putting "impulse buy" items at the cash registers, according to Business Insider. Items like candy, small toys, and magazines can be found there and customers apparently realize they "need" them just prior to checkout. Source: The Sun Jul 12, 2022: NJ WALMART STORES TARGETED WITH BOMB THREATS July 12, 2022 Shoppers were hurried out of at least two Walmart stores in New Jersey following separate bomb threats at each location. The first call came in to the Walmart in East Brunswick around lunchtime Monday afternoon. Police responded and evacuated all shoppers and staff. In a press release, East Brunswick Police say they brought in bomb sniffing dogs to search the entire store. Police say nothing suspicious was found, and the all-clear was given a couple hours later. The East Brunswick store was reopened around 3 p.m. A separate threat was made against the Walmart in the Watchung Square Mall Monday Morning, according to News 12. That store was also evacuated and searched before the threat was deemed a hoax. TAPintoRaritan Bay reported another threat was made against the Walmart in Secaucus. Walmart stores have been the target in a series of bomb threats being made across the country in recent weeks. Police were called to locations in Hermitage, PA, and Avon, CT, in the last three weeks. Source: New Jersey 101.5 Jul 12, 2022: Walmart Is Weaning Itself Off of Big Tech July 12, 2022 at 4:15 PM GMT+5:30 Walmart has its own cloud. But first Today's must-reads: Bitcoin miners in Texas brace for an energy shortage BNPL provider Klarna saw its valuation slashed by $39 billion Sequoia Capital is feeling the pain of holding public stocks Walcloud Walmart Inc. is no longer dependent on the cloud, at least not entirely. Rather than only renting computing power and storage from the likes of Alphabet Inc.'s Google and Microsoft Corp., the retailer said it spent the last couple of years investing in a massive network of 10,000 "edge nodes," basically in-house devices and servers that can handle processing locally. This may sound like a throwback to the old days of mainframes and on-site data centers, before that sort of infrastructure started getting centralized in the mid-2000s. But this so-called hybrid approach is part of Walmart's aim to reduce its reliance on outside cloud providers and prove there's an alternative model to Amazon Web Services, which just happens to be owned by Walmart's chief retail competitor. It wasn't that long ago that cloud services were heralded for their potential cost savings, but as big bills keep piling up, some high-spending customers are hunting for alternatives. As the Wall Street Journal reported, Walmart's new, multi-cloud structure enables it to "switch seamlessly" between Google's and Microsoft's web-based services and its proprietary servers. Walmart said the system has saved as much as 18% annually on overall cloud expenditures and mitigates the potential for outages. Seemingly every cloud player is chasing the hybrid model, seeing it as a lucrative way to sell more of their subscription services as well as what's called "on-premise" infrastructure. That's especially appealing to companies wanting to keep at least some of their data and applications at their own facilities, rather than in the hands of cloud giants, which are at times their competitors-one reason why Walmart has avoided using AWS and has suggested its vendors do the same. The hybrid trend has sparked an arms race over which tech companies can deliver the strongest "edge" machines at the farthest reaches of the world. Last month, Amazon.com Inc. touted how it had sent one of its Snowcone edge devices to space. "There is no more harsh, remote or rugged environment or unforgiving, quite frankly, than the space environment," said Clint Crosier, AWS's director of aerospace and satellite solutions. Walmart, by contrast, is betting that it can build and maintain its own server network, instead of merely depending on third parties. Some observers have noted that this could prove to be a risky bet, requiring expensive upkeep with a fraction of the engineering resources that big tech has. It also seems likely the system will be so customized for Walmart's needs that it would be difficult to repurpose and market it for external consumption, akin to what Amazon did with AWS. All that's to say, don't expect to see a Walmart Web Services anytime soon. A Walmart spokesperson said the company does not disclose a breakdown of its cloud costs, making it hard even to assess whether other companies could afford to bring a similar server farm online. "Building and managing a hybrid cloud, especially with a lot of edge nodes, is not easy," the spokesperson said. "This modern cloud platform is something we have chosen to invest in because our scale, our strong in-house tech capabilities and the benefits to our omnichannel business justify the complexity of the effort." No word yet on when Walmart's edge devices, which now dot its retail stores and distribution hubs, are going to space. The big story Twitter's stock tumbled as Elon Musk tries to back out of a deal to acquire the social media company. Twitter is now gearing up for a legal fight in Delaware. (Why Delaware, you ask?) What else you need to know Liquidators can't find the founders of the bankrupt crypto hedge fund Three Arrows Capital. Their whereabouts are unknown. Financial analysts are anticipating a tumultuous quarterly earnings season, with much riding on disclosures from tech companies. Russia is looking to punish expats who criticize the war on their social media pages. Source: Bloomberg.com Jul 12, 2022: Sweeping Walmart Changes Announced For the Duration of 2022 Author's Note This article is based on corporate postings and accredited media reports. Linked information within this article is attributed to the following outlets: Wikipedia.org, ScrapeHero.com, BestLifeOnline.com, and EatThis.com. Introduction Wikipedia features a comprehensive overview of the Walmart corporation: Walmart Inc. is an American multinational retail corporation that operates a chain of hypermarkets (also called supercenters), discount department stores, and grocery stores from the United States, headquartered in Bentonville, Arkansas. The company was founded by Sam Walton in nearby Rogers, Arkansas in 1962 and incorporated under Delaware General Corporation Law on October 31, 1969. It also owns and operates Sam's Club retail warehouses. As of April 30, 2022, Walmart has 10,585 stores and clubs in 24 countries, operating under 46 different names. For a further (and still more current) breakdown, ScrapeHero.com states: There are 4,661 Walmart locations in the United States as of June 13, 2022. The state with the most number of Walmart locations in the US is Texas, with 516 locations, which is 11% of all Walmart locations in America. Walmart has confronted its share of hardships over the years, many of which may well have caused other such companies to close shop. The Wikipedia page above includes a list of various company legal challenges that at times have substantially impacted the super-chain's reputation and bottom line. And yet, the entity has always recovered, and changes were implemented each time moving forward. For more Walmart business-related articles of mine published on NewsBreak, which in part addressed reasons for company-mandated change, see here for "List of Walmart Location Closings in 2022," and here for "Walmart-Owned Sam's Club Implements Sweeping 2022 Changes." Indeed, Walmart today finds itself, yet again, in the midst of substantive changes. Let us explore further. Walmart Changes, 2022 According to a June, 2022 article from BestLifeOnline.com, "If You Shop at Walmart, Prepare for These Major Changes Starting in July," present business alterations include: Hundreds of Walmart stores are getting a makeover, and thousands are getting a new brand (Bubble Skin Care). The Walmart app will have new capabilities, such as Augmented Reality (AR) functions, increased product availability, and measures to appeal to a more diverse and inclusive customer base. Improved store technology will become a priority. As quoted from a BestLifeOnline.com companion piece, "Walmart Is Making This Unprecedented Change for All Shoppers": Walmart is now gearing up to roll out what is being described as a "first-of-its-kind" change-for any company. According to an announcement released June 16, the big-box retailer is partnering with the popular video streaming company Roku in an initiative to "make TV streaming the next e-commerce shopping destination." Through the partnership, consumers will be able purchased products directly on Roku, and these orders will get fulfilled by Walmart, which is serving as the "exclusive retailer" for the program. Though published by EatThis.com in February, "Walmart is Making These 5 Major Changes Right Now" lists still more company-wide changes that continue to take place, such as increased store interactivity and upgrades to their produce section. Conclusion Walmart will continue to change its business model, as well as its workplace and consumer culture, effectively to maintain its leadership position as one of the globe's top revenue generators. To remain there, the company has historically tweaked its inner workings to both keep up with the times and lead the way in providing service to its consumers. As with most other like businesses, improvement of the entity's bottom line is key. How to get there is strategic. The company has seen is share of difficulties over the years; it has not only survived, but thrived in large part due to its continued flexibility. Source: NewsBreak Original Jul 11, 2022: Walmart Is Weaning Itself Off of Big Tech Walmart has its own cloud. But first Today's must-reads: Bitcoin miners in Texas brace for an energy shortage BNPL provider Klarna saw its valuation slashed by $39 billion Sequoia Capital is feeling the pain of holding public stocks Walcloud Walmart Inc. is no longer dependent on the cloud, at least not entirely. Rather than only renting computing power and storage from the likes of Alphabet Inc.'s Google and Microsoft Corp., the retailer said it spent the last couple of years investing in a massive network of 10,000 "edge nodes," basically in-house devices and servers that can handle processing locally. This may sound like a throwback to the old days of mainframes and on-site data centers, before that sort of infrastructure started getting centralized in the mid-2000s. But this so-called hybrid approach is part of Walmart's aim to reduce its reliance on outside cloud providers and prove there's an alternative model to Amazon Web Services, which just happens to be owned by Walmart's chief retail competitor. It wasn't that long ago that cloud services were heralded for their potential cost savings, but as big bills keep piling up, some high-spending customers are hunting for alternatives. As the Wall Street Journal reported, Walmart's new, multi-cloud structure enables it to "switch seamlessly" between Google's and Microsoft's web-based services and its proprietary servers. Walmart said the system has saved as much as 18% annually on overall cloud expenditures and mitigates the potential for outages. Seemingly every cloud player is chasing the hybrid model, seeing it as a lucrative way to sell more of their subscription services as well as what's called "on-premise" infrastructure. That's especially appealing to companies wanting to keep at least some of their data and applications at their own facilities, rather than in the hands of cloud giants, which are at times their competitors-one reason why Walmart has avoided using AWS and has suggested its vendors do the same. The hybrid trend has sparked an arms race over which tech companies can deliver the strongest "edge" machines at the farthest reaches of the world. Last month, Amazon.com Inc. touted how it had sent one of its Snowcone edge devices to space. "There is no more harsh, remote or rugged environment or unforgiving, quite frankly, than the space environment," said Clint Crosier, AWS's director of aerospace and satellite solutions. Walmart, by contrast, is betting that it can build and maintain its own server network, instead of merely depending on third parties. Some observers have noted that this could prove to be a risky bet, requiring expensive upkeep with a fraction of the engineering resources that big tech has. It also seems likely the system will be so customized for Walmart's needs that it would be difficult to repurpose and market it for external consumption, akin to what Amazon did with AWS. All that's to say, don't expect to see a Walmart Web Services anytime soon. A Walmart spokesperson said the company does not disclose a breakdown of its cloud costs, making it hard even to assess whether other companies could afford to bring a similar server farm online. "Building and managing a hybrid cloud, especially with a lot of edge nodes, is not easy," the spokesperson said. "This modern cloud platform is something we have chosen to invest in because our scale, our strong in-house tech capabilities and the benefits to our omnichannel business justify the complexity of the effort." No word yet on when Walmart's edge devices, which now dot its retail stores and distribution hubs, are going to space. The big story Twitter's stock tumbled as Elon Musk tries to back out of a deal to acquire the social media company. Twitter is now gearing up for a legal fight in Delaware. (Why Delaware, you ask?) What else you need to know Liquidators can't find the founders of the bankrupt crypto hedge fund Three Arrows Capital. Their whereabouts are unknown. Financial analysts are anticipating a tumultuous quarterly earnings season, with much riding on disclosures from tech companies. Russia is looking to punish expats who criticize the war on their social media pages. Source: Bloomberg.com Jul 11, 2022: Gap CEO Syngal fired for failing to rescue struggling retailer Gap Inc. fired Chief Executive Officer Sonia Syngal after 2 1/2 years, with rising costs and deepening discounts threatening to wipe out this quarter's operating profit. Chairman Bob Martin is taking over immediately as CEO on an interim basis, the company announced in a statement. The company's stock has been battered by operational missteps -- including a clumsy implementation of expanded women's sizes at Old Navy that has caused inventory levels to swell just as demand may have crested. Gap already announced the departure of Old Navy's top executive earlier this year. Gap shares sank as much as 4.1% in late trading before paring the decline. The shares are down 50% this year, compared with a 30% drop for the S&P 500 Retailing Index. Back in early 2020, it was Syngal, now 52, who stepped in to replace a CEO who abruptly departed amid operational problems. Predecessor Art Peck left after a scrapped plan to spin off Old Navy and failing to reignite sales growth. Syngal had been the head of Old Navy, which generates more than half of the company's revenue. Syngal's departure further reduces women's representation at the top of US public companies. There are currently 33 women leading companies in the S&P 500 Index, according to Bloomberg Data. Gap was removed from the index at the start of the year. After taking over in March 2020, Syngal immediately had to navigate mandatory store shutdowns and the sudden shifts in demand caused by Covid-19. She oversaw the expedited implementation of curbside pickup and the expansion of e-commerce operations -- moves that investors applauded. She was unable to keep up the momentum, however. The company as a whole appears to be struggling to capitalize on rapid changes in apparel trends as offices reopen and consumers move away from comfortable clothes, such as sportswear, in favor of work attire. Gap's upscale Banana Republic chain was a standout last quarter, but that wasn't enough to counter weakness at the other divisions. Additionally, a deal to produce apparel with Kanye West's Yeezy brand has failed to generate meaningful results. After announcing the project with fanfare, Gap executives have been mostly quiet on the issue. Ill-Timed Missteps The company's missteps are ill-timed as the retail industry gears up for back-to-school season, one of the biggest shopping times of the year. "As a family brand, this has a compound halo effect. When we aren't delivering for moms, she's less likely to come to Old Navy for her kids," Syngal said during the company's latest earnings call. Gap, which also operates Athleta in addition to its namesake brand, expects $50 million of air-freight charges and other costs that will offset operating profit in the fiscal second quarter. The company sees Old Navy as the key driver behind its plan to reach $10 billion in sales by 2023. Old Navy added more plus-size women's apparel to expand appeal -- but the move backfired when its size assortment was imbalanced, with too many of some sizes in stock and not enough of others. That led to cuts in orders for the third quarter. Gap expects its operating margin percentage to be zero to slightly negative in the second quarter. The announcement followed a previous reduction in its profit outlook. The retailer expects to get through its glut of inventory with steep discounts, which will weigh on profits. "Old Navy was going in the wrong direction and that can't happen because it's so critical to the overall business," said Morningstar analyst David Swartz. "It's clear that some the strategies that Syngal herself was a proponent of had failed, like the extended sizes." The apparel retailer also hired Horacio "Haio" Barbeito as the new CEO of Old Navy. Barbeito will join Gap after a 26-year career at Walmart Inc., where he most recently served as CEO of the retail giant's operations in Canada, its largest foreign market except for Mexico. Before that, he led Walmart's business in Argentina and Chile. Source: Hindustan Times Jul 11, 2022: Why Is Everyone Talking About Walmart Stock? JUL 11, 2022 7:57AM EDT The coronavirus pandemic has led to a tragic loss of life worldwide. A lesser secondary consequence has been that it has disrupted supply chains everywhere. Fewer people are willing to work at prevailing wages when a deadly virus is in circulation. Those working sometimes get sent home for over a week during outbreaks of COVID-19 in their workplace. As a result, the supply of goods and services has decreased. Simultaneously, consumer demand has been resilient as fiscal stimulus has buoyed people's wallets and fueled spending. Walmart (NYSE: WMT) is experiencing both sides of those macroeconomic forces. Spending at stores is increasing, but rising costs are hurting its profit margin. To counter the pressure on margins, Walmart announced on July 5 that it would impose a collect pickup charge on its network of suppliers. Let's consider what that could mean for investors. Walmart shifts the burden of inflation to suppliers The surcharge comes after Walmart lowered its full-year profit outlook in its quarterly update on May 17. Previously, the company had forecast earnings per share for its fiscal 2023 would increase by mid-single digits. Walmart lowered that guidance to say earnings per share would decrease by roughly 1% in fiscal 2023. The significant turnaround was a result of the speed of rising inflation. Walmart is the largest retailer in the world, with operations in several countries. It has seen rising inflation in other parts of the world, but management noted the spike of inflation in the U.S. was unprecedented in terms of speed and magnitude. Indeed, the consumer price index in the U.S., which measures a basket of goods, rose by 8.6% in May. Therefore, it's not surprising to see Walmart exert its negotiating power with suppliers and raise prices. The move, if suppliers don't retaliate by leaving Walmart, could go a long way toward protecting Walmart's profit margin while keeping its low-price commitment to customers. In other words, Walmart wants suppliers to absorb a more significant share of the negative impacts of rising inflation. Many other retailers have opted to raise prices that customers pay instead, likely in part because they do not carry the negotiation power that Walmart does. In its most recently completed fiscal year, Walmart generated a whopping $572 billion in revenue. Surpassing $500 billion in revenue is something Walmart has achieved in each of its last five fiscal years. That gives the company negotiating clout among suppliers who want to participate in its ability to command large-scale consumer spending. What this could mean for Walmart investors If successful, this move could remind investors of Walmart's massive scale benefits. While competitors are forced to either absorb higher costs or pass them along to their customers, Walmart has a third choice: to force suppliers to take the hit. That could attract customers to Walmart who are turned off by price increases from competitors. Regardless, investors will want to monitor the impacts of this decision over the next few quarters. 10 stocks we like better than Walmart Inc. When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now. and Walmart Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. Source: Nasdaq Jul 11, 2022: Here's every store running competing Prime Day sales: Shop the best deals from Target, Best Buy, Walmart and more Amazon Prime Day 2022 starts tomorrow, July 12, and a number of stores competing with Prime Day are offering up their own massive sales. Some of the best competing Prime Day sales are happening now at Target, Samsung and Best Buy, with other major retailers like Walmart expected to follow soon. There's more where this deal came from. Sign up for Reviewed's Perks and Rec newsletter and we'll keep 'em coming every Sunday through Friday. Target's Deal Days started today, July 11, and run until Wednesday, July 13. You can shop competitive deals on some of the best products we've ever tested in our labs, including the KitchenAid standing mixer ($279.99, you save $170) and the Dyson V8 Motorhead ($329.99, you save $100). ►Amazon Prime Day 2022: Shop the 50+ best early Amazon deals today ►Nordstrom Anniversary sale 2022: The Anniversary sale is live for cardholders-shop 50+ deals on Spanx, Zella and Nike ►Amazon Prime Day deal: Get 2 months of Starz, Showtime for just $0.99 with this massive pre-Prime Day deal Best Buy's Black Friday in July sale runs today, July 11, through Wednesday, July 13. You can shop heavily discounted TVs, headphones, tablets, fitness trackers and Apple products-just make sure you price check against Target and Amazon, who are likely running similar discounts this week. From the major retailers to the mom-and-pop shops, here are all the best competing Prime Day sales to shop this week. Best Buy is offering doorbuster deals on TVs, laptops, major appliances, Apple devices, phones and more during its massive competing Prime Day sale. The deals run until Wednesday, July 13. Here are the best Best Buy deals to shop now: Google Nest Mini (2nd Generation) with Google Assistant for $29.99 (Save $20) JBL Under Armour Project Rock Wireless Over-the-Ear Headphones for $79.99 (Save $220) Whirlpool 5.1-Cubic Foot Freestanding Gas Range from $549.99 (Save $228 to $233) Sony 48-Inch Class BRAVIA A9S Series OLED 4K UHD Smart Android TV for $799.99 (Save $500) NordicTrack Commercial S15i Fitness Bike for $799.99 (Save $500) Source: USA Today Jul 10, 2022: Walmart, Target to sell Vancouver-based company's dog products Author: Christelle Koumoue (KGW) Published: 6:47 PM PDT July 10, 2022 Updated: 6:49 PM PDT July 10, 2022 VANCOUVER, Wash. - A dog product company that started in a Vancouver woman's basement 10 years ago will soon be selling products in some of the world's biggest retailers. Terri Entler is the founder, president and CEO of Healers PetCare. The idea for her company came out of a tough lesson, after she went hiking with her dog on a warm summer day. "Came back to the campground and every pad on every paw was burned off," she recalled. "We just had socks and duct tape. That's about all that was out there at the time." After that, she decided to come up with her own solution. Her company's first product was a set of booties with rubber pads that protect dogs' paws. "These booties are designed for healing. They breathe, they allow airflow, super easy to put on the paw and we have gauze and inserts that fit right inside. So it turns into a bandage," said Entler. She consulted a Nike shoe designer to help develop her products and ran her company out of her basement until she was able to move into a warehouse in Vancouver. After a decade of hard work, Entler said they're finally getting some traction. This year, the company won a "golden ticket" for Walmart's Open Call event, which gives small business owners and entrepreneurs a chance to get their products in Walmart stores. More than 10,000 companies applied, and Healers PetCare was one of only about 300 companies that Walmart selected. Entler said her first product to hit Walmart shelves will be full-body therapeutic and anxiety wraps. "Pet parents are going back to work and now the pets are left at home, and so their anxiety is up," she said. Laura Klink with the Oregon Humane Society said she agrees that a lot of pets are dealing with anxiety right now, and some of the reasons may be pandemic-related, such as getting used to crowds or staying home alone again. "We've seen in many cases that having a T-shirt or some kind of wrap can really provide a little bit of comfort," said Klink. Entler said it might be a while before the wraps makes in to Walmart stores as her company works through the supply chain. However, she said Target has decided to pick up her original product -- the healing booties. She said they will be available in 1,400 Target stores starting next month. "If you believe in what you're doing, believe in your product, and there's a market for it, you just have to keep plugging away and plugging away," she said. Source: KGW Jul 08, 2022: Walmart Dumps Its 2022 Shopping Fest; Adopts Different Route Versus Amazon To Clear Excess Inventory July 8, 2022 7:54 AM Walmart Inc WMT + Free Alerts has dumped its shopping extravaganza for 2022 that overlapped with Amazon.com Inc AMZN + Free Alerts Prime Day, CNBC reports. Yet this year, much of Walmart's merchandise is already on sale. Bright yellow "Clearance" signs have become a fixture in many stores in recent weeks, and Walmart's website touted thousands of Rollbacks, a signature term for the discounter's 90-day price cuts, on bicycles, air fryers and more. Walmart's heavy discounting reflects miseries borne by retailers to clear excess merchandise even at the cost of its profits. The heavy discounts are forcing other retailers to follow suit. High markdowns at Walmart stores caused Oppenheimer to take the company off its list of top picks. Oppenheimer saw Walmart benefit from attracting more price-sensitive shoppers who seek low-priced groceries and essentials. However, upcoming quarters will get compared against the pandemic boom period and government stimulus. While Walmart bypassed the flashy marketing and short-term sales event, it assured great discounts for shoppers who hit its stores. Contrastingly, Amazon will host a second shopping event for Prime members in the fourth quarter. Online shopping, which surged amid the pandemic as activities got restricted indoors, has noted a significant correction upon recovery, further accelerated by the rising inflation. Price Action: WMT shares traded lower by 0.09% at $125.21 in the premarket on the last check Friday. Photo via Wikimedia Commons Source: Benzinga Jul 07, 2022: NJ Companies Chosen in Walmart's Open Call Event JUL 7, 2022 More than 1,100 businesses from across the country pitched their US-made products to Walmart and Sam's Club merchants at Walmart's ninth annual Open Call. Preliminary results indicate that more than 330 of those pitches resulted in a deal for businesses to sell their items to Walmart customers through placement on Walmart or Sam's Club shelves, online at Walmart.com or on Walmart's Marketplace. Additionally, business owners of more than 280 products are continuing conversations with merchants for potential deals in the future. A number of the products chosen were from New Jersey-based companies including: Brick-based Tempaper: Brick White Peel and Stick Wallpaper Union City-based PruTru: Washing Machine Cleaner Passaic-based HulyasShop: Premium Gingham Vinyl Tablecloth Passaic-based 3Forty: Boy's Savage Self Made Set Middlesex-based Fram Trak Industries: Plastell Dryer Static Remover Hawthorne-based Naturalvert: Naturalvert Organic, Vegan, GF granola single pack Orange-based Innovation LLC: URscent starter kit "Investing in US manufacturing is not only the right thing to do for the country's long-term economic health, it's the right thing to do for customers today who are dealing with historic inflation," said Doug McMillon, president and CEO of Walmart Inc. "We're excited that more and more great products at strong price points are being produced in the US. Our $350 billion investment in items made, grown or assembled in the US helps deliver our customers the goods they need, when they need them, at affordable prices, while supporting the creation of more than 750,000 jobs." In 2013, Walmart pledged to spend $250 billion over 10 years on products made, grown or assembled in the US, a milestone the company announced this week it has already reached. Last year, Walmart committed to invest an additional $350 billion on products made, grown or assembled in the US by 2031. In addition to one-on-one pitch meetings with Walmart and Sam's Club merchants, participants in this year's Open Call also heard directly from Walmart executives and merchants. Smaller breakout sessions were available for suppliers to learn more about valuable topics and resources available to them. "We've met so many amazing small business owners through Open Call over the years, and this year is no exception," said Scott Gutche, senior director, US Manufacturing. "From Catrina's Kitchen Southern Seasoned Flour to EZ-gro's Spicy Salad Mix, Microgreen Growing Kit, we're so excited about the new products and people that will be joining the Walmart supplier family." Open Call is Walmart's largest sourcing event and has been instrumental in helping the company achieve its initial $250 billion commitment. For the first time in Open Call history, Walmart offered an exclusive early-access period for existing Marketplace sellers to submit their applications. More than 4,500 entrepreneurs applied, and over 13,000 products were registered. This year, finalists representing all 50 states, including the District of Columbia, pitched their products for consideration through 30-minute one-on-one virtual and in-person meetings at Walmart's headquarters in Bentonville, Arkansas. Nearly 60% of all business owners invited to Open Call self-identify as a diverse-owned business. All businesses that took part in Open Call are eligible to sell their shelf-stable products on Walmart's various online platforms Walmart.com, Walmart Marketplace or Samsclub.com. Source: New Jersey Business Magazine Jul 07, 2022: Technical Analysis: Walmart trading Walmart Technical Analysis The technical analysis of the Walmart stock price chart on daily timeframe shows #S-WMT,Daily is rebounding toward the 200-day moving average MA(200) after hitting two-year low eight weeks ago. We believe the bullish momentum will resume after the price breaches above the upper Donchian bound at 126.15. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below the lower Donchian bound at 119.87. After placing the order, the stop loss is to be moved every day to the next fractal low, following Parabolic indicator signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (119.87) without reaching the order (126.15), we recommend cancelling the order: the market has undergone internal changes which were not taken into account. Fundamental Analysis of Stocks - Walmart Walmart announced it will start charging suppliers pickup and fuel fees. Will the Walmart stock price continue recovering? Walmart Inc is a United States based retail and wholesale giant which operates globally. Its market capitalization is $343 billion. The stock is trading at P/E ratio (Trailing Twelve Months) of 26.97 currently, company's revenue (ttm) was $576.0 billion, while the Return on Equity (ttm) was 15.53% and the Return on Assets (ttm) at 6.31%. Walmart has announced it will charge some of its suppliers from next month new fees to transport goods to its warehouses and stores. A "collect pickup charge" calculated as a percentage of the cost of goods received and a fuel surcharge based on the cost of fuel to transport the goods will be charged to Walmart's "Valued Collect Suppliers." This May Walmart, the nation's largest retailer, cut its full-year profit outlook citing rising costs of labor and fuel with fuel costs, in particular, running over $160 million higher than it had anticipated. Source: FXStreet Jul 07, 2022: Top 10 Stocks to Buy in 2022 According to Motley Fool's 1623 Capital Hamna Asim Thu, July 7, 2022 at 12:48 AM In this article, we discuss the top 10 stocks to buy in 2022 according to Motley Fool's 1623 Capital. If you want to see more top stocks in the hedge fund's portfolio, check out Top 5 Stocks to Buy in 2022 According to Motley Fool's 1623 Capital. 1623 Capital was established in 2018 by Jeff Fischer and Brian Richards, the chief investment officer and chief operating officer of the hedge fund. 1623 Capital is a subsidiary of The Motley Fool. A fundamental long/short equity strategy is employed at 1623 Capital's Pro Fund. The hedge fund is based in Alexandria, Virginia, with discretionary assets under management of $310.5 million and a Q1 portfolio worth $199.5 million. The hedge fund invests in the transports, utilities and telecommunications, information technology, healthcare, finance, consumer staples, and communications sectors. Securities filings for Q1 2022 reveal that Motley Fool's 1623 Capital added 11 new stocks to its portfolio, made additional purchases in 13, sold out of 18 companies, and reduced holdings in 12 securities. 1623 Capital strengthened its hold on Dollar General Corporation (NYSE:DG), Visa Inc. (NYSE:V), and FedEx Corporation (NYSE:FDX). Whereas, the hedge fund sold out of Airbnb, Inc. (NASDAQ:ABNB), Meta Platforms, Inc. (NASDAQ:META), and Pinterest, Inc. (NYSE:PINS) in the March quarter. Some of the most notable stocks held by Motley Fool's 1623 Capital include Amazon.com, Inc. (NASDAQ:AMZN), Apple Inc. (NASDAQ:AAPL), and Block, Inc. (NYSE:SQ). Our Methodology We used the Q1 portfolio of Motley Fool's 1623 Capital for this analysis, selecting the hedge fund's top 10 holdings. The stocks are ranked according to 1623 Capital's stake value in each company. Top 10 Stocks to Buy in 2022 According to Motley Fool's 1623 Capital Top 10 Stocks to Buy in 2022 According to Motley Fool's 1623 Capital Photo by Austin Distel on Unsplash Top Stocks to Buy in 2022 According to Motley Fool's 1623 Capital 10. Broadridge Financial Solutions, Inc. (NYSE:BR) 1623 Capital's Stake Value: $7,318,000 Percentage of 1623 Capital's 13F portfolio: 3.66% Number of Hedge Fund Holders: 17 Broadridge Financial Solutions, Inc. (NYSE:BR) is a New York-based financial technology company that offers proxy statements, annual reports, and other financial data to public companies. Motley Fool's 1623 Capital owns 47,000 shares of Broadridge Financial Solutions, Inc. (NYSE:BR) as of Q1 2022, worth $7.3 million, representing 3.66% of the total 13F holdings. On May 12, Broadridge Financial Solutions, Inc. (NYSE:BR) declared a $0.64 per share quarterly dividend, in line with previous. The dividend was paid to shareholders on July 6. The company delivers a dividend yield of 1.75% as of July 5. On June 14, Wells Fargo disclosed its recession stock portfolio, and Broadridge Financial Solutions, Inc. (NYSE:BR) was part of its Info Tech ETF. According to Insider Monkey's database, 17 hedge funds were bullish on Broadridge Financial Solutions, Inc. (NYSE:BR) at the end of Q1 2022, with collective stakes worth $123.16 million. Dmitry Balyasny's Balyasny Asset Management is the leading position holder in the company, with 170,227 shares worth $26.50 million. Like Amazon.com, Inc. (NASDAQ:AMZN), Apple Inc. (NASDAQ:AAPL), and Block, Inc. (NYSE:SQ), Broadridge Financial Solutions, Inc. (NYSE:BR) is on the radar of elite investors. 9. ServiceNow, Inc. (NYSE:NOW) 1623 Capital's Stake Value: $8,409,000 Percentage of 1623 Capital's 13F portfolio: 4.21% Number of Hedge Fund Holders: 90 ServiceNow, Inc. (NYSE:NOW) is a California-based software company that specializes in cloud computing and IT service management. Credit Suisse analysts Sami Badri and George Engroff observed that back-office applications and front-office software would potentially see an increase in spending in 2026, compared to 2021 and 2022, which bodes well for ServiceNow, Inc. (NYSE:NOW). Stifel analyst Brad Reback on May 25 reiterated a Buy rating on ServiceNow, Inc. (NYSE:NOW) but lowered the price target on the shares to $550 from $650. The management updated its long-term model, raising the FY24 and FY26 subscription revenue goals by $1 billion each to $11 billion and $16 billion, respectively. The analyst added that ServiceNow, Inc. (NYSE:NOW) expects to achieve these growth targets organically. He sees these targets as "very achievable" and forecasts that ServiceNow, Inc. (NYSE:NOW)'s growing platform, advanced pipeline, and large deal momentum should allow the company to retain over 20% revenue growth and significant margin expansion. However, the analyst cited "ongoing market turmoil and multiple compression" for a reduced price target. According to Insider Monkey's data, 90 hedge funds were bullish on ServiceNow, Inc. (NYSE:NOW) at the end of Q1 2022, with collective stakes worth about $7.5 billion. Chase Coleman's Tiger Global Management is the leading stakeholder of the company, with 2.4 million shares worth $1.36 billion. In its Q3 2021 investor letter, Palm Capital, an asset management firm, highlighted a few stocks and ServiceNow, Inc. (NYSE:NOW) was one of them. Here is what the fund said: "ServiceNow, Inc. (NYSE:NOW) shares were our final top contributor for 3Q on a strong beat and raise quarter. The company reported 31% subscription revenue growth, 30% subscription billings growth, and a 19% non-GAAP FCF margin for the quarter, while raising full year subscription revenue and billings guidance to 29% and 31%, respectively, as well as raising non-GAAP FCF margin by 100 basis points to 31%. ServiceNow, Inc. (NYSE:NOW) is a best-of-breed provider of both IT Service Management (ITSM) and IT Operations Management (ITOM) solutions to enterprise customers. The company's products serve mainly its clients' internal employee base with a current focus on automating the process of IT deployment, configuration and service and management of IT assets across an organization. Both its ITSM and ITOM solutions are delivered as a software-as-a-service (SaaS), and are each leading solutions in growing markets, driven by the secular trend of enterprises transitioning all aspects of their business and operations to the cloud. As the company maintains and adds customers, upsells them, and expands into adjacent markets, we believe ServiceNow, Inc. (NYSE:NOW) should sustain a strong long-term revenue and FCF growth trajectory." 8. The Charles Schwab Corporation (NYSE:SCHW) 1623 Capital's Stake Value: $8,853,000 Percentage of 1623 Capital's 13F portfolio: 4.43% Number of Hedge Fund Holders: 78 The Charles Schwab Corporation (NYSE:SCHW) is a California-based financial services company that specializes in commercial banking, personal banking, stock brokerage, electronic trading platforms, wealth management, investment management, and financial planning. The company announced in mid-June that it is expecting revenue growth of up to 8.5% in the second quarter. Motley Fool's 1623 Capital held 15,100 shares of The Charles Schwab Corporation (NYSE:SCHW) in Q1 2022, worth $8.85 million, representing 4.43% of the total 13F portfolio. Deutsche Bank analyst Brian Bedell on June 28 reiterated a Buy rating on The Charles Schwab Corporation (NYSE:SCHW) but lowered the price target on the shares to $80 from $84. The analyst slashed earnings estimates and price targets across the "rate sensitive" trust banks and online brokers to account for greater deposit from increased near-term interest rate assumptions and marginally higher deposit betas. The analyst reiterated an "increasingly more conservative" stance on trust banks. According to Insider Monkey's data, 78 hedge funds were bullish on The Charles Schwab Corporation (NYSE:SCHW) at the end of the first quarter of 2022, up from 72 funds in the preceding quarter. Harris Associates is the largest shareholder of the company, with more than 12 million shares worth $1 billion. Here is what Giverny Capital Asset Management has to say about The Charles Schwab Corporation (NYSE:SCHW) in its Q1 2022 investor letter: "My wife likes to kid me for my tendency to praise essays and other commentary by saying, "It was good because I agreed with it." I cite Jamie Dimon at the top of this letter because I agree with his comments and, in fact, have been writing to you for some time about the problem of unsustainably low interest rates coupled with high levels of inflation. As you know, we own a significant number of companies that should benefit from higher interest rates, including brokerage Charles Schwab. Turning to trading, during the first quarter we lightly trimmed our holding Charles Schwab. We trimmed Schwab after a big run-up. It remains one of our top five holdings." 7. Equinix, Inc. (NASDAQ:EQIX) 1623 Capital's Stake Value: $9,270,000 Percentage of 1623 Capital's 13F portfolio: 4.64% Number of Hedge Fund Holders: 40 Equinix, Inc. (NASDAQ:EQIX) is an American multinational company that specializes in internet connections and data centers. In the beginning of May, Equinix, Inc. (NASDAQ:EQIX) acquired four data centers in Chile, which adds to its Latin America market share. Securities filings for Q1 2022 reveal that Motley Fool's 1623 Capital held 12,500 shares of Equinix, Inc. (NASDAQ:EQIX), worth $9.27 million, representing 4.64% of the total 13F portfolio. On June 30, Jefferies analyst Jonathan Petersen upgraded Equinix, Inc. (NASDAQ:EQIX) to Buy from Hold, raising the price target to $790 from $750, citing pricing power and robustness in a recession. He thinks REITs underperforming in a recession is "not a given", observing that real estate delivered "robust returns" during previous stagflation periods. The analyst recommends properties with rent inflation potential to negate occupancy headwinds, such as Industrial, Storage, Residential, Data Centers, Towers, and Senior Housing. Among the hedge funds tracked by Insider Monkey, 40 funds were long Equinix, Inc. (NASDAQ:EQIX) at the conclusion of the first quarter of 2022, compared to 45 funds in the last quarter. Ian Simm's Impax Asset Management is the biggest shareholder of the company, with 661,963 shares worth roughly $491 million. Here is what Baron Funds has to say about Equinix, Inc. (NASDAQ:EQIX) in its Q2 2021 investor letter: "The shares of Equinix, Inc. gained 18% in the most recent quarter. Equinix is the premier global data center company in the world. We believe the company is exceptionally well positioned to continue to benefit from powerful secular demand trends including strong growth in information technology outsourcing, increased cloud computing adoption, multi-year increases in mobile data traffic, global internet traffic, and the number of connected devices." 6. American Tower Corporation (NYSE:AMT) 1623 Capital's Stake Value: $10,049,000 Percentage of 1623 Capital's 13F portfolio: 5.02% Number of Hedge Fund Holders: 50 American Tower Corporation (NYSE:AMT) is a real estate investment trust that owns and operates wireless and broadcast communications infrastructure worldwide. On July 1, KeyBanc analyst Brandon Nispel maintained an Overweight rating on American Tower Corporation (NYSE:AMT) but lowered the price target on the stock to $283 from $286. He forecasts a "relatively strong outlook" for the U.S. Tower new leasing in the coming few years, though added that 2023 "appears to represent the peak growth, which is likely to keep Tower stocks range bound" in the short-term. Securities filings for the first quarter of 2022 reveal that Motley Fool's 1623 Capital owned 40,000 shares of American Tower Corporation (NYSE:AMT), worth $10 million, representing 5.02% of the total 13F holdings. Among the hedge funds tracked by Insider Monkey, 50 funds were bullish on American Tower Corporation (NYSE:AMT) at the end of Q1 2022, compared to 53 funds in the earlier quarter. Charles Akre's Akre Capital Management is the leading stakeholder of the company, with approximately 7 million shares worth $1.75 billion. In addition to Amazon.com, Inc. (NASDAQ:AMZN), Apple Inc. (NASDAQ:AAPL), and Block, Inc. (NYSE:SQ), American Tower Corporation (NYSE:AMT) is one of the top stock picks of Motley Fool's 1623 Capital. Source: Yahoo Finance Jul 07, 2022: Austin Asset Management Co Inc Sells 146 Shares of Walmart Inc. (NYSE: WMT) Jul 8th, 2022 Austin Asset Management Co Inc trimmed its position in Walmart Inc. (NYSE:WMT - Get Rating) by 5.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,703 shares of the retailer's stock after selling 146 shares during the quarter. Austin Asset Management Co Inc's holdings in Walmart were worth $403,000 as of its most recent SEC filing. A number of other large investors have also recently modified their holdings of the stock. Industrial Alliance Investment Management Inc. bought a new stake in Walmart in the fourth quarter valued at approximately $28,000. Gibson Wealth Advisors LLC bought a new stake in Walmart in the 4th quarter valued at $29,000. Level Financial Advisors Inc. bought a new stake in Walmart in the 4th quarter valued at $35,000. James Reed Financial Services Inc. bought a new position in Walmart during the fourth quarter worth $35,000. Finally, Concorde Financial Corp bought a new position in Walmart during the fourth quarter worth $37,000. Institutional investors and hedge funds own 30.79% of the company's stock. Shares of NYSE WMT opened at $125.32 on Friday. The firm has a 50 day moving average price of $129.74 and a two-hundred day moving average price of $139.13. The stock has a market cap of $343.52 billion, a P/E ratio of 26.95, a price-to-earnings-growth ratio of 3.53 and a beta of 0.52. Walmart Inc. has a 52-week low of $117.27 and a 52-week high of $160.77. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.23 and a current ratio of 0.86. Walmart (NYSE:WMT - Get Rating) last announced its earnings results on Tuesday, May 17th. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.18). Walmart had a return on equity of 19.05% and a net margin of 2.26%. The company had revenue of $141.60 billion for the quarter, compared to the consensus estimate of $138.05 billion. During the same period in the prior year, the business earned $1.69 earnings per share. The firm's revenue for the quarter was up 2.4% on a year-over-year basis. Analysts predict that Walmart Inc. will post 6.4 earnings per share for the current fiscal year. Several analysts recently commented on WMT shares. UBS Group reduced their target price on shares of Walmart from $180.00 to $165.00 and set a "buy" rating for the company in a report on Wednesday, May 18th. Bank of America lowered their target price on Walmart from $190.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, May 18th. Raymond James reduced their price target on Walmart from $165.00 to $150.00 and set an "outperform" rating for the company in a research note on Wednesday, May 18th. Truist Financial lowered their price objective on Walmart from $150.00 to $139.00 and set a "na" rating on the stock in a research report on Wednesday, May 18th. Finally, StockNews.com cut shares of Walmart from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Walmart presently has a consensus rating of "Moderate Buy" and a consensus price target of $156.74. In other Walmart news, CEO C Douglas Mcmillon sold 9,708 shares of the stock in a transaction that occurred on Thursday, April 28th. The shares were sold at an average price of $154.41, for a total transaction of $1,499,012.28. Following the completion of the sale, the chief executive officer now owns 1,536,571 shares of the company's stock, valued at approximately $237,261,928.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 29,124 shares of company stock worth $3,904,072 over the last quarter. 48.44% of the stock is currently owned by company insiders. About Walmart (Get Rating) Walmart Inc engages in the operation of retail, wholesale, and other units worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications. Source: Defense World Jul 07, 2022: Walmart combines and expands home delivery options Walmart has made its in-home delivery service available as an optional add-on within its Walmart+ membership. InHome delivery will be rolled into Walmart+ and discontinued as a standalone service, the retailer said. The in-home option enables customers to choose where their groceries are delivered, anywhere from their doorstep to directly into their refrigerator. "We know how much InHome members love this service - they see the same familiar faces and build real relationships with our associates, who help them get through their busy weeks," said Whitney Pegden, vice president and general manager, InHome at Walmart, who said InHome has "one of the highest customer experience ratings in the business." The company launched its in-home delivery option separately from Walmart+ in 2019. In January, Walmart announced plans to scale InHome from 6 million households to 30 million households, and said that to support the expansion, it would hire more than 3,000 delivery drivers and build a fleet of all-electric delivery vans. Members of Walmart+, which costs $12.95 a month or $98 a year, can now add unlimited fee-free and tip-free in-home delivery for an extra $7 a month or $40 per year, for a total of $138 annually for both. The InHome drivers also will pick up Walmart e-commerce returns free of charge. The InHome add-on also is being offered as a 30-day trial. Walmart also announced that it will expand the in-home service in several new markets, including Miami, Tampa, Orlando, Dallas, Austin, San Jose and San Francisco, nearly doubling the footprint where the service is available. "Our members want options and a shopping experience that is easy to navigate and accommodates their individual needs, while saving them time and money -this is true now more than ever," said Chris Cracchiolo, senior vice president and general manager of Walmart+. Walmart Inc. serves approximately 230 million customers at 10,500 stores and clubs under 46 banners in 24 countries and eCommerce websites. The company had fiscal year 2022 revenue of $573 billion. Source: The Business Journals Jul 07, 2022: Walmart Inc. (NYSE: WMT) Shares Sold by Calton & Associates Inc. Jul 8th, 2022 Calton & Associates Inc. lessened its stake in shares of Walmart Inc. (NYSE:WMT - Get Rating) by 2.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,527 shares of the retailer's stock after selling 157 shares during the quarter. Calton & Associates Inc.'s holdings in Walmart were worth $1,120,000 at the end of the most recent reporting period. A number of other large investors have also recently made changes to their positions in WMT. Industrial Alliance Investment Management Inc. bought a new position in shares of Walmart during the 4th quarter valued at about $28,000. Gibson Wealth Advisors LLC bought a new stake in Walmart during the fourth quarter worth approximately $29,000. Level Financial Advisors Inc. acquired a new position in Walmart in the fourth quarter worth approximately $35,000. James Reed Financial Services Inc. bought a new position in shares of Walmart in the fourth quarter valued at $35,000. Finally, Concorde Financial Corp acquired a new stake in shares of Walmart during the 4th quarter valued at $37,000. 30.79% of the stock is currently owned by hedge funds and other institutional investors. In other Walmart news, CEO C Douglas Mcmillon sold 9,708 shares of the stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $122.13, for a total value of $1,185,638.04. Following the completion of the sale, the chief executive officer now directly owns 1,517,160 shares of the company's stock, valued at approximately $185,290,750.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold 29,124 shares of company stock worth $3,904,072 in the last ninety days. 48.44% of the stock is currently owned by insiders. WMT has been the subject of a number of recent analyst reports. Stephens decreased their price target on Walmart to $160.00 and set an "underweight" rating for the company in a research report on Thursday, May 19th. Telsey Advisory Group dropped their target price on shares of Walmart from $175.00 to $160.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 18th. Credit Suisse Group reduced their price target on shares of Walmart to $155.00 and set a "na" rating for the company in a research report on Wednesday, May 18th. Wells Fargo & Company lowered their price objective on shares of Walmart from $165.00 to $150.00 and set a "na" rating on the stock in a research report on Tuesday, May 17th. Finally, DA Davidson raised their target price on Walmart from $168.00 to $171.00 and gave the stock a "buy" rating in a research report on Friday, April 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $156.74. NYSE:WMT opened at $125.32 on Friday. The firm has a market capitalization of $343.52 billion, a PE ratio of 26.95, a PEG ratio of 3.53 and a beta of 0.52. Walmart Inc. has a 1 year low of $117.27 and a 1 year high of $160.77. The company has a current ratio of 0.86, a quick ratio of 0.23 and a debt-to-equity ratio of 0.43. The firm's fifty day simple moving average is $129.74 and its 200 day simple moving average is $139.13. Walmart (NYSE:WMT - Get Rating) last posted its quarterly earnings data on Tuesday, May 17th. The retailer reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.18). The business had revenue of $141.60 billion for the quarter, compared to analyst estimates of $138.05 billion. Walmart had a return on equity of 19.05% and a net margin of 2.26%. Walmart's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.69 EPS. As a group, analysts anticipate that Walmart Inc. will post 6.4 EPS for the current fiscal year. Walmart Profile (Get Rating) Walmart Inc engages in the operation of retail, wholesale, and other units worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications. Source: Defense World Jul 07, 2022: Walmart won't hold rival event to Amazon Prime Day, as it is already offering big markdowns Walmart won't be doing its own event to rival Amazon Prime Day this year, according to a company spokesperson. The big-box giant, like other retailers, has typically thrown its own overlapping sales event. Yet this year, much of its merchandise is already on sale. Bright yellow "Clearance" signs have become a fixture in many stores in recent weeks, and its website is touting thousands of Rollbacks, a signature term for the discounter's 90-day price cuts, on bicycles, air fryers and more. "You go in stores now, it's almost like Prime Day in some of these categories," said Rupesh Parikh, a senior analyst for Oppenheimer & Co. Walmart's heavy discounting illustrates the steps that retailers are taking to sell through excess merchandise that has racked up in the back of stores and in warehouses - even if that hurts profits. Walmart, Target and Gap are among the companies coping with higher-than-usual inventory levels. Retailers have chalked up the problem to a mix of factors, including ordering too much, getting seasonal goods too late, pandemic categories losing luster and consumers spending more on services instead of stuff. Target warned inventors last month that it will take a hit to its profit margins as it cancels orders and marks down unwanted items. Source: CNBC Jul 06, 2022: Outdoor Payment Terminals (OPT) Market to Grow Substantially at 7.1% CAGR from 2022 to 2028 - Report by Vantage Market Research July 06, 2022 08:44 WASHINGTON, July 06, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research's recent report study of the Global Outdoor Payment Terminals Market finds that increasing technological advancement like machine learning and artificial intelligence (AI) to provide faster financial transactions is a crucial parameter considered in the growth of the Outdoor Payment Terminals Market. Furthermore, these payment terminals support various potential benefits such as ease of convenience and less transaction time, bolstering the growth of the Outdoor Payment Terminals Market. In addition, increasing development in alternate payment methods such as payments via digital wallets is also expected to witness the high growth of the Outdoor Payment Terminals Market over the projected time frame. The Global Market revenue was valued at USD 819.5 Million in 2021. The Global Outdoor Payment Terminals Market size is forecasted to reach USD 1236.7 Million by the year 2028 and is projected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 7.1% during the forecast period; states Vantage Market Research, in a report, titled "Outdoor Payment Terminals Market Size, Share & Trends Analysis Report by Deployment modes (On-Premises, Cloud), by End-User (BFSI, IT and Telecommunications, Retail, E-Commerce), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)". Please Check Out Our Free Sample Reports and Make a More Informed Decision: The newly updated, 145+ page reports provide an in-depth analysis of the COVID-19 virus and pandemic. Using industry data and interview with experts, you can learn about topics such as regional impact analysis, global forecast, competitive landscape analysis, size & share of regional markets. We offer these reports in PDF format so you can read them on your computer and print them out. Free sample includes, Industry Operating Conditions, Industry Market Size, Profitability Analysis, SWOT Analysis, Industry Major Players, Historical and Forecast, Growth Porter's 5 Forces Analysis, Revenue Forecasts, Industry Trends, Industry Financial Ratios. The report also presents the country-wise and region-wise analysis of the Vantage Market Research and includes a detailed analysis of the key factors affecting the growth of the market. Sample Report further sheds light on the Major Market Players with their Sales Volume, Business Strategy and Revenue Analysis, to offer the readers an advantage over others. Key Insights & Findings from the Report: According to our primary respondents' research, the Outdoor Payment Terminals market is predicted to grow at a CAGR of roughly 7.1% during the forecast period. The Outdoor Payment Terminals market was estimated to be worth roughly USD 819.5 Million in 2021 and is expected to reach USD 1236.7 Million by 2028; based on primary research. On the basis of region, North America is projected to dominate the worldwide Outdoor Payment Terminals market. Market Dynamics: Drivers: Increased Number of Smart Phone Users In recent times, several changes have happened in the smartphone sector, from keypad phones to screen-touch phones. For instance, the current number of smartphone users in the world today is 6.648 billion, and this generates 83.72% of the world's population of smartphone users. In addition, the smartphone has adopted new technology, like advancements in security features. This advancement includes facial recognition, a lock screen, a fingerprint scanner, a payment system, and others. With the help of these characteristics, it is easy to make any transaction through mobile phones. In addition, an increase in smartphone users increases the use of online payments through credit cards via mobile payments, for example, PayPal, stripe, square, and Skrill Payoneer, to note a few. Thus, increased use of smartphones is expected to propel the growth of the Outdoor Payment Terminals Market in projected years. Restrain: Security Breaches Computer equipment needs a person's identification, such as passwords and security questions, to confirm payment. However, these authentications do not thoroughly verify a person's title. The system doesn't care who is on the other end of the password, and answers to the security questions match. Thus, sometimes there is a chance of fraud in electronic payment systems. If someone knows our password or the answers to our security questions, they can obtain access to our money and take it. POS theft is usually done during a POS transaction in merchant stores. The salesperson copies the card data for later use after taking the customer's card for payment processing. There are several techniques to steal our personal information during an online purchase. With free public Wi-Fi in use, it is possible to monitor people's keystrokes & easily take our passwords & credit card-related information. Thus, security concern is expected to be the major obstacle to the growth of the Outdoor Payment Terminals Market. Benefits of Purchasing Outdoor Payment Terminals Market Reports: Customer Satisfaction: Our team of experts assists you with all your research needs and optimizes your reports. Analyst Support: Before or after purchasing the report, ask a professional analyst to address your questions. Assured Quality: Focuses on accuracy and quality of reports. Incomparable Skills: Analysts provide in-depth insights into reports. Segmentation of the Global Outdoor Payment Terminals Market: Deployment Modes On-Premises Cloud End-User BFSI IT & Telecommunications Retail E-Commerce Government Energy Utilities Others Region North America Europe Asia Pacific Latin America Middle East & Africa COVID-19 Impact Analysis: The COVID-19 pandemic outbreak has affected various industries worldwide. Governments worldwide implemented strict lockdown measures and social distancing norms to restrict the swift spread of the pandemic. In 2020, almost all the manufacturing units worldwide were forcefully closed during the initial stages of the COVID-19. In addition, the financial crisis after the pandemic might lead to a significant delay in the commercial roll-out of the IT industry. Small and medium-scale (MSE) companies are the backbone of technology providers and are witnessing a steep drop in income since the s of the pandemic in 2020. Hence, market players faced innumerable challenges due to disruptions in the supply chain. On the other hand, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points: COVID-19 Impact Analysis: 1. Impact Assessment of COVID-19 Pandemic a. North America b. Europe c. Asia Pacific d. Latin America e. Middle East & Africa 2. Crucial Strategies Undertaken by Companies to Tackle COVID-19 3. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021 4. Long-Term Dynamics 5. Short-Term Dynamics The Report on Outdoor Payment Terminals Market Highlights: Assessment of the market Premium Insights Competitive Landscape COVID Impact Analysis Historical Data, Estimates, and Forecast Company Profiles Global and Regional Dynamics Browse market data Tables and Figures spread through 150 Pages and in-depth TOC on "Outdoor Payment Terminals Market Size, Share & Trends Analysis Report by Deployment modes (On-Premises, Cloud), by End-User (BFSI, IT and Telecommunications, Retail, E-Commerce), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)". Regional Analysis: North America Dominated the Global Outdoor Payment Terminals Market North America dominated the global Outdoor Payment Terminals Market in 2021. Technological development is aided by a well-established IT industry, propelling the growth of the Outdoor Payment Terminals Market in this region. In addition, regional IT firms are combining their efforts to encourage using a contactless payment platform. Also, firms are working with several financial institutions to establish safe, transparent, decentralized, and strong platforms in response to the high risk of cyber-crime. List of Prominent Players in the Outdoor Payment Terminals Market: ACI Worldwide Inc Fidelity Information Services Inc Fiserv Inc Master card Inc. PayPal Holding Inc Visa Inc Apple Inc. Temenos AG Capgemini SE Finastra Group Holdings Limited Recent Developments: February 2021: ACI and Gilbarco joined forces to provide secure, flexible, and reliable payment infrastructure for fuel, grocery, and convenience stores. September 2020: ACI and MasterCard will begin their collaboration by offering industry-leading technology and expertise to central banks, scheme operators, and market participants to fast-track the global migration and modernization of real-time payment solutions. Key questions answered in the report: Which regional market will show the highest and rapid growth? Which are the top five players of the Outdoor Payment Terminals Market? How will the Outdoor Payment Terminals Market change in the upcoming six years? Which application and product will take a lion's share of the Outdoor Payment Terminals Market? What is the Outdoor Payment Terminals market drivers and restrictions? What will be the CAGR and size of the Outdoor Payment Terminals Market throughout the forecast period? This market titled "Outdoor Payment Terminals Market" will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data - Units, Key Market Trends, and various others as mentioned below: Deployment Modes On-Premises Cloud End-User BFSI IT & Telecommunications Retail E-Commerce Government Energy Utilities Others Region North America Europe Asia Pacific Latin America Middle East & Africa Region & Counties Covered North America U.S. Canada Mexico Europe U.K France Germany Italy Spain Rest Of Europe Asia Pacific China Japan India South Korea South East Asia Rest Of Asia Pacific Latin America Brazil Argentina Rest Of Latin America Middle East & Africa GCC Countries South Africa Rest Of Middle East & Africa Companies Covered ACI Worldwide Inc Fidelity Information Services Inc Fiserv Inc Master card Inc. PayPal Holding Inc Visa Inc Apple Inc. Temenos AG Capgemini SE Finastra Group Holdings Limited Report Coverage Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis Customization of the Report: The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports. Browse More Related Report: Edutainment Market Size, Share & Trends Analysis Report by Gaming Type (Interactive, Non-Interactive, Explorative, Hybrid Combination), by Facility Size (5,001 to 10,000 Sq. Ft., 10,001 to 20,000 Sq. Ft., 20,001 to 40,000 Sq. Ft., 40,000 Sq. Ft.), by Revenue Source (Entry Fees & Tickets, Food & Beverages, Merchandising, Advertising), by Visitor Demographics (Children (0-12), Teenager (13-18), Young Adult (19-25), Adult (25+)), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028). Background Music Market Size, Share & Trends Analysis Report by Type (AV System Equipment, In-App & Web), by End Use Industry (Hotels & Motels, Retail Stores, Cafes & Restaurants, Workplace), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028). Anti-Vibration Mounts Market Size, Share & Trends Analysis Report by Application (Diesel Generator, Pumps, Motors, HVAC Equipment), by Type (Passive Isolation, Active Isolation), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028). 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The company serves various enterprises and clients in a wide variety of industries. The company offers detailed reports on multiple industries including Chemical Materials and Energy, Food and Beverages, Healthcare Technology, etc. The company's experienced team of Analysts, Researchers, and Consultants use proprietary data sources and numerous statistical tools and techniques to gather and analyse information. Source: GlobeNewswire Jul 06, 2022: Commerce M-Payment Market Share and Future Forecast 2022 to 2028 - Apple Inc, Alphabet Inc, Mastercard Incorporated tanmay July 6, 2022 Global And United States Commerce M-Payment Market Report & Forecast 2022-2028 The Global Commerce M-Payment Market report focuses on a comprehensive analysis of the current and future scope of the Commerce M-Payment business. An in-depth analysis of historical and future trends, SWOT analysis, demographics, industrial advances, and overall earnings for the Commerce M-Payment market has been presented to analyses the growth rate of each segment and sub-segment. The report takes a closer look at the current status of various factors including but not limited to supply chain management, niche markets, distribution channel, trade, supply, and demand and risk analysis capability across different countries. (Exclusive offer Flat 30%- Use code MIR 30): The Key Market Players: Apple Inc, Alphabet Inc, Mastercard Incorporated, Paypal Holdings, Inc, Visa, Inc, ACI Worldwide, Inc, DH Corporation, Fidelity National Information Services, Fiserv, Inc, Square, Inc, Samsung Electronics Company Limited, Jack Henry & Associates Inc Segmentation of Commerce M-Payment market on the basis of Product Type: Peer-to-Peer Transfer Near Field Communication Barcode Segmentation of Commerce M-Payment market on the basis of Application: Retail Hospitality and Tourism IT and Telecommunication BFSI Media and Entertainment Healthcare Airline Geographical Analysis - The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.) - North America (United States, Mexico & Canada) - South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.) - Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.) - Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia). Key Reasons to Purchase Commerce M-Payment Market Report: -The report analysis by geography highlights the consumption of the product/service within the region also indicating the factors that are affecting the market within each region. -The report provides opportunities and threats faced by the vendors in the global Commerce M-Payment Industry. -The report indicates the region and segment that's expected to witness the fastest growth. -The competitive landscape includes the market ranking of the main players, along with new product launches, partnerships, business expansions, and acquisitions. -The report provides extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the main market players. -The report gives the present as well as the future market outlook of the industry regarding recent developments, growth opportunities, drivers, challenges, and restraints of both emerging also as developed regions. Major highlights from Table of Contents Commerce M-Payment Market Study Coverage: - Commerce M-Payment Overview, Definition and Classification Market drivers and barriers - Commerce M-Payment Market Competition by Manufacturers - Commerce M-Payment Capacity, Production, Revenue (Value) by region (2022-2028) - Supply (Production), Consumption, Export, Import by Region (2022-2028) - Production, Revenue (Value), Price Trend by Type - Market Analysis by Application {Sales Terminal and Market Analysis, Analysis of User - Commerce M-Payment Manufacturers Profiles/Analysis, Manufacturing Cost Analysis, Industrial/Supply Chain Analysis, Sourcing Strategy and Downstream Buyers, Marketing - Strategy by Key Manufacturers/Players, Connected Distributors/Traders Standardization, Regulatory and collaborative initiatives, Effect Factors Analysis. Conclusion: At the end of Commerce M-Payment Market report, all the findings and estimation are given. It also includes major drivers, and opportunities along with regional analysis. Segment analysis is also providing in terms of type and application both. In case of any Queries or Customization Requirements please connect with our sales team, who will ensure that your requirements are met. You can also get individual chapter wise section or region wise report version like North America, Middle East, Africa, Europe or LATAM, Asia. Source: Designer Women Jul 06, 2022: Cooper Financial Group Grows Stock Holdings in Walmart Inc. (NYSE: WMT) Jul 6th, 2022 Cooper Financial Group grew its holdings in Walmart Inc. (NYSE:WMT - Get Rating) by 13.5% during the 1st quarter, Holdings Channel reports. The fund owned 4,603 shares of the retailer's stock after purchasing an additional 548 shares during the period. Cooper Financial Group's holdings in Walmart were worth $686,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Other hedge funds have also added to or reduced their stakes in the company. Baltimore Washington Financial Advisors Inc. purchased a new stake in Walmart during the fourth quarter worth $286,000. Gibson Wealth Advisors LLC purchased a new stake in Walmart during the fourth quarter worth $29,000. Level Financial Advisors Inc. purchased a new stake in Walmart during the fourth quarter worth $35,000. James Reed Financial Services Inc. purchased a new stake in Walmart during the fourth quarter worth $35,000. Finally, Concorde Financial Corp purchased a new stake in Walmart during the fourth quarter worth $37,000. 30.79% of the stock is currently owned by institutional investors and hedge funds. In related news, CEO C Douglas Mcmillon sold 9,708 shares of the firm's stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $125.61, for a total transaction of $1,219,421.88. Following the completion of the sale, the chief executive officer now directly owns 1,526,864 shares in the company, valued at $191,789,387.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 29,124 shares of company stock valued at $3,904,072. 48.44% of the stock is owned by company insiders. WMT has been the topic of a number of recent analyst reports. Telsey Advisory Group lowered their price target on shares of Walmart from $175.00 to $160.00 and set an "outperform" rating on the stock in a report on Wednesday, May 18th. Jefferies Financial Group lowered their price target on shares of Walmart from $175.00 to $155.00 and set a "buy" rating on the stock in a report on Wednesday, May 18th. Credit Suisse Group lowered their price target on shares of Walmart to $155.00 and set a "na" rating on the stock in a report on Wednesday, May 18th. JPMorgan Chase & Co. set a $134.00 price objective on shares of Walmart in a report on Monday, June 6th. Finally, Truist Financial decreased their price objective on shares of Walmart from $150.00 to $139.00 and set a "na" rating on the stock in a report on Wednesday, May 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Walmart has a consensus rating of "Moderate Buy" and a consensus target price of $156.74. Walmart stock opened at $124.25 on Wednesday. Walmart Inc. has a 12-month low of $117.27 and a 12-month high of $160.77. The stock has a market cap of $340.59 billion, a P/E ratio of 26.72, a PEG ratio of 3.48 and a beta of 0.52. The company has a 50-day moving average price of $130.94 and a 200 day moving average price of $139.32. The company has a current ratio of 0.86, a quick ratio of 0.23 and a debt-to-equity ratio of 0.43. Walmart (NYSE:WMT - Get Rating) last released its quarterly earnings data on Tuesday, May 17th. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.18). Walmart had a return on equity of 19.05% and a net margin of 2.26%. The firm had revenue of $141.60 billion for the quarter, compared to analyst estimates of $138.05 billion. During the same quarter in the previous year, the business posted $1.69 earnings per share. Walmart's revenue for the quarter was up 2.4% on a year-over-year basis. As a group, analysts forecast that Walmart Inc. will post 6.4 EPS for the current year. About Walmart (Get Rating) Walmart Inc engages in the operation of retail, wholesale, and other units worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications. Source: Defense World Jul 06, 2022: Walmart+ and InHome Combine To Become the Ultimate Membership July 06, 2022 BENTONVILLE, Ark., July 6, 2022 - Starting today, Walmart's popular InHome Delivery Service, which delivers groceries straight to your fridge, is now available as an optional add-on within Walmart+. What were previously two standalone memberships are joining forces to bring all delivery capabilities into a single, streamlined experience, allowing new and existing members to choose the membership plan that appeals the most to them based on the type of delivery service they want. Bringing InHome under the Walmart+ umbrella is what customers asked for as it allows them to complete all their membership needs in a single place - whether signing up for a 30-day Walmart+ trial, purchasing their membership, or opting to "Plus Up" to InHome delivery. "When Walmart+ members ask for something, we work around the clock to make it happen for them," said Chris Cracchiolo, Senior Vice President & General Manager of Walmart+. "Our members want options and a shopping experience that is easy to navigate and accommodates their individual needs, while saving them time and money-this is true now more than ever." As of today, Walmart is also launching InHome in several new markets including Miami, Tampa, Orlando, Dallas, Austin, San Jose and San Francisco, nearly doubling the footprint where this service is available. As that added layer of convenience, InHome delivery enables customers to pick and choose where their groceries are delivered - anywhere from their doorstep to directly into the refrigerator. The InHome service is both ultra-convenient and secure. Members of Walmart+'s $12.95 a month/$98 a year program can now add unlimited fee-free and tip-free InHome delivery for an extra $7 a month or $40 per year. That is $138 annually for both, $10 less than previous annual pricing when Walmart+ and InHome were separate memberships. New customers who sign up for both services also get to enjoy the lower rate of the combined programs. "We know how much InHome members love this service - they see the same familiar faces and build real relationships with our associates, who help them get through their busy weeks," said Whitney Pegden, Vice President and General Manager, InHome at Walmart. "InHome has one of the highest customer experience ratings in the business, and now we've made it even easier to access in even more locations as we grow to reach over 30 million households by the end of the year." Walmart's eCommerce sales grew by 38% over the last two years, and Walmart continues to invest in the delivery space to create a seamless, flexible experience for customers. Additionally, the retailer is ramping up delivery slot capacity by 35% this year to meet growing demand and continues to expand to new markets. Customers include everyone from people with mobility issues who need additional help with their groceries, to busy families who are happy to erase one more thing from their to-do list as they return home to a refrigerator stocked with fresh food. Source: Walmart Inc. Jul 06, 2022: Goldman's three-prong investment strategy for the rest of 2022. Plus, smaller-cap TSX energy stock picks to buy on the dip Goldman Sachs chief U.S. equity strategist David Kostin provided an excellent roundup of 2022′s market carnage to date and offered a three-prong strategy for investors to follow for the remainder of the year in order to protect asset values. Mr. Kostin wrote the best one-sentence explanation for first half market action I've read so far. It read: "Higher-than-expected inflation readings translated into a faster-than-expected pace of Fed tightening, which prompted a back-up in nominal 10-year Treasury yields (1.4% to 3.0%) and a jump in real yields which compressed the S&P 500 P/E multiple by 24% (from 21x to 16x), and led to a 20%+ decline in US equities." In effect, the jump in bond yields made equities less attractive, causing a re-rating lower of price-to-earnings ratios. The strategist noted that the entirety of S&P 500 declines has been valuation-driven rather than earnings-driven - consensus profit forecasts have actually climbed this year, rather than been cut. As an aside, Mr. Kostin's counterpart at Morgan Stanley, Michael Wilson, believes downward earnings revisions are the next shoe to drop for equity markets. Goldman Sachs has three strategic recommendations to combat expected market volatility for the second half of the year. The first is to focus on companies where the pace of earnings growth is the least volatile, rather than the highest rate. Mr. Kostin pointed to his Stable Growth basket of stocks which includes Alphabet Inc., Home Depot Inc., Colgate-Palmolive Co., Amgen Inc., Waste Management Inc., Automatic Data Processing Inc., Visa Inc., and American Tower. The strategist also recommended health-care stocks. He noted that profit margins in the sector have historically been resilient during recessions - consumer staples is the only sector where margins held up better. Health-care stocks have actually increased earnings during the past six recessions. Mr. Kostin also recommends dividend stocks to combat volatility, particularly companies with high and growing payouts. The median stock in his High Dividend Growth basket has a yield double that of the S&P 500, dividend growth twice that of the index, and a lower PE ratio than the benchmark's average. Stocks in the U.S. dividend growth basket that are most likely to interest Canadian investors include Ford Motor Co., Molson Coors Beverage, Merck & Co. Inc., Amgen Inc., United Parcel Service, Corning Inc., Analog Devices Inc. and Packaging Corporation of America. Goldman Sachs, along with Morgan Stanley, BofA Securities and others, is another example of a major Wall Street firm recommending that investors batten down the hatches and get defensive. Canadian investors have so far been spared a lot of volatility because of strength in energy stocks, but recent weakness in oil could be a signal that defensiveness is the right trend on this side of the border too. -- Scott Barlow, Globe and Mail market strategist This is the Globe Investor newsletter, published three times each week. If someone has forwarded this e-mail newsletter to you or you're reading this on the web, you can sign up for the newsletter and others on our newsletter signup page. STORY CONTINUES BELOW ADVERTISEMENT Stocks to ponder Air Canada (AC-T +0.49%increase ) The airline stock has come under renewed selling pressure amid well publicized flight delays and skyrocketing fuel costs. But David Berman believes investors should ponder buying shares now for a couple of reasons. First, the recovery in airline traffic is real, which bodes well for industry profits next year if airlines and airports can fix the problems now weighing on flight schedules and disgruntled passengers. And second, the current bout of flight cancellations - which aren't affecting Air Canada's international flights beyond the United States - could actually work in favour of airlines if a recession is brewing. The Rundown Three smaller-cap energy stock picks that offer yields greater than 6% Energy stocks have taken a pounding of late, but it could be opening up a buying opportunity for yield-hungry investors. Gordon Pape looks at a handful of smaller TSX energy stocks that he recommends for their juicy, and for the most part reliable, dividends. Also see: Recession fears deal blow to rare 2022 market winner: U.S. energy shares The bonfire of the NFTs The NFT dream isn't dead, but it's taken a big non-fungible beating. The market shone gloriously last year as crypto-rich speculators spent billions of dollars on the risky assets, pumping up prices and profits. Now, six months into 2022, it's looking ugly, reports Reuters. Others (for subscribers) Number Cruncher: These twelve U.S. tech stocks have withstood market sell-off Number Cruncher: Nine TSX financial stocks that may be flying under your radar Wednesday's analyst upgrades and downgrades Wednesday's Insider Report: Executive invests over $1.7-million in this stock yielding 4% Globe Advisor Demand for EVs, 5G and interconnecting devices bode well for chips despite tech selloff How top advisors are navigating volatile markets to spot the bargains Are you a financial advisor? Register for Globe Advisor (www.globeadvisor.com) for free daily and weekly newsletters, in-depth industry coverage and analysis, and access to ProStation - a powerful tool to help you manage your clients" portfolios. Ask Globe Investor Question: If I get paid a monthly dividend via a dividend reinvestment plan (DRIP), it shows up as additional shares in my account rather than as cash. Is the cash equivalent amount reported as income for that year for taxation purposes, or is it taxable as capital gains when I sell the shares? Thanks, Martin Answer: Unfortunately, the answer is both - you're taxed twice, assuming the security is in a non-registered account. The cash equivalent of the DRIP payment is taxed as dividend income, even though it's received in the form of shares. The one bit of good news is that it's eligible for the dividend tax credit. The shares purchased by the DRIP will be recorded at book value. When you sell, 50 per cent of any capital gain will be taxable. If the shares are in a registered plan, you won't have these problems. --Gordon Pape What's up in the days ahead Ian McGugan explains why investors should beware the myth of a friendly recession. Click here to see the Globe Investor earnings and economic news calendar. More Globe Investor coverage For more Globe Investor stories, follow us on Twitter @globeinvestor You may also be interested in our Market Update or Carrick on Money newsletters. Explore them on our newsletter signup page. Source: The Globe and Mail Jul 06, 2022: Walmart+ Adds In-Home Delivery As Another Plus Christine LaFave Grace on Jul. 06, 2022 Do you want groceries and gadgets delivered to your doorstep plus free restaurant delivery, or do you want groceries delivered and put inside your refrigerator plus gas discounts? (Or both?) Those are the offerings in play as of Wednesday from Amazon and Walmart, respectively, with annual price points of $139 and $138, respectively. On the same day that Amazon announced a deal with Grubhub that will give Amazon Prime members a free one-year trial of Grubhub+ (which offers free restaurant delivery on orders of $12 or more), Bentonville, Ark.-based Walmart announced that it's integrating InHome delivery as an optional add-on within its Walmart+ membership program. Walmart's InHome delivery service is exactly what it sounds like, with a "highly trained InHome associate" delivering orders placed on Walmart.com or through the Walmart app into the customer's residence or garage via a one-time door access code and putting away perishable goods in the refrigerator or freezer as needed. The offering debuted in 2019 and was available to six million U.S. households as of the beginning of this year, when Walmart announced a major expansion of the service that would make InHome delivery available to around 30 million households by the end of 2022. Previously, InHome and Walmart+ were separate membership programs, with InHome service costing $50 per year and a Walmart+ membership clocking in at $98 annually (or $12.95 per month). Walmart+ benefits include free unlimited grocery delivery from Walmart stores with a $35 minimum order, free shipping with no order minimum, use of checkout-free Scan & Go payment in store and, as of April, 10 cents off per gallon at more than 14,000 gas stations across the country. On Wednesday, Walmart said that InHome now will be available as an add-on to Walmart+ memberships at a discounted rate of $40 per year (or $7 per month) for the in-residence delivery service-bringing the total cost for an annual Walmart+ membership with InHome service to $138, or $1 less than an Amazon Prime annual membership. Walmart also announced Wednesday that InHome is going live in Miami, Tampa and Orlando, Florida; Dallas and Austin, Texas; and San Jose and San Francisco, California. "We know how much InHome members love this service-they see the same familiar faces and build real relationships with our associates, who help them get through their busy weeks," InHome VP and general manager Whitney Pegden said in a statement. "InHome has one of the highest customer experience ratings in the business, and now we've made it even easier to access in even more locations." Most U.S. households (62%) belong to at least one retail membership program, Chicago-based research firm Numerator reported in May, with Amazon Prime holding by far the largest share of subscribers, although Walmart+, which launched in fall 2020, is seeing its numbers grow. Nearly three in four Walmart+ members (73%) also are Amazon Prime subscribers, according to Numerator. Separate research from e-commerce analytics provider Similarweb this spring found Walmart gaining in online grocery transactions year over year since early 2021, while Amazon's grocery transactions on average were flat. "Walmart's grocery segment growth was more steady than Amazon's volatile growth," Similarweb's Lucas Pettinato wrote. The Bentonville-based retailer, which has gone toe to toe with Amazon on membership deals before, touted as much in its InHome news release Wednesday. "Walmart's e-commerce sales grew by 38% over the last two years, and Walmart continues to invest in the delivery space to create a seamless, flexible experience for customers," the company stated. "Additionally, the retailer is ramping up delivery slot capacity by 35% this year to meet growing demand." Source: Winsight Grocery Business Jul 06, 2022: Walmart Inc. (NYSE: WMT) Receives Average Recommendation of "Moderate Buy" from Analysts WEDNESDAY, JULY 6, 2022 Walmart Inc. (NYSE:WMT - Get Rating) has been given a consensus recommendation of "Moderate Buy" by the twenty-nine brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $156.74. Walmart's "Everyday Low Prices" Gets Burned By Inflation A number of research analysts have commented on WMT shares. Wells Fargo & Company cut their price target on shares of Walmart from $165.00 to $150.00 and set a "na" rating for the company in a research note on Tuesday, May 17th. Guggenheim cut their price target on shares of Walmart from $185.00 to $175.00 and set a "na" rating for the company in a research note on Wednesday, May 18th. DA Davidson raised their price target on shares of Walmart from $168.00 to $171.00 and gave the stock a "buy" rating in a research note on Friday, April 8th. Evercore ISI cut their price target on shares of Walmart from $140.00 to $135.00 and set an "in-line" rating for the company in a research note on Wednesday, May 18th. Finally, Gordon Haskett cut their target price on shares of Walmart from $140.00 to $135.00 and set a "hold" rating for the company in a research note on Wednesday, May 18th. WMT stock opened at $124.25 on Wednesday. Walmart has a twelve month low of $117.27 and a twelve month high of $160.77. The company has a market cap of $340.59 billion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 3.48 and a beta of 0.52. The business's 50-day simple moving average is $130.94 and its 200 day simple moving average is $139.32. The company has a quick ratio of 0.23, a current ratio of 0.86 and a debt-to-equity ratio of 0.43. MarketBeat Podcast: 3 Stocks Flashing Buy Signals Walmart (NYSE:WMT - Get Rating) last announced its quarterly earnings results on Tuesday, May 17th. The retailer reported $1.30 EPS for the quarter, missing analysts' consensus estimates of $1.48 by ($0.18). The business had revenue of $141.60 billion for the quarter, compared to the consensus estimate of $138.05 billion. Walmart had a return on equity of 19.05% and a net margin of 2.26%. The firm's revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.69 EPS. On average, equities research analysts anticipate that Walmart will post 6.4 EPS for the current year. In other news, CEO C Douglas Mcmillon sold 9,708 shares of the stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $122.13, for a total value of $1,185,638.04. Following the transaction, the chief executive officer now directly owns 1,517,160 shares of the company's stock, valued at $185,290,750.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 29,124 shares of company stock valued at $3,904,072. Corporate insiders own 48.44% of the company's stock. 3 Stocks Flashing Buy Signals Institutional investors and hedge funds have recently modified their holdings of the company. Cordant Inc. bought a new position in Walmart in the 1st quarter valued at about $25,000. Conrad Siegel Investment Advisors Inc. bought a new position in Walmart during the 1st quarter worth approximately $27,000. Industrial Alliance Investment Management Inc. bought a new position in Walmart during the 4th quarter worth approximately $28,000. Ulland Investment Advisors LLC grew its holdings in Walmart by 442.9% in the first quarter. Ulland Investment Advisors LLC now owns 190 shares of the retailer's stock worth $28,000 after purchasing an additional 155 shares during the period. Finally, Swaine & Leidel Wealth Services LLC acquired a new stake in shares of Walmart in the 1st quarter valued at about $28,000. 30.79% of the stock is currently owned by institutional investors. Walmart Company Profile (Get Rating) Walmart Inc engages in the operation of retail, wholesale, and other units worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications. Source: MarketBeat Jul 06, 2022: Flocash and Visa Partner to Promote Digital Capabilities for African SMEs Visa, a world leader in digital payments, announced today that it is partnering with Flocash (www.Flocash.com), FT Africa's fastest growing fintech 2022, to promote digital capabilities for African SMEs through digital payments, supplier solutions and access to financial services. The first step in this partnership is the launch of Flostore, powered by a Visa digital wallet and the Flocash pan -African payment platform, which can help small businesses accept digital payments, manage supplies and access financial services across Africa. In addition to Flostore, Flocash and Visa will work together to embed financing in payments, and bring the element of analytics, bookkeeping and reconciliation for small businesses through Visa's dynamic underwriting capabilities that includes buy now pay later structures. "Visa is committed to expanding the digitization of payments across Africa. With partners like Flocash, our goal is to enable African businesses to access our payments ecosystem and technologies to enable them to innovatively and efficiently serve their customers. This partnership with Flocash, as well as the launch of Flostore, are important step towards achieving this goal," said Corine Mbiaketcha, Vice President and General Manager for East Africa at Visa. "Flocash has grown significantly as a travel payments processor over the last few years, and we are thrilled to partner with them to build innovative payments solutions that reduce friction in commerce for merchants in East Africa," Mbiaketcha added. Flostore Tap2phone capabilities enables small businesses to turn their existing mobile devices into payment acceptance terminals. Tap2phone is essential and a cost-effective mechanism for developing digital payment infrastructure in developing markets. On the other hand, the CyberSource Payment Gateway technology incorporates all the safety protocols in place to give customers peace of mind as they transact online. It is designed to provide increased fraud protection, minimize cardholder friction, and increase the completion of sales, leading to a better experience for all parties involved. This helps both merchants and issuers detect and avoid fraud more effectively. Through digitization, SMEs can use their digital footprint to tap into both traditional and alternative sources of funding to expand commerce while banks lower operating costs as they increase their revenue base. Digitization of the lending process enables banks to streamline their inefficient processes for SME lending and deliver value to their customers. 82% of small and micro businesses respondents to Visa's annual outlook survey in 2022 indicated preference for digital payment options. "Visa is a great partner to scale Flocash's pan-African payment platform and develop this critical area of African commerce that can offer enormous continent-wide economic development opportunities," said Sirak Mussie, Managing Director of Flocash. SMEs account for 90% of all businesses in Africa but have an annual financing gap of over US $136 billion according to IFC. A digitized SME sector will unlock the huge market potential of the African continent underpinned by rapid population growth. Source: African Business Jul 06, 2022: Walmart Inc. (NYSE: WMT) Receives Consensus Recommendation of "Moderate Buy" from Analysts Jul 6th, 2022 Shares of Walmart Inc. (NYSE:WMT - Get Rating) have received a consensus rating of "Moderate Buy" from the twenty-nine research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $156.74. A number of equities research analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of Walmart from $165.00 to $150.00 and set a "na" rating on the stock in a research note on Tuesday, May 17th. Citigroup decreased their target price on shares of Walmart from $171.00 to $166.00 and set a "buy" rating on the stock in a research note on Wednesday, May 18th. Truist Financial decreased their target price on shares of Walmart from $150.00 to $139.00 and set a "na" rating on the stock in a research note on Wednesday, May 18th. StockNews.com cut shares of Walmart from a "strong-buy" rating to a "buy" rating in a research note on Monday, May 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Walmart from $184.00 to $181.00 in a research note on Monday, May 16th. WMT opened at $124.25 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.23 and a debt-to-equity ratio of 0.43. The company has a market cap of $340.59 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 3.48 and a beta of 0.52. The company's 50 day moving average is $130.94 and its 200 day moving average is $139.32. Walmart has a 12-month low of $117.27 and a 12-month high of $160.77. Walmart (NYSE:WMT - Get Rating) last posted its quarterly earnings data on Tuesday, May 17th. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.48 by ($0.18). The business had revenue of $141.60 billion during the quarter, compared to analysts' expectations of $138.05 billion. Walmart had a return on equity of 19.05% and a net margin of 2.26%. The business's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.69 EPS. As a group, analysts predict that Walmart will post 6.4 EPS for the current fiscal year. In related news, CEO C Douglas Mcmillon sold 9,708 shares of Walmart stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $125.61, for a total transaction of $1,219,421.88. Following the transaction, the chief executive officer now directly owns 1,526,864 shares of the company's stock, valued at $191,789,387.04. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 29,124 shares of company stock worth $3,904,072. 48.44% of the stock is currently owned by corporate insiders. Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cordant Inc. purchased a new position in Walmart in the first quarter worth $25,000. Conrad Siegel Investment Advisors Inc. acquired a new position in Walmart during the first quarter valued at $27,000. Industrial Alliance Investment Management Inc. acquired a new position in Walmart during the fourth quarter valued at $28,000. Ulland Investment Advisors LLC lifted its position in Walmart by 442.9% during the first quarter. Ulland Investment Advisors LLC now owns 190 shares of the retailer's stock valued at $28,000 after purchasing an additional 155 shares during the period. Finally, Swaine & Leidel Wealth Services LLC acquired a new position in Walmart during the first quarter valued at $28,000. 30.79% of the stock is currently owned by institutional investors and hedge funds. About Walmart (Get Rating) Walmart Inc engages in the operation of retail, wholesale, and other units worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications. Source: Defense World Jul 06, 2022: Microtargeting In E-commerce Market to Witness Huge Growth by 2029 | Five Channels, Apple, Visa Inc. a2zJuly 6, 2022 California (United States) - Microtargeting In E-commerce Market research is an intelligence report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. Business strategies of the key players and the new entering market industries are studied in detail. Well-explained SWOT analysis, revenue share, and contact information are shared in this report analysis. Some of the Top companies Influencing this Market include: Five Channels, Apple, Visa Inc.,, Aristotle, Enveritas Group, CiviCRM,. Various factors are responsible for the market's growth trajectory, which are studied at length in the report. In addition, the report lists down the restraints that are posing threat to the global Microtargeting In E-commerce market. This report is a consolidation of primary and secondary research, which provides market size, share, dynamics, and forecast for various segments and sub-segments considering the macro and micro environmental factors. It also gauges the bargaining power of suppliers and buyers, threat from new entrants and product substitutes, and the degree of competition prevailing in the market. The report provides insights on the following pointers: Market Penetration: Comprehensive data on the product portfolios of the top players in the Microtargeting In E-commerce market. Product Development/Innovation: Detailed information about upcoming technologies, R&D activities, and market product debuts. Competitive Assessment: An in-depth analysis of the market's top companies' market strategies, as well as their geographic and business segments. Market Development: Information on developing markets in its entirety. This study examines the market in several geographies for various segments. Market Diversification: Extensive data on new goods, untapped geographies, recent advancements, and investment opportunities in the Microtargeting In E-commerce market. Global The cost analysis of the Global Microtargeting In E-commerce Market has been performed while keeping in view manufacturing expenses, labor cost, and raw materials and their market concentration rate, suppliers, and price trend. Other factors such as Supply chain, downstream buyers, and sourcing strategy have been assessed to provide a complete and in-depth view of the market. Buyers of the report will also be exposed to a study on market positioning with factors such as target client, brand strategy, and price strategy taken into consideration. Key questions answered in this report: What is the present Microtargeting In E-commerce market size in terms of revenue and volume, and how much growth is expected during the forecast period? Which are the key developments that are anticipated to stimulate Microtargeting In E-commerce market trends? Which factors will trigger product demand and how much product consumption is estimated? What are the upcoming business opportunities and restraints? Which region will dominate the global Microtargeting In E-commerce market share? Table of Contents Global Microtargeting In E-commerce Market Research Report 2022 - 2029 Chapter 1 Microtargeting In E-commerce Market Overview Chapter 2 Global Economic Impact on Industry Chapter 3 Global Market Competition by Manufacturers Chapter 4 Global Production, Revenue (Value) by Region Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions Chapter 6 Global Production, Revenue (Value), Price Trend by Type Chapter 7 Global Market Analysis by Application Chapter 8 Manufacturing Cost Analysis Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers Chapter 10 Marketing Strategy Analysis, Distributors/Traders Chapter 11 Market Effect Factors Analysis Chapter 12 Global Microtargeting In E-commerce Market Forecast If you have any special requirements, please let us know and we will offer you the report as you want. About A2Z Market Research: The A2Z Market Research library provides syndication reports from market researchers around the world. Ready-to-buy syndication Market research studies will help you find the most relevant business intelligence. Our Research Analyst Provides business insights and market research reports for large and small businesses. The company helps clients build business policies and grow in that market area. A2Z Market Research is not only interested in industry reports dealing with telecommunications, healthcare, pharmaceuticals, financial services, energy, technology, real estate, logistics, F & B, media, etc. but also your company data, country profiles, trends, information and analysis on the sector of your interest. Source: Designer Women Jul 06, 2022: Remote Mobile Payment Market to Witness Robust Expansion by 2029 | Samsung Electronics Co Ltd., Apple Inc, ACI Worldwide Inc. a2zJuly 6, 2022 New Jersey (United States) - A2Z Market Research published new research on Global Remote Mobile Payment covering the micro-level of analysis by competitors and key business segments (2022-2029). The Global Remote Mobile Payment explores a comprehensive study on various segments like opportunities, size, development, innovation, sales, and overall growth of major players. The research is carried out on primary and secondary statistics sources and it consists of both qualitative and quantitative detailing. Some of the Major Key players profiled in the study are Samsung Electronics Co Ltd., Apple Inc, ACI Worldwide Inc., Alphabet Inc., DH Corporation,, Visa Inc., Square Inc., Mastercard Incorporated, PayPal Holdings Inc, Fiserv Inc. The global Remote Mobile Payment Market research report delivers a comprehensive analysis of market size, market trends, and market growth prospects. This report also delivers extensive information on the technology expenditure for the forecast period, which gives a unique view of the global Remote Mobile Payment Market across numerous segments. The global Remote Mobile Payment market report also allows consumers recognize market prospects and challenges. Various factors are responsible for the market's growth trajectory, which are studied at length in the report. In addition, the report lists down the restraints that are posing threat to the global Remote Mobile Payment market. This report is a consolidation of primary and secondary research, which provides market size, share, dynamics, and forecast for various segments and sub-segments considering the macro and micro environmental factors. It also gauges the bargaining power of suppliers and buyers, threat from new entrants and product substitutes, and the degree of competition prevailing in the market. Key market aspects are illuminated in the report: Executive Summary: It covers a summary of the most vital studies, the Global Remote Mobile Payment market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers. Study Analysis: Covers major companies, vital market segments, the scope of the products offered in the Global Remote Mobile Payment market, the years measured, and the study points. Company Profile: Each Firm well-defined in this segment is screened based on a products, value, SWOT analysis, their ability and other significant features. Manufacture by region: This Global Remote Mobile Payment report offers data on imports and exports, sales, production and key companies in all studied regional markets The cost analysis of the Global Remote Mobile Payment Market has been performed while keeping in view manufacturing expenses, labor cost, and raw materials and their market concentration rate, suppliers, and price trend. Other factors such as Supply chain, downstream buyers, and sourcing strategy have been assessed to provide a complete and in-depth view of the market. Buyers of the report will also be exposed to a study on market positioning with factors such as target client, brand strategy, and price strategy taken into consideration. Highlighting points of Global Remote Mobile Payment Market Report: The Remote Mobile Payment global market report provides an exhaustive qualitative and quantitative analysis that will provide insight into the industry. This Remote Mobile Payment market insight includes data from significant participants such as marketers, industry experts, and investors. The Remote Mobile Payment market report's objective is to provide an exhaustive perspective from all stakeholders for young marketers and entrepreneurs. Trends and drivers are discussed in the Remote Mobile Payment Market Report The global Remote Mobile Payment market report delivers an overview of the global competitive environment. It provides details about the market, its share, and revenue. The Remote Mobile Payment Market research study recognizes the major growth regions, with the Asia Pacific leading during the forecast period. Table of Contents Global Remote Mobile Payment Market Research Report 2022 - 2029 Chapter 1 Remote Mobile Payment Market Overview Chapter 2 Global Economic Impact on Industry Chapter 3 Global Market Competition by Manufacturers Chapter 4 Global Production, Revenue (Value) by Region Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions Chapter 6 Global Production, Revenue (Value), Price Trend by Type Chapter 7 Global Market Analysis by Application Chapter 8 Manufacturing Cost Analysis Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers Chapter 10 Marketing Strategy Analysis, Distributors/Traders Chapter 11 Market Effect Factors Analysis Chapter 12 Global Remote Mobile Payment Market Forecast Source: Designer Women Jul 06, 2022: Walmart class action alleges company misleads consumers over amount of olive oil in mayonnaise Anne Bucher July 6, 2022 Walmart class action lawsuit overview: Who: Plaintiff Jeremy Guzman filed a class action lawsuit against Walmart Inc. Why: Guzman alleges Walmart sells Great Value brand mayonnaise that does not contain as much olive oil as represented on the label. Where: The Walmart class action lawsuit was filed in Illinois federal court. Walmart Inc. misleadingly promotes its Great Value brand mayonnaise as being made "With Olive Oil" when the predominant oil in the product is actually soybean oil, according to a class action lawsuit filed July 5 in Illinois federal court. Plaintiff Robert Guzman alleges Walmart misrepresents the Great Value mayonnaise to boost sales of a decreasingly popular product. In the past two decades, consumer demand for mayonnaise has reportedly dropped for a variety of reasons, including the perception that mayo includes harmful fats. Walmart class action says consumers increasingly seek out products made with olive oil By prominently labeling the Great Value mayonnaise as being made "With Olive Oil," Walmart allegedly gives consumers the impression that the product is made with a healthier type of oil, the Walmart class action lawsuit alleges. Unlike many vegetable oils, which are highly processed using chemicals, olive oil is simply made from the oils from crushed olives. Olive oil has become increasingly popular in the past 20 years, and the Walmart class action lawsuit notes that olive oil sales have surpassed the sales of all other vegetable oils combined. "By labeling and promoting the [Great Value mayonnaise] as made 'With Olive Oil' with green packaging evocative of the color of olives, consumers expect a significant, non-de minimis amount of olive oil in relative and absolute amounts to all oils used," the Walmart class action lawsuit asserts. The ingredient list, however, shows that soybean oil is the most predominant oil in the product, according to the class action. Guzman alleges Walmart sold the olive oil mayonnaise at higher prices than it otherwise would have without the misleading "With Olive Oil" representation. He says he would not have purchased the product, or would have paid less for it, had he known the representations on the product label were misleading. In recent months, Walmart has faced several product recalls and class action lawsuits. The Walmart class action lawsuits and recalls involve claims of product safety, false advertising, wage violations and other issues. Do you seek out products that are made with olive oil? Tell us what you think of the Walmart class action lawsuit in the comments! Guzman is represented by Spencer Sheehan of Sheehan & Associates PC. The Walmart class action lawsuit is Jeremy Guzman v. Walmart Inc., Case No. 1:22-cv-03465, in the U.S. District Court for the Northern District of Illinois, Eastern Division. Source: Top Class Action Jul 06, 2022: M Commerce Market In-Depth Analysis including key players PayPal, Visa, MasterCard, IBM, Google, Mopay Inc MarkJuly 6, 2022 North America, March 2022,- - The M Commerce Market research report includes an in-sight study of the key Global M Commerce Market prominent players along with the company profiles and planning adopted by them. This helps the buyer of the M Commerce report to gain a clear view of the competitive landscape and accordingly plan M Commerce market strategies. An isolated section with top key players is provided in the report, which provides a complete analysis of price, gross, revenue(Mn), M Commerce specifications, and company profiles. The M Commerce study is segmented by Module Type, Test Type, And Region. The M Commerce market size section gives the M Commerce market revenue, covering both the historic growth of the market and the forecasting of the future. Moreover, the report covers a host of company profiles, who are making a mark in the industry or have the potential to do so. The profiling of the players includes their market size, key product launches, information regarding the strategies they employ, and others. The report identifies the total market sales generated by a particular firm over a period of time. Industry experts calculate share by taking into account the product sales over a period and then dividing it by the overall sales of the M Commerce industry over a defined period. The M Commerce research covers the current market size of the Global M Commerce Market and its growth rates based on 5 year history data. It also covers various types of segmentation such as by geography North America, Europe, Asia-Pacific etc., by product type M Commerce, by applications M Commerce in overall market. The in-depth information by segments of M Commerce market helps monitor performance & make critical decisions for growth and profitability. It provides information on trends and developments, focuses on markets and materials, capacities, technologies, CAPEX cycle and the changing structure of the Global M Commerce Market. This M Commerce study also contains company profiling, product picture and specifications, sales, market share and contact information of various international, regional, and local vendors of M Commerce. The M Commerce market competition is constantly growing higher with the rise in technological innovation and M&A activities in the industry. Moreover, many local and regional vendors are offering specific M Commerce application products for varied end-users. The new vendor entrants in the M Commerce market are finding it hard to compete with the international vendors based on quality, reliability, and innovations in technology. Global M Commerce (Thousands Units) and Revenue (Million USD) Market Split by various application & types:- By Type Product Type I Product Type II Product Type III By Application Retail Reservation/Ticket Booking Bill Payments Mobile Wallets Others The research study is segmented by Application such as Laboratory, Industrial Use, Public Services & Others with historical and projected market share and compounded annual growth rate. Geographically, this M Commerce report is segmented into several key Regions, with production, consumption, revenue (million USD), and market share and growth rate of M Commerce in these regions, from 2015 to 2030 (forecast), covering Get Exclusive Discount on M Commerce report on: jcmarketresearch.com/report-details/1449806/discount There are 15 Chapters to display the M Commerce. Chapter 1, to describe Definition, Specifications and Classification of M Commerce, Applications of M Commerce, Market Segment by Regions; Chapter 2, to analyze the M Commerce Manufacturing Cost Structure, M Commerce Raw Material and Suppliers, M Commerce Manufacturing Process, M Commerce Industry Chain Structure; Chapter 3, to display the M Commerce Technical Data and Manufacturing Plants Analysis of M Commerce industry, M Commerce Capacity and Commercial Production Date, M Commerce Manufacturing Plants Distribution, M Commerce R&D Status and Technology Source, M Commerce Raw Materials Sources Analysis; Chapter 4, to show the Overall M Commerce Market Analysis, M Commerce Capacity Analysis (Company Segment), M Commerce Sales Analysis (Company Segment), M Commerce Sales Price Analysis by PayPal, Visa, MasterCard, IBM, Google, Mopay Inc; Chapter 5 and 6, to show the M Commerce Regional Market Analysis that includes North America, Europe, Asia-Pacific etc., M Commerce Segment Market Analysis by Types; Chapter 7 and 8, to analyze the M Commerce Segment Market Analysis (by Application) Major Manufacturers Analysis of M Commerce;PayPal, Visa, MasterCard, IBM, Google, Mopay Inc Chapter 9, M Commerce Market Trend Analysis, M Commerce Regional Market Trend, M Commerce Market Trend by Product Types, M Commerce Market Trend by Applications; Chapter 10, M Commerce Regional Marketing Type Analysis, M Commerce International Trade Type Analysis, M Commerce Supply Chain Analysis; Chapter 11, to analyze the Consumers Analysis of M Commerce; Chapter 12, to describe M Commerce Research Findings and Conclusion, M Commerce Appendix, M Commerce methodology and M Commerce various data source; Chapter 13, 14 and 15, to describe M Commerce sales channel, M Commerce distributors, M Commerce traders, M Commerce dealers, M Commerce Research Findings and M Commerce Conclusion, appendix and data source. Source: Designer Women Jul 05, 2022: U.S. drug distributors prevail in $2.5 billion West Virginia opioid case JULY 05, 2022 08:25 IST More than 3,300 lawsuits have been filed, seeking to hold those and other companies responsible for an opioid abuse epidemic linked to more than 500,000 overdose deaths over the last two decades Major U.S. drug distributors McKesson Corp, AmerisourceBergen Corp and Cardinal Health Inc are not responsible for fueling an opioid epidemic in a part of West Virginia, a federal judge ruled on Monday. U.S. District Judge David Faber rejected efforts by the city of Huntington and Cabell County to force the country's three largest pharmaceutical distributors to pay $2.5 billion to address a drug crisis amid a flood of addictive pills in their region. But following a months-long trial that ended last year, Judge Faber said the companies did not cause any oversupply of opioids, saying doctors' "good faith" prescribing decisions drove the volume of painkillers they shipped to pharmacies. While the companies from 2006 to 2014 shipped 51.3 million opioid pills to retail pharmacies in the communities, "there is nothing unreasonable about distributing controlled substances to fulfil legally written prescriptions," Judge Faber wrote. "The opioid crisis has taken a considerable toll on the citizens of Cabell County and the city of Huntington," he wrote. "And while there is a natural tendency to assign blame in such cases, they must be decided not based on sympathy, but on the facts and the law." Steve Williams, Huntington's mayor, in a statement called the decision "a blow to our city and community." The city had sought to force the companies to help fund opioid treatment programs. Cardinal Health said Judge Faber's ruling recognized it only provided a "secure channel to deliver medications of all kinds." McKesson said it maintains strong programs to prevent the diversion of opioids to illicit channels. More than 3,300 lawsuits have been filed, largely by state and local governments, seeking to hold those and other companies responsible for an opioid abuse epidemic linked to more than 500,000 overdose deaths over the last two decades. The distributors, along with drugmaker Johnson & Johnson (J&J), last year agreed to pay up to $26 billion to resolve the thousands of lawsuits brought against them by state and local governments around the country. But communities in hard-hit West Virginia opted against joining a national opioid settlement in favor of seeking a bigger recovery. Another trial pitting the distributors against West Virginia communities begins Tuesday in state court. Monday's ruling adds to the mixed record for opioid cases that have gone to trial nationally, with courts in Oklahoma and California last year rejecting similar claims against drugmakers like J&J. A federal jury in November found pharmacy chain operators CVS Health Corp, Walgreens Boots Alliance Inc and Walmart Inc liable in a case filed by two Ohio counties. A New York jury found Teva Pharmaceutical Industries Ltd liable in December in a case by the state and two counties. Source: The Hindu Jul 05, 2022: The Very Group appoints former Walmart Japan exec Lionel Desclee as Group CEO The Very Group, operator of digital retailers Very and Littlewoods, has appointed retail veteran Lionel Desclee as Group CEO. He will come onboard on 19th September. Current Group CEO Henry Birch will step down on 24th September after four and a half years in the role. Desclee joins from McKinsey & Company, where he is a senior advisor. He previously spent three years as President and CEO of Walmart in Japan, where he led a 35,000 strong team at Seiyu, the Japanese supermarket business. Prior to Walmart, he was President and CEO at Tom & Co, which operates over 160 pet care stores in Belgium, Luxembourg and France. Between 2005 and 2016, Desclee held a number of senior roles at Delhaize Group, with responsibility for 750 franchised or affiliated stores in Belgium and Luxembourg and more than 1,600 supermarkets on the US East Coast. While in the US, he also led finance and business planning for six retail brands including Food Lion, Hannaford and Bottom Dollar Food. He is a non-executive board member at both Tom & Co and BPost, the Belgian company responsible for the delivery of national and international mail, where he also chairs the company's strategy committee. Desclee says: "I am delighted to be appointed CEO of The Very Group. The company has a rich history of transformation and an even more exciting future supporting families in the UK and Ireland with amazing brands, flexible payment options and a simple customer experience." "I can't wait to start working with the team to further strengthen the convenience, flexibility and value Very provides, whilst exploring new products and services to support our customers." Birch comments: "It has been a privilege to lead this amazing and committed team through such an important chapter in the company's development." "As I move onto my next challenge, I am proud of the progress we have made together for our customers and our people. I am confident that under Lionel's leadership, The Very Group will continue to thrive in the years ahead." Dirk Van den Berghe, The Very Group's Chairman, says: "Lionel is a highly respected leader with a wealth of global experience across digital and both food and non-food omnichannel retail." "He has a proven track record of achieving growth through transformation and operational excellence, developing and coaching world-class teams, and helping companies become even more customer-centric." "I am confident that Lionel's collaborative and strategic approach will prove invaluable as The Very Group further develops its proposition, having successfully navigated the pandemic." He concludes: "Henry has guided the group superbly over the last four and a half years. He is a dedicated, innovative and people oriented leader, and he leaves a fantastic legacy." "When he heads off to take on his next challenge later this year, it will be with our very best wishes." Source: Retail Technology Innovation Hub Jul 05, 2022: July 4th store hours: Walmart, Target, Publix, CVS, Walgreens and more Jul. 05, 2022, 12:12 a.m. Happy July 4th! Independence Day celebration are most often tied to fireworks but the holiday is marked with plenty of food, too. So if you forgot a few things for your outdoor barbecue or just want to run grab some last-minute groceries before tonight, most major chains are open today. Some may have reduced hours, so always check ahead before you go. Here's a look at store hours for some major retailers: Walmart - Open 6 a.m.-11 p.m. Target - Open regular hours for your location Grocery stores Most grocery stores, including Kroger and Publix, will be open. Check ahead for hours. Some Trader Joe's will be closing at 5 p.m.; Aldi's will close at 4 p.m. Whole Foods is open 7 a.m. - 10 p.m. One exception is Costco which is closed on Independence Day. Other retailers Academy Sports - Open 9 a.m. to 9 p.m. Best Buy - Varies by location Dollar General Open 8 a.m. to 10 p.m. Home Depot Open 6 a.m. to 10 p.m. Kohl's Open 9 a.m.-10 p.m. Lowe's Open 6 a.m. to 10 p.m. Drug stores CVS, Walgreens and Rite Aid are open on July 4th but operating hours may vary. Check ahead for pharmacy hours. Source: AL.com Jul 04, 2022: Glut of goods at Target, Walmart is a boon for liquidators 04 Jul 2022, 06:33 PM IST The excess inventory piling up at large retailers such as Target Corp. and Walmart Inc. is proving a boon for liquidators and other companies that help dispose of the oversupply. Liquidity Services Inc., Xcess Limited, B-Stock LLC and other companies said they are seeing a glut of kitchen appliances, televisions, outdoor furniture and apparel that major chains are trying to clear out. In many cases, the liquidators are picking up pallets at the ports or from a warehouse without the goods ever hitting store shelves and are selling the items to smaller retailers and individuals who resell them online. "What's unusual is the large retailers may not ever touch the products," said JD Daunt, chief commercial officer of Liquidity Services, which operates online marketplaces. "They are asking us to get in front of this earlier than in the past. There is an unusual amount of excess inventory, and it's affecting so many retailers at the same time." At the onset of the Covid-19 pandemic when many stores were temporarily closed, retailers canceled orders from overseas suppliers as shoppers huddled at home. Then, as the economy started to open up, supply-chain bottlenecks due to factory backlogs and shipping and port delays left retailers with a dearth of goods to sell. To compensate, they ordered extra and placed those orders further in advance to ensure that products arrived on time. "They wanted to make sure they'd have stuff to stock on the shelves," said Marcus Shen, chief executive of B-Stock, a software company that helps retailers manage excess inventory by matching sellers with buyers. "In the time it took for that product to get here, demand shifted." Consumers curtailed purchases of the comfortable clothes and home items that they bought during the height of the pandemic and shifted more spending to dressier clothes as well as travel and entertainment. At the same time, inflation is pushing up the costs of necessities such as food and gas, leaving less money for discretionary items. The mismatch between supply and demand has left large chains such as Target, Walmart, Gap Inc. and Macy's Inc. with excess goods they need to clear out. Target warned in June that profits would be hurt as it cancels orders with vendors and offers discounts to get rid of excess merchandise. Home Buys, a Columbus, Ohio, off-price retailer with eight stores, is selling name-brand washers and dryers at 40% off the regular price. "Before Covid, we wouldn't have had washers and dryers in our stores," said Brady Churches, the chain's chief executive. "The market for those items is normally tight, and there isn't a lot of excess." Mr. Churches said there is more excess merchandise now than at any time in the past two decades. He has been scooping up lawn-and-garden furniture and apparel, particularly winter sweaters and other cold-weather gear that arrived too late for the selling season. "The secondary market is swimming in apparel," he said. Norm Rankin, senior vice president of merchandising for Bargain Hunt, a closeout chain based in Nashville, Tenn., with 85 stores, said he has been negotiating with a large retailer trying to unload $30 million of Christmas goods, including artificial trees, decorations and home decor, that arrived after last year's holiday season. MINT PREMIUMSee All Tata-Starbucks operates some 250 stores in close to 30 cities. Photo: Abhijit Bhatlekar/Mint PREMIUM Pret A Manger's entry may end Starbucks' uncontested ru. Union Finance Minister Nirmala Sitharaman. (Photo: PTI)PREMIUM Sitharaman's bold capex plan to boost economy With Sequoia having raised a record $2.85 billion new fund focused on India and Southeast Asia just last month, the venture capital firm will likely surpass the 100 deal mark this year as well.PREMIUM In 'funding winter', Sequoia remains leading VC firm Byju's founder Byju Raveendran last year set a target of $1 billion in US revenue over three years.PREMIUM Byju's plans to raise $2.4 bn to buy American edtech fi. "The quality is very high, because many of the goods didn't even make their way into retailers' warehouses," Mr. Rankin said. Even though the secondary market is overloaded with excess outdoor furniture, Mr. Rankin said he isn't buying more because the season to sell those items is almost over. "We don't want to be overstocked ourselves," he said. Donna Griffin said she is seeing a lot of furniture and mattresses as well as winter clothing at the Bargain Hunt store near her Cropwell, Ala., home. The 61-year-old retiree said she recently bought several women's coats on clearance for $2.75 apiece, down from a regular price of $100. "The prices are even lower than usual because the items are out-of-season," she said. Larger discount chains like TJX Cos.' T.J. Maxx and Ross Stores Inc. also are benefiting from the oversupply. They often buy overruns directly from manufacturers, whereas the liquidators scoop up excess supply from the largest retailers and resell the goods to smaller chains, mom-and-pop shops, online-auction sites and individuals, who resell them at flea markets and websites such as Amazon.com Inc., eBay Inc. and Craigslist, industry executives said. Jason Carrick, the owner of Xcess Limited, said the summer is typically a slow time for liquidations, but not this year. His company has been carting away 1,600 truckloads a month of excess merchandise from a large online retailer, including clothing, treadmills and videogame consoles. Xcess Limited recently took 150 truckloads of Easter and spring goods off the hands of another large chain. Source: Mint Jun 28, 2022: Corporate Statement Issued by Walmart Inc. dated June 28, 2022 in response to a Complaint filed by the Federal Trade Commission (the "FTC") against the Company involving Money Transfer Services A narrowly divided Federal Trade Commission ("FTC") brought this factually flawed and legally baseless civil lawsuit after the Chair refused Walmart the due process of hearing directly from the company, and even the Justice Department refused to take this case to court. Claiming an unprecedented expansion of the FTC's authority, the agency seeks to blame Walmart for fraud that the agency already attributed to another company while that company was under the federal government's direct supervision. Walmart will defend the company's robust anti-fraud efforts that have helped protect countless consumers, all while Walmart has driven down prices and saved consumers an estimated $6 billion in money transfer fees. Source: Company Website Jun 23, 2022: Walmart investing over $220 Million into AR stores BENTONVILLE, Ark. (KNWA/KFTA) - On June 23, Walmart announced plans to invest an estimated $220 million this year in the state of Arkansas to update and remodel 47 local stores. According to a press release, all remodeled stores will offer pick up, delivery and Express Delivery, which are deliveries in under two hours. These new conveniences will also make the Walmart+ membership program available to more customers. "Our local stores have never been more important to the way we serve customers today, and in the future," said David Carmon, Vice President and General Manager, Walmart US. "Nearly 90% of the U.S. population lives within 10 miles of a Walmart, so whether someone is shopping in-store, online, through mobile or Pick Up, our brick-and-mortar stores play a role in fulfilling those orders. These investments will make it easier for our stores and associates to get customers what they want, when they want it." Walmart plans to host grand re-opening celebrations at each location. Source: KNWA Jun 23, 2022: Walmart Amps Up Cloud Capabilities, Reducing Reliance on Tech Giants Aaron Tilley Updated June 23, 2022 1:31 pm ET Walmart Inc. WMT 2.43%▲ said on Thursday it has developed the capability to switch seamlessly between cloud providers and its own servers, saving millions of dollars and offering a road map to other organizations that want to reduce their dependence on giant technology companies. The retailer said it has used its own servers and software to deploy one of the largest so-called hybrid clouds in existence. The company's hybrid system draws on third-party platforms from Microsoft Corp. MSFT 2.26%▲ and Alphabet Inc.'s GOOG 0.58%▲ Google as well as an internal server network it has rapidly built out across Walmart facilities around the country. "The hybrid cloud allows us to be able to draw the best that the public cloud providers can offer and to be able to combine that with something that is really purpose-built for us," Walmart Global Chief Technology Officer Suresh Kumar said. The new technology has helped the retailer reduce cloud costs and boost performance-a feat that can be difficult with existing software or capabilities at most companies. Walmart's move points to a broader shift happening in the cloud industry as companies have sought to gain more independence from large cloud providers. For the past two years, the company has been building out a network of servers that sit at Walmart stores and in its distribution facilities. The company said it now has 10,000 of what it refers to as its edge nodes across the U.S. Walmart has also built custom software that allows it to run its back end operations across any cloud system, the company said. For the past decade, the movement to the cloud has been an enormous shift in information technology, as billions of dollars in spending shifted away from organizations buying and maintaining their own data centers to a model of renting those computers from third-party vendors. Three U.S. vendors-Amazon.com Inc., AMZN 3.20%▲ Microsoft and Google-dominate the business, accounting for 65% of the global market, according to market research firm Synergy Research Group. Their clout only grew during the pandemic as organizations rushed to facilitate remote work. But now, as they move to cut costs and get access to the best technology, companies are trying to grab more control back from the cloud giants. One popular emerging strategy has been the use of multiple clouds instead of relying on a single vendor. Others are seeing the benefits of controlling costs by investing in their own server networks. "What many enterprises are doing is diversifying," said Eric Burgener, research vice president at market researcher International Data Corp. "They have two or more public cloud providers and maintain their own infrastructure." Walmart said its cloud system has saved the company between 10% and 18% in annual cloud spending and has helped reduce cloud outages, an issue that has plagued the industry. The company's servers help increase the speed in which particular applications can be accessed. One possible use in stores would be to help employees use augmented or virtual reality in their work. As one of the largest consumers of cloud computing, Walmart has long been strategic about how it tries to stay independent from cloud giants, especially in regards to its biggest competitor in retail: Amazon. In 2017, Walmart told some enterprise software vendors that if they wanted Walmart's business, they couldn't run their product on Amazon's cloud and suggested Microsoft as an alternative, The Wall Street Journal reported. And in 2018, Walmart signed a five-year cloud technology deal with Microsoft. Walmart's rivalry with Amazon was "absolutely core to this," Microsoft Chief Executive Satya Nadella said in an interview with the Journal at the time. Even though Walmart ramped up investment in its own server network, Mr. Kumar insists that Walmart is maintaining "long-term strategic partnerships" with Microsoft and Google. As Walmart continues to invest in its own technology and this hybrid cloud, the company is looking at opportunities to sell its technology to outsiders, but it isn't focused on renting out its server infrastructure to potential customers. For now, the company is focusing on high-level services, Mr. Kumar said. He pointed to the recent partnership with Adobe Inc., in which other companies will be able to sell their products on Walmart Marketplace and get access to in-store pickup capabilities using Walmart technology. Corrections & Amplifications Walmart's servers help increase the speed in which particular applications can be accessed. An earlier version of this article incorrectly said the company's servers help reduce the speed. (Corrected on June 23.) Source: Wall Street Journal Jun 23, 2022: Walmart Canada kicks off 30-minute delivery via Instacart Jun 23, 2022 Walmart Canada has launched Walmart Now, an Instacart-powered rapid delivery service for grocery and convenience items. Under a pilot in the greater Toronto area, customers can place online orders and receive their goods in as soon as 30 minutes, Mississauga, Ontario-based Walmart Canada said Friday. Described as a "virtual convenience" store, Walmart Now is driven by the Carrot Storefront solution in the Instacart Platform e-commerce suite, with fulfillment handled by participating Walmart stores. Walmart Canada said nearly 4,000 of its most-shopped items are available to customers via Walmart Now, including fresh groceries, pantry items, snacks, and household staples like pet, baby and personal care items, among other categories. Products are picked and delivered from 10 Walmart stores in the Toronto area. "Launching Walmart Now, our new Canadian convenience offering featuring our quickest delivery speeds, is proof that Walmart Canada is here to drive change in the e-commerce space," Laurent Duray, chief e-commerce officer at Walmart Canada, said in a statement. "We're nimble, we're determined and we're here to change the way Canadians shop online with Walmart. Piloting 30-minute delivery is a milestone in our road map to making it faster, easier and more convenient than ever to shop with us." Walmart Now is accessed directly at a Walmart-branded landing page in the Instacart Convenience Hub, where consumers also can find Walmart via search, as well as through Walmart.ca. Instacart unveiled the Convenience Hub last September in tandem with The Kroger Co., which launched a 30-minute delivery service dubbed Kroger Delivery Now. Instacart also rolled out 24/7 delivery at selected retail partners with stores open 24 hours or extended hours. San Francisco-based Instacart noted that it has partnered with Walmart Canada since 2018 and provides grocery delivery in as soon as an hour from more than 250 Walmart Canada stores nationwide via the Instacart App and Walmart.ca, powered by Carrot Connect. Overall, Walmart Canada operates more than 400 stores across the country, and its website is visited by over 1.5 million customers daily. Walmart Now will be accessible to about 40% of greater Toronto area households through the pilot, the companies said. "We're proud to grow our relationship with Walmart Canada to launch Walmart Now, a streamlined way for Canadian customers to access the groceries and goods they need from Walmart in as fast as 30-minutes," commented Chris Rogers, vice president of retail at Instacart. "Customers today expect convenience and quick delivery paired with broad selection. We know these components are fundamental as retailers seek to build the best online grocery experience for their customers. By collaborating with leading retailers like Walmart and providing Instacart Platform solutions that are purpose-built for grocery, we're making it easier for retailers to get customers exactly what they need, when they need it." Source: Supermarket News Jun 23, 2022: Pure Financial Advisors LLC Raises Holdings in Walmart Inc. (NYSE: WMT) Jun 23rd, 2022 Pure Financial Advisors LLC boosted its stake in shares of Walmart Inc. (NYSE:WMT - Get Rating) by 77.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,304 shares of the retailer's stock after acquiring an additional 1,885 shares during the quarter. Pure Financial Advisors LLC's holdings in Walmart were worth $641,000 as of its most recent filing with the Securities and Exchange Commission (SEC). A number of other hedge funds also recently modified their holdings of WMT. Norges Bank purchased a new stake in Walmart during the 4th quarter valued at about $2,925,852,000. GQG Partners LLC purchased a new stake in Walmart during the 4th quarter valued at about $1,507,971,000. Nordea Investment Management AB boosted its holdings in Walmart by 393.5% during the 4th quarter. Nordea Investment Management AB now owns 3,153,219 shares of the retailer's stock valued at $450,752,000 after acquiring an additional 2,514,311 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Walmart during the 4th quarter valued at about $220,119,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Walmart by 464.8% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,572,091 shares of the retailer's stock valued at $225,114,000 after acquiring an additional 1,293,769 shares during the period. Institutional investors own 30.79% of the company's stock. WMT has been the subject of several research analyst reports. MKM Partners dropped their price objective on Walmart to $159.00 and set a "na" rating for the company in a report on Wednesday, May 18th. Wells Fargo & Company dropped their price objective on Walmart from $165.00 to $150.00 and set a "na" rating for the company in a report on Tuesday, May 17th. Deutsche Bank Aktiengesellschaft dropped their price objective on Walmart from $184.00 to $181.00 in a report on Monday, May 16th. DA Davidson increased their price objective on Walmart from $168.00 to $171.00 and gave the stock a "buy" rating in a report on Friday, April 8th. Finally, Bank of America dropped their price objective on Walmart from $190.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, May 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $157.56. In other Walmart news, CEO C Douglas Mcmillon sold 9,708 shares of Walmart stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $125.61, for a total value of $1,219,421.88. Following the completion of the sale, the chief executive officer now owns 1,526,864 shares of the company's stock, valued at approximately $191,789,387.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 48.44% of the stock is currently owned by company insiders. WMT stock opened at $120.69 on Thursday. Walmart Inc. has a twelve month low of $117.27 and a twelve month high of $160.77. The company has a quick ratio of 0.23, a current ratio of 0.86 and a debt-to-equity ratio of 0.43. The firm has a market cap of $330.83 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 3.36 and a beta of 0.50. The business has a 50 day moving average of $137.13 and a 200 day moving average of $140.46. Walmart (NYSE:WMT - Get Rating) last posted its earnings results on Tuesday, May 17th. The retailer reported $1.30 EPS for the quarter, missing analysts' consensus estimates of $1.48 by ($0.18). The business had revenue of $141.60 billion during the quarter, compared to the consensus estimate of $138.05 billion. Walmart had a return on equity of 19.05% and a net margin of 2.26%. The firm's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.69 EPS. On average, research analysts expect that Walmart Inc. will post 6.4 earnings per share for the current fiscal year. Walmart Profile (Get Rating) Walmart Inc engages in the operation of retail, wholesale, and other units worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications. Source: Defense World Jun 23, 2022: New Features Put AR Shopping Experiences Right in Customers' Pockets - At Home and In Stores June 23, 2022 We believe the closest store to our customers is in their pocket, and we are focused on making that always-on experience as easy, engaging and personalized as possible. Today, we announced two brand-new augmented reality (AR) features on the Walmart app designed to making shopping easier. The first feature we are excited to share is rolling out to all customers by early July on our iOS app and allows customers to view furniture and home decor items in their spaces with a few simple swipes on their phones. This experience will initially be available for 300 furniture and home decor items, with plans to expand to popular back-to-college items over the coming months. To access the feature, all a customer needs to do is click the 'View in your space' banner on AR enabled items when shopping in the Walmart app, and this will walk them through how to connect to their camera and see the item in their own space. They will also be able to toggle the item dimensions to check if the item will fit in their space and snap a picture for later, helping them feel confident purchasing with us. 'View in your space' will be available on iOS, with plans to roll out on Android and mobile web. After extensively testing this feature with our own customers, we received overwhelmingly positive feedback, which helped ensure the experience is as seamless and user-friendly as possible. The visuals were so realistic and it didn't place an item in a strange spot as with some other apps. I often don't even try this feature in other apps for this reason but I'm very impressed. I really loved this experience. Notably, the feature includes haptic feedback, which allows customers to feel vibrations as they maneuver 3D models around their homes and prevents them from dragging items past the boundaries of their room. This adds a compelling level of realism to the experience. Unlike other AR tools, we incorporated several key accessibility features that help ensure customers with disabilities are able to use these new features. For example, customers with limited mobility can place an item within a room and maneuver it with gesture controls. For customers who are blind or have low vision, the experience provides voice-based instructions and descriptions. AR is also enabling new experiences in our stores, helping our associates get products to shelves quickly. Now Walmart Global Tech is developing a new AR in-store feature that changes how you'll view key product information. You'll never look at the store shelf in the same way again! The concept our technologists are building with Walmart designers will allow customers and associates to simply point their mobile device camera at our store shelves via the Walmart app to filter our assortment based on your personal preferences. Imagine you're a customer who is gluten-free. Using the AR in-store tool, you'll be able to use your phone to read food ingredients quickly and easily identify gluten-free products. Coupons are another future use case. For example, customers will also be able to scan store shelves to see which items are on rollback, clearance or part of a rewards program. Imagine the possibilities! Perhaps you could scan to see which items are on rollback or receive instant coupons. All of these AR-powered features are helping us deliver fast, engaging and personalized experiences that take the work out of shopping and underscore our commitment to using technology to save customers time and money. To check out 'View in your space,' please download our app and start visualizing. We can't wait to hear what you think. Source: Walmart Inc. Jun 22, 2022: Symbotic shares jump 16% premarket after Walmart discloses stake Provided by Dow Jones Jun 22, 2022 2:52 AM GMT+5:30 A previous version of this article misstated Walmart's stake in Symbotic. It has been corrected. Shares of AI supply chain company Symbotic Inc. (SYM) rose 16% in premarket trade Tuesday after Walmart Inc. (WMT) disclosed a 11.1% stake in the company. In a regulatory filing, Walmart said it had 58.8 million shares in Symbotic. In May, Walmart said it was adding Symbotic warehouse robotics to all 42 of its regional distribution centers. Previously, the agreement was for 25 of the facilities. Retrofitting all 42 facilities is expected to take more than eight years. The technology aims to speed store orders by moving merchandise in a more orderly fashion and increase inventory accuracy. Symbotic went public via a merger with a SPAC in early June. Walmart shares were up 0.6% premarket but have fallen 18% in the year to date, while the Dow Jones Industrial Average has also fallen 18%. Source: Morningstar Jun 22, 2022: Stonnington Group LLC Increases Holdings in Walmart Inc. (NYSE: WMT) Posted by admin on Jun 22nd, 2022 Stonnington Group LLC increased its holdings in shares of Walmart Inc. (NYSE:WMT - Get Rating) by 64.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,143 shares of the retailer's stock after purchasing an additional 12,250 shares during the period. Walmart accounts for about 1.2% of Stonnington Group LLC's holdings, making the stock its 21st biggest holding. Stonnington Group LLC's holdings in Walmart were worth $4,805,000 as of its most recent filing with the Securities and Exchange Commission. A number of other institutional investors have also made changes to their positions in the stock. Norges Bank purchased a new position in Walmart in the 4th quarter valued at about $2,925,852,000. GQG Partners LLC purchased a new position in Walmart in the 4th quarter valued at about $1,507,971,000. Nordea Investment Management AB boosted its position in Walmart by 393.5% in the 4th quarter. Nordea Investment Management AB now owns 3,153,219 shares of the retailer's stock valued at $450,752,000 after buying an additional 2,514,311 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Walmart in the 4th quarter valued at about $220,119,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Walmart by 464.8% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,572,091 shares of the retailer's stock valued at $225,114,000 after buying an additional 1,293,769 shares during the last quarter. 30.79% of the stock is owned by hedge funds and other institutional investors. In related news, CEO C Douglas Mcmillon sold 9,708 shares of the firm's stock in a transaction that occurred on Thursday, March 24th. The shares were sold at an average price of $142.41, for a total transaction of $1,382,516.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 29,124 shares of company stock valued at $4,100,950 over the last 90 days. 48.44% of the stock is currently owned by insiders. Shares of Walmart stock traded up $0.04 on Wednesday, hitting $122.21. The company had a trading volume of 85,692 shares, compared to its average volume of 8,288,155. The business has a 50-day simple moving average of $137.86 and a 200-day simple moving average of $140.60. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.86 and a quick ratio of 0.23. The company has a market cap of $335.00 billion, a PE ratio of 26.27, a PEG ratio of 3.36 and a beta of 0.50. Walmart Inc. has a 52 week low of $117.27 and a 52 week high of $160.77. Walmart (NYSE:WMT - Get Rating) last issued its earnings results on Tuesday, May 17th. The retailer reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $1.48 by ($0.18). The business had revenue of $141.60 billion for the quarter, compared to the consensus estimate of $138.05 billion. Walmart had a return on equity of 19.05% and a net margin of 2.26%. The company's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.69 earnings per share. On average, equities research analysts predict that Walmart Inc. will post 6.4 earnings per share for the current fiscal year. WMT has been the subject of a number of analyst reports. Royal Bank of Canada set a $153.00 price objective on shares of Walmart in a research report on Monday, June 6th. Truist Financial reduced their price target on shares of Walmart from $150.00 to $139.00 and set a "na" rating on the stock in a research report on Wednesday, May 18th. The Goldman Sachs Group set a $160.00 price target on shares of Walmart in a research report on Wednesday, May 18th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Walmart from $184.00 to $181.00 in a research report on Monday, May 16th. Finally, Wells Fargo & Company reduced their price target on shares of Walmart from $165.00 to $150.00 and set a "na" rating on the stock in a research report on Tuesday, May 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $157.56. Walmart Company Profile (Get Rating) Walmart Inc engages in the operation of retail, wholesale, and other units worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications. Source: Defense World Jun 22, 2022: Walmart Brings Additional Pregnancy Benefits to Associates Emily Crowe Multimedia Editor Following the addition of doula services for associates in Georgia who are enrolled in a medical plan, Walmart Inc. is expanding the benefit to employees in Louisiana, Indiana and Illinois. Walmart will cover up to $1,000 for doula services during pregnancy. "The birth of a child, and the time leading up to this incredible moment, can be filled with wonder, excitement, uncertainty and even stress," wrote Lisa Woods, Walmart's VP of physical and emotional well-being, in a company blog post. "We want to help make this extraordinary time for our associates and their families as special and positive as possible." Doulas are trained to help support mothers throughout the labor process and delivery of the child through communication facilitation, emotion and physical support. Though doulas are not medical professionals, they must be credentialed. "According to the National Black Doulas Association (NBDA), having a doula as a part of a birthing team decreases C-sections by 50%, shortens the time of labor by 25% and decreases the need for other medical interventions by well over 50%," Woods wrote in the blog post, adding that the services would be especially beneficial to associates in the four states where they're offered. "For example, in Louisiana, the mortality rate is four times higher for Black mothers than it is white mothers," Woods continued. "In Indiana, an astounding 33 counties have no OB-GYN services. And in Illinois, an average of 75 women die within 12 months of pregnancy each year. Our goal in expanding this doula benefit, a service that is not normally covered under traditional medical plans, is not only to make pregnancy easier for mothers in these states, but to help keep them safe." This is the latest in a series of moves by Walmart to help its associates live better lives. The retailer is growing its College2Career program and has also shared details about multiple career pathway initiatives. Walmart also launched a program to spread awareness among its associates about mental health issues and to teach them the skills necessary to aid or even save a life. Each week, approximately 230 million customers and members visit Walmart's more than 10,500 stores and numerous e-commerce websites under 46 banners in 24 countries. The company employs approximately 2.3 million associates worldwide. Bentonville, Ark.-based Walmart U.S. is No. 1 on The PG 100, Progressive Grocer's 2022 list of the top food and consumables retailers in North America. Source: Progressive Grocer Jun 22, 2022: Moody National Bank Trust Division Sells 4,757 Shares of Walmart Inc. (NYSE: WMT) Posted by admin on Jun 22nd, 2022 Moody National Bank Trust Division lowered its position in shares of Walmart Inc. (NYSE:WMT - Get Rating) by 12.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 34,599 shares of the retailer's stock after selling 4,757 shares during the quarter. Moody National Bank Trust Division's holdings in Walmart were worth $5,152,000 as of its most recent filing with the Securities & Exchange Commission. Other large investors also recently bought and sold shares of the company. Castellan Group bought a new stake in shares of Walmart in the 4th quarter worth approximately $226,000. Welch & Forbes LLC grew its stake in Walmart by 4.2% in the 4th quarter. Welch & Forbes LLC now owns 144,223 shares of the retailer's stock valued at $20,867,000 after buying an additional 5,858 shares in the last quarter. Capital Investment Advisors LLC grew its stake in Walmart by 3.2% in the 4th quarter. Capital Investment Advisors LLC now owns 29,550 shares of the retailer's stock valued at $4,276,000 after buying an additional 924 shares in the last quarter. Wealth Quarterback LLC grew its position in shares of Walmart by 422.3% during the 3rd quarter. Wealth Quarterback LLC now owns 44,234 shares of the retailer's stock valued at $1,087,000 after purchasing an additional 35,765 shares in the last quarter. Finally, Kavar Capital Partners Group LLC raised its holdings in shares of Walmart by 6.2% in the 4th quarter. Kavar Capital Partners Group LLC now owns 23,914 shares of the retailer's stock valued at $3,460,000 after acquiring an additional 1,397 shares in the last quarter. 30.79% of the stock is currently owned by institutional investors. WMT stock traded down $0.73 during mid-day trading on Wednesday, reaching $121.44. 47,222 shares of the stock traded hands, compared to its average volume of 8,288,155. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.23 and a current ratio of 0.86. Walmart Inc. has a one year low of $117.27 and a one year high of $160.77. The stock has a market capitalization of $332.89 billion, a PE ratio of 26.27, a PEG ratio of 3.36 and a beta of 0.50. The business has a 50-day moving average price of $137.86 and a two-hundred day moving average price of $140.60. Walmart (NYSE:WMT - Get Rating) last posted its quarterly earnings data on Tuesday, May 17th. The retailer reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $1.48 by ($0.18). The firm had revenue of $141.60 billion for the quarter, compared to the consensus estimate of $138.05 billion. Walmart had a net margin of 2.26% and a return on equity of 19.05%. The company's revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.69 EPS. On average, equities analysts expect that Walmart Inc. will post 6.4 earnings per share for the current fiscal year. In related news, CEO C Douglas Mcmillon sold 9,708 shares of the business's stock in a transaction that occurred on Thursday, April 28th. The shares were sold at an average price of $154.41, for a total value of $1,499,012.28. Following the completion of the transaction, the chief executive officer now owns 1,536,571 shares of the company's stock, valued at $237,261,928.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 29,124 shares of company stock valued at $4,100,950 in the last three months. 48.44% of the stock is currently owned by insiders. A number of equities analysts recently weighed in on WMT shares. UBS Group decreased their price objective on Walmart from $180.00 to $165.00 and set a "buy" rating on the stock in a report on Wednesday, May 18th. Gordon Haskett cut their price objective on Walmart from $140.00 to $135.00 and set a "hold" rating on the stock in a research report on Wednesday, May 18th. Raymond James dropped their price target on Walmart from $165.00 to $150.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 18th. Stephens lowered their price objective on Walmart to $160.00 and set an "underweight" rating for the company in a research note on Thursday, May 19th. Finally, Bank of America lowered their price objective on Walmart from $190.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, May 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $157.56. Walmart Company Profile (Get Rating) Walmart Inc engages in the operation of retail, wholesale, and other units worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications. Source: Defense World Jun 22, 2022: Walmart : Uses Innovative Onboard Technology To Go the Extra Mile for Drivers 06/22/2022 | 01:35pm BST For most retailers, supply chain innovation can feel like building an airplane while flying it. Walmart recognizes that the pilots - or in this case, our private fleet drivers - are critical to our success. That's why we are committed to improving their experience. Not only are we offering industry-leading benefits, compensation and development programs, but we have implemented two technology tools that work together to create a world-class driver experience and provide real-time visibility to the day-to-day operations of our network of more than 12,000 drivers. In collaboration with Platform Science, a telematics infrastructure and transportation technology leader, every Walmart Private Fleet cab is now equipped with an intuitive, interactive tablet device that fully integrates with NTransit, a driver workflow application developed by Walmart's product and technology teams. This customized onboard computer system provides private fleet drivers with a world-class technology experience, the business with real-time visibility and our customers with what they want, where and when they want it. How Walmart and Platform Science are Leading the Industry in Supply Chain Innovation and Automation Walmart has a rich history of transformation. Our latest approach leverages technology to transform the lives of drivers by eliminating friction and unlocking their potential. By utilizing Platform Science's telematics infrastructure solution to deploy our NTransit app, we provide drivers: Better Visibility: Knowing what we own and where we own it, in near real time, is our mission. The integration provides near real-time visibility of where our assets are within the fleet to ensure freight arrives on time and in the correct location. Stores can anticipate load arrival times and effectively plan their days and labor around truck deliveries. Additionally, Walmart customers will benefit from this increased visibility and efficiency. They will see our shelves stocked in-store and have access to a more accurate inventory of products available for purchase online. Enhanced Communication: Walmart has one of the largest private fleets in the country. Our onboard technology helps drivers communicate more closely with stores by integrating with store applications, providing a more seamless delivery process. As the driver approaches a store, geolocation technology detects the driver's location, sending push notifications to store associate's handheld devices, allowing them to plan for a quick unload and turnaround. We can also deploy secure audio messages directly with our drivers to ensure they receive important information while they are in the field. Productivity and Retention: By removing manual touchpoints, our goal is to create a frictionless workflow so drivers can spend more time driving the truck and less time waiting at fulfillment centers or store deliveries. Platform Science and NTransit integrate seamlessly to coordinate scheduling and navigation, so drivers can hit the road to their next destination without keying it in. Like any job, unplanned activities sometimes require the driver to do more than steer the truck. Our new system creates accountability by allowing drivers to communicate what they accomplished on the road. That way, they are compensated for any miles and non-driving activities beyond what was initially planned. Using Technology to Go the Extra Mile Our drivers are giving the technology the green light. A point of pride for the Platform Science and Walmart collaboration has been the significant increase in driver satisfaction, reflecting the best-in-class experience we want to provide. We plan to continue improving and evolving our onboard systems based on feedback from our drivers and store associates so our supply chain associates can do their jobs with safety, courtesy and pride. Walmart will continue to invest in disruptive technologies to take flight in today's complex retail environment. Source: MarketScreener Jun 22, 2022: Big Box Stores undergo renovations and updates to improve the shopping experience Royale Bonds State Journal-Register Springfield big box retailers are undergoing renovations to enhance the customer's shopping experience. Target has reimagined hundreds of stores over the past several years, according to a Target spokesperson. The remodels feature modern design elements and bring more digital experiences to the stores that make shopping even easier. Natavia Wilson, 22, shops at Target three to four times a week. "Target is just a relaxing place to shop for me," Wilson said. With the addition of the Ulta store in Target, Wilson is able to shop for fragrances and makeup while also shopping for her regular items at Target. Source: The State Journal-Register Jun 22, 2022: Freshpet Recalls Dog Food Sold At Target And Walmart Over Possible Salmonella Contamination Phil Hall, Benzinga Staff Writer June 22, 2022 12:31 PM Freshpet Inc FRPT -0.97% + Free Alerts has recalled one of its dog food products sold at Target Corporation TGT -2.81% + Free Alerts and Walmart Inc WMT -1.29% + Free Alerts due to the potential of salmonella contamination. What Happened: According to an announcement from the U.S. Food and Drug Administration, the impacted product is a single lot of Freshpet Select Fresh From the Kitchen Home Cooked Chicken Recipe in a 4.5-pound bag with a sell-by date of Oct. 29, 2022. The FDA noted the potentially contaminated lot was marked for destruction, but a small portion of the lot was inadvertently shipped to retailers in limited geographic markets in the last two weeks. The lot in question may have sold at limited Walmart stores in Alabama and Georgia, and at limited Target stores and other select retailers in Connecticut, Massachusetts, Maine, New Hampshire, New Jersey, New York, Pennsylvania, Puerto Rico, Rhode Island, Vermont and West Virginia. Why It Matters: Dogs with salmonella infections can become lethargic and show signs of decreased appetite or abdominal pain. In extreme cases, dogs will have either diarrhea or bloody diarrhea, fever and vomiting. Dogs that are infected with salmonella but seem otherwise healthy can be carriers and infect other animals and humans. To date, Freshpet has not received reports of illness, injury or adverse reactions from the product. No other Freshpet products or lot codes are impacted by this recall. Source: Benzinga Jun 22, 2022: Two Fires Reported at Nearby WA Walmart Stores Days Apart June 22, 2022 Jun. 21-Fires struck Walmart stores in Richland and Kennewick within days of each other. Kennewick police are still trying to find a man suspected of setting a stack of towels on fire Friday, while Richland police said there is no information that a Monday morning fire was intentional. Police do not believe the fires are related. The small fire at the Kennewick store happened just before 10:45 p.m. Friday in the towel section, said Kennewick police. The man, who was dressed in a gray jacket and tan pants was seen standing near a pile of towels, Lt. Ryan Kelly said. Shortly after walking away, a fire started there. It was quickly put out, and the store didn't need to be evacuated. There was no structural damage. Police initially detained someone based on statements from witnesses. They learned they didn't have the right person, so they released him. Now they are searching for a man who was driving a white van. Anyone with information about the arson can contact the the Kennewick police department through the non-emergency dispatch number at 509-628-0333. A few days after the Kennewick fire, Richland firefighters and police responded to reports of plumes of smoke rising from behind the Richland Walmart on the 2800 block of Duportail Street. Firefighters found the fire was inside a large cardboard recycling receptacle, Richland police said on Facebook. The receptacle was dumped out and the fire was extinguished. While investigators don't have any evidence that the fire was intentional, they are asking for anyone with information to contact police through the non-emergency dispatch line at 509-628-0333. Source: Firehouse Magazine Jun 22, 2022: Two Fires Reported at Nearby WA Walmart Stores Days Apart June 22, 2022 Kennewick police are seeking a man who is suspected of setting a fire at one Walmart and Richland officials say the second fire does not appear intentional. Source Tri-City Herald (Kennewick, Wash.) Jun. 21-Fires struck Walmart stores in Richland and Kennewick within days of each other. Kennewick police are still trying to find a man suspected of setting a stack of towels on fire Friday, while Richland police said there is no information that a Monday morning fire was intentional. Police do not believe the fires are related. The small fire at the Kennewick store happened just before 10:45 p.m. Friday in the towel section, said Kennewick police. The man, who was dressed in a gray jacket and tan pants was seen standing near a pile of towels, Lt. Ryan Kelly said. Shortly after walking away, a fire started there. It was quickly put out, and the store didn't need to be evacuated. There was no structural damage. Police initially detained someone based on statements from witnesses. They learned they didn't have the right person, so they released him. Now they are searching for a man who was driving a white van. Anyone with information about the arson can contact the the Kennewick police department through the non-emergency dispatch number at 509-628-0333. A few days after the Kennewick fire, Richland firefighters and police responded to reports of plumes of smoke rising from behind the Richland Walmart on the 2800 block of Duportail Street. Firefighters found the fire was inside a large cardboard recycling receptacle, Richland police said on Facebook. The receptacle was dumped out and the fire was extinguished. While investigators don't have any evidence that the fire was intentional, they are asking for anyone with information to contact police through the non-emergency dispatch line at 509-628-0333. Source: Firehouse Magazine Jun 22, 2022: Symbotic shares jump 16% premarket after Walmart discloses stake Investing.com Stock Market News 2022-06-21 19:53 By Liz Moyer Investing.com -- Retail shares rebounded in the broad market rally as major competitors prepare to square off in a summer sales blitz. The SPDR(Registered) S&P Retail ETF (NYSE:XRT) was up 1.7% on Tuesday. E-commerce giant Amazon.com Inc (NASDAQ:AMZN) rose 2.5% as the company prepared to kick off its annual Prime Day sale on July 12 and 13, with steep discounts on an array of electronic, clothing and home gadget products. Prime is a big event for Amazon and has prompted rivals such as Walmart Inc (NYSE:WMT) and Target to launch sales promotions of their own around the same time to capture consumer dollars. Amazon named Doug Herrington to be its new retail CEO, succeeding Dave Clark who left earlier this month. Herrington has been with Amazon since 2005. Target Corporation (NYSE:TGT) shares rose 3.7% on Tuesday after the CEO was reported to say they see a strong second half of the year and were confident that they were making the right move in trying to clear out inventory. Target's Deal Days is anticipated for July 11-13 with similar promotions on electronics, clothing and other household items. Source: Investing.com Jun 22, 2022: Walmart plans to diversify stock of Cambodia goods Hom Phanet | Publication date 22 June 2022 | 20:38 ICT Walmart Inc, the world's biggest retailer, on June 22 reiterated recent plans to scale up and greatly diversify its purchases of Cambodian products, according to the labour ministry. This came during a virtual working meeting between Minister of Labour and Vocational Training Ith Samheng and Walmart's Global Government Affairs director Anbinh Phan, the ministry noted in a statement. The statement said the US company expects the move to create job opportunities and improve the livelihoods of Cambodians, as well as contribute to the development of quality employment and vocational training systems domestically. Walmart's Anbinh, who is responsible for leading government relations to advance the retailer's sourcing goals and initiatives, said the sustainability of Cambodian goods' production and export "can be guaranteed", which she credited to the Kingdom's improving working conditions and the government's effective management of the Covid-19 pandemic, according to the statement. She added that Walmart, a leading exporter of garments, footwear, travel goods and seasonal entertainment products, plans to take in Cambodian fruits and food products, electronics and furniture, should they meet international standards. "Travel goods" is a designation that includes suitcases, backpacks, handbags, wallets and similar items. The minister said in the statement that the government has consistently encouraged local and foreign factory workers to get their Covid-19 jabs timely - including boosters - and has prioritised accordingly to ensure that they are able to do so. "The Royal Government has already launched and successfully implemented a 10-round stimulus package of intervention measures to prevent the spread of Covid-19 as well as to maintain the normal rhythm of business, production, investment and employment, and ensure the livelihoods of workers and the poor," Samheng was quoted as saying. Garment Manufacturers Association in Cambodia (GMAC) deputy secretary-general Kaing Monika said Walmart was among the top-10 largest corporate buyers of Cambodian-made garments and a "major buyer" of product from the association's members. Although he declined to release concrete data on the company's orders due to confidentiality reasons, Monika confirmed that the amount of Cambodian products stocking Walmart's shelves has been "on the rise recently". Similarly, Cambodia Footwear Association president Ly Kunthai told The Post that Walmart was among the top-five buyers of Cambodian-made footwear, adding that during Covid-19, the company bucked the trend and continued to place orders. Given its access to a wide range of markets, if Walmart were to make good on its plans, the ramp-up in purchases of textile-based goods from the Kingdom would further boost domestic production and provide other bonuses, he underscored. Founded in 1962 and headquartered in the southern US state of Arkansas, Walmart currently employs 2.3 million people and operates in 24 countries. Data from the General Department of Customs and Excise shows that Cambodian exports to the US in the first five months of 2022 were worth more than $3.729 billion, up by over 57 per cent year-on-year. In general, most of the Kingdom's exports to the US comprise garments, footwear and travel products. Source: Phnom Penh Post Jun 21, 2022: Local Express to Offer Delivery for Specialty Food and Beverage Retailers through Walmart GoLocal June 21, 2022 09:00 AM Eastern Daylight Time BENTONVILLE, Ark.--(BUSINESS WIRE)--Independent food and beverage businesses nationwide have increased access to same-day or next-day delivery via Local Express through Walmart GoLocal, Walmart's white-label delivery as a service offering. The collaboration will enable Local Express, an end-to-end eCommerce platform for food retailers, to expand its delivery capabilities to serve additional businesses in areas including Chicago, Miami and Arlington, Texas. Local Express is the first Walmart GoLocal client to focus more broadly on specialty food and beverage retailers such as local independent grocers, bakeries and restaurants as Walmart GoLocal expands and commercializes among small, mid-sized and large businesses. "Local Express is focused on modernizing the e-commerce experience for food and beverage retailers everywhere. As there continues to be strong consumer demand for delivery, it's especially important for retailers to have a seamless online ordering and delivery experience," said Bagrat Safarian, CEO of Local Express. "Our collaboration with Walmart GoLocal will enable our food and beverage providers to offer low-cost, convenient delivery to their customers and stay competitive." Walmart GoLocal serves businesses of all sizes and uses Walmart's delivery infrastructure and experience to enable local businesses to get their products to customers more efficiently and at a lower cost. Over the last three years, Walmart has scaled its local delivery network to serve more than 2,000 retail locations nationwide. "We are excited to work with Local Express to bring low-cost, customizable delivery capabilities to their independent food and beverage providers," said Harsit Patel, general manager and vice president of Walmart GoLocal. "Walmart's scale, delivery infrastructure and world-class operations means we can bring reliability to business owners while they focus on serving their customers." With more than 500 onboarded stores, Local Express offers private-brand web stores, mobile apps, self-checkout, and kiosks for customer convenience, as well as AI tools to manage fulfillment, inventory, deliveries, and shipments. "We know how important delivery is for our customers, and they want that process to be as reliable and efficient as possible," said Jonas C. Veneration, head of information technology at Seafood City, a Local Express client. "Working with Local Express and now Walmart GoLocal will help us pursue a new channel and bring our products to more customers with the convenience and ease they expect." Walmart GoLocal continues to expand and sign new clients. For more information on Walmart GoLocal, please visit www.walmartgolocal.com. For more information on Local Express, visit localexpress.io. About Local Express Local Express creates and brings together online and in-store experiences through an all-in-one eCommerce platform, built specifically for those in the independent food and beverage business - butchers, delis, bakeries, and groceries. With Local Express, food retailers can offer branded digital tools for customers' convenience, while increasing productivity with AI tools to manage fulfillment, inventory, deliveries, and shipments. Local Express brings seamless omnichannel technology solutions, unparalleled customer support, and lightning-fast onboarding. Local Express is your partner for success. About Walmart Walmart Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere - in retail stores, online, and through their mobile devices. Each week, approximately 230 million customers and members visit more than 10,500 stores and clubs under 46 banners in 24 countries and eCommerce websites. With fiscal year 2022 revenue of $573 billion, Walmart employs approximately 2.3 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting corporate.walmart.com, on Facebook at facebook.com/walmart and on Twitter at twitter.com/walmart. Source: Business Wire Jun 19, 2022: Global Remote Mobile Payment Market Research Report 2022 to 2031 SARAH JEAN CALLAHAN12 HOURS AGO A petition has been collecting signatures for over a year to have a certain product pulled from retailers' shelves. According to Change.org, close to 115,000 signatures have been collected, which pales in comparison to the amount of money the company spends on advertising. This is not the first time a retailer has been caught between what is right and what the owner of the company does and says. Papa John's (PZZA) - Get Papa John's International Inc. Report found John Schnatter was reportedly using inappropriate racial slurs. As a result of the owner's poor decision the company lost out on its massive partnership with the NFL. News surfaced that Schnatter blamed poor sales on NFL players' choice to take a knee during the national anthem. Scandals Can Be Toxic to Products Other business owners saw the writing on the walls and sold their Papa John's franchises, most notably Peyton Manning. Manning owned 30 franchises from 2012 to 2018, curiously he sold his franchises shortly after this scandal took place and the partnership with the NFL ended. Dicks Sporting Goods (DKS) - Get Dick's Sporting Goods Inc Report decided to pull its sales of firearms from its stores. Starting back in 2018 shortly after the Parkland, Fla., shooting. The store began to eliminate firearms sales and ammunition. Overall sales for these stores increased after this change. This product elimination was set to be a multi-year project. Their intent is to completely remove sales of semi-automatic weapons. Inventor of My Pillow turned businessman Mike Lindell claims that the his pillow was dropped from store shelves because the corporations want to cancel him. In fact, stores are stocking what customers want to buy, and the My Pillow product is now rated less than 4 stars. Target (TGT) - Get Target Corporation Report has already stopped selling the My Pillow product line, but some resellers might still be using original packaging of stores like Target or Bed Bath and Beyond (BBBY) - Get Bed Bath & Beyond Inc. Report from their 'As Seen on TV' section of the stores. Kohls (KSS) - Get Kohl's Corporation Report also has removed the My Pillow product line from their stores and website. According to the company, it was based on sales performance. Walmart (WMT) - Get Walmart Inc. Report is pulling the My Pillow product line and moving all inventory through Walmart.com. Lindell has again cried Cancel Culture on this change in his products availability. The products decline has seemingly corresponded with the outspoken remarks of CEO Lindell. Whether politically motivated or not, the consumers have spoken and they do not want buy the My Pillow product line from these retailers. The retailers responded by clearing their shelves to make room for products consumers will buy. It should be noted that anyone with a Walmart.com account can rate their products, no proof of purchase is necessary. Source: TheStreet Jun 19, 2022: Grocery Store Market 2022 Business Players - Walmart, Tesco, Carrefour, Costco ByGeorge Jun 20, 2022 Grocery Store Market Is Booming, Grocery Store Market Is Emerging Industry In Developing Countries, Grocery Store Market Latest Report, Grocery Store Market Rising Trends, Grocery Store Market Size, Grocery Store Market Size in United States, Grocery Store Market Swot Analysis, Grocery Store Market Updates" The global Grocery Store Market is researched with great precision and in a comprehensive manner to help you identify hidden opportunities and become informed about unpredictable challenges in the industry. The authors of the report have brought to light crucial growth factors, restraints, and trends of the global Grocery Store market. The research study offers complete analysis of critical aspects of the global Grocery Store market, including competition, segmentation, geographical progress, manufacturing cost analysis, and price structure. We have provided CAGR, value, volume, sales, production, revenue, and other estimations for the global as well as regional markets. Companies are profiled keeping in view their gross margin, market share, production, areas served, recent developments, and more factors. Development policies and plans are discussed, and manufacturing processes and industry chain structures are analyzed. This report also gives the import/export, supply, and consumption figures, as well as manufacturing costs and global revenues, and gross margin by region. Numerical data is backed up with statistical tools such as SWOT analysis, BCG matrix, SCOT analysis, and PESTLE analysis. Statistics are presented in graphical form to provide a clear understanding of the facts and figures. Key Players Mentioned in the Global Grocery Store Market Research Report: Walmart, Tesco, Carrefour, Costco, CVS Health, Target Corporation, Albertsons Companies, Couche-Tard, Ahold Delhaize, Publix, Loblaw Companies, Walgreen Boots Alliance, Metro, Kroger. Global Grocery Store Market Segmentation: Market Segmentation: By Type Big Stores, Convenience Stores Market Segmentation: By Application Residential, Commercial Market revenue forecasts for each geographic region are included in the Grocery Store research study. In addition to forecasts, growth patterns, industry-specific technologies, problems, and other features, this report contains a complete assessment of the major variables influencing the global market. A breakdown of the major market share, a SWOT analysis, a profitability index, and the geographic dispersion of the Grocery Store market are all included in the Grocery Store research. The global Grocery Store industry research offers a comprehensive comparison of economies and global market places to show the Grocery Store industry's importance in a changing geographic environment. The base of geography, the world market of Grocery Store has segmented as follows: North America includes the United States, Canada, and Mexico Europe includes Germany, France, UK, Italy, Spain South America includes Colombia, Argentina, Nigeria, and Chile The Asia Pacific includes Japan, China, Korea, India, Saudi Arabia, and Southeast Asia COVID-19 Impact Report covers Impact of Coronavirus COVID-19: Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost every country around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the Grocery Store Market in 2022. The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor/outdoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future. Reasons to Purchase the report: This report provides insights into the global Grocery Store Market along with the latest market trends and future forecasts to illustrate the future investment pockets. The potential of the global Grocery Store Market is determined by understanding the effective trends to increase the company's position in the market. This market report provides insights and detailed impact analysis on key influencers, constraints and opportunities. Five Porter strengths analysis to demonstrate the strengths of suppliers and buyers. The latest developments, market shares and strategies used by key market players Table of Content (TOC): Chapter 1: Introduction and Overview Chapter 2: Industry Cost Structure and Economic Impact Chapter 3: Rising Trends and New Technologies with Major key players Chapter 4: Global Grocery Store Market Analysis, Trends, Growth Factor Chapter 5: Grocery Store Market Application and Business with Potential Analysis Chapter 6: Global Grocery Store Market Segment, Type, Application Chapter 7: Global Grocery Store Market Analysis (by Application, Type, End User) Chapter 8: Major Key Vendors Analysis of Grocery Store Market Chapter 9: Development Trend of Analysis Chapter 10: Conclusion Conclusion: At the end of Grocery Store Market report, all the findings and estimation are given. It also includes major drivers, and opportunities along with regional analysis. Segment analysis is also providing in terms of type and application both. About Global Market Vision Global Market Vision consists of an ambitious team of young, experienced people who focus on the details and provide the information as per customer's needs. Information is vital in the business world, and we specialize in disseminating it. Our experts not only have in-depth expertise, but can also create a comprehensive report to help you develop your own business. With our reports, you can make important tactical business decisions with the certainty that they are based on accurate and well-founded information. Our experts can dispel any concerns or doubts about our accuracy and help you differentiate between reliable and less reliable reports, reducing the risk of making decisions. We can make your decision-making process more precise and increase the probability of success of your goals. Source: Indian Defence News Jun 19, 2022: 'Have No Fear': Mike Lindell Vows to Keep Fighting Cancel Culture After Walmart Pulls MyPillow From Stores 06-19-2022 Andrea Morris MyPillow CEO Mike Lindell says Walmart is the latest retailer to remove his product from its store shelves. During a live stream with Diamond and Silk on Thursday, Lindell said Walmart claims that ratings for MyPillow are too low to keep it in the stores. Lindell said he previously spoke with a Walmart representative and suggested lowering the price of his pillows. He said a week later, the representative finally got back to him and said the company was going to "drop MyPillow." "I said, 'why are you canceling MyPillow?' and you know what he said? 'MyPillow does not have a four-star rating. They are 3.8,'" Lindell recalled. He said the retailer supposedly launched a new rating system several years ago. Combating toxic masculinity, lack of fathers in the home - that and more on today's Quick Start Podcast from CBN News: Lindell noted that sales for his product have been at an all-time high this year. "I said, 'you're a liar, you're canceling MyPillow. You should be ashamed of yourself and you're going to be all over the news and you guys made your bed. I will never go back to Walmart again.'" During the interview, Lindell briefly mentioned the 2020 presidential election as a cause for his product to be pulled. He also urged his followers to be fearless against the cancel culture. "We are winning. We are winning. You should have no fear. You got to get courageous. If you're saving your courage for a rainy day, it's pouring outside. All the stuff that's going bad. you see the stock market, food prices, and you see gas prices going up, just remember this. We are the greatest revival for Jesus Christ in history." Lindell received an outpouring of support on social media with uplifting comments about the quality of his products and his commitment to his customers. "Mike God won't let you and your employees down! You know he won't so get some good sleep tonight. God is in control," commented one follower. Another wrote, "You are beautiful to the Lord, Mike.better than ANY human could know, JESUS KNOWS and GOD will continue to provide, Mike! Pray with confidence, you ARE greatly LOVED." One follower told Lindell, "You will be blessed for all you do. With God backing you all will be better than ever. Love you for all you do. America is being blessed to have you!" CBN News previously reported that Lindell's products have been removed from other retailers including Bed, Bath, & Beyond, Kohl's, Kroger's, and BJ's. A spokesperson for Walmart emailed CBN News the following statement: "While we no longer carry them in stores, MyPillow products continue to be available on Walmart.com." Source: The Christian Broadcasting Network Jun 14, 2022: Walmart seeks British retailers for third-party online marketplace Walmart Inc. is seeking UK retailers to join its online marketplace in an attempt to give British businesses another e-commerce alternative to Amazon and EBay Inc. Approved British sellers will be able to sell their goods on Walmart.com, which is visited by more than 120 million people every month, the US shopping giant said in a statement Monday. In a bid to attract sellers, Walmart is offering a guaranteed two-day shipping service to the US for much of the year and access to other ser. UK companies already on Walmart's marketplace include wearable technology firm Statsports, home and garden products seller BuyBox, sporting equipment company Nodor and generalist retailer Pertemba. Walmart has a long history with UK retail and for years owned Asda, Britain's third-largest grocer, before selling most of its holding to a consortium led by the Issa brothers over a year ago. The latest move to target British exporters comes as the UK government seeks to help businesses reach Pound1 trillion ($1.22 trillion) in exports by 2030 by focusing on non-EU markets such as the US, Australia, Canada or Japan. Source:economictimes Jun 14, 2022: Walmart and Miranda Lambert Bring Southern Hospitality to Customers With Exclusive Wanda June Home Collection BENTONVILLE, Ark., June 14, 2022 - Today, Walmart announced its latest exclusive home collaboration with reigning ACM Entertainer of the Year and three-time GRAMMY winner Miranda Lambert. Wanda June Home by Miranda Lambert is now available only at Walmart.com. Inspired by three generations of warm and sassy Southern hospitality, Wanda June Home is designed to help create a warm, comfortable, casual gathering place where everyone can feel at home - at the incredible prices Walmart customers can count on. Wanda June Collection - Behind the Scenes "Wanda June Home is named after the two most influential women in my life, my mom Beverly June Lambert and my grandma Wanda Louise Coker, AKA Nonny. They both taught me everything I know about being a woman and how to make a warm home full of laughter, love and memories. That's really the heart of my Wanda June Home brand," said Lambert. "The products are a physical representation of a long line of beautiful memories with amazing women. I am thrilled to launch Wanda June Home with Walmart, where my grandpa was a greeter back in the day and where I've shopped all my life." Starting today, Wanda June Home will offer more than 80 kitchen, bar, tabletop and home decor items priced from $12.97-$170, with most pieces under $30. The inaugural collection is designed to mix, match and collect, with tabletop essentials inspired by Lambert's own Southwestern retro farm kitchen, like the Vintage Stripe Porcelain Dish Set ($39.97), fun and feisty barware, including the Saucy Sippers Stainless Steel Stemless Set ($20.98), and home decor that features Lambert's take on Southern charm - the Jersey Knit Fringe Pillows ($20.88) are a great example. "The Wanda June Home line is a truly authentic collaboration that's only available to Walmart customers, and we know they are going to love Miranda's approachable, charming take on entertaining essentials and home decor at fantastic values," said Anthony Soohoo, executive vice president, Home at Walmart. "It's our mission to build the easiest place to shop for home design by allowing our customers to save time, effort and money. The Wanda June collection is the latest example of how Walmart is continuing to expand and elevate our assortment to democratize style for our customers." Source:corporate.walmart Jun 08, 2022: Walmart Has An Amazon Prime Day Rival That Nobody Seems to Know About The results are in and Walmart's (WMT) - Get Walmart Inc. Report first annual Walmart+ Weekend was a mixed bag. Walmart is the only company with the size and resources to compete with Amazon's (AMZN) - Get Amazon.com Inc. Report warehouse-to-door e-commerce pipeline. But Walmart is playing catchup to Amazon, which has dominated the space for two decades. Amazon held its first Prime Day in July 2015, seven years later Walmart held its own rebuttal in June 2022. It's been a tumultuous time for Walmart over the past month after the company cut its profit outlook for the full year as inflationary costs and inventory issues eat into its bottom line. Walmart now expects its earnings for fiscal 2023 to fall by about 1%. The company previously expected a 5%-6% increase. "U.S. inflation levels, particularly in food and fuel, created more pressure on margin mix and operating costs than we expected," CEO Doug McMillon said. Meanwhile Amazon is dealing with its own profitability issues with the company cautioning that costs related to hiring, supply chain disruptions, and warehouse management would combine to be around $4 billion in the current fiscal quarter. This forecast comes following Amazon's surprise first quarter loss of $3.8 billion and its slowest year-over-year revenue growth in more than a decade. Needless to say, both companies are probably watching the results of Walmart+ Weekend closely. An analysis by market research data company Numerator sheds some light on those results. Walmart Weekend Suffers From Low Awareness Only a small fraction of Walmart.com shoppers were even aware of the sales event that was held from June 2 through June 5. Relying on data from observed purchase behavior from a consumer purchase panel as well as verified buyer surveys of Walmart+ Weekend shoppers, Numerator estimates that just 33% of Walmart's online shoppers were even aware of a sale. That number pales in comparison to the 94% of Amazon shoppers who knew about Prime Day last year. Despite that disadvantage, the average Walmart+ Weekend spend per order was $69.75. That average is above the average Walmart.com order size of $64.99 and Amazon Prime Day 2021's average order size of $54.17. Source:thestreet May 24, 2022: Walmart To Host One-Weekend-Only Savings Event Exclusively for Walmart+ Members BENTONVILLE, Ark., May 18, 2022 - Today, Walmart announced the arrival of Walmart+ Weekend, an online savings event exclusively for Walmart+ members that stretches over three days. The fun begins on Walmart.com at 12 p.m. PT/3 p.m. ET on Thursday, June 2, with the deals ending at 4 p.m. PT/7 p.m. ET on Sunday, June 5. This is the best weekend to join Walmart+, as only members will have access to the deepest discounts on thousands of the hottest summer items, from a Shark vacuum to a Minnie Mouse playhouse and Samsung Galaxy S7. They'll also have the opportunity to score popular items like PlayStation 5 consoles, Pit Boss Pellet Grills and Gateway Laptops. On top of the deals, customers who sign up in a Walmart store during Walmart+ Weekend and become a paid Walmart+ member will get a $20 promo code off their next online purchase. Source: Company Website May 18, 2022: Walmart To Host One-Weekend-Only Savings Event Exclusively for Walmart+ Members BENTONVILLE, Ark., May 18, 2022 - Today, Walmart announced the arrival of Walmart+ Weekend, an online savings event exclusively for Walmart+ members that stretches over three days. The fun begins on Walmart.com at 12 p.m. PT/3 p.m. ET on Thursday, June 2, with the deals ending at 4 p.m. PT/7 p.m. ET on Sunday, June 5. This is the best weekend to join Walmart+, as only members will have access to the deepest discounts on thousands of the hottest summer items, from a Shark vacuum to a Minnie Mouse playhouse and Samsung Galaxy S7. They'll also have the opportunity to score popular items like PlayStation 5 consoles, Pit Boss Pellet Grills and Gateway Laptops. On top of the deals, customers who sign up in a Walmart store during Walmart+ Weekend and become a paid Walmart+ member will get a $20 promo code off their next online purchase.* "Our Walmart+ members loved early access to our Black Friday events, so we were inspired to create an entire weekend dedicated to the best deals," said Chris Cracchiolo, senior vice president and general manager at Walmart. "Giving members more of what they want with exclusive, unprecedented Black Friday-like savings allows us to celebrate our members in a fun, new way." Source: Company Website May 16, 2022: Events Calendar: Walmart To Host First Quarter Earnings Conference Call on May 17, 2022 BENTONVILLE, Ark. May 10, 2022 - Walmart Inc. (NYSE: WMT) today announced it will hold a live conference call with the Investment Community at 7 a.m. CDT on Tuesday, May 17, 2022, to discuss the company's first quarter earnings results for fiscal year 2023. Doug McMillon, president and chief executive officer, and Brett Biggs, executive vice president and chief financial officer, will host the call to discuss the results and answer questions. The event will be webcast live and accessible by logging onto https://corporate.walmart.com/newsroom/financial-events and selecting the First Quarter Earnings Release event. The webcast will be archived and available beginning at approximately noon CDT on May 17. Source: Company Website May 13, 2022: Walmart: Your Voice, My Voice, Our Voices: Celebrating Asian American and Pacific Islander Heritage Month Asian American and Pacific Islander (AAPI) Heritage Month is traditionally celebrated every May in the U.S., and I also want to take this opportunity to recognize our many Walmart associates and customers around the globe. I'm often reminded of how much rich diversity exists within the AAPI community and how important it is to foster an inclusive culture in our stores, clubs, fulfillment centers, distribution centers and corporate offices, where every voice is heard. Walmart's core value of Respect for the Individual is particularly important to me. I have the privilege of serving as executive champion of the Asian Pacific Associates Network (APAN), and I continue to hear and share concerns about the growth of anti-Asian sentiment and violence we've seen across the country. The words of Malala Yousafzai, the world's youngest Nobel Prize laureate, remain with me, "when the whole world is silent, even one voice becomes powerful." Thank you for raising your voices as individuals and collectively. We are stronger together. I'm encouraged by the work of Walmart and the Walmart Foundation to fund and support organizations including The Asian American Foundation (TAAF) and Center for Asian Pacific American Women, both of which seek to advance equity and inclusion on behalf of the AAPI community. We are also continuing to celebrate AAPI associates and businesses through experiences on Walmart.com and SamsClub.com in support of AAPI Heritage Month. Within the workplace, we are also seeing positive signs of growth. Findings from our upcoming Culture, Diversity, Equity and Inclusion 2021 Annual Report, which will be released later this month, reflect that management representation for our U.S. workforce is 11.82% Asian and Pacific Islander. Additionally, opportunities for advancement are strong for our Asian and Pacific Islander associates who saw 11.97% of all management-to-management promotions. Representation matters, and these indicators speak to the continued growth of the AAPI community at Walmart. As a technologist, I believe that diversity drives innovation, and it also is a critical component of creating a place where everyone feels they belong. Source: Company Website May 02, 2022: Walmart Fuses Fashion and Fitness With New Activewear and Swim Brand by Designer Michelle Smith and Fitness Superstar Stacey Griffith As we continue to establish Walmart as a destination for fashion, we remain laser focused on expanding Walmart's assortment of quality, on-trend apparel and accessories at an incredible value. That includes strategic collaborations with designers and influencers to bring new collections to our portfolio of exclusive, elevated brands. Their fresh perspectives are resonating with our customers, and we love hearing all the wonderful feedback. Source: Company Website Apr 30, 2022: Quarterly Activities Report: Walmart Cash Balance decreases 20% As per a report dated April 30, 2022 the Cash Burn of operating activities was $3,758,000,000 in the quarter ended April 30, 2022. This corresponds to an average Cash Burn Rate of $1,252,666,667 per month. To support this Cash Burn Rate, the cash balance of $11,882,000,000 as at April 30, 2022 should be adequate till February 09, 2023. The cash runway defined by the length of time to run out of money if it kept spending at its current rate of cash burn is 8 months and 4 days from today's date.
Apr 19, 2022: Walmart and Sams Club Reach Food Donation Milestone Big changes are often slow going. Not because we want them to be, but because it takes time to make massive impact. Since 2006, Walmart and Sam's Club have been donating food to local Feeding America(Registered) member food banks, and this month marked a major milestone: We hit 7 billion pounds of food donated. We couldn't have reached this milestone without our associates, who started this program and continue to make it work every day so we can give back in each of our communities across the country. Source: Company Website Apr 07, 2022: A Whole New Approach to Health Walton Family supports development of two key amenity buildings on Walmart's new Home Office campus to support the well-being of associates and their families Source: Company Website Mar 18, 2022: Walmart: Risk Factors RISK FACTORS The risks described below could, in ways we may or may not be able to accurately predict, materially and adversely affect our business, results of operations, financial position and liquidity. Our business operations could also be affected by additional factors that apply to all companies operating in the U.S. and globally. The following risk factors do not identify all risks that we may face. Strategic Risks Failure to successfully execute our omni-channel strategy and the cost of our investments in eCommerce and technology may materially adversely affect our market position, net sales and financial performance. The retail business continues to rapidly evolve and consumers increasingly embrace digital shopping. As a result, the portion of total consumer expenditures with retailers and wholesale clubs occurring through digital platforms is increasing and the pace of this increase could continue to accelerate. Our strategy, which includes investments in eCommerce, technology, talent, supply chain automation, acquisitions, joint ventures, store remodels and other customer initiatives, may not adequately or effectively allow us to continue to grow our eCommerce business, increase comparable sales, maintain or grow our overall market position or otherwise offset the impact on the growth of our business of a moderated pace of new store and club openings. The success of this strategy will depend in large measure on our ability to continue building and delivering a seamless omni-channel shopping experience and interconnected ecosystem for our customers that deepens our relationships with our customers across our various businesses and partnerships and reinforces our overall flywheel strategy. The success of this strategy is further subject to the related risks discussed in this Item 1A. With the interconnected components of this flywheel strategy and an increasing allocation of capital expenditures focused on these initiatives, our failure to successfully execute on individual components of this strategy may adversely affect our market position, net sales and financial performance which could also result in impairment charges to intangible assets or other long-lived assets. In addition, a greater concentration of eCommerce sales, including increasing online grocery sales, could result in a reduction in the amount of traffic in our stores and clubs, which would, in turn, reduce the opportunities for cross-store or cross-club sales of merchandise that such traffic creates and could reduce our sales within our stores and clubs and materially adversely affect our financial performance. Furthermore, the cost of certain investments in eCommerce, technology, talent, automation, including any operating losses incurred, will adversely impact our financial performance in the short-term and failure to realize the benefits of these investments may adversely impact our financial performance over the longer term. If we do not timely identify or effectively respond to consumer trends or preferences, it could negatively affect our relationship with our customers, demand for the products and services we sell, our market share and the growth of our business. It is difficult to predict consistently and successfully the products and services our customers will demand and changes in their shopping patterns. The success of our business depends in part on how accurately we predict consumer demand, availability of merchandise, the related impact on the demand for existing products and services and the competitive environment. Price transparency, assortment of products, customer experience, convenience, ease and the speed and cost of shipping are of primary importance to customers and continue to increase in importance, particularly as a result of digital tools and social media available to consumers and the choices available to consumers for purchasing products. Our failure to adequately or effectively respond to changing consumer tastes, preferences (including those related to ESG issues) and shopping patterns, or any other failure on our part to timely identify or effectively respond to changing consumer tastes, preferences and shopping patterns could negatively affect our reputation and relationship with our customers, the demand for the products we sell or services we offer, our market share and the growth of our business. We face strong competition from other retailers, wholesale club operators, omni-channel retailers, and other businesses which could materially adversely affect our financial performance. Each of our segments competes for customers, employees, digital prominence, products and services and in other important aspects of its business with many other local, regional, national and global physical, eCommerce and omni-channel retailers, wholesale club operators and retail intermediaries, as well as companies that offer services in digital advertising, fulfillment and delivery services, health and wellness, and financial services. The omni-channel retail landscape is highly competitive and rapidly evolving, and the entry of new, well-funded competitors may increase competitive pressures. In addition, for eCommerce and other internet-based businesses, newer or smaller businesses may be better able to innovate and compete with us. We compete in a variety of ways, including the prices at which we sell our merchandise, merchandise selection and availability, services offered to customers, location, store hours, in-store amenities, the shopping convenience and overall shopping experience we offer, the attractiveness and ease of use of our digital platforms, cost and speed of and options for delivery to customers of merchandise purchased through our digital platforms or through our omni-channel integration of our physical and digital operations. A failure to respond effectively to competitive pressures and changes in the retail and other markets in which we operate, omni-channel innovations and omni-channel ecosystems developed by our competitors or delays or failure in execution of our strategy could materially adversely affect our financial performance. See "Item 1. Business" above for additional discussion of the competitive situation of each of our reportable segments. Certain segments of the retail industry are undergoing consolidation or substantially reducing operations, whether due to bankruptcy, consolidation or other factors. Such consolidation, or other business combinations or alliances, competitive omni-channel ecosystems, or reductions in operations may result in competitors with greatly improved financial resources, improved access to merchandise, greater market penetration and other improvements in their competitive positions. Such business combinations or alliances could allow these companies to provide a wider variety of products and services at competitive prices, which could adversely affect our financial performance. General or macro-economic factors, both domestically and internationally, may materially adversely affect our financial performance. General economic conditions and other economic factors, globally or in one or more of the markets we serve, may adversely affect our financial performance. Higher interest rates, lower or higher prices of petroleum products, including crude oil, natural gas, gasoline, and diesel fuel, higher costs for electricity and other energy, weakness in the housing market, inflation, deflation, increased costs of essential services, such as medical care and utilities, higher levels of unemployment, decreases in consumer disposable income, unavailability of consumer credit, higher consumer debt levels, changes in consumer spending and shopping patterns, fluctuations in currency exchange rates, higher tax rates, imposition of new taxes or other changes in tax laws, changes in healthcare laws, other regulatory changes, the imposition of tariffs or other measures that create barriers to or increase the costs associated with international trade, overall economic slowdown or recession and other economic factors in the U.S. or in any of the other markets in which we operate could adversely affect consumer demand for the products and services we sell in the U.S. or such other markets, change the mix of products we sell to one with a lower average gross margin, cause a slowdown in discretionary purchases of goods, adversely affect our net sales and result in slower inventory turnover and greater markdowns of inventory, or otherwise materially adversely affect our operations and operating results and could result in impairment charges to intangible assets, goodwill or other long-lived assets. In addition, the economic factors listed above, any other economic factors or circumstances resulting in higher transportation, labor, insurance or healthcare costs or commodity prices, and other economic factors in the U.S. and other countries in which we operate can increase our cost of sales and operating, selling, general and administrative expenses and otherwise materially adversely affect our operations and operating results. The economic factors that affect our operations may also adversely affect the operations of our suppliers, which can result in an increase in the cost to us of the goods we sell to our customers or, in more extreme cases, in certain suppliers not producing goods in the volume typically available to us for sale. The performance of strategic alliances and other business relationships to support the expansion of our business could materially adversely affect our financial performance. We may enter into strategic alliances and other business relationships in the countries in which we have existing operations or in other markets to expand our business. These arrangements may not generate the level of sales we anticipate when entering into the arrangement or may otherwise adversely impact our business and competitive position relative to the results we could have achieved in the absence of such alliance. In addition, any investment we make in connection with a strategic alliance, business relationship or in certain of our recently divested markets, could materially adversely affect our financial performance. Operational Risks The impact of the COVID-19 pandemic on our business, financial position and results of operations continues to be unpredictable, and we may be unable to sustain our revenue growth rate in the future. The impacts of the COVID-19 pandemic continue to be highly unpredictable and volatile in light of the potential for a resurgence of infection rates or as a result of future mutations, variants, or related strains of the virus. Recent years have demonstrated the widespread and varying impacts of the pandemic on certain business operations, demand for our products and services, in-stock positions, costs of doing business, access to inventory, supply chain operations, the extent and duration of measures to try to contain the virus (such as travel bans and restrictions, quarantines, shelter-in-place orders, business and government shutdowns, and other restrictions on retailers), our ability to predict future performance, exposure to litigation, and our financial performance, among other things. Customer behaviors have changed rapidly during the course of the COVID-19 pandemic. In the event of a resurgence of infections or future mutations, variants or related strains of the virus become prevalent, customer demand for certain products may fluctuate and customer behaviors may change, which may challenge our ability to anticipate and/or adjust inventory levels to meet that demand. These factors may result in higher out-of-stock positions in certain products, as well as delays in delivering those products, and could impact inventory levels in the future. Other factors and uncertainties include, but are not limited to: the severity and duration of the pandemic, including whether there are additional outbreaks or spikes in the number of COVID-19 cases, future mutations or related strains of the virus in areas in which we and our suppliers operate; further increased operational costs associated with operating during a global pandemic; evolving macroeconomic factors, including general economic uncertainty, unemployment rates, and recessionary pressures; unknown consequences on our business performance and initiatives stemming from the substantial investment of time, capital and other resources to the pandemic response; the effectiveness and extent of administration of vaccinations and medical treatments for COVID-19 or other variants; the pace of recovery when the pandemic subsides; and the long-term impact of the COVID-19 pandemic on our business, including consumer behaviors. These risks and their impacts are difficult to predict and could otherwise disrupt and adversely affect our operations and our financial performance. The COVID-19 pandemic has led to increased revenue growth relative to historic trends, and has particularly accelerated our eCommerce growth. These results, as well as those of other metrics such as net income and other financial and operating data, may not be indicative of results for future periods. Once the impact of the COVID-19 pandemic subsides, particularly as vaccines become more widely available, and customers return to work or school or are otherwise no longer subject to the aforementioned containment directives and similar mandates, a failure by us to continue capitalizing on growth opportunities may result in declining revenue and future operating results may fall below expectations. To the extent that the COVID-19 pandemic continues to adversely affect the U.S. and the global economy, it may also heighten other risks described in this section, including but not limited to those related to consumer behavior and expectations, competition, our reputation, implementation of strategic initiatives, cybersecurity threats, payment-related risks, technology systems disruption, supply chain disruptions, labor availability and cost, litigation, and regulatory requirements. Natural disasters, climate change, geopolitical events, global health epidemics or pandemics and catastrophic events could materially adversely affect our financial performance. The occurrence of one or more natural disasters, such as hurricanes, tropical storms, floods, fires, earthquakes, tsunamis, cyclones, typhoons; weather conditions such as major or extended winter storms, droughts and tornadoes, whether as a result of climate change or otherwise; geopolitical events; global health epidemics or pandemics or other contagious outbreaks such as the ongoing COVID-19 pandemic; and catastrophic events, such as war, civil unrest, terrorist attacks or other acts of violence, including active shooter situations (such as those that have occurred in our U.S. stores), in countries in which we operate, in which our suppliers are located, or in other areas of the world (such as in Ukraine where armed hostilities currently exist between Ukraine and Russia) could adversely affect our operations and financial performance. Such events could result in physical damage to, or the complete loss of, one or more of our properties, the closure of one or more stores, clubs and distribution or fulfillment centers, limitations on store or club operating hours, the lack of an adequate work force in a market, the inability of customers and associates to reach or have transportation to our stores and clubs affected by such events, the evacuation of the populace from areas in which our stores, clubs and distribution and fulfillment centers are located, the unavailability of our digital platforms to our customers, changes in the purchasing patterns of consumers (including the frequency of visits by consumers to physical retail locations, whether as a result of limitations on large gatherings, travel and movement limitations or otherwise) and in consumers' disposable income, the temporary or long-term disruption in the supply of products from some suppliers, the disruption in the transport of goods from overseas, the disruption or delay in the delivery of goods to our distribution and fulfillment centers or stores within a country in which we are operating, the reduction in the availability of products in our stores, increases in the costs of procuring products as a result of either reduced availability or economic sanctions, increased transportation costs (whether due to fuel prices, fuel supply, or otherwise), the disruption (whether directly or indirectly) of critical infrastructure systems, banking systems, utility services or energy availability to our stores, clubs and our facilities, and the disruption in our communications with our stores, clubs and our other facilities. Furthermore, the long-term impacts of climate change, whether involving physical risks (such as extreme weather conditions, drought, or rising sea levels) or transition risks (such as regulatory or technology changes) are expected to be widespread and unpredictable. Certain impacts of physical risk may include: temperature changes that increase the heating and cooling costs at stores, clubs, and distribution or fulfillment centers; extreme weather patterns that affect the production or sourcing of certain commodities; flooding and extreme storms that damage or destroy our buildings and inventory; and heat and extreme weather events that cause long-term disruption or threats to the habitability of the communities in which Walmart operates. Relative to transition risk, certain impacts may include: changes in energy and commodity prices driven by climate-related weather events; prolonged climate-related events affecting macroeconomic conditions with related effects on consumer spending and confidence; stakeholder perception of our engagement in climate-related policies; and new regulatory requirements resulting in higher compliance risk and operational costs. We bear the risk of losses incurred as a result of physical damage to, or destruction of, any stores, clubs and distribution or fulfillment centers, loss or spoilage of inventory and business interruption caused by such events. These events and their impacts could otherwise disrupt and adversely affect our operations and could materially adversely affect our financial performance. Risks associated with our suppliers could materially adversely affect our financial performance. The products we sell are sourced from a wide variety of domestic and international suppliers. Global sourcing of many of the products we sell is an important factor in our financial performance. We expect our suppliers to comply with applicable laws, including labor, safety, anti-corruption and environmental laws, and to otherwise meet our required supplier standards of conduct. Our ability to find qualified suppliers who uphold our standards, and to access products in a timely and efficient manner and in the large volumes we may demand, is a significant challenge, especially with respect to suppliers located and goods sourced outside the U.S. Political and economic instability, as well as other impactful events and circumstances in the countries in which our suppliers and their manufacturers are located (such as the ongoing COVID-19 pandemic), the financial instability of suppliers, suppliers' failure to meet our terms and conditions or our supplier standards (including our responsible sourcing standards), labor problems experienced by our suppliers and their manufacturers, the availability of raw materials to suppliers, merchandise safety and quality issues, disruption or delay in the transportation of merchandise from the suppliers and manufacturers to our stores, clubs, and other facilities, including as a result of labor slowdowns at any port at which a material amount of merchandise we purchase enters into the markets in which we operate, currency exchange rates, transport availability and cost, transport security, inflation and other factors relating to the suppliers and the countries in which they are located are beyond our control. In addition, the U.S. foreign trade policies, tariffs and other impositions on imported goods, trade sanctions imposed on certain countries and entities, the limitation on the importation of certain types of goods or of goods containing certain materials from other countries and other factors relating to foreign trade are beyond our control. These and other factors affecting our suppliers and our access to products could adversely affect our financial performance. If the products we sell are not safe or otherwise fail to meet our customers' expectations, we could lose customers, incur liability for any injuries suffered by customers using or consuming a product we sell or otherwise experience a material impact to our brand, reputation and financial performance. We are also subject to reputational and other risks related to third-party sales on our digital platforms. Our customers count on us to provide them with safe products. Concerns regarding the safety of food and non-food products that we source from our suppliers or that we prepare and then sell could cause customers to avoid purchasing certain products from us, or to seek alternative sources of supply for all of their food and non-food needs, even if the basis for the concern is outside of our control. Any lost confidence on the part of our customers would be difficult and costly to reestablish and such products also expose us to product liability or food safety claims. As such, any issue regarding the safety of any food or non-food items we sell, regardless of the cause, could adversely affect our brand, reputation and financial performance. In addition, third-parties sell goods on some of our digital platforms, which we refer to as marketplace transactions. Whether laws related to these marketplace transactions apply to us is currently unsettled and any unfavorable changes could expose us to loss of sales, reduction in transactions and deterioration of our competitive position. In addition, we may face reputational, financial and other risks, including liability, for third-party sales of goods that are controversial, counterfeit, pirated, or stolen, or otherwise fail to comply with applicable law or the proprietary rights of others. Although we impose contractual terms on sellers that are intended to prohibit sales of certain type of products, we may not be able to detect, enforce, or collect sufficient damages for breaches of such agreements. Any of these events could have a material adverse impact on our business and results of operations and impede the execution of our eCommerce growth and flywheel strategy. We rely extensively on information systems to process transactions, summarize results and manage our business. Disruptions in our systems could harm our ability to conduct our operations. Given the number of individual transactions we have each year, it is crucial that we maintain uninterrupted operation of our business-critical information systems. Our information systems are subject to damage or interruption from power outages, computer and telecommunications failures, computer viruses, worms, other malicious computer programs, denial-of-service attacks, security incidents and breaches (through cyberattacks, which may be from cybercriminals or sophisticated state-sponsored threat actors), catastrophic events such as fires, major or extended winter storms, tornadoes, earthquakes and hurricanes, usage errors by our associates or contractors, civil or political unrest, or armed hostilities. Our information systems are essential to our business operations, including the processing of transactions, management of our associates, facilities, logistics, inventories, physical stores and clubs and our online operations. Our information systems are not fully redundant and our disaster recovery planning cannot account for all eventualities. If our systems are damaged, breached, attacked, or cease to function properly, we may have to make a significant investment to repair or replace them, and may experience loss or corruption of critical data as well as suffer interruptions in our business operations in the interim. Any interruption to our information systems may have a material adverse effect on our business or results of operations. In addition, we frequently update our information technology hardware, software, processes and systems. The risk of system disruption is increased when significant system changes are undertaken. If we fail to timely integrate and update our information systems and processes, we may fail to realize the cost savings or operational benefits anticipated to be derived from these initiatives. If the technology-based systems that give our customers the ability to shop with us online do not function effectively, our operating results, as well as our ability to grow our omni-channel business globally, could be materially adversely affected. Increasingly, customers are using computers, tablets, and smart phones to shop with us and with our competitors and to do comparison shopping. We use social media, online advertising, and email to interact with our customers and as a means to enhance their shopping experience. As a part of our omni-channel sales strategy, we offer various pickup, delivery and shipping programs including options where many products available for purchase online can be picked up by the customer or member at a local Walmart store or Sam's Club, which provides additional customer traffic at such stores and clubs. Omni-channel retailing is a rapidly evolving part of the retail industry and of our operations around the world. We must anticipate and meet our customers' changing expectations while adjusting for technology investments and developments in our competitors' operations through focusing on the building and delivery of a seamless shopping experience across all channels by each operating segment. Any failure on our part to provide attractive, user-friendly secure digital platforms that offer a wide assortment of merchandise at competitive prices and with low cost and rapid delivery options and that continually meet the changing expectations of online shoppers and developments in online and digital platform merchandising and related technology could place us at a competitive disadvantage, result in the loss of eCommerce and other sales, harm our reputation with customers, have a material adverse impact on the growth of our eCommerce business globally and have a material adverse impact on our business and results of operations. Our digital platforms, which are increasingly important to our business and continue to grow in complexity and scope, and the systems on which they run, including those applications and systems in our acquired eCommerce businesses, are regularly subject to cyberattacks. Those attacks involve attempts to gain unauthorized access to our eCommerce websites (including marketplace platforms) or mobile commerce applications to obtain and misuse customers' or members' information including payment information and related risks discussed in this Item 1A. Such attacks, if successful, in addition to potential data misuse and/or loss, may also create denials of service or otherwise disable, degrade or sabotage one or more of our digital platforms or otherwise significantly disrupt our customers' and members' shopping experience, our supply chain integrity and continuity, and our ability to efficiently operate our business. If we are unable to maintain the security of our digital platforms and keep them operating within acceptable parameters, we could suffer loss of sales, reductions in transactions, reputational damage and deterioration of our competitive position and incur liability for any damage to customers or others whose personal or confidential information is unlawfully obtained and misused, any of which events could have a material adverse impact on our business and results of operations and impede the execution of our strategy for the growth of our business. Any failure to maintain the privacy or security of the information relating to our company, customers, members, associates and vendors, whether as a result of cyberattacks on our information systems or otherwise, could damage our reputation, result in litigation or other legal actions against us, cause us to incur substantial additional costs, and materially adversely affect our business and operating results. Like most retailers, we receive and store in our information systems personal information about our customers and members, and we receive and store information concerning our associates and vendors. Some of that information is stored digitally in connection with the digital platforms that we use to conduct and facilitate our various businesses. In addition, we and our third-party service providers store and maintain health-related personal information, pharmacy, and medical records in connection with our health and wellness and pharmacy business. We also utilize third-party service providers for a variety of reasons, including, without limitation, for digital storage technology, content delivery to customers and members, back-office support, and other functions. Such providers may have access to information we hold about our customers, members, associates or vendors. In addition, our eCommerce operations depend upon the secure transmission of confidential information over public networks, including information permitting cashless payments. Cyber threats are rapidly evolving and those threats and the means for obtaining access to information in digital and other storage media are becoming increasingly sophisticated and frequent. Attacks against information systems and devices, whether our own or those of our third-party service providers, create risk of cybersecurity incidents, including ransomware, malware, phishing incidents. We expect to continue to experience such attempted attacks in the future. Cyberattacks and threat actors can be sponsored by particular countries or sophisticated criminal organizations or be the work of hackers with a wide range of motives and expertise. We and the businesses with which we interact have experienced and continue to experience threats to data and systems, including by perpetrators of random or targeted malicious cyberattacks, computer viruses, phishing incidents, worms, bot attacks, ransomware or other destructive or disruptive software and attempts to misappropriate customer information, including credit card and payment information, and cause system failures and disruptions. Mitigation and remediation recommendations continue to evolve, and addressing vulnerabilities is a priority for us. The increased use of remote work infrastructure due to the COVID-19 pandemic has also increased the possible attack surfaces. Some of our systems and third-party service providers' systems have experienced security incidents or breaches and although they did not have a material adverse effect on our operating results, there can be no assurance of a similar result in the future. Associate error or malfeasance, faulty password management, social engineering or other vulnerabilities and irregularities may also result in a defeat of our or our third-party service providers' security measures and a compromise or breach of our or their information systems. Moreover, hardware, software or applications we use may have inherent vulnerabilities or defects of design, manufacture or operations or could be inadvertently or intentionally implemented or used in a manner that could compromise information security. Any compromise of our data security systems or of those of businesses with which we interact, which results in confidential information being accessed, obtained, damaged, disclosed, destroyed, modified, lost or used by unauthorized persons could harm our reputation and expose us to regulatory actions (including, with respect to health information, liability under the Health Insurance Portability and Accountability Act of 1996, or "HIPAA"), customer attrition, remediation expenses, and claims from customers, members, associates, vendors, financial institutions, payment card networks and other persons, any of which could materially and adversely affect our business operations, financial position and results of operations. Because the techniques used to obtain unauthorized access, disable or degrade service, or sabotage systems change frequently and may not immediately produce signs of a compromise, we may be unable to anticipate these techniques or to implement adequate preventative measures and we or our third-party service providers may not discover any security event, breach, vulnerability or compromise of information for a significant period of time after the security incident occurs. To the extent that any cyberattack, ransomware or incursion in our or one of our third-party service provider's information systems results in the loss, damage, misappropriation or other compromise of information, we may be materially adversely affected by claims from customers, financial institutions, regulatory authorities, payment card networks and others. Our compliance programs, information technology, and enterprise risk management efforts cannot eliminate all systemic risk. Disruptions in our systems caused by security incidents, breaches or cyberattacks - including attacks on those parties we do business with (such as strategic partners, suppliers, banks, or utility companies) - could harm our ability to conduct our operations, which may have a material effect on us, may result in losses that could have a material adverse effect on our financial position or results of operations, or may have a cascading effect that adversely impacts our partners, third-party service providers, customers, financial services firms, and other third parties that we interact with on a regular basis. In addition, such security-related events could be widely publicized and could materially adversely affect our reputation with our customers, members, associates, vendors and shareholders, could harm our competitive position particularly with respect to our eCommerce operations, and could result in a material reduction in our net sales in our eCommerce operations, as well as in our stores thereby materially adversely affecting our operations, net sales, results of operations, financial position, cash flows and liquidity. Such events could also result in the release to the public of confidential information about our operations and financial position and performance and could result in litigation or other legal actions against us or the imposition of penalties, fines, fees or liabilities, which may not be covered by our insurance policies. Moreover, a security compromise or ransomware event could require us to devote significant management resources to address the problems created by the issue and to expend significant additional resources to upgrade further the security measures we employ to guard personal and confidential information against cyberattacks and other attempts to access or otherwise compromise such information and could result in a disruption of our operations, particularly our digital operations. We accept payments using a variety of methods, including cash, checks, credit and debit cards, and our private label credit cards and gift cards, and we may offer new payment options over time, which may have information security risk implications. As a retailer accepting debit and credit cards for payment, we are subject to various industry data protection standards and protocols, such as payment network security operating guidelines and the Payment Card Industry Data Security Standard. We cannot be certain that the security measures we maintain to protect all of our information technology systems are able to prevent, contain or detect cyberattacks, cyberterrorism, security incidents, breaches, or other compromises from known malware or ransomware or other threats that may be developed in the future. In certain circumstances, our contracts with payment card processors and payment card networks (such as Visa, Mastercard, American Express and Discover) generally require us to adhere to payment card network rules which could make us liable to payment card issuers and others if information in connection with payment cards and payment card transactions that we process is compromised, which liabilities could be substantial. Additionally, through various financial service partners, we offer money transfers, digital payment platforms, bill payment, money orders, check cashing, prepaid access, co-branded credits cards, installment lending, and earned wage access. These products and services require us to comply with legal and regulatory requirements, including global anti-money laundering and sanctions laws and regulations as well as international, federal and state consumer financial laws and regulations. Failure to comply with these laws and regulations could result in fines, sanctions, penalties and harm to our reputation. The Company also has compliance obligations associated with privacy laws enacted to protect and regulate the collection, use, retention, disclosure and transfer of personal information, which include liability for security and privacy breaches. Among other obligations, breaches may trigger obligations under federal and state laws to notify affected individuals, government agencies and the media. Consequently, cybersecurity attacks that cause a data breach could subject us to fines, sanctions and other legal liability and harm our reputation. Changes in the results of our health and wellness business could adversely affect our overall results of operations, cash flows and liquidity. Walmart has retail pharmacy operations in our Walmart U.S. and Sam's Club segments, as well as the recent addition of Walmart Health locations in a number of states which offer medical, dental, optometry, immunizations, and other health services. A large majority of our retail pharmacy net sales are generated by filling prescriptions for which we receive payment through established contractual relationships with third-party payers and payment administrators, such as private insurers, governmental agencies and pharmacy benefit managers ("PBMs"). These operations are subject to numerous risks, including: reductions in the third-party reimbursement rates for drugs; changes in our payer mix (i.e., shifts in the relative distribution of our pharmacy customers across drug insurance plans and programs toward plans and programs with less favorable reimbursement terms); changes in third-party payer drug formularies (i.e., the schedule of prescription drugs approved for reimbursement or which otherwise receive preferential coverage treatment); growth in, and our participation in or exclusion from, pharmacy payer network arrangements including exclusive and preferred pharmacy network arrangements operated by PBMs and/or any insurance plan or program; increases in the prices we pay for brand name and generic prescription drugs we sell; increases in the administrative burdens associated with seeking third-party reimbursement; changes in the frequency with which new brand name pharmaceuticals become available to consumers; introduction of lower cost generic drugs as substitutes for existing brand name drugs for which there was no prior generic drug competition; changes in drug mix (i.e., the relative distribution of drugs customers purchase at our pharmacies between brands and generics); changes in the health insurance market generally; changes in the scope of or the elimination of Medicare Part D or Medicaid drug programs; increased competition from other retail pharmacy operations including competitors offering online retail pharmacy options with or without home delivery options; further consolidation and strategic alliances among third-party payers, PBMs or purchasers of drugs; overall economic conditions and the ability of our pharmacy customers to pay for drugs prescribed for them to the extent the costs are not reimbursed by a third-party; failure to meet any performance or incentive thresholds to which our level of third-party reimbursement may be subject; changes in laws or regulations or the practices of third-party payers and PBMs related to the use of third-party financial assistance to assist our pharmacy customers with paying for drugs prescribed for them; and any additional changes in the regulatory environment for the retail pharmacy industry and the pharmaceutical industry, including as a result of restrictions on the further implementation of or the repeal of the Patient Protection and Affordable Care Act or the enactment and implementation of a law replacing such act, and other changes in laws, rules and regulations that affect our retail pharmacy business. If the supply of certain pharmaceuticals provided by one or more of our vendors were to be disrupted for any reason, our pharmacy operations could be severely affected until at least such time as we could obtain a new supplier for such pharmaceuticals. Any such disruption could cause reputational damage and result in a significant number of our pharmacy customers transferring their prescriptions to other pharmacies. One or a combination of such factors may adversely affect the volumes of brand name and generic pharmaceuticals we sell, our cost of sales associated with our retail pharmacy operations, and the net sales and gross margin of those operations or result in the loss of cross-store or cross-club selling opportunities and, in turn, adversely affect our overall net sales, other results of operations, cash flows and liquidity. Our failure to attract and retain qualified associates, increases in wage and benefit costs, changes in laws and other labor issues could materially adversely affect our financial performance. Our ability to continue to conduct and expand our operations depends on our ability to attract and retain a large and growing number of qualified associates globally. Our ability to meet our labor needs, including our ability to find qualified personnel to fill positions that become vacant at our existing stores, clubs, distribution and fulfillment centers and corporate offices, while controlling our associate wage and related labor costs, is generally subject to numerous external factors, including the availability of a sufficient number of qualified persons in the work force of the markets in which we operate, unemployment levels within those markets, prevailing wage rates, changing demographics, health and other insurance costs and adoption of new or revised employment and labor laws and regulations. Additionally, our ability to successfully execute organizational changes, including management transitions within the Company's senior leadership, and to effectively motivate and retain associates are critical to our business success. If we are unable to locate, attract or retain qualified personnel, or manage leadership transition successfully, the quality of service we provide to our customers may decrease and our financial performance may be adversely affected. In addition, if our costs of labor or related costs increase for other reasons or if new or revised labor laws, rules or regulations or healthcare laws are adopted or implemented that further increase our labor costs, our financial performance could be materially adversely affected. Financial Risks Failure to meet market expectations for our financial performance could adversely affect the market price and volatility of our stock. We believe that the price of our stock generally reflects high market expectations for our future operating results. Any failure to meet or delay in meeting these expectations, including our consolidated net sales, consolidated operating income, capital expenditures, comparable store and club sales growth rates, eCommerce growth rates, gross margin, or earnings and adjusted earnings per share could cause the market price of our stock to decline, as could changes in our dividend or stock repurchase programs or policies, changes in our effective tax rates, changes in our financial estimates and recommendations by securities analysts or, failure of Walmart's performance to compare favorably to that of other retailers may have a negative effect on the price of our stock. Fluctuations in foreign exchange rates may materially adversely affect our financial performance and our reported results of operations. Our operations in countries other than the U.S. are conducted primarily in the local currencies of those countries. Our Consolidated Financial Statements are denominated in U.S. dollars, and to prepare those financial statements we must translate the amounts of the assets, liabilities, net sales, other revenues and expenses of our operations outside of the U.S. from local currencies into U.S. dollars using exchange rates for the current period. In recent years, fluctuations in currency exchange rates that were unfavorable have had adverse effects on our reported results of operations. As a result of such translations, fluctuations in currency exchange rates from period-to-period that are unfavorable to us may also result in our Consolidated Financial Statements reflecting significant adverse period-over-period changes in our financial performance or reflecting a period-over-period improvement in our financial performance that is not as robust as it would be without such fluctuations in the currency exchange rates. Such unfavorable currency exchange rate fluctuations will adversely affect the reported performance of our Walmart International operating segment and have a corresponding adverse effect on our reported consolidated results of operations. We may pay for products we purchase for sale in our stores and clubs around the world with a currency other than the local currency of the country in which the goods will be sold. When we must acquire the currency to pay for such products and the exchange rates for the payment currency fluctuate in a manner unfavorable to us, our cost of sales may increase and we may be unable or unwilling to change the prices at which we sell those goods to address that increase in our costs, with a corresponding adverse effect on our gross profit. Consequently, unfavorable fluctuations in currency exchange rates have and may continue to adversely affect our results of operations. Legal, Tax, Regulatory, Compliance, Reputational and Other Risks Our international operations subject us to legislative, judicial, accounting, legal, regulatory, tax, political and economic risks and conditions specific to the countries or regions in which we operate, which could materially adversely affect our business or financial performance. In addition to our U.S. operations, we operate our retail business in Africa, Canada, Central America, Chile, China, India and Mexico. During fiscal 2022, our Walmart International operations generated approximately 18% of our consolidated net sales. Walmart International's operations in various countries also source goods and services from other countries. Our future operating results in these countries could be negatively affected by a variety of factors, most of which are beyond our control. These factors include political conditions, including political instability, local and global economic conditions, legal and regulatory constraints (such as regulation of product and service offerings including regulatory restrictions (such as foreign ownership restrictions) on eCommerce and retail operations in international markets, such as India), restrictive governmental actions (such as trade protection measures), antitrust and competition law regulatory matters (such as the competition investigations currently underway in Mexico related to our subsidiary Wal-Mart de Mexico, in Canada related to our subsidiary Wal-Mart Canada and competition proceedings in India related to our Flipkart subsidiary), local product safety and environmental laws, tax regulations, local labor laws, anti-money laundering laws and regulations, trade policies, currency regulations, laws and regulations regarding consumer and data protection, and other matters in any of the countries or regions in which we operate, now or in the future. The economies of some of the countries in which we have operations have in the past suffered from high rates of inflation and currency devaluations, which, if they occurred again, could adversely affect our financial performance. Other factors which may impact our international operations include foreign trade, monetary and fiscal policies of the U.S. and of other countries, laws, regulations and other activities of foreign governments, agencies and similar organizations, and risks associated with having numerous facilities located in countries that have historically been less stable than the U.S. Additional risks inherent in our international operations generally include, among others, the costs and difficulties of managing international operations, adverse tax consequences and greater difficulty in enforcing intellectual property rights in countries other than the U.S. The various risks inherent in doing business in the U.S. generally also exist when doing business outside of the U.S., and may be exaggerated by the difficulty of doing business in numerous sovereign jurisdictions due to differences in culture, laws and regulations. In foreign countries in which we have operations, a risk exists that our associates, contractors or agents could, in contravention of our policies, engage in business practices prohibited by U.S. laws and regulations applicable to us, such as the Foreign Corrupt Practices Act or the laws and regulations of other countries. We maintain a global policy prohibiting such business practices and have in place a global anti-corruption compliance program designed to ensure compliance with these laws and regulations. Nevertheless, we remain subject to the risk that one or more of our associates, contractors or agents, including those based in or from countries where practices that violate such U.S. laws and regulations or the laws and regulations of other countries may be customary, will engage in business practices that are prohibited by our policies, circumvent our compliance programs and, by doing so, violate such laws and regulations. Any such violations, even if prohibited by our internal policies, could adversely affect our business or financial performance and our reputation. Changes in tax and trade laws and regulations could materially adversely affect our financial performance. In fiscal 2022, our Walmart U.S. and Sam's Club operating segments generated approximately 82% of our consolidated net sales. Significant changes in tax and trade policies, including tariffs and government regulations affecting trade between the U.S. and other countries where we source many of the products we sell in our stores and clubs could have an adverse effect on our business and financial performance. A significant portion of the general merchandise we sell in our U.S. stores and clubs is manufactured in other countries. Any such actions including the imposition of further tariffs on imports could increase the cost to us of such merchandise (whether imported directly or indirectly) and cause increases in the prices at which we sell such merchandise to our customers, which could materially adversely affect the financial performance of our U.S. operations and our business. We are subject to income taxes and other taxes in both the U.S. and the foreign jurisdictions in which we currently operate or have historically operated. The determination of our worldwide provision for income taxes and current and deferred tax assets and liabilities requires judgment and estimation. Our income taxes could be materially adversely affected by earnings being lower than anticipated in jurisdictions that have lower statutory tax rates and higher than anticipated in jurisdictions that have higher statutory tax rates, by changes in the valuation of our deferred tax assets and liabilities, or by changes in worldwide tax laws, tax rates, regulations or accounting principles. We are also exposed to future tax legislation, as well as the issuance of future regulations and changes in administrative interpretations of existing tax laws, any of which can impact our current and future years' tax provision. The effect of such changes in tax law could have a material effect on our business, financial position and results of operations. In the U.S., the Tax Cuts and Jobs Act of 2017 (the "Tax Act") significantly changed federal income tax laws that affect U.S. corporations. As further guidance is issued by the U.S. Treasury Department, the IRS, and other standard-setting bodies, any resulting changes in our estimates will be treated in accordance with the relevant accounting guidance. Compliance with the Tax Act and any other new tax rules, regulations, guidance, and interpretations, including collecting information not regularly produced by the Company or unexpected changes in our estimates, may require us to incur additional costs and could affect our results of operations. In addition, legislatures and taxing authorities in many jurisdictions in which we operate may enact changes to their tax rules. These changes could include modifications that have temporary effect and more permanent changes. The impact of these potential new rules as well as any other changes in domestic and international tax rules and regulations could have a material effect on our effective tax rate. Furthermore, we are subject to regular review and audit by both domestic and foreign tax authorities as well as subject to the prospective and retrospective effects of changing tax regulations and legislation. Although we believe our tax estimates are reasonable, the ultimate tax outcome may materially differ from the tax amounts recorded in our Consolidated Financial Statements and may materially affect our income tax provision, net income, or cash flows in the period or periods for which such determination and settlement is made. Changes in and/or failure to comply with other laws, regulations, and interpretations of such laws and regulations specific to the businesses and jurisdictions in which we operate could materially adversely affect our reputation, market position, or our business and financial performance. We operate in complex regulated environments in the U.S. and in the other countries in which we operate and could be adversely affected by changes to existing legal requirements including the related interpretations and enforcement practices, new legal requirements and/or any failure to comply with applicable regulations. Our operations in the U.S. are subject to numerous federal, state and local regulations including licensing and other requirements and reimbursement arrangements affecting our health and wellness operations. The laws and regulations to which we are subject include, but are not limited to: federal and state registration and regulation of pharmacies; dispensing and sale of controlled substances and products containing pseudoephedrine; applicable governmental payer regulations including Medicare and Medicaid; data privacy and security laws and regulations including the Health Insurance Portability and Accountability Act and the Affordable Care Act; laws and regulations relating to the protection of the environment and health and safety matters, including those governing exposure to, and the management and disposal of, hazardous substances; regulations regarding food and drug safety including those of the U.S. Food and Drug Administration (the "FDA") and the Drug Enforcement Administration (the "DEA"); trade regulations including those of the U.S. Federal Trade Commission, the U.S. Department of the Treasury, and consumer protection and safety regulations including those of the Consumer Product Safety Commission, as well as state regulatory authorities, governing the availability, sale, advertisement and promotion of products we sell and the financial services we offer (including through our digital channels and stores and clubs as well as our previously announced fintech joint venture); anti-kickback laws; anti-money laundering laws; consumer financial protection laws; the Office of Foreign Assets Control regulations; false claims laws; patient inducement regulations; and federal and state laws governing health care fraud and abuse, quality and standards of medical equipment, and the qualifications and practice of the professions of medical, pharmacy, optical care and health care services. For example, in the U.S., the DEA and various other regulatory authorities regulate the purchase, distribution, maintenance and dispensing of pharmaceuticals and controlled substances. We are required to hold valid DEA and state-level licenses, meet various security and operating standards and comply with the federal and various state controlled substance acts and related regulations governing the sale, dispensing, disposal and holding of controlled substances. The DEA, the FDA and state regulatory authorities have broad enforcement powers, including the ability to seize or recall products and impose significant criminal, civil and administrative sanctions for violations of these laws and regulations. In addition, other health-related legislation at the federal and state level may have an adverse effect on our business or require us to modify certain aspects of our operations. Also, upon the successful completion of the previously announced pending acquisitions by our fintech joint venture, there may be an increased degree of scrutiny by financial regulatory authorities over the newly acquired fintech related businesses, which may result in higher operational costs and an increased possibility for fines and penalties if there is non-compliance with the applicable laws and regulations. We are also governed by foreign, national and state laws and regulations of general applicability, including laws and regulations related to working conditions, health and safety, equal employment opportunity, employee benefit and other labor and employment matters, laws and regulations related to competition and antitrust matters, and health and wellness related regulations for our pharmacy operations outside of the U.S. Increasing governmental and societal attention to ESG matters, including expanding mandatory and voluntary reporting diligence, and disclosure topics such as climate change, sustainability (including with respect to our supply chain), natural resources, waste reduction, energy, human capital, and risk oversight could expand the nature, scope, and complexity of matters that we are required to control, assess, and report. In addition, certain financial services we offer or make available are subject to legal and regulatory requirements, including those intended to help detect and prevent money laundering, fraud and other illicit activity as well as consumer financial protections laws and U.S. sanctions. We are also subject to data privacy and protection laws regulating the collection, use, retention, disclosure, transfer and processing of personal information, such as the California Consumer Privacy Act ("CCPA"), which was significantly modified by the California Privacy Rights Act ("CPRA"), new comprehensive privacy legislation passed in 2021 in Virginia and Colorado, as well as the European Union's General Data Protection Regulation ("GDPR") and China's Personal Information Protection Act. The potential effects of these laws are far-reaching and may require us to modify our data processing practices and policies and to incur substantial costs and expenses to comply. In the case of non-compliance with a material provision of the GDPR (such as non-adherence to the core principles of processing personal data), regulators have the authority to levy a fine in an amount that is up to the greater of EUR20 million or 4% of global annual turnover in the prior year. These administrative fines are discretionary and based, in each case, on a multi-factored approach. Residents in jurisdictions with comprehensive privacy laws have expanded rights to access, correct and require deletion of their personal information, opt out of certain personal information sharing and receive detailed information about how their personal information is used. The CCPA and CPRA provide for civil penalties for violations, as well as a private right of action for data breaches. Furthermore, our marketing and customer engagement activities are subject to communications privacy laws such as the Telephone Consumer Protection Act. We may be subjected to penalties and other consequences for noncompliance, including changing some portions of our business. Even an unsuccessful challenge by customer or regulatory authorities of our activities could result in adverse publicity and could require a costly response from and defense by us. The impact of new laws, regulations and policies and the related interpretations, as well as changes in enforcement practices or regulatory scrutiny generally cannot be predicted, and changes in applicable laws, regulations and policies and the related interpretations and enforcement practices may require extensive system and operational changes, be difficult to implement, increase our operating costs, require significant capital expenditures, or adversely impact the cost or attractiveness of the products or services we offer, or result in adverse publicity and harm our reputation. If we fail to respond adequately to changes, including by implementing strategic and operational initiatives, or do not respond as effectively as our competitors, our business, operations, and financial performance may be adversely affected. While we strive to adhere our practices and procedures to these laws, they are subject to evolving regulations, interpretations, enforcement priorities of regulatory authorities, and regulator discretion. The regulatory, political, and media scrutiny we face, which may continue, amplifies these risks. We may face audits or investigations by one or more government agencies relating to our compliance with applicable laws and regulations. To the extent a regulator or court disagrees with our interpretation of these laws and determines that our practices are not in compliance with applicable laws and regulations, we could be subject to civil and criminal penalties that could adversely affect the continued operation of our businesses, including: suspension of payments from government programs; loss of required government certifications; loss of authorizations to participate in or exclusion from government programs, including the Medicare and Medicaid programs in the U.S.; loss of licenses; termination from contractual relationships, including those with our drug suppliers and third-party payers; and significant fines or monetary damages and/or criminal and civil penalties. Failure to comply with applicable legal or regulatory requirements in the U.S. or in any of the countries in which we operate could result in significant legal and financial exposure, damage to our reputation, and have a material adverse effect on our business operations, financial position and results of operations. We are subject to risks related to litigation and other legal proceedings that may materially adversely affect our results of operations, financial position and liquidity. We operate in a highly regulated and litigious environment. We are involved in legal proceedings, including litigation, arbitration and other claims, and investigations, inspections, audits, claims, inquiries and similar actions by pharmacy, healthcare, tax, environmental and other governmental authorities. We may also have indemnification obligations for legal commitments of certain businesses we have divested. Legal proceedings, in general, and securities, derivative action and class action and multi-district litigation, in particular, can be expensive and disruptive. Some of these suits may purport or may be determined to be class actions and/or involve parties seeking large and/or indeterminate amounts, including punitive or exemplary damages, and may remain unresolved for several years. For example, we are currently a defendant in a number of cases containing class or collective-action allegations, or both, in which the plaintiffs have brought claims under federal and state wage and hour laws, as well as a number of cases containing class-action allegations in which the plaintiffs have brought claims under federal and state consumer laws. The Company has also been responding to subpoenas, information requests and investigations from governmental entities related to nationwide controlled substance dispensing and distribution practices involving opioids and is also a defendant in numerous litigation proceedings related to opioids, including the consolidated multidistrict litigation entitled In re National Prescription Opiate Litigation (MDL No. 2804) currently pending in the U.S. District Court for the Northern District of Ohio. Similar cases that name the Company have also been filed in state courts by state, local and tribal governments, health care providers and other plaintiffs. Plaintiffs are seeking compensatory and punitive damages, as well as injunctive relief including abatement. On October 22, 2020, the Company filed a declaratory judgment action in the U.S. District Court for the Eastern District of Texas against the U.S. Department of Justice (the "DOJ") and the U.S. Drug Enforcement Administration, asking a federal court to clarify the roles and responsibilities of pharmacists and pharmacies as to the dispensing and distribution of opioids under the Controlled Substances Act (the "CSA"). The Company's action was dismissed. The Company appealed this decision to the Fifth Circuit. On December 22, 2021, the Fifth Circuit affirmed the dismissal of the action. On December 22, 2020, the DOJ filed a civil complaint against the Company in the U.S. District Court for the District of Delaware alleging that the Company unlawfully dispensed controlled substances from its pharmacies and unlawfully distributed controlled substances to those pharmacies in violation of the CSA. The DOJ is seeking civil penalties and injunctive relief. The Company filed a motion to dismiss the DOJ complaint on February 22, 2021. Since that time, the District Court stayed further proceedings in the DOJ complaint pending the decision of the United States Supreme Court in two other cases interpreting the CSA, which have been consolidated into Ruan v. United States, 142 S. Ct. 457 (2021). In addition, the Company is the subject of a consolidated securities class action alleging violations of the federal securities laws regarding the Company's disclosures with respect to opioids filed in the U.S. District Court for the District of Delaware on January 20, 2021 purportedly on behalf of a class of investors who acquired Walmart stock from March 30, 2016 through December 22, 2020. On May 11, 2021 the U.S. District Court in Delaware consolidated the class actions and appointed a lead plaintiff and lead counsel. The defendants filed a motion to dismiss the consolidated securities class action on October 8, 2021; the lead plaintiff responded to the motion on January 10, 2022; and the defendants filed their reply brief on February 10, 2022. Two derivative actions were also filed by certain of the Company's shareholders in the U.S. District Court for the District of Delaware on February 9, 2021 and April 16, 2021 alleging breach of fiduciary duties against certain of the Company's current and former directors with respect to oversight of the Company's distribution and dispensing of opioids, and those suits have been stayed pending further developments in other Opioids litigation matters. Other shareholders filed a third derivative action making similar allegations in the Delaware Court of Chancery on September 27, 2021. The defendants in this derivative suit filed the opening brief on their motion to dismiss that case on December 21, 2021; and the plaintiffs responded by filing an amended complaint on February 22, 2022. The Company cannot predict the number of such claims that may be filed, and cannot reasonably estimate any loss or range of loss that may arise from such claims and the related opioid matters. We discuss these cases and other litigation to which we are party below under the caption "Item 3. Legal Proceedings" and in Note 10 in the "Notes to our Consolidated Financial Statements," which are part of this Annual Report on Form 10-K. Our amended and restated bylaws designate the Court of Chancery of the State of Delaware as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our shareholders, which could increase the costs for our shareholders to bring claims, discourage our shareholders from bringing claims, or limit our shareholders' ability to obtain a favorable judicial forum for disputes with us or our directors, officers, associates or shareholders in such capacity. Our bylaws provide that, unless we consent in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware will, to the fullest extent permitted by law, be the sole and exclusive forum for claims, including derivative claims that are based upon a violation of a duty by a current or former director, officer, associate or shareholder in such capacity or as to which the Delaware General Corporation Law confers jurisdiction upon the Court of Chancery. The exclusive forum provision may increase the costs for a shareholder to bring a claim or limit a shareholder's ability to bring a claim in a judicial forum that the shareholder finds favorable for disputes with us or our directors, officers, associates or shareholders in such capacity, which may discourage such lawsuits against us and such persons. Alternatively, if a court were to find these provisions of our bylaws inapplicable to, or unenforceable in respect of, the claims as to which they are intended to apply, then we may incur additional costs associated with resolving such matters in other jurisdictions, which could adversely affect our business, financial position or results of operations. While the exclusive forum provision applies to state and federal law claims, our shareholders will not be deemed to have waived our compliance with, and the exclusive forum provision will not preclude or contract the scope of exclusive federal or concurrent jurisdiction for actions brought under, the federal securities laws, including the Securities Exchange Act of 1934, as amended, or the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. Our reputation may be adversely affected if we are not able to achieve our ESG goals. We strive to deliver shared value through our business and our diverse stakeholders expect us to make significant progress in certain ESG priority issue areas. From time to time, we announce certain aspirations and goals relevant to our priority ESG issues. We periodically publish information about our ESG priorities, strategies, and progress on our corporate website and update our ESG reporting from time to time. Achievement of these aspirations and goals is subject to risks and uncertainties, many of which are outside of our control, and it is possible that we may fail, or be perceived to have failed, in the achievement of our ESG goals or certain of our customers, associates, shareholders, investors, suppliers, business partners, government agencies, and non-governmental organizations might not be satisfied with our efforts. Certain challenges we face in the achievement of our ESG objectives are also captured within our ESG reporting, which is not incorporated by reference into and does not form any part of this Annual Report on Form 10-K. A failure or perceived failure to meet our goals could adversely affect public perception of our business, associate morale or customer or shareholder support. Source: SEC 10-K Filling Mar 15, 2022: Walmart Makes Wellness More Accessible With New Services Launching Through Wellness Hub on Walmart.com At Walmart, we are committed to making wellness more accessible for our customers by offering a wide range of essential products and services at an incredible value. As a trusted health and wellness destination, we have worked hard to expand our assortment and services to ensure we're meeting customers' evolving needs. After the past couple years, many of us are inspired to rethink how we care for ourselves and loved ones, and 2022 provides a fresh start for renewed health and wellness goals. In fact, Walmart customers are feeling more ambitious than ever, with 90% planning on setting health and wellness-related goals this year*. That's why today, we're excited to announce two new and exclusive offerings that help make it simple, easy and affordable for our customers to live better. Walmart is the first retailer to exclusively offer BetterUp for Caregivers(TradeMark) and Easy Vitamin Plan subscriptions to customers across the U.S. The offerings, now available via the Wellness Hub include: Support for caregivers: BetterUp for Caregivers(TradeMark), a new and exclusive offering from Walmart and BetterUp, provides caregivers access to live group coaching circles led by a professional BetterUp coach, and includes customized tools and a community for support as they navigate daily challenges. Today, over 50 million Americans are caregivers, up from 43 million in 2015.**BetterUp is a human transformation company that helps people grow personally and professionally through coaching. Personalized vitamins: Easy Vitamin Plan has teamed up with Walmart to offer its personalized vitamin subscription plan to Walmart customers. Easy Vitamin Plan makes customized nutrition accessible and more affordable for Walmart customers by offering subscribers a 28-day supply of vitamins that meets their specific needs at an everyday low price. In addition to these two new offerings, customers also have access to over 50 laboratory-quality tests including COVID-19, digestive health, allergy, heart health and more with options for professional support and guidance from QuestDirect, accessible through Walmart's Wellness Hub. Working with leading providers to bring our customers services focused on personal coaching, personalized nutrition and at-home testing is one more way Walmart is making wellness more accessible and affordable, in turn helping empower customers to achieve their goals this year and beyond. With the launch of these services, we are building on the commitments and investments we've made over the past several years, and we will continue expanding our offerings to best serve our customers' health and wellness needs. Source: Company Website Mar 07, 2022: Walmart Teams Up With Space NK To Launch Prestige Beauty Featuring Top Beauty Brands Walmart and British retailer Space NK are teaming up to bring prestige beauty products to Walmart.com and nearly 250 Walmart stores nationwide this summer. The unique collaboration, called BEAUTYSPACENK, leverages Walmart's size and scale with the iconic British personal care and beauty company's assortment of high-quality beauty brands and products. Customers will now have a convenient way to shop both beauty staples and prestige specialty items during their weekly Walmart shopping trip. Space NK has thoughtfully curated a collection of prestige products specifically for the Walmart customer, spanning a variety of price points across skincare, makeup, haircare and bath and body. Available on Walmart.com March 15, BEAUTYSPACENK features over 600 products from 15 brands, including both new and established, some of which are only available at Walmart - with more to come throughout the year. Source: Company Website Mar 02, 2022: Events Calendar: Walmart To Participate in Both the Bank of America Securities 2022 Consumer & Retail Technology Conference and the UBS Global Consumer & Retail Conference Walmart Inc. (NYSE: WMT) announced today Brett Biggs, executive vice president and chief financial officer, will participate in the Bank of America Securities 2022 Consumer & Retail Technology Conference Wednesday, Mar. 9, at 3:30 p.m. EST, and the UBS Global Consumer & Retail Conference Thursday, Mar. 10, at 12:00 p.m. EST. Both sessions will be webcast live through the "Events" link at www.stock.walmart.com. Transcripts of these sessions will be available after the events and will be archived on the company's website. Source: Company Website Mar 02, 2022: Events Calendar: Walmart To Participate in Both the Bank of America Securities 2022 Consumer & Retail Technology Conference and the UBS Global Consumer & Retail Conference BENTONVILLE, Ark., Mar. 2, 2022 - Walmart Inc. (NYSE: WMT) announced today Brett Biggs, executive vice president and chief financial officer, will participate in the Bank of America Securities 2022 Consumer & Retail Technology Conference Wednesday, Mar. 9, at 3:30 p.m. EST, and the UBS Global Consumer & Retail Conference Thursday, Mar. 10, at 12:00 p.m. EST. Both sessions will be webcast live through the "Events" link at www.stock.walmart.com. Transcripts of these sessions will be available after the events and will be archived on the company's website. Source: Company Website Mar 02, 2022: Walmart Launches Zeekit Virtual Fitting Room Technology Over the past few years, we have successfully established Walmart as a destination for fashion, with an unrelenting focus on expanding our assortment of quality, on-trend and accessible apparel and accessories. We have equally prioritized the introduction of new and innovative shopping experiences that make it easier to shop for clothes online. To that end, I am excited to announce that, following our acquisition last year of Zeekit, creator of a leading dynamic virtual fitting room platform, we are now introducing the game-changing technology to Walmart customers. One of the most frustrating aspects of shopping for clothes online is understanding how an item will actually look on you. With Zeekit, our goal is to deliver an inclusive, immersive and personalized digital experience that will better replicate physical shopping. We are rolling out Zeekit technology to users of the Walmart app and Walmart.com, starting with the Choose My Model experience. This feature currently offers customers the ability to select from 50 models between 5'2" - 6'0" in height and sizes XS - XXXL. Customers can determine the model who best represents their height, body shape and skin tone to understand how an item will look on them. And we will continue to expand our model selection, with nearly 70 additional model options launching in the weeks ahead to offer an even wider range of sizes, skin tones and hair colors. Zeekit on mobile device Choose My Model is now available on select items across our portfolio of exclusive, elevated brands and private brands, including Free Assembly, Scoop, Sofia Jeans by Sofia Vergara, ELOQUII Elements, Time and Tru, Athletic Works, Terra & Sky, No Boundaries, Avia and The Pioneer Woman. We are also adding national brands, starting with Levi's and Hanes, and we'll continue to expand to new national brands in the coming months on Walmart.com and Walmart Marketplace. If an item is part of the Zeekit experience, customers will see the prompt to select a model on the item page. We have already seen a strong customer response to our Choose My Model experience. The extraordinary, positive customer feedback out of the gate underscores our opportunity and ability to solve a common online shopping problem and build a true, personal connection between Walmart and our customers. Zeekit was built with a vision to provide every person the chance to see themselves in any item of clothing found online, and that is a vision we share. Our new Choose My Model capability is just the beginning. We are also working to launch a virtual try-on experience for women's apparel, moving with speed to bring this groundbreaking technology to our customers. With Zeekit's visionary team, powered by the Walmart Global Technology platform in partnership with our Fashion Merchandising and ecommerce Site Merchandising organization, we have the incredible opportunity to revolutionize how our customers shop for clothes online. Source: Company Website Mar 02, 2022: Walmart Launches Zeekit Virtual Fitting Room Technology Over the past few years, we have successfully established Walmart as a destination for fashion, with an unrelenting focus on expanding our assortment of quality, on-trend and accessible apparel and accessories. We have equally prioritized the introduction of new and innovative shopping experiences that make it easier to shop for clothes online. Source: Company Website Feb 28, 2022: Working as Fulfillment Centers, Walmart Stores are the Star of the Last Mile The pace of change is fast. It always has been. And perhaps we're alone here, but that change has felt particularly fast of late. We've watched in real time as people foundationally changed their shopping habits, spurred not just by a global pandemic, but by the expectation for availability to also mean convenience. That need for convenience led to six times the number of customers using delivery in the fourth quarter compared to pre-pandemic levels, signaling a huge change in how our customers shop. And we've changed too. Over the last two years, we've been working hard to make delivery even faster for Walmart customers - shrinking the distance, and increasing the convenience, in the latest frontier: last-mile delivery. And we're not just doing it. We're doing it fast. We're redefining last-mile delivery by leveraging our stores as fulfillment centers and utilizing cutting-edge tech to take the guesswork out of deliveries, to reduce emissions, to make our supply chain network more efficient and to ultimately serve our customers in totally new ways. Transforming stores At the heart of our last-mile strategy is our stores. With 4,700 Walmart stores across the country, located within just 10 miles of 90% of the U.S. population, we're in the unique position to make these brick-and-mortar locations invaluable parts of our supply chain. And so, we have. In addition to serving customers in person, we serve customers whose journeys to their purchases can begin anywhere. It doesn't matter where the journey begins. The purchase always ends at their homes. With stores playing so many special roles, from pickup and delivery hubs to testing grounds for the latest technology, our stores couldn't keep operating like they always had. Our continuous drive to innovate has led us to increase pickup and delivery capacity by 20% last year, and we have plans to do so by another 35% this year. And as we continue to enhance store operations, it's clearer than ever why our massive store footprint is the quiet, even unexpected, advantage to driving change. Not only are our stores located all over the country, but they're also evolving alongside customers. In the last year alone, we increased the number of orders coming from our stores by 170%, which has led us to the next phase of store integration and evolution: Market Fulfillment Centers (MFC). Fulfilling customer desires These MFCs are poised to serve as automated fulfillment centers that are located within a Walmart store. An MFC's inventory is separate from the store's, allowing us to continue enhancing our service for both online and in-store customers. Both stores and MFCs are additional nodes in a deeply complex supply chain. The lengthening of that supply chain means quicker delivery. It's true: We're adding offerings, while shrinking the time between the moment our customers realize they want something and the moment they get it. If the store is the heart of our strategy, then our delivery network is its hands and feet. Unlike some of our competitors, we are integral parts of our communities - we exist as part of them. And our relationship with our customers, founded on trust, is exactly what's allowing us to turn our scale into innovation in delivery. Delivering convenience There is perhaps no clearer example of this than the rapid growth and expansion of Walmart InHome, the delivery service that takes items from our aisles straight into customers' homes. We are scaling this service to 30 million U.S. homes and hiring 3,000 additional associates to captain an entirely electric fleet of delivery vehicles. And our Spark Driver network, a proprietary delivery platform that connects drivers to opportunities, is also powering Walmart GoLocal, which offers our innovations in last-mile to businesses of all sizes around the country. By offering the same capabilities that have powered our own digital transformation, we're using our technology to fulfill our original promise to people: Walmart is here to help you live better. Whether that means you need a carton of eggs from one of our stores, or a bespoke candle from your favorite artisan across town, we can help you get it. The (autonomous) driver's seat Not everything delivering for Walmart has a driver's seat. Drones bring low emissions and high speed to our fleet as they make short work of small deliveries. Not only that, drones create new pathways for our associates, who are trained on totally new tech, developing skills they can carry through their careers. And autonomous vehicles, which do have a driver's seat, albeit an empty one, can navigate the streets under their own power, delivering items between stores to shorten delivery times, limit out-of-stocks and keep convenience at the center of a Walmart shopping experience. Changing the game Each of these innovations by themselves is great for customers. But when you view them all together, you realize how impressive the bigger picture really is here. Why? Because we're set up for a cycle of success, underpinned by the nationwide store distribution no one else has. Think about it like this: "As we continue to create new delivery options for customers and members, and new capabilities for Walmart GoLocal clients, we add density to the last mile," said Tom Ward, chief eCommerce officer, Walmart U.S. "With more density comes more opportunities for drivers, and more opportunities result in increased speed. This means we can get customers and clients their items even faster, all while helping lower costs. It's a happy cycle." Underpinning our next step into the last mile is technology. We've built a tech platform that powers our last-mile delivery ecosystem. Agnostic to supply and demand, and built around our own marketplace, the platform uses automation and machine learning to turn a near-infinite number of factors into usable data. And as it learns, it keeps getting better. "Our new platform is doing revolutionary things," explained Srini Venkatesan, the executive vice president for Walmart Global Tech. "With all these points of fulfillment/delivery in a sense 'communicating' with one another, we can plan replenishment at a shorter cycle, gain close-to-real-time insights of inventory and ultimately react to customer demand. All of that adds up to a single stellar shopping experience for Walmart customers." Using our size, scale and tendency to stay out in front of change, we're using our stores in new ways and doing something no one else can. As our capabilities grow, the last mile will continue to shrink, moving delivery from days to minutes. And the faster we get, the closer we come to fulfilling our promise to help people everywhere save money and live better. Source: Company Website Feb 23, 2022: Brandon Maxwell Reflects On Year One as Creative Director for Free Assembly and Scoop Fashion Brands Maxwell celebrates the milestone and discusses his inspiration for the new spring collections Source: Company Website Feb 23, 2022: Walmart Fulfillment Services Offers Incentives for New Sellers, Trust and Transparency for All This month marks two years since the launch of Walmart Fulfillment Services (WFS), our low-cost fulfillment solution. During those two years, we have seen significant growth. Last year, U.S. GMV fulfilled by WFS grew 500%, and we are expecting robust growth to continue. What the team built from scratch has grown into a robust business with sellers located around the world. We're so proud of how we've been able to collaborate with our sellers to build trust and transparency. But we're even more excited about what we're going to accomplish as we look ahead. There's still tremendous growth opportunity with WFS, and we want to be sure even more sellers can take advantage of it going forward. That's why in celebration of our second anniversary, we're offering incentives to new WFS sellers who sign up and inbound at least one item between Feb. 21 and April 30, 2022. Sellers receive free storage and 10% off fulfillment for the first 90 days*. The WFS business is growing, and we want to help new and existing Marketplace sellers grow their business, too. Many sellers who use WFS to fulfill their items are seeing on average 50% sales growth for those items. Also worth noting, last year, we launched the Walmart Preferred Carrier Program, which resulted in savings on inbound transportation costs for participating sellers. So sellers are increasing sales and saving on expenses. Taking this into account, it's easy to see why WFS has a more than 90% retention rate. There are a lot of fantastic reasons to be part of WFS. WFS has a simple, understandable fee structure, which builds trust and transparency between us and our sellers. Items arrive in a Walmart box and are categorized as "fulfilled by Walmart," building credibility with customers and further driving trust and transparency. (Are you sensing a theme yet?) And if a customer has any issues with an item, they have access to Walmart Customer Care or can return the item at their local Walmart store, of which there are over 4,700 in the U.S. alone. WFS helps improve the experience for your customers, so they are more likely to be repeat customers. At Walmart Fulfillment Services, a win for our sellers is a win for us, too. With the incentives we're offering, and the culture we're building, it's the perfect time to come be part of what we're building, together. Please visit marketplace.walmart.com/walmart-fulfillment-services for more information or to sign up to become a WFS seller. Source: Company Website Feb 10, 2022: Events Calendar: Walmart To Host Fourth Quarter Earnings Conference Call on Feb. 17, 2022 BENTONVILLE, Ark., Feb. 10, 2022 - Walmart Inc. (NYSE: WMT) today announced it will hold a live conference call with the Investment Community at 7 a.m. CST on Thursday, Feb. 17, 2022, to discuss the company's fourth quarter earnings results for fiscal year 2022. Doug McMillon, president and chief executive officer, and Brett Biggs, executive vice president and chief financial officer, will host the call to discuss the results and answer questions. The event will be webcast live and accessible by logging onto https://corporate.walmart.com/newsroom/financial-events and selecting the Fourth Quarter Earnings Release event. The webcast will be archived and available beginning at approximately noon CST on Feb. 17. The company will release its fourth quarter earnings results and related materials at 6 a.m. CST on Feb. 17. Source: Company Website Feb 08, 2022: Winter Storm Landon Facility Status The safety of our associates and customers is our top priority. Walmart's Emergency Operations Center monitors winter storms and other potential disasters in real time. We assess the status of our facilities and will continue to operate as long as it is safe to do so. We pay close attention and follow local and/or state evacuation mandates. Source: Company Website Jan 26, 2022: Walmart: Marketplace: Connecting Customers with Options We are all managing a lot right now. Variants, virtual school, it's a heavy mental load to carry. Now more than ever, customers want special and exciting products to bring joy to their day to day. But they don't want to spend even more of their time online or have to visit a dozen different websites in search of specialty products. At Walmart Marketplace, we are working to take the mental load off the customer. To make it easier and more fun, we offer everyday essentials that customers have come to know and trust along with an expanded selection of high-quality, unexpected and premium finds for all the moments in between. From finding the perfect gift basket for the teacher that deserves it now more than ever, to healthy and exciting meal options for the family, to self-care items for those crucial moments of relaxation, Marketplace has it covered. We have long believed that offering depth and breadth of products is one of the best ways that we can serve our customers. We work with trusted third-party marketplace sellers to curate our product selection and create a best-in-class shopping experience. In this way, we are connecting sellers with customers and customers with options. Bread, cheese and olive spread from above view In the last few months, we have worked with marketplace sellers to launch several new brands that strengthen that connection to a broad assortment: Walmart customers can now discover fresh flavors directly from Maine with the launch of Get Maine Lobster, including the Maine Lobster Roll Kit - a Get Maine Lobster classic that includes succulent lobster claw and knuckle meat, a top-secret spice blend and New England split-top rolls With over 1,300 products, igourmet items are available online to Walmart customers anywhere in the United States. Products include gifts like Everything for Her Premier Gourmet Gift Basket All your skin care essentials, including this highly rated Blackhead Remover Pore Vacuum with wireless charging, six levels of adjustable suction and four heads to meet your needs The result: Instead of visiting the seafood website and the gourmet food website and the beauty website and checking out three different times, the customer can get it all squared away through Marketplace with just a few easy clicks. We are excited to be a trusted one-stop-shop for our customers while delivering on our brand promise to help customers live better. Source: Company Website Jan 25, 2022: Walmart and Plenty Partner To Lead the Future of Fresh Produce Retail leader and indoor farming company enter into a long-term strategic partnership with an equity investment to bring fresh, peak-flavor produce to shoppers year-round BENTONVILLE, Ark., and SOUTH SAN FRANCISCO, Calif., Jan. 25, 2022 - Walmart and Plenty Unlimited Inc. today announced Walmart signed an agreement to invest in Plenty, an indoor vertical farming company, as part of their $400M Series E funding round subject to a regulatory approval. Walmart's equity investment is part of a broader strategic partnership to utilize Plenty's indoor vertical farming technology platform to deliver fresh produce to Walmart retail stores. As part of the investment, at closing, Walmart will also join Plenty's Board of Directors. Together, Walmart and Plenty will work collaboratively to create a new, market-leading product category in vertical farming by delivering the freshness and quality that Walmart customers expect, year-round. The long-term commercial agreement allows Walmart to source Plenty's leafy greens for all its California stores from Plenty's Compton farm beginning later this year. Walmart is the first large U.S. retailer to significantly invest in vertical farming. At Walmart, we are focused on identifying and investing in innovative food solutions to bring our customers the freshest, highest-quality foods at the best prices. We believe Plenty is a proven leader in a new era of agriculture, one that offers pesticide-free, peak-flavor produce to shoppers every day of the year. This partnership not only accelerates agricultural innovation, but reinforces our commitment to sustainability, by delivering a new category of fresh that is good for people and the planet. Charles Redfield, chief merchandising officer, Walmart U.S. Plenty's farming technology platform delivers pesticide-free produce that tastes like it was picked fresh from the garden, all year long. The company's indoor farming architecture differs from greenhouses and other indoor farms, combining engineering, software and sustainable crop science to grow multiple crops on one platform, at unprecedented speed. Backed by one of the largest U.S patent portfolios in the industry, Plenty's proprietary tech meaningfully improves on traditional agriculture's use of water and land. By building their farms closer to the consumer, Plenty helps reduce transportation and food waste, keeping items fresher for longer in 100% recyclable product packaging. Vertical farming supplements traditional farming practices to help increase food supply and alleviate current challenges on the food system in a sustainable way. Walmart's investment is the latest step in the retailer's commitment to increase access to high-quality, fresh produce for its customers. "Plenty's unique farming system unlocks industry-leading crop versatility and unit economics by enabling indoor growing year round," said Arama Kukutai, Plenty CEO. "Our farms can be sited anywhere allowing us to put fresh fruits, greens and vegetables on shelf at all times, at speed, for maximum freshness. As a long-time market leader in retail innovation, Walmart is an ideal partner to test and scale access to our quality produce for their customers. This is a game-changer for the agritech industry." Source: Company Website Jan 24, 2022: Walmart de Mexico y Centroamerica To Consider Strategic Alternatives for Its Operations in Honduras, El Salvador and Nicaragua Mexico City, January 24, 2022 - Walmart de Mexico, S.A.B. de C.V. (BMV and BIVA: WALMEX) hereby informs its shareholders and the investing public at large that, as approved by its board of directors, it is considering strategic alternatives regarding its operations in Honduras, El Salvador and Nicaragua as it focuses efforts and capital on its core businesses and geographies. These alternatives could include, among others, possible joint ventures, strategic partnerships or alliances, a sale or other possible transactions. Source: Company Website Jan 18, 2022: Walmart.org Center for Racial Equity Update: Supporting the Success of Black Businesses in Retail The dictionary defines the word disproportionate as "too large or too small in comparison to something else." To me, the following statistic starkly illustrates "disproportionate": While Black Americans make up 13% of the nation's population, they only account for 4% of our country's wealth. This racial wealth gap has persisted from generation to generation, rippling through all aspects of family life - the ability to own a home, pursue higher education, access health care or simply put food on the table. Many factors feed into this inequity, but by and large, Black Americans lack access to the financial opportunities and resources, such as income and capital, that build wealth. Source: Company Website 2021 Dec 31, 2021: Walmart: File SEC Form 10-K - Management's Discussion and Analysis 10-K MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Overview This discussion, which presents our results for the fiscal years ended January 31, 2022 ("fiscal 2022"), January 31, 2021 ("fiscal 2021") and January 31, 2020 ("fiscal 2020"), should be read in conjunction with our Consolidated Financial Statements and the accompanying notes. We intend for this discussion to provide the reader with information that will assist in understanding our financial statements, the changes in certain key items in those financial statements from period to period and the primary factors that accounted for those changes. We also discuss certain performance metrics that management uses to assess the Company's performance. Additionally, the discussion provides information about the financial results of each of the three segments to provide a better understanding of how each of those segments and its results of operations affect the financial position and results of operations of the Company as a whole. Throughout this Item 7, we discuss segment operating income, comparable store and club sales and other measures. Management measures the results of the Company's segments using each segment's operating income, including certain corporate overhead allocations, as well as other measures. From time to time, we revise the measurement of each segment's operating income and other measures as determined by the information regularly reviewed by our chief operating decision maker. Management also measures the results of comparable store and club sales, or comparable sales, a metric that indicates the performance of our existing stores and clubs by measuring the change in sales for such stores and clubs, including eCommerce sales, for a particular period from the corresponding period in the previous year. Walmart's definition of comparable sales includes sales from stores and clubs open for the previous 12 months, including remodels, relocations, expansions and conversions, as well as eCommerce sales. We measure the eCommerce sales impact by including all sales initiated digitally, including omni-channel transactions which are fulfilled through our stores and clubs. Sales at a store that has changed in format are excluded from comparable sales when the conversion of that store is accompanied by a relocation or expansion that results in a change in the store's retail square feet of more than five percent. Sales related to divested businesses are excluded from comparable sales, and sales related to acquisitions are excluded until such acquisitions have been owned for 12 months. Comparable sales are also referred to as "same-store" sales by others within the retail industry. The method of calculating comparable sales varies across the retail industry. As a result, our calculation of comparable sales is not necessarily comparable to similarly titled measures reported by other companies. In discussing our operating results, the term currency exchange rates refers to the currency exchange rates we use to convert the operating results for countries where the functional currency is not the U.S. dollar into U.S. dollars. We calculate the effect of changes in currency exchange rates as the difference between current period activity translated using the current period's currency exchange rates and the comparable prior year period's currency exchange rates. Additionally, no currency exchange rate fluctuations are calculated for non-USD acquisitions until owned for 12 months. Throughout our discussion, we refer to the results of this calculation as the impact of currency exchange rate fluctuations. Volatility in currency exchange rates may impact the results, including net sales and operating income, of the Company and the Walmart International segment in the future. We have taken certain strategic actions to strengthen our Walmart International portfolio for the long-term, including the following highlights over the last three years: In November 2020, we completed the sale of Walmart Argentina and recorded a pre-tax non-cash loss in fiscal 2021 of $1.0 billion, primarily due to cumulative foreign currency translation losses. Refer to Note 12. In February 2021, we completed the sale of Asda for net consideration of $9.6 billion, for which we recognized an estimated pre-tax loss in fiscal 2021 of $5.5 billion, and an incremental loss of $0.2 billion in fiscal 2022 upon closing of the transaction. Refer to Note 11 and Note 12. In March 2021, we completed the sale of Seiyu for net consideration of $1.2 billion, for which we recognized an estimated pre-tax loss in fiscal 2021 of $1.9 billion, and an incremental loss of $0.2 billion in fiscal 2022 upon closing of the transaction. Refer to Note 12. We operate in the highly competitive omni-channel retail industry in all of the markets we serve. We face strong sales competition from other discount, department, drug, dollar, variety and specialty stores, warehouse clubs and supermarkets, as well as eCommerce, health and wellness, financial services, advertising, and data service businesses. Many of these competitors are national, regional or international chains or have a national or international omni-channel or eCommerce presence. We compete with a number of companies for attracting and retaining quality associates. We, along with other retail companies, are influenced by a number of factors including, but not limited to: catastrophic events, weather and other risks related to climate change, global health epidemics, including the COVID-19 pandemic, competitive pressures, consumer disposable income, consumer debt levels and buying patterns, consumer credit availability, supply chain disruptions, cost and availability of goods, currency exchange rate fluctuations, customer preferences, deflation, inflation, fuel and energy prices, general economic conditions, insurance costs, interest rates, labor availability and costs, tax rates, the imposition of tariffs, cybersecurity attacks and unemployment. Further information on the factors that can affect our operating results and on certain risks to our Company and an investment in its securities can be found herein under "Item 1A. Risk Factors." We expect continued uncertainty in our business and the global economy due to the duration and intensity of the COVID-19 pandemic; the duration and extent of economic stimulus measures; effectiveness and extent of administration of vaccinations and medical treatment; supply chain disruptions; and volatility in employment trends and consumer confidence which may impact our results. For a detailed discussion on results of operations by reportable segment, refer to "Results of Operations" below. Company Performance Metrics We are committed to helping customers save money and live better through everyday low prices, supported by everyday low costs. At times, we adjust our business strategies to maintain and strengthen our competitive positions in the countries in which we operate. We define our financial framework as: strong, efficient growth; consistent operating discipline; and strategic capital allocation. As we execute on this financial framework, we believe our returns on capital will improve over time. Strong, Efficient Growth Our objective of prioritizing strong, efficient growth means we will focus on the most productive growth opportunities, increasing comparable store and club sales, accelerating eCommerce sales growth and expanding omni-channel initiatives that complement our flywheel strategy while slowing the rate of growth of new stores and clubs. At times, we make strategic investments which are focused on the long-term growth of the Company. Comparable sales is a metric that indicates the performance of our existing stores and clubs by measuring the change in sales for such stores and clubs, including eCommerce sales, for a particular period over the corresponding period in the previous year. The retail industry generally reports comparable sales using the retail calendar (also known as the 4-5-4 calendar). To be consistent with the retail industry, we provide comparable sales using the retail calendar in our quarterly earnings releases. However, when we discuss our comparable sales below, we are referring to our calendar comparable sales calculated using our fiscal calendar, which may result in differences when compared to comparable sales using the retail calendar. Returns As we execute our financial framework, we believe our return on capital will improve over time. We measure return on capital with our return on assets, return on investment and free cash flow metrics. We also provide returns in the form of share repurchases and dividends, which are discussed in the Liquidity and Capital Resources section. Return on Assets and Return on Investment We include Return on Assets ("ROA"), the most directly comparable measure based on our financial statements presented in accordance with generally accepted accounting principles in the U.S. ("GAAP"), and Return on Investment ("ROI") as metrics to assess returns on assets. While ROI is considered a non-GAAP financial measure, management believes ROI is a meaningful metric to share with investors because it helps investors assess how effectively Walmart is deploying its assets. Trends in ROI can fluctuate over time as management balances long-term strategic initiatives with possible short-term impacts. ROA was 5.6% for both fiscal 2022 and 2021, respectively. ROI was 14.9% and 14.0% for fiscal 2022 and 2021, respectively, which increased primarily due to the increase in operating income. We define ROI as adjusted operating income (operating income plus interest income, depreciation and amortization, and rent expense) for the trailing twelve months divided by average invested capital during that period. We consider average invested capital to be the average of our beginning and ending total assets, plus average accumulated depreciation and average amortization, less average accounts payable and average accrued liabilities for that period. Our calculation of ROI is considered a non-GAAP financial measure because we calculate ROI using financial measures that exclude and include amounts that are included and excluded in the most directly comparable GAAP financial measure. For example, we exclude the impact of depreciation and amortization from our reported operating income in calculating the numerator of our calculation of ROI. As mentioned above, we consider ROA to be the financial measure computed in accordance with GAAP most directly comparable to our calculation of ROI. ROI differs from ROA (which is consolidated net income for the period divided by average total assets for the period) because ROI: adjusts operating income to exclude certain expense items and adds interest income; and adjusts total assets for the impact of accumulated depreciation and amortization, accounts payable and accrued liabilities to arrive at total invested capital. Because of the adjustments mentioned above, we believe ROI more accurately measures how we are deploying our key assets and is more meaningful to investors than ROA. Although ROI is a standard financial measure, numerous methods exist for calculating a company's ROI. As a result, the method used by management to calculate our ROI may differ from the methods used by other companies to calculate their ROI. Free Cash Flow Free cash flow is considered a non-GAAP financial measure. Management believes, however, that free cash flow, which measures our ability to generate additional cash from our business operations, is an important financial measure for use in evaluating the Company's financial performance. Free cash flow should be considered in addition to, rather than as a substitute for, consolidated net income as a measure of our performance and net cash provided by operating activities as a measure of our liquidity. See "Liquidity and Capital Resources" for discussions of GAAP metrics including net cash provided by operating activities, net cash used in investing activities and net cash used in financing activities. We define free cash flow as net cash provided by operating activities in a period minus payments for property and equipment made in that period. We had net cash provided by operating activities of $24.2 billion, $36.1 billion and $25.3 billion for fiscal 2022, 2021 and 2020, respectively. We generated free cash flow of $11.1 billion, $25.8 billion and $14.6 billion for fiscal 2022, 2021 and 2020, respectively. Net cash provided by operating activities for fiscal 2022 decreased when compared to fiscal 2021 primarily due to an increase in inventory costs and purchases to support strong sales and lapping the impact of accelerated inventory sell-through in fiscal 2021, as well as timing and payment of wages. Free cash flow for fiscal 2022 decreased when compared to fiscal 2021 due to the same reasons as the decrease in net cash provided by operating activities, as well as $2.8 billion in increased capital expenditures. Net cash provided by operating activities for fiscal 2021 increased when compared to fiscal 2020 primarily due to the impact of the global health crisis which accelerated inventory sell-through, as well as the timing and payment of inventory purchases, incremental COVID-19 related expenses and certain benefit payments. Free cash flow for fiscal 2021 increased when compared to fiscal 2020 due to the same reasons as the increase in net cash provided by operating activities, as well as $0.4 billion in decreased capital expenditures. Walmart's definition of free cash flow is limited in that it does not represent residual cash flows available for discretionary expenditures due to the fact that the measure does not deduct the payments required for debt service and other contractual obligations or payments made for business acquisitions. Therefore, we believe it is important to view free cash flow as a measure that provides supplemental information to our Consolidated Statements of Cash Flows. Although other companies report their free cash flow, numerous methods may exist for calculating a company's free cash flow. As a result, the method used by management to calculate our free cash flow may differ from the methods used by other companies to calculate their free cash flow. The following table sets forth a reconciliation of free cash flow, a non-GAAP financial measure, to net cash provided by operating activities, which we believe to be the GAAP financial measure most directly comparable to free cash flow, as well as information regarding net cash used in investing activities and net cash used in financing activities. Our total revenues, which includes net sales and membership and other income, increased $13.6 billion or 2.4% and $35.2 billion or 6.7% for fiscal 2022 and 2021, respectively, when compared to the previous fiscal year. These increases in revenues were primarily due to increases in net sales, which increased $12.5 billion or 2.3% and $35.3 billion or 6.8% for fiscal 2022 and 2021, respectively, when compared to the previous fiscal year. For fiscal 2022, the increase was primarily due to strong positive comparable sales for the Walmart U.S. and Sam's Club segments which benefited from strong U.S. consumer spending and some inflation, along with positive comparable sales in most of our remaining international markets. The increase was partially offset by a $32.6 billion net sales decrease primarily related to the divestiture of our operations in the U.K. and Japan, which closed in the first quarter of fiscal 2022. Net sales also benefited from a $4.5 billion positive impact of fluctuations in currency exchange rates during fiscal 2022. For fiscal 2021, the increase was primarily due to strong positive comparable sales for the Walmart U.S. and Sam's Club segments as well as positive comparable sales in the majority of our international markets resulting from increased demand stemming from the COVID-19 pandemic. Overall net sales growth was strong despite certain operating limitations in several international markets in the second quarter of fiscal 2021 due to government regulations and precautionary measures taken as a result of the COVID-19 pandemic. The net sales increase was partially offset by a negative impact from fluctuations in currency exchange rates of $5.0 billion. Our gross profit rate increased 14 and 20 basis points for fiscal 2022 and 2021, respectively, when compared to the previous fiscal year. For fiscal 2022, the increase was primarily due to price management in the Walmart U.S. segment driven by cost inflation as well as merchandise mix, partially offset by increased supply chain costs. For fiscal 2021, the increase was primarily due to strategic sourcing initiatives, strong sales in higher margin categories, and fewer markdowns. This was partially offset in the Walmart U.S. segment by carryover of prior year price investment as well as the temporary closure of our Auto Care Centers and Vision Centers in response to the COVID-19 pandemic. For fiscal 2022, operating expenses as a percentage of net sales decreased 19 basis points when compared to the previous fiscal year. Operating expenses as a percentage of net sales benefited from growth in comparable sales and lower incremental COVID-19 related costs of $2.5 billion as compared to the previous year, partially offset by increased wage investments primarily in the Walmart U.S. segment. For fiscal 2021, operating expenses as a percentage of net sales was flat when compared to the previous fiscal year. Operating expenses as a percentage of net sales benefited from strong growth in comparable sales, offset by $4.0 billion of incremental costs related to the COVID-19 pandemic. Loss on extinguishment of debt was $2.4 billion in fiscal 2022 due to the early retirement of certain higher rate long-term debt to reduce interest expense in future periods. Other gains and losses consisted of a net loss of $3.0 billion and a net gain of $0.2 billion for fiscal 2022 and 2021, respectively. The loss in fiscal 2022 primarily reflects net losses associated with the fair value changes of our equity investments, as well as $0.4 billion in incremental losses associated with the divestiture of certain international operations which closed in the first quarter of fiscal 2022. The gain in fiscal 2021 primarily reflects $8.7 billion in net gains associated with the fair value changes of our equity investments, partially offset by the $8.3 billion pre-tax loss related to the divestiture of certain international operations classified as held for sale or sold in fiscal 2021. Our effective income tax rate was 25.4% for fiscal 2022, 33.3% for fiscal 2021, and 24.4% for fiscal 2020. The decrease in our effective tax rate for fiscal 2022 as compared to fiscal 2021, and the increase in our effective tax rate for fiscal 2021 as compared to fiscal 2020, is primarily due to the $8.3 billion loss related to the divestiture of certain international operations classified as held for sale or sold in fiscal 2021, which provided minimal realizable tax benefit. Our effective income tax rate may also fluctuate as a result of various factors, including changes in our assessment of certain tax contingencies, valuation allowances, changes in tax law, outcomes of administrative audits, the impact of discrete items and the mix and size of earnings among our U.S. operations and international operations, which are subject to statutory rates that are generally higher than the U.S. statutory rate. The reconciliation from the U.S. statutory rate to the effective income tax rates for fiscal 2022, 2021 and 2020 is presented in Note 9. As a result of the factors discussed above, we reported $13.9 billion and $13.7 billion of consolidated net income for fiscal 2022 and 2021, respectively, which represents an increase of $0.2 billion and a decrease of $1.5 billion for fiscal 2022 and 2021, respectively, when compared to the previous fiscal year. Diluted net income per common share attributable to Walmart ("EPS") was $4.87, $4.75 and $5.19 for fiscal 2022, 2021 and 2020, respectively. Net sales for the Walmart U.S. segment increased $23.3 billion or 6.3% and $29.0 billion or 8.5% for fiscal 2022 and 2021, respectively, when compared to the previous fiscal year. The increases in net sales were primarily due to increases in comparable sales of 6.4% and 8.7% for fiscal 2022 and 2021, respectively. Comparable sales in fiscal 2022 were driven by growth in average ticket and transactions, which includes strong consumer spending from government stimulus and some higher inflation impacts in certain merchandise categories compared to recent years. In the first quarter of fiscal 2022, average ticket increased while transactions decreased as customers consolidated shopping trips and purchased larger baskets. Transaction growth turned positive in April 2021 and continued with strong growth through the rest of the year as customers' pre-pandemic behaviors largely resumed. Comparable sales in fiscal 2021 were driven by growth in average ticket primarily resulting from meeting the increased demand due to economic conditions related to the COVID-19 pandemic while transactions decreased as customers consolidated shopping trips. Walmart U.S. eCommerce sales positively contributed approximately 0.7% and 5.4% to comparable sales for fiscal 2022 and 2021, respectively, as we continue to focus on a seamless omni-channel experience for our customers. Gross profit rate increased 51 basis points for fiscal 2022 and was flat for fiscal 2021, when compared to the respective previous fiscal year. The increase in fiscal 2022 gross profit rate was primarily due to price management driven by cost inflation as well merchandise mix, which includes lapping the temporary closures of our Auto Care and Vision Centers and growth in our advertising business, partially offset by increased supply chain costs. Gross profit rate for fiscal 2021 benefited from strategic sourcing initiatives and fewer markdowns, but was offset by a change in merchandise mix, the carryover effect of prior price investment and the temporary closure of our Auto Care and Vision Centers in response to the COVID-19 pandemic. Operating expenses as a percentage of segment net sales increased 31 basis points for fiscal 2022 when compared to the previous fiscal year. Despite the strong sales growth described above, fiscal 2022 operating expenses as a percentage of segment net sales increased primarily due to investments in wages, partially offset by lower incremental COVID-19 related costs of $1.9 billion. For fiscal 2021, operating expenses as a percentage of segment net sales decreased 15 basis points primarily due to strong sales, which were partially offset by $3.2 billion of incremental costs related to the COVID-19 pandemic including special bonuses, expanded sick and emergency leave pay, costs associated with outfitting our stores and associates with masks, gloves and sanitizer, and expanded cleaning practices. Net sales for the Sam's Club segment increased $9.6 billion or 15.1% and $5.1 billion or 8.7% for fiscal 2022 and 2021, respectively, when compared to the previous fiscal year. For fiscal 2022, the increase was primarily due to comparable sales growth, including fuel, of 15.0%. Comparable sales benefited from growth in transactions and average ticket due to increased consumer spending, which was aided by government stimulus, and also includes some higher inflation impacts in certain merchandise categories compared to recent years. The growth in comparable sales was partially offset by our decision to remove tobacco from certain club locations. Sam's Club eCommerce sales positively contributed approximately 1.3% to comparable sales. For fiscal 2021, the increase was primarily due to comparable sales, including fuel, of 8.7%. Comparable sales benefited from growth in transactions and average ticket resulting from the COVID-19 pandemic, partially offset by our decision to remove tobacco from certain club locations and by lower fuel sales. Sam's Club eCommerce sales positively contributed approximately 2.2% to comparable sales. Gross profit rate decreased 68 basis points and increased 65 basis points for fiscal 2022 and 2021, respectively, when compared to the previous fiscal year. For fiscal 2022, the decrease in gross profit rate was primarily due to increased fuel sales which have lower margins, cost inflation, and higher supply chain costs, partially offset by favorable sales mix, including reduced tobacco sales. For fiscal 2021, gross profit rate increased due to favorable sales mix, including lower fuel and tobacco sales, and improvement in inventory losses which was partially offset by price investment and higher eCommerce fulfillment costs. Membership and other income increased 13.1% and 6.8% for fiscal 2022 and 2021, respectively, when compared to the previous fiscal year. For fiscal 2022, the increase was primarily due to growth in total members and increased Plus Member penetration. For fiscal 2021, the increase was primarily due to growth in total members, which benefited from higher overall renewal rates and higher Plus Member penetration. Operating expenses as a percentage of segment net sales decreased 82 basis points and increased 42 basis points for fiscal 2022 and 2021, respectively, when compared to the previous fiscal year. Fiscal 2022 operating expenses as a percentage of net sales decreased primarily due to higher sales as well as a benefit from $0.2 billion of lower incremental COVID-19 related costs, partially offset by reduced tobacco sales. Despite the increased sales growth described above, fiscal 2021 operating expenses as a percentage of net sales increased primarily due to $0.3 billion of incremental costs related to the pandemic, which included additional costs such as special bonuses, expanded cleaning practices and security, expanded sick and emergency leave pay, and outfitting our associates with masks and gloves. Additionally, the increase in operating expense as a percentage of segment net sales was affected by reduced tobacco and fuel sales. As a result of the factors discussed above, segment operating income increased $0.4 billion and $0.3 billion for fiscal 2022 and 2021, respectively, when compared to the previous fiscal year. Liquidity and Capital Resources Liquidity The strength and stability of our operations have historically supplied us with a significant source of liquidity. Our cash flows provided by operating activities, supplemented with our long-term debt and short-term borrowings, have been sufficient to fund our operations while allowing us to invest in activities that support the long-term growth of our operations. Generally, some or all of the remaining available cash flow has been used to fund dividends on our common stock and share repurchases. We believe our sources of liquidity will continue to be sufficient to fund operations, finance our global investment activities, pay dividends and fund our share repurchases for at least the next 12 months and thereafter for the foreseeable future. Capital Resources We believe our cash flows from operations, current cash position, short-term borrowings and access to capital markets will continue to be sufficient to meet our anticipated cash requirements and contractual obligations, which includes funding seasonal buildups in merchandise inventories and funding our capital expenditures, acquisitions, dividend payments and share repurchases. We have strong commercial paper and long-term debt ratings that have enabled and should continue to enable us to refinance our debt as it becomes due at favorable rates in capital markets. As of January 31, 2022, the ratings assigned to our commercial paper and rated series of our outstanding long-term debt were as follows: Other Matters In Note 10 to our Consolidated Financial Statements, which is captioned "Contingencies" and appears in Part II of this Annual Report on Form 10-K under the caption "Item 8. Financial Statements and Supplementary Data," we discuss, under the sub-caption "Opioids Litigation," the Prescription Opiate Litigation and other matters, including certain risks arising therefrom. In that Note 10, we also discuss, under the sub-caption "Asda Equal Value Claims," the Company's indemnification obligation for the Asda Equal Value Claims matter. We discuss various legal proceedings related to the Federal and State Prescription Opiate Litigation, DOJ Opioid Civil Litigation and Opioids Related Securities Class Actions and Derivative Litigation in Part I of this Annual Report on Form 10-K under the caption "Item 3. Legal Proceedings," under the sub-caption "I. Supplemental Information." We also discuss items related to the Asda Equal Value Claims matter, the Money Transfer Agent Services Proceedings matter and the Foreign Direct Investment matters in Part I of this Annual Report on Form 10-K under the caption "Item 3. Legal Proceedings," under the sub-caption "II. Certain Other Matters." We also discuss an environmental matter with the State of California in Part I of this Annual Report on Form 10-K under the caption "Item 3. Legal Proceedings," under the sub-caption "III. Environmental Matters." The foregoing matters and other matters described elsewhere in this Annual Report on Form 10-K represent contingent liabilities of the Company that may or may not result in the incurrence of a material liability by the Company upon their final resolution. Summary of Critical Accounting Estimates Management strives to report our financial results in a clear and understandable manner, although in some cases accounting and disclosure rules are complex and require us to use technical terminology. In preparing the Company's Consolidated Financial Statements, we follow accounting principles generally accepted in the U.S. These principles require us to make certain estimates and apply judgments that affect our financial position and results of operations as reflected in our financial statements. These judgments and estimates are based on past events and expectations of future outcomes. Actual results may differ from our estimates. Management continually reviews our accounting policies, how they are applied and how they are reported and disclosed in our financial statements. Following is a summary of our critical accounting estimates and how they are applied in preparation of the financial statements. Inventories We value inventories at the lower of cost or market as determined primarily by the retail inventory method of accounting, using the last-in, first-out ("LIFO") method for Walmart U.S. segment's inventories. The inventory at the Sam's Club segment is valued using the weighted-average cost LIFO method. When necessary, we record a LIFO provision for the estimated annual effect of inflation, and these estimates are adjusted to actual results determined at year-end. Our LIFO provision is calculated based on inventory levels, markup rates and internally generated retail price indices. As a measure of sensitivity, a 1% increase to our retail price indices would not have resulted in a decrease to the carrying value of inventory. As of January 31, 2022 and 2021, our inventories valued at LIFO approximated those inventories as if they were valued at first-in, first-out ("FIFO"). Impairment of Assets We evaluate long-lived assets for indicators of impairment whenever events or changes in circumstances indicate their carrying amounts may not be recoverable. Management's judgments regarding the existence of impairment indicators are based on market conditions and financial performance. The evaluation of long-lived assets is performed at the lowest level of identifiable cash flows, which is generally at the individual store level. The variability of these factors depends on a number of conditions, including uncertainty about future events and changes in demographics. Thus, our accounting estimates may change from period to period. These factors could cause management to conclude that indicators of impairment exist and require impairment tests be performed, which could result in management determining the value of long-lived assets is impaired, resulting in a write-down of the related long-lived assets. Impairment charges on assets held and used were immaterial in fiscal 2022, 2021 and 2020. As a measure of sensitivity, fiscal 2022 impairment would not change materially with a 10% decrease in the undiscounted cash flows for the stores or clubs with indicators of impairment. In fiscal 2021, the Company's operations in Argentina, the United Kingdom and Japan met the held for sale criteria. As a result, the individual disposal groups were measured at fair value, less costs to sell, which resulted in impairment charges that were included in the total estimated pre-tax loss of $8.3 billion recorded in fiscal 2021, as well as $0.4 billion in incremental charges associated with the United Kingdom and Japan divestitures upon closing of the transactions during the first quarter of fiscal 2022. Refer to Note 12. Business Combinations, Goodwill, and Acquired Intangible Assets We account for business combinations using the acquisition method of accounting, which requires that once control is obtained, all the assets acquired and liabilities assumed, including amounts attributable to noncontrolling interests, are recorded at their respective fair values at the date of acquisition. The determination of fair values of identifiable assets and liabilities requires estimates and the use of valuation techniques when market value is not readily available. For intangible assets acquired in a business combination, we typically use the income method. Significant estimates in valuing certain intangible assets include, but are not limited to, the amount and timing of future cash flows, growth rates, discount rates and useful lives. The excess of the purchase price over fair values of identifiable assets and liabilities is recorded as goodwill. Goodwill is typically assigned to the reporting unit which consolidates the acquisition. Components within the same reportable segment are aggregated and deemed a single reporting unit if the components have similar economic characteristics. As of January 31, 2022, our reporting units consisted of Walmart U.S., Walmart International and Sam's Club. Goodwill and other indefinite-lived acquired intangible assets are not amortized but are evaluated for impairment annually or whenever events or changes in circumstances indicate that the value of a certain asset may be impaired. Generally, this evaluation begins with a qualitative assessment to determine whether a quantitative impairment test is necessary. If we determine, after performing an assessment based on the qualitative factors, that the fair value of the reporting unit is more likely than not less than the carrying amount, or that a fair value of the reporting unit substantially in excess of the carrying amount cannot be assured, then a quantitative impairment test would be performed. The quantitative test for impairment requires management to make judgments relating to future cash flows, growth rates and economic and market conditions. These evaluations are based on determining the fair value of a reporting unit or asset using a valuation method such as discounted cash flow or a relative, market-based approach. Historically, our reporting units have generated sufficient returns to recover the cost of goodwill, as the fair value significantly exceeded the carrying value. Our indefinite-lived acquired intangible assets have also historically generated sufficient returns to recover their cost. Because of the nature of the factors used in these tests, if different conditions occur in future periods, future operating results could be materially impacted. Due to certain strategic restructuring decisions, we recorded approximately $0.7 billion in impairment in fiscal 2020 related to acquired trade names and acquired developed software. Contingencies We are involved in a number of legal proceedings. We record a liability when it is probable that a loss has been incurred and the amount is reasonably estimable. We also perform an assessment of the materiality of loss contingencies where a loss is either not probable or it is reasonably possible that a loss could be incurred in excess of amounts accrued. If a loss or an additional loss has at least a reasonable possibility of occurring and the impact on the financial statements would be material, we provide disclosure of the loss contingency in the footnotes to our financial statements. We review all contingencies at least quarterly to determine whether the likelihood of loss has changed and to assess whether a reasonable estimate of the loss or the range of the loss can be made. Although we are not able to predict the outcome or reasonably estimate a range of possible losses in certain matters described in Note 10 to our Consolidated Financial Statements and have not recorded an associated accrual related to these matters, an adverse judgment or negotiated resolution in any of these matters could have a material adverse effect on our business, reputation, financial position, results of operations or cash flows. Income Taxes Income taxes have a significant effect on our net earnings. We are subject to income taxes in the U.S. and numerous foreign jurisdictions. Accordingly, the determination of our provision for income taxes requires judgment, the use of estimates in certain cases and the interpretation and application of complex tax laws. Our effective income tax rate is affected by many factors, including changes in our assessment of certain tax contingencies, increases and decreases in valuation allowances, changes in tax law, outcomes of administrative audits, the impact of discrete items and the mix of earnings among our U.S. and international operations where the statutory rates are generally higher than the U.S. statutory rate, and may fluctuate as a result. Our tax returns are routinely audited and settlements of issues raised in these audits sometimes affect our tax provisions. The benefits of uncertain tax positions are recorded in our financial statements only after determining a more likely than not probability that the uncertain tax positions will withstand challenge, if any, from taxing authorities. When facts and circumstances change, we reassess these probabilities and record any changes in the financial statements as appropriate. We account for uncertain tax positions by determining the minimum recognition threshold that a tax position is required to meet before being recognized in the financial statements. This determination requires the use of judgment in evaluating our tax positions and assessing the timing and amounts of deductible and taxable items. Deferred tax assets represent amounts available to reduce income taxes payable on taxable income in future years. Such assets arise because of temporary differences between the financial reporting and tax bases of assets and liabilities, as well as from net operating loss and tax credit carryforwards. Deferred tax assets are evaluated for future realization and reduced by a valuation allowance to the extent that a portion is not more likely than not to be realized. Many factors are considered when assessing whether it is more likely than not that the deferred tax assets will be realized, including recent cumulative earnings, expectations of future taxable income, carryforward periods and other relevant quantitative and qualitative factors. The recoverability of the deferred tax assets is evaluated by assessing the adequacy of future expected taxable income from all sources, including reversal of taxable temporary differences, forecasted operating earnings and available tax planning strategies. This evaluation relies on estimates. As guidance is issued by the U.S. Treasury Department, the IRS, and other standard-setting bodies, any resulting changes to our estimates will be treated in accordance with the relevant accounting guidance. Dec 30, 2021: Select Walmart and Sam's Club Pharmacies Ready To Dispense Authorized COVID-19 Antiviral Medication Through Federal Retail Pharmacy Therapeutics Program Walmart worked closely with the federal government and state health departments to select locations where states determined the treatment was needed most. While initial medication supply is limited, Walmart and Sam's Club pharmacies stand ready to help expand treatment access nationwide. Source: Company Website Nov 23, 2021: Walmart: Exhibit Statement by Walmart Inc. with respect to the Jury Verdict in the Liability phase of a Single, Two County Trial in the Multidistrict Litigation in the U.S. District Court for the Northern District of Ohio involving Opioids We will appeal this flawed verdict, which is a reflection of a trial that was engineered to favor the plaintiffs' attorneys and was riddled with remarkable legal and factual mistakes. Among the many problems during this trial, the judge allowed it to continue after a juror violated court rules by conducting her own research and sharing it with other jurors. The judge even said that in his 22 years on the bench he had never seen a juror do "anything like" this, and we agree with the plaintiffs' own lawyer, when he said it was his "ethical obligation" to call for a mistrial because of this juror misconduct. Additionally, this verdict is out of step with courts around the country that have rejected plaintiffs' novel "public nuisance" liability theories in opioid lawsuits in Connecticut, Delaware, Illinois, California, Oklahoma, North Dakota, and South Dakota, to name a few. Plaintiffs' attorneys sued Walmart in search of deep pockets while ignoring the real causes of the opioid crisis-such as pill mill doctors, illegal drugs, and regulators asleep at the switch-and they wrongly claimed pharmacists must second-guess doctors in a way the law never intended and many federal and state health regulators say interferes with the doctor-patient relationship. As a pharmacy industry leader in the fight against the opioid crisis, Walmart is proud of our pharmacists, who are dedicated to helping patients in the face of a tangled web of conflicting federal and state opioid guidelines. Source: SEC Nov 08, 2021: Walmart is using fully driverless trucks to ramp up its online grocery business PUBLISHED MON, NOV 8 20215:00 AM ESTUPDATED MON, NOV 8 20215:35 PM EST Frank Holland @IN/FRANK-HOLLAND-MBA-B9657883/ @FRANKCNBC KEY POINTS Walmart and Silicon Valley start-up Gatik said that, since August, they've operated two autonomous box trucks, without a safety driver, on a 7-mile loop daily for 12 hours. "Taking the driver out is the holy grail of this technology." Gatik CEO Gautam Narang, who founded the company in 2017, told CNBC. Walmart said Monday it has started using fully driverless trucking in its online grocery business, aiming to increase capacity and reduce inefficiencies. Walmart and Silicon Valley start-up Gatik said that, since August, they've operated two autonomous box trucks - without a safety driver - on a 7-mile loop daily for 12 hours. The Gatik trucks are loaded with online grocery orders from a Walmart fulfillment center called a "dark store." The orders are then taken to a nearby Walmart Neighborhood Market grocery store in Bentonville, Arkansas, where Walmart is headquartered. The program began in December 2020 after getting approval from the Arkansas State Highway Commission. The safety driver was pulled over the summer. The partnership is focused on the so-called middle mile - the transport of goods within the supply chain most often from a warehouse to a fulfillment center or a warehouse to a retailer. "We're thrilled to be working with Gatik to achieve this industry-first, driverless milestone," Walmart senior vice president Tom Ward said in a news release about the project. "Through our work with Gatik, we've identified that autonomous box trucks offer an efficient, safe and sustainable solution for transporting goods on repeatable routes between our stores." "Taking the driver out is the holy grail of this technology." Gatik CEO Gautam Narang, who founded the company in 2017, told CNBC. "Having the trust from the world's largest retailer has been a massive boost for what we do and is a validation for our technology, our solution, our progress." Walmart, the nation's biggest seller of grocery items, is testing the Gatik autonomous vehicles as part of its transition to a "hub and spoke" model for grocery delivery where dark stores are closer to the consumer and used to serve several retail stores. Walmart said the use of automated vehicles will also allow store associates more freedom to perform "higher level" tasks, including picking and packing online orders and customer assistance. "The old architecture of delivery where you have a giant distribution center four or five hours away from the end consumer does not work anymore. Grocers are forced to set up these fulfilment centers close to the customer, and once you get close to the customer you have to shrink the size of your warehouse," Narang said. "As the size shrinks there is a growing need for doing repeated trips from the fulfillment centers to the pickup points. That's where we come in." The Kroger supermarket chain has tested autonomous delivery with start-up Nuro since 2018 and said it's now completed thousands of "last mile" deliveries in the Houston, Texas area. Kroger is also using automated warehouses to launch online grocery delivery in Florida and other states where it does not have brick and mortar locations. Albertsons, which operators supermarkets including Safeway and Kings, is testing "last mile" delivery with start-up Tortoise in Northern California. The remote-controlled Tortoise carts are filled with groceries by employees at the store. The carts are then operated remotely by Tortoise "drivers" that use an Xbox controller to navigate to the customer's home. Gatik said its autonomous vehicles can also reduce logistics costs by as much as 30% for a grocery business. Grocery typically has thin margins ranging from 2% to 4%, according to research from Bain and Company. Walmart and Gatik are running similar tests in the New Orleans-area using an electric box truck with a safety driver to move online grocery orders from a Walmart Supercenter to a customer pickup location. Narang said the AVs also can help companies mitigate the impact of the nation's labor shortage on supply chains outside of the grocery business. "This solution is very relevant across different supply chains, different kinds of logistics," Narang said. "It's not just about the labor shortage. It's all about increasing efficiency, helping with the operating costs." Source: CNBC Oct 22, 2021: Walmart and Walmart.org Increase Access to Educational Opportunities for Black and African Americans Walmart Inc. (NYSE: WMT) and Walmart.org today announced a trio of additional shared value and philanthropic initiatives that build on its strategy to advance equity in education, including: Three leading Historically Black Colleges and Universities (HBCUs) -Morehouse College, North Carolina A&T State University and Spelman College - will be added to the slate of Walmart's Live Better U (LBU) academic partners, in partnership with Guild Education. Through the company's LBU program, Walmart pays 100% of college tuition and books, and approximately 1.5 million part-time and full-time Walmart and Sam's Club associates in the U.S. are eligible for the program. Source: Company Website Oct 22, 2021: Walmart Is Delivering Added Convenience to Homes for the Holidays Walmart is delivering a few more reasons to be merry this holiday, making it easier than ever for customers to get what they need when they need it - from turkey and trimmings to Black Friday deals and top-rated toys to put under the tree - and even the tree itself. We'll be 1) extending store delivery hours, 2) adding additional delivery windows for customers and 3) adding more items to the list of what can be delivered from your local store. Source: Company Website Oct 20, 2021: Walmart Selects Transcarent To Provide Go-to-Market Solution for Self Insured Employers Walmart and Transcarent will work together to make it easy for clients and members to access Walmart services and Walmart's everyday low-cost pricing Source: Company Website Oct 20, 2021: Walmart Selects Transcarent To Provide Go-to-Market Solution for Self-Insured Employers Walmart and Transcarent will work together to make it easy for clients and members to access Walmart services and Walmart's everyday low-cost pricing Source: Company Website Oct 20, 2021: Walmart Selects Transcarent To Provide Go to Market Solution for Self-Insured Employers Walmart and Transcarent will work together to make it easy for clients and members to access Walmart services and Walmart's everyday low-cost pricing Source: Company Website Oct 16, 2021: Walmart Selects Transcarent To Provide Go-to-Market Solution for Self-Insured Employers Bentonville, Ark., and Palo Alto, Calif., October 15, 2021 - Walmart (NYSE: WMT) and Transcarent today announced they would be working together as go-to-market partners for self-insured employers across the country. The agreement allows Transcarent, which offers employees and their dependents a new, different and better health and care experience, to share Walmart's everyday low cost on pharmaceuticals and other services with self-insured employers and their employees for the first time. Source: Company Website Oct 06, 2021: Walmart Has Now Saved Customers Over $2 Billion in Money Transfer Fees BENTONVILLE, Ark., Oct. 5, 2021 - Since beginning to offer its customers flat, low fee money transfer services in 2014, Walmart is today announcing it has saved its customers over $2.4 billion in fees. With so many of its customers relying on Walmart for their financial needs, Walmart has advocated on their behalf by working with providers to lower fees and create transparency in pricing. Source: Company Website Oct 02, 2021: Doubling Down on Kids' Fashion - Introducing Free Assembly Kids At Walmart, we continue to focus on growing our fashion assortment of exclusive, elevated brands that offer customers quality, on-trend and accessible style at an incredible value. Source: Company Website Sep 29, 2021: Walmart Reveals the 2021 Holiday Season's Most-Wanted Toys with 8th Annual Top-Rated by Kids Toy List Get your shopping lists ready! Walmart, America's Best Toy Shop, revealed its annual Top-Rated by Kids Toy List, featuring the must-have toys of the holiday season. Selected by real kids, this year's top picks include 16 Walmart exclusives - more than any year before. Source: Company Website Sep 28, 2021: Walmart Selects Epic To Help Customers Simplify Their Health Care BENTONVILLE, Ark., Sept. 27, 2021 - Walmart today announced a new partnership with Epic, the most widely-used and comprehensive health records system, to help make it simple for customers to live healthier. Through this single, unified system, Walmart Health will engage patients, health care professionals, insurance carriers and other stakeholders while enhancing communication, personalization and information sharing amongst health care professionals and patients utilizing a patient portal. Epic's platform will support all of Walmart's health and wellness lines of businesses as it is rolled out and will first be implemented in four new Walmart Health Centers opening in Florida in early 2022. Source: Company Website Sep 13, 2021: Walmart debunks litecoin payments announcement and 4 other key things that happened in crypto this week After hitting its highest level since May, the price of bitcoin, the largest cryptocurrency by market value, dropped below $50,000 last week and has since extended its losses. In the last seven days, the top cryptocurrencies by market value, including bitcoin, ether and cardano, are down. Other altcoins, like dogecoin and XRP, remain in the red too. However, meme-inspired cryptocurrency dogecoin seemingly got a minor boost on Sunday after billionaire Elon Musk tweeted a picture of his shiba inu puppy. Source: CNBC Sep 13, 2021: Walmart Announces Major Partnership With Litecoin (LTC) BENTONVILLE, Ark., Sept. 13, 2021 -- Walmart Inc. (NYSE: WMT), the No. 1 U.S. retailer and worlds largest grocer, is pleased to announce a major partnership with Litecoin. The eCommerce giant intends to give its millions of shoppers across the world an opportunity to seamlessly make payments with cryptocurrencies. "The momentum and excitement around the use of cryptocurrency are undeniable, and we are poised to make online shopping easy for our customers. As a leading eCommerce store, we are committed to bringing innovations to the online shopping experience. By integrating Litecoin, we will enable shoppers to experience a very smooth checkout experience with near instant transaction confirmation, and near-zero fees regardless of where in the world they are. We're very excited to be working together with the Litecoin Foundation, and further innovate our business. Starting October 1st, all eCommerce stores will have implemented a 'Pay with Litecoin Option,'" said Doug McMillon, Walmart CEO. Walmart has long been one of the earliest adopters of blockchain technologies, starting as early as 2016 to trial the digital ledger for improvements in its supply chain. Now, with this partnership, Walmart will offer their shoppers to use Litecoin to benefit from the features of the cryptocurrency. Charlie Lee, Litecoin's creator and the CEO of Litecoin Foundation shared, "LTC's super low fees and fast transaction times are perfect for a leading eCommerce store like Walmart. We are thrilled and extremely excited that our cryptocurrency is now supported by Walmart, opening up more opportunities for any merchants to accept Litecoin in the future." Source: West Corporation Sep 13, 2021: NOTICE TO DISREGARD -- Walmart Inc. BENTONVILLE, Ark., Sept. 13, 2021 -- Please be advised that journalists and other readers should disregard the news release, "Walmart Announces Major Partnership With Litecoin (LTC)" issuedSeptember 13, 2021, over GlobeNewswire. Source: West Corporation Sep 13, 2021: Walmart says crypto payments announcement is fake. Litecoin tumbles after spike Cryptocurrency litecoin gave up a 20% gain and tumbled back to Earth following a fake press release sent out by GlobeNewswire that referenced a partnership with Walmart. Walmart spokesman Randy Hargrove confirmed that the press release is not authentic. He also said the retailer has been in touch with the newswire company to investigate how the false press release got posted. GlobeNewswire is owned by telecommunications company Intrado. It issued a "notice to disregard" the original release at 11:18 a.m. ET. A number of media organizations, including CNBC, sent headlines on the announcement. Shares of Walmart had little movement on it. Litecoin was down about 2.2%, according to Coin Metrics. Source: CNBC Aug 30, 2021: Walmart Releases Q2 FY22 Earnings Many of us had hoped this summer would bring resolution to the unprecedented challenges of the pandemic. Yet, as we begin another school year and turn the corner to the back half of the year, we are reminded daily of the continuing impact of COVID-19. Infection rates Source: Company Website Aug 28, 2021: Walmart should be under tighter scrutiny because of wrongful firing of employee with Down syndrome, EEOC says A jury found Walmart broke the law when it fired a longtime employee with Down syndrome. Now, the U.S. Equal Employment Commission wants the judge to put the nation's largest private employer on notice to stop that from happening again. In a motion filed Friday, the federal agency said Walmart should be under tighter oversight for the next five years and required to make clear in company policies that employees with disabilities are entitled to reasonable accommodations. Plus, the EEOC said, Walmart should be forced to post a sign about the lawsuit and its actions at more than 100 stores. A draft of the memo, which the EEOC made and shared with the judge, lays out why the company was wrong to fire Marlo Spaeth, a longtime employee - and uses it as a cautionary tale about the consequences of violating the Americans with Disabilities Act. The federal agency is asking for the memo to be posted for five years in the region where Walmart violated the ADA. A judge will ultimately decide whether or not to grant the injunctive measures. Walmart is reviewing the filing, company spokesman Randy Hargrove said. In a previous statement, he said Walmart's leaders and managers "take supporting all our associates seriously and for those with disabilities, we routinely accommodate thousands every year." Source: CNBC Aug 24, 2021: Walmart's new GoLocal delivery service connects customers to retailers Walmart on Tuesday announced the launch of a delivery service called GoLocal, which will carry goods from other local retailers to consumers. CNBC's Frank Holland reports. Source: CNBC Aug 18, 2021: Events Calendar: Walmart To Host Second Quarter Earnings Conference Call on Aug. 17, 2021 BENTONVILLE, Ark., Aug. 10, 2021 - Walmart Inc. (NYSE: WMT) today announced it will hold a live conference call with the Investment Community at 7 a.m. CDT on Tuesday, Aug. 17, 2021, to discuss the company's second quarter earnings results for fiscal year 2022. Doug McMillon, president and chief executive officer, and Brett Biggs, executive vice president and chief financial officer, will host the call to discuss the results and answer questions. Source: Company Website Aug 18, 2021: Walmart Releases Q2 FY22 Earnings Walmart Releases Q2 FY22 Earnings Source: Company Website Aug 18, 2021: Walmart Names Publicis Groupe as New Media Agency BENTONVILLE, Ark., Aug. 12, 2021 - Walmart today announced the selection of Publicis Groupe to lead media planning and buying for Walmart U.S. The announcement comes after an extensive agency evaluation for a media agency of record to support future growth and brand-building initiatives. Source: Company Website Jul 26, 2021: What Sprouted in the Garden Center Has Flourished Across Walmart How a solution to bring the checkout experience to the outdoor Garden Center laid the foundation for global solutions today like curbside checkout, Scan & Go and self-checkout in the U.S., Canada, Japan, U.K. and more. Source: Company Website Jul 23, 2021: What Sprouted in the Garden Center Has Flourished Across Walmart How a solution to bring the checkout experience to the outdoor Garden Center laid the foundation for global solutions today like curbside checkout, Scan & Go and self-checkout in the U.S., Canada, Japan, U.K. and more. Source: Company Website Jul 20, 2021: Meet Bubble the New Line Changing the Skincare Aisle If given the choice, most of us would not go back to being a teenager. It's a time filled with hormones, angst and, for many, acne. Thankfully, there's a new line to address the unique skincare needs of young skin. It's called Bubble, and it's now available in Walmart stores nationwide and on Walmart.com. Source: Company Website Jul 16, 2021: Walmart Continues Fashion Assortment Expansion With Popular Tween Brand Justice Just in Time for a Very Busy Back to School Walmart has been hard at work expanding our fashion assortment to offer customers quality, on-trend and accessible style at an incredible value. Source: Company Website Jul 13, 2021: 2021 ESG Reporting Details Meaningful Progress in Key Areas Walmart has long taken a shared value, whole-system approach to environmental, social and governance (ESG) issues. Through our ESG strategies, we aim to do more than operate responsibly and mitigate business risk; we want to create value for business by better serving our customers and stakeholders and helping to transform related societal systems (e.g., food systems, workforce development systems) for more equitable and sustainable outcomes. Events of the past year - the COVID-19 pandemic, the murder of George Floyd, rising income inequality and intensifying climate and ecosystem decline - underscore the relevance of our shared value philosophy. Source: Company Website Jul 08, 2021: Walmart: 2021 ESG Reporting Details Meaningful Progress in Key Areas By Kathleen McLaughlin, Executive Vice President and Chief Sustainability Officer, Walmart Inc.; President, Walmart Foundation Walmart has long taken a shared value, whole-system approach to environmental, social and governance (ESG) issues. Through our ESG strategies, we aim to do more than operate responsibly and mitigate business risk; we want to create value for business by better serving our customers and stakeholders and helping to transform related societal systems (e.g., food systems, workforce development systems) for more equitable and sustainable outcomes. Events of the past year - the COVID-19 pandemic, the murder of George Floyd, rising income inequality and intensifying climate and ecosystem decline - underscore the relevance of our shared value philosophy. Source: Company Website Jul 08, 2021: Walmart's Black senior managers give the company low marks, report says Walmart has touted efforts to recruit and promote a diverse workforce and fund a new center to advance racial equity - but the retail giant may have to win over its own Black supervisors and managers first, according to a Bloomberg report. An internal survey by Walmart found that many Black supervisors, senior managers and directors said they would not recommend the company to others, according to Bloomberg, which saw a copy. The employees who were surveyed said they faced barriers when trying to advance in their careers, such as having unequal access to growth opportunities and coping with favoritism and internal politics. The findings, which came from 56 high-ranking Black employees, were presented to members of Walmart's senior leadership late last year, according to Bloomberg. Some employees were especially critical, according to the Bloomberg report. "I have been here 10 years and I have never recommended Walmart to a person of color. I have recommended others to leave," one Black director said. "Pay, benefits, not bad - but recommend? NEVER. EVER." Source: CNBC Jul 07, 2021: Retailers Join Forces to Tackle Climate Change in the Race to Zero The retail sector faces unprecedented challenges due to climate change, which have only been accentuated by the COVID-19 pandemic. The imperative to take action to limit warming to 1.5 degrees Celsius has never been higher. Despite bold actions from some leading retail brands, a decarbonization pathway for the sector is notably absent, with only 5% of retail businesses - by total global industry revenues - having committed to taking action to limit global warming in accordance with the Paris Agreement goals. Source: Company Website Jun 29, 2021: Walmart Vriddhi Helps MSMEs Access Medical Support To Navigate COVID-19 New Vriddhi Cares program reinforces Flipkart and Walmart efforts to help ready MSMEs for online and offline business growth Source: Company Website Jun 16, 2021: Reflecting on Our Journey To Accelerate Racial Equity On June 5, 2020, I sat at my desk and watched as Doug McMillon made a commitment to use Walmart's scale and resources to address the drivers of systemic racism in society and accelerate change in the national social systems. As a 20-year associate, and a Black woman, it was one of the most exciting moments of my Walmart career. Though he has long been a champion of diversity, it was clear that the murder of George Floyd had impacted and changed him, as it has done for so many. Source: Company Website Jun 14, 2021: Reflecting on Our Journey To Accelerate Racial Equity On June 5, 2020, I sat at my desk and watched as Doug McMillon made a commitment to use Walmart's scale and resources to address the drivers of systemic racism in society and accelerate change in the national social systems. As a 20-year associate, and a Black woman, it was one of the most exciting moments of my Walmart career. Though he has long been a champion of diversity, it was clear that the murder of George Floyd had impacted and changed him, as it has done for so many. Source: Company Website Jun 11, 2021: Walmart To Participate in Evercore ISI Consumer & Retail Summit BENTONVILLE, Ark., June 10, 2021 - Walmart Inc. (NYSE: WMT) announced today that Brett Biggs, Walmart Inc. executive vice president and chief financial officer, will participate in the Evercore ISI Consumer & Retail Summit on Tuesday, June 15, at 11:45 a.m. EDT. The session will be webcast live through the "Events" link at stock.walmart.com. A transcript of this session will be made available and archived on the company's website. Source: Company Website Jun 08, 2021: Walmart and The Elton John AIDS Foundation Join Forces To Launch Breakthrough, A New Initiative To Help Accelerate the End of AIDS in America BENTONVILLE, Ark., June 4, 2021 - Today, at the Walmart Associate celebration at the Walmart AMP, Walmart and the Elton John AIDS Foundation announced they are joining forces to change the course of HIV in the United States with the launch of "Breakthrough." This new initiative aims to accelerate the end of AIDS in America by increasing access, education and awareness to safe, convenient HIV testing and services in the southern United States. The three-year engagement will begin by expanding access to stigma-free testing in local communities through testing events, a vital first step at effective prevention and treatment for people living with the disease, as well as education and awareness. Source: Company Website Jun 03, 2021: Walmarts Continued Focus on COVID-19 Precautions and Associate Support As customers and associates across the country continue to get vaccinated against COVID-19, there is a growing optimism that, as a country, we may soon be able to turn the page on what has been a very challenging time. Source: Company Website May 27, 2021: Walmart Walmart struck a deal with apparel retailer Gap (GPS) to sell a new line of Gap-branded home goods. The new products will go on sale online June 24 and will eventually come to Walmart's physical locations. Gap rose 1.3% in the premarket, while Walmart shares were little changed. Source: CNBC May 18, 2021: Walmart Walmart earned $1.69 per share for the first quarter, compared to a consensus estimate of $1.21 a share. Revenue also beat analysts' projections. U.S. comparable-store sales rose 6% compared with a FactSet estimate of 0.9%. Walmart also raised its second-quarter and full-year outlook. Walmart shares rose 3% in premarket action. Source: CNBC May 18, 2021: Walmart earnings beat estimates as retailer sees robust grocery sales, e-commerce growth Walmart on Tuesday reported first-quarter earnings that surged past Wall Street's estimates as the company reported strong grocery sales and e-commerce growth and raised its outlook for the year. Shares closed Tuesday up 2.2% to $141.91. The big-box retailer said more shoppers have headed to its stores and website to spend stimulus checks and to get ready to socialize again as Covid cases decline and vaccination rates rise. E-commerce sales in the U.S. rose by 37%, even as consumers returned to more typical patterns. The retailer faced tough comparisons to the year-ago quarter, a time when shelter-in-place orders prompted customers to stock up on food and household items and make more purchases online. Walmart Chief Financial Officer Brett Biggs said in an interview that the company is seeing "pent-up demand" and expects that to continue. He said customers are still buying items that were popular during the pandemic, such as bicycles and printers, but have also begun to purchase things like teeth whitener as they take off their masks. "You can tell people are starting to get back out," he said. The company raised its outlook for the fiscal year. It expects earnings per share and Walmart U.S.'s operating income to increase in the high single-digits. It reiterated its guidance that Walmart U.S. and Sam's Club same-store sales will grow in the low single-digits, excluding fuel and tobacco. "Stimulus helped in Q1, and because of that, we increased profit and revenue guidance," Biggs said. He said the company also boosted its outlook because of what it has seen in the second quarter. Here's what the company reported for the fiscal first quarter ended April 30, compared with Refinitiv consensus estimates: Source: CNBC May 17, 2021: Ahead of Walmart earnings, Oppenheimer analyst says another big-box retailer looks like a better buy Walmart, one of the biggest retailers in the world, is set to report earnings on Tuesday. The mega chain has been able to navigate the pandemic with curbside pickup and its investments in the online shopping experience. Shares have not performed well this year, though. The stock is down more than 3%, trailing the S&P 500′s 11% gain and bottoming out as one of the worst Dow performers in 2021. Ari Wald, head of technical analysis at Oppenheimer, sees Costco as the better big-box bet over Walmart. "We don't really have a very strong view on how Walmart's going to react to a fundamental catalyst in terms of earnings, but where our conviction does lie is that we do expect it to underperform versus the relative strength being exhibited in industry peer Costco," Wald told CNBC's "Trading Nation" on Monday. Source: CNBC May 11, 2021: Expanding Well-being Services to Further Support Our Associates The unprecedented global events of the past year impacted our lives in ways many of us couldn't have imagined. These events put an emphasis on how critical it truly is to care for our emotional well-being. Source: Company Website May 05, 2021: Walmart Releases 2021 Annual Report and Proxy Statement The 2021 Annual Report showcases the strength and resiliency of Walmart's associates over the course of the past year in light of the extraordinary challenges brought on by the pandemic, as well Walmart's financial strength and positioning for ongoing success. Source: Company Website Mar 18, 2021: Walmart Enlists American Fashion Designer Brandon Maxwell as Creative Director for Select Elevated Fashion Brands Known as one of the industry's leading American fashion designers, Maxwell will act as Creative Director for Free Assembly and Scoop, driving the design of seasonal collections for men's, women's, children's and accessories. In his role, he will be responsible for collection design and providing input into material selection, sourcing and production. He will also be involved in brand marketing initiatives and campaigns for both elevated brands. Source: Company Website Mar 13, 2021: Walmart Investment to Accelerate Growth of Rakuten's Global Ecosystem TOKYO, Japan, March 12, 2021 - Today, Rakuten announced that Walmart Inc. will invest 16.6 billion yen ($153 million) to accelerate the growth of Rakuten's ecosystem in Japan and globally. The investment will see Walmart take a 0.9% stake in Rakuten and is in line with other recent strategic equity investments the company has made that enable Walmart to benefit from future growth in a rapidly changing global retail environment. Source: Company Website Mar 10, 2021: Walmart Expands Vriddhi Program to Uttar Pradesh to Help MSMEs Access Domestic and Global Customers BANGALORE and AGRA, Feb. 25, 2021 - Walmart today launched a new Vriddhi e-Institute in Agra to provide small businesses in Uttar Pradesh access to skills and competencies to grow in a post-pandemic environment through online and offline channels such as Flipkart's marketplace and Walmart's international supply chain. Source: Company Website Feb 24, 2021: Race in the Workplace: The Black Experience a McKinsey & Co. Report Created in Collaboration with Walmart We identified the opportunity to accelerate our efforts by collaborating with McKinsey & Company to fund and support the production of a new report called Race in the Workplace: The Black Experience. Source: Company Website Feb 23, 2021: Walmart: Document and Entity Information Document and Entity Information Document Feb. 16, 2021 Entity Information [Line Items] Document Type 8-K Document Period End Date Feb. 16, 2021 Entity Registrant Name Walmart Inc. Entity Incorporation, State or Country Code DE Source: SEC Feb 22, 2021: Walmart: Document and Entity Information Document and Entity Information Document Feb. 18, 2021 Entity Information [Line Items] Document Type 8-K Document Period End Date Feb. 18, 2021 Entity Registrant Name Walmart Inc. Entity Incorporation, State or Country Code DE Source: SEC Feb 22, 2021: Walmart reports record Q4 and FY21 revenue Walmart will host its annual meeting for the investment community. During the meeting, Walmart's leadership team will highlight how the company will build on its strong performance in FY21 and existing momentum with customers. The company's strong financial position makes it the right time to accelerate investments in key areas, enabling it to grow faster while leveraging its unique assets to build a business model that will define the next generation of retail. Source: SEC Feb 20, 2021: Walmart, Sam's Club and the Walmart Foundation Announce Winter Weather Response Efforts to Help Those Affected by Recent Storms BENTONVILLE, Ark., Feb. 19, 2021 - With the catastrophic storms, power outages and water shortages affecting Texas, Tennessee, Louisiana and Mississippi, Walmart, Sam's Club and the Walmart Foundation are committing up to $1 million in cash and in-kind product donations to help with response efforts. Source: Company Website Feb 20, 2021: Walmart Reports Record Q4 and FY21 Revenue Annual revenue of nearly $560 billion resulted in $35 billion of growth; $40 billion of growth in constant currency.2 Q4 FY21 GAAP EPS of ($0.74); Adjusted EPS2 of $1.39. Decision to repay property tax relief in the U.K. lowered GAAP EPS and Adjusted EPS by $0.07; COVID-related costs were $1.1 billion in Q4. Walmart continues to build the next generation business model, investing in automation to fuel future sales and earnings growth. FY22 capital investments are expected to be nearly $14 billion to build supply chain capacity and automation to stay ahead of demand, improve the customer experience and increase productivity. Source: Company Website Feb 20, 2021: Walmart U.S. CEO John Furner to Associates: 'A Memorable Year...and an Investment in You' When I joined Walmart in 1993, one of the first things I learned working in the Garden Center at Store 100 in Bentonville, Arkansas, was that "Our people make the difference." Today we're releasing our FY21 results, and we'll all remember 2020 as an unprecedented year in which our people truly made a difference. Source: Company Website Feb 08, 2021: The Walmart.org Center for Racial Equity Awards Over $14 Million in First Round of Grants BENTONVILLE, Ark., Feb. 1, 2021 - Walmart and the Walmart Foundation pledged to contribute $100 million over five years through a Center for Racial Equity to help address racial disparities in the U.S. in June 2020. Today, Walmart announced that Walmart and the Walmart Foundation are distributing the first $14.3 million of that commitment in grants to 16 different nonprofit organizations. Source: Company Website Feb 08, 2021: Walmart and Sam's Club Pharmacies Are Ready to Administer COVID-19 Vaccines Through the Federal Retail Pharmacy Program This morning, the Centers for Disease Control and Prevention (CDC) shared information on the U.S. Federal Retail Pharmacy Program. Through this partnership, Walmart and Sam's Club pharmacies can now accept and administer federal allocations of the COVID-19 vaccine. Walmart and Sam's Club are working with the federal government to help increase access to COVID-19 vaccines at select pharmacies in 22 states once vaccine doses are available, starting late next week. Source: Company Website Feb 01, 2021: Weve Spent the Past Year Preparing with CDC and Others to Administer COVID-19 Vaccines As we prepare this week to begin administering COVID-19 vaccines in Maryland, Texas, Delaware, Indiana and the District of Columbia to eligible populations as determined by each district and state, we know our pharmacists and pharmacy technicians are ready. It has been a year of hard work and preparation to get to this point. And as more people become eligible for vaccination, it's a good time to take a look back at how we got here. Source: Company Website Jan 29, 2021: Walmart Announces Expanded Vision and New Name for its Media Business Walmart Connect, formerly Walmart Media Group, is growing its offerings to provide unparalleled opportunities for partners to accelerate their connection to customers in a closed-loop, omnichannel environment Source: Company Website 2020 Dec 10, 2020: Walmart prepares to administer Covid vaccines at stores across the U.S. Walmart is getting ready to administer Covid-19 vaccinations across the country once a vaccine is approved, the company's chief medical officer said Thursday. In a post on the company's website, Dr. Tom Van Gilder said the retailer is preparing its more than 5,000 stores and Sam's Club locations to receive the vaccine doses - such as having freezers and dry ice at pharmacies to store them at the right temperature. "I know we are all ready to get back to normal and enjoy life beyond the epidemic, and these vaccines will help us do that," he said. Walmart is one of several companies gearing up for coronavirus vaccines, especially as the much-awaited doses get closer to approval and availability in the U.S. There are six vaccine candidates, including one developed by Pfizer and BioNTech that a Food and Drug Administration panel recommended for emergency use at a meeting Thursday. If the FDA gives the final OK, it could become the first vaccine distributed in the country. As the coronavirus pandemic continues to rage nationwide, the vaccine's availability could help slow the spread and get the economy back on track. More than 15 million Americans have gotten sick and more than 286,000 have died from Covid-19, according to data compiled by Johns Hopkins University. Wednesday marked the deadliest day of the pandemic for the U.S., as the country recorded 3,124 new coronavirus deaths, according to a CNBC analysis of the data. Health-care workers and residents and staff at long-term care facilities should be the first in line for the Covid-19 vaccines, according to the Centers for Disease Control and Prevention, but states and jurisdictions will ultimately decide who is prioritized. CVS Health and Walgreens have struck deals with the government to administer the vaccine to staff and residents at nursing homes and other facilities. On Thursday, CVS CEO Larry Merlo said on CNBC's "Squawk Box" that the company is ready to start vaccinations at those locations within 24 to 48 hours of receiving its share of vaccines. "Pending approval, I'm confident that we'll be in thousands of facilities before the Christmas holiday," he said. Gilder said Walmart is entering into agreements with states to be able to offer vaccinations at pharmacies or other locations, such as long-term care facilities. He did not specify the states or any agreements that the company has signed. A Walmart spokesperson declined to share additional details. He said Walmart has begun to tackle other challenges that could slow down or complicate a widespread rollout to the general public, including educating employees about the vaccine so they're informed ahead of time. Walmart is also thinking through a process to help people keep track of their first and second doses of the vaccine. The vaccines that require two doses must be separated by 21 or 28 days, depending on which one, and that timing boosts effectiveness. Gilder said Walmart already has health-care staff who administer millions of doses of other vaccines. He said it's uniquely positioned to help get the vaccine to many Americans. "With 90% of the American population living within 10 miles of a Walmart, we will play an important part in making sure those who want a vaccine can get one when they are eligible based on their state's prioritization, especially those in hard to reach parts of the country that have recently been hit hard by the epidemic," he said. Source: CNBC Nov 27, 2020: Walmart, Target winners in online holiday shopping boom: Cowen analyst Oliver Chen, Cowen senior retail analyst, joins "Squawk on the Street" to discuss the holiday shopping winners and losers in midst of the pandemic. Source: CNBC Nov 19, 2020: Walmart and McDonald's are among top employers of Medicaid and food stamp beneficiaries, report says Walmart and McDonald's are among the top employers of beneficiaries of federal aid programs like Medicaid and food stamps, according to a study by the nonpartisan Government Accountability Office. The question of how much taxpayers contribute to maintaining basic living standards for employees at some of the nation's largest low-wage companies has long been a flashpoint in the debate over minimum wage laws and the ongoing effort to unionize these sectors. Sen. Bernie Sanders, I-Vt., commissioned the study, which was released Wednesday by the congressional watchdog agency. The Washington Post was the first to report on the data. Sanders, who has run for the Democratic nomination for president, is a leading progressive lawmaker and a consistent critic of corporations. Source: CNBC Oct 24, 2020: Walmart Sues DOJ and DEA Seeking Clarity for Pharmacists in Dispensing Prescription Opioids BENTONVILLE, Ark., October 22, 2020 - Walmart has sued the U.S. Department of Justice (DOJ) and the Drug Enforcement Administration (DEA), asking a federal court to clarify the roles and responsibilities of pharmacists and pharmacies under the Controlled Substances Act (CSA). Walmart Inc. v. DOJ, et al. is pending before the U.S. District Court for the Eastern District of Texas. Source: SEC Oct 22, 2020: Walmart and Sam's Club Support Safe Medication Disposal with DEA National Prescription Drug Take Back Day Events in Communities Across the Country BENTONVILLE, Ark., Oct. 21, 2020 - Walmart and Sam's Club are hosting in-person medication disposal events at select store and club locations across the country on Saturday, October 24, as part of the DEA's biannual National Prescription Drug Take Back Day. According to the 2018 National Survey on Drug Use and Health, 9.9 million Americans misused controlled prescription drugs. The study shows that a majority of abused prescription drugs were obtained from family and friends, often from a home medicine cabinet. A complete list of DEA Take Back Day location events can be found at: https://takebackday.dea.gov. Law enforcement will be set up in participating Walmart and Sam's Club parking lots from 10 a.m. to 2 p.m. on October 24 to help the public safely dispose of their unwanted, unused or expired prescription medications. "We recognize the potential danger for misuse and abuse of prescription medications when they fall into the wrong hands. By offering a range of options for safe medication disposal, we can help our customers prevent prescription drug misuse and abuse," Lisa Smith, Senior Director, Clinical Team, Walmart U.S. Health & Wellness, said. Source: Company Website Oct 15, 2020: Walmart CEO Doug McMillon to Congress: Get a stimulus deal done Walmart CEO Doug McMillon on Thursday called on Congress to work together and pass a stimulus deal to help American families and small businesses. "For both sides, I think what they need to keep in mind is that there are Americans that need them, that don't really care about politics, aren't really tied up in this election and they just need some help," he said, in an interview on CNBC's "Squawk Box." He said lawmakers on both sides of the aisle - including House Speaker Nancy Pelosi and Secretary of Treasury Steve Mnuchin - should hammer out an agreement, even if they need to tinker with it and improve upon it over time. Source: CNBC Oct 15, 2020: Walmart CEO on new equity initiative to create access to economic opportunities The Business Roundtable, a non-profit organization made up of over 200 of America's largest employers, announces a new corporate initiative to help create more equitable access to economic opportunities for Black Americans and other communities of color. Doug McMillon, president and CEO of Walmart, joins "Squawk Box" to discuss. Source: CNBC Oct 15, 2020: Walmart CEO says TikTok deal would help make social media more shoppable Walmart CEO Doug McMillon said Thursday that the retailer wants to own part of popular video app TikTok because it sees social media as a huge business opportunity and a powerful way to reach customers. In an interview on CNBC's "Squawk Box," he said Walmart sees TikTok as a "discovery opportunity" for consumers to find merchandise they want to buy. "If you're watching a TikTok video and somebody's got a piece of apparel or an item on it that you really like, what if you could just quickly purchase that item?" he said. "That's what we're seeing happen in countries around the world. And it's intriguing to us, and we would like to be part of it." Source: CNBC Oct 14, 2020: Walmart Walmart plans to hold three separate savings events through the month of November, rather than focusing on "Black Friday," the day after Thanksgiving. The promotions will begin on Walmart.com and continue in the retailer's stores, with the first such event scheduled for November 4. Source: CNBC Oct 14, 2020: Walmart divides Black Friday deals into 3 separate events that kick off online For shoppers who can't part with Black Friday traditions, Walmart said Wednesday that it still plans to have in-store events featuring deep discounts. Yet the holiday sales days will come with pandemic-related precautions. Stores will open at 5 a.m. local time. Customers must line up single-file before they enter. Stores will limit the number of people inside. Employees will distribute sanitized shopping carts. And some, dubbed health ambassadors, will greet shoppers and remind them to put on a mask. Walmart is planning to take steps to discourage crowds and nudge some bargain hunters online, too. The company said it will split up Black Friday into three different holiday sales events, staggered throughout the month of November. Each will begin on its website and hit stores a few days later. Source: CNBC Oct 12, 2020: Big-box retailers like Walmart, Target try to beat Amazon on speed by focusing on curbside pickup As big-box retailers throw their own sales events during Amazon Prime Day, expect to see them tout an asset that the e-commerce giant doesn't have: numerous stores across the country where customers can quickly retrieve their online purchases. Amazon Prime Day starts at 3 a.m. ET Tuesday and lasts through Wednesday. Target will have "Deal Days" and Best Buy will jumpstart Black Friday sales on those days. Walmart holds its "Big Save Event" from 7 p.m. ET Sunday through Thursday. Buy online, pick up in store options - such as curbside and in-store pickup - have gained popularity during the coronavirus pandemic as a safe, convenient alternative to browsing store aisles. Source: CNBC Source: CNBC Oct 11, 2020: Big-box retailers like Walmart, Target try to beat Amazon on speed by focusing on curbside pickup As big-box retailers throw their own sales events during Amazon Prime Day, expect to see them tout an asset that the e-commerce giant doesn't have: numerous stores across the country where customers can quickly retrieve their online purchases. Amazon Prime Day starts at 3 a.m. ET Tuesday and lasts through Wednesday. Target will have "Deal Days" and Best Buy will jumpstart Black Friday sales on those days. Walmart holds its "Big Save Event" from 7 p.m. ET Sunday through Thursday. Buy online, pick up in store options - such as curbside and in-store pickup - have gained popularity during the coronavirus pandemic as a safe, convenient alternative to browsing store aisles. Source: CNBC Oct 08, 2020: Walmart Walmart's Sam's Club unit is planning to sell smaller packages of food for the holiday season, in anticipation of downsized family gatherings due to the pandemic. Source: CNBC Oct 05, 2020: Walmart signs trio of drone deals as it races to play catch-up with Amazon Brent Morgan is one of many Americans who have had a Walmart package dropped off at his home during the coronavirus pandemic. Yet his delivery did not fit the typical mold. A drone flew overhead and dropped a bag in his front lawn. Inside, there was an at-home Covid-19 test kit. The aerial delivery in Morgan's Las Vegas neighborhood is part of a new effort by Walmart to understand how drones could expand its on-demand deliveries and help it better compete with Amazon. Over the past month, Walmart has announced three deals with drone operators to test different uses for the drones. It's teamed up with Flytrex to deliver groceries and household essentials in Fayetteville, North Carolina. It plans to launch another pilot project with Zipline, a company best known for its medical drone deliveries in African countries like Ghana and Rwanda, for on-demand deliveries of health and wellness products early next year. And it's testing deliveries of at-home Covid-19 test kits with Quest Diagnostics and DroneUp in Las Vegas and Cheektowaga, a suburb of Buffalo, New York. Drones, once seen as futuristic or a novelty, have gained traction as a potentially mainstream way for retailers to deliver purchases to their customers. Growing e-commerce sales have intensified pressure on retailers to speed up deliveries and use quick turnaround times as a differentiator. More Americans have gotten used to drones, as they have seen them in the sky or bought a hobby drone of their own. And pandemic-related trends, such as shopping from the couch instead of the store aisle and limiting contact with strangers, could broaden their appeal, too. Tom Ward, Walmart's senior vice president of customer products, said drones could be another way to use its giant big-box stores "to serve customers in as many ways as we possibly can that suits their needs, whether that's speed or convenience." "Drones now are at a place where I think that technology represents a huge opportunity," he said. Yet Walmart and its rivals will have to overcome a variety of hurdles, such as bringing down the cost of deliveries and overcoming pushback from people who may see buzzing delivery vehicles over their backyard as a nuisance or invasion of privacy. Walmart has not released terms of its deals with the drone companies and would not say how it splits costs. Ward said the retailer is still testing and trying to better understand what consumers want and what the deliveries would cost. He said Walmart doesn't yet know when drone deliveries may become widely available across the U.S. "Where we see success and where we can see this proposition make sense for the customers and make sense for the business, we will move really quickly," he said. Source: CNBC Sep 23, 2020: Walmart looks to hire 20,000 workers to help pack and ship holiday orders this year Walmart said it will hire 20,000 seasonal employees who will help pack and ship online purchases at its fulfillment centers as it anticipates more holiday shopping to shift online during the coronavirus pandemic. It marks the first time in five years that the big-box retailer has announced significant holiday hiring. The company is adding the seasonal workers, even after its pandemic-fueled spree. Since March, it has hired more than 500,000 employees across its U.S. stores and supply chain to keep up with demand for a wide range of items, from groceries to hair color and bicycles. Over the past few years, Walmart has largely given extra hours to its existing employees to keep up with the pace of holiday shopping. However, this year the pandemic could complicate how the season unfolds. New Covid-19 cases are rising by a weekly average of 5% or more in 29 states and Washington, D.C., according to a CNBC analysis of data compiled by Johns Hopkins University. And public health officials are concerned those numbers could grow as colder temperatures force people inside. In a news release Wednesday, Walmart said it will stretch Black Friday sales throughout the holiday season and have more deals online, rather than squeezing them into a single day that jams up stores - though it shared few details about specific offers. Holiday sales could rise by 1% to 1.5% this year, according to an estimate from consulting firm Deloitte. However, it said actual spending will hinge on how much high-income consumers spend on lavish gifts and how much lower-income families pull back because of unemployment or uncertainty. Another consulting firm, AlixPartners, said many Americans will begin buying holiday gifts before Halloween as traditions like "doorbuster" sales and one-day Black Friday deals fade away. Several retailers including Walmart, Target and J.C. Penney have already said they will remain shut on Thanksgiving Day. For this reason, AlixPartners is including October in its holiday sales forecast, and estimates an increase of 1% to 2.6% in sales over the same three-month period last year. Walmart said it anticipates that many trends that began during the pandemic may continue or intensify over the typically busy shopping season. For example, it said, people's holiday wish lists may reflect their new and simpler routines. They may ask for items like exercise equipment, since they aren't going to the gym. Customers may buy their family and friends athleisure or sleepwear for lounging around at home. And people may treat their new work-from-home buddy to a cozy new dog bed or squeaky toy. "Over the past six months, our customers have been shopping differently, and we expect that will continue into the most important shopping season of the year - the holidays," said Scott McCall, chief merchandising officer of Walmart U.S. "We've heard from our customers that many plan on starting their holiday shopping well before Black Friday, and that they're looking for gifts that fit their current lifestyle." Other retailers have begun offering glimpses of what they see ahead as well. Macy's CEO Jeff Gennette predicted consumers will buy beauty and home items as people exchange fewer experiential gifts like a spa gift card or movie tickets. Lowe's speeded up the installation of store lockers in major metro markets, anticipating people may prefer to retrieve their own online purchases of Christmas decor or a power tool gift without interacting with employees or other customers. Home Depot said it has teamed with Pinterest to inspire homemade gift ideas, an option that may appeal to the growing number of Americans tackling DIY projects or tightening their belt because of the recession. And numerous companies are trying to reduce crowds and encourage shopping by extending promotions over a number of months. Home Depot, for example, said its Black Friday specials will last nearly two months. Target said holiday deals will start in October. And media reports have suggested that Amazon will hold its delayed sales event, Prime Day, on Oct. 13. Some aspects of the Walmart shopping experience will remain the same, however: The retailer said it will keep up safety procedures, such as a requiring masks. It will also continue shortened store hours, something that will keep stores clean and stocked - but also could cut into parents' late-night shopping trips. Source: CNBC Sep 22, 2020: Walmart The retailer is partnering with Goldman Sachs (GS) to provide lines of credit to third-party merchants who sell their products on Walmart.com. Source: CNBC Sep 21, 2020: Jim Cramer on the politics behind the Oracle and Walmart-TikTok deal "Chinese are going to have to accelerate the distribution of their stock now at the time of the Oracle-Walmart investment, which is something the president really wants," CNBC's Jim Cramer said Monday. "The Chinese have not wanted that, but it sounds like the Chinese are going to have to give in because the president wants a huge win here, and he'll get it if they do accelerate and therefore there will be no Chinese stake when the Walmart-Oracle deal closes." Source: CNBC Sep 21, 2020: Trump: Oracle, Walmart must have total control of TikTok President Trump created confusion on Monday morning after describing the deal between Oracle, Walmart and TikTok in different terms compared to how the parties themselves described it over the weekend. CNBC's Eamon Javers reports. Source: CNBC Sep 21, 2020: Walmart Oracle and Walmart shares rose 1.9% and 0.7%, respectively after President Donald Trump said over the weekend he approved a deal in which the two companies would partner with social video app TikTok in the U.S. "I approved the deal in concept," Trump said Saturday. Source: CNBC Sep 21, 2020: Why TikTok deal could mean big growth for Walmart's ads business Walmart confirmed over the weekend it had tentatively agreed to purchase a 7.5% stake of TikTok in the U.S., alongside Oracle's larger 12.5% stake. That deal could be a boon for the retailer's tiny but growing advertising business. Although it's known for its big-box stores, Walmart has an advertising business that resembles Amazon's, albeit on a much smaller scale. On Walmart's own website, advertisers can sponsor their products to appear prominently in search or on product detail pages. It also has a display advertising network, which lets advertisers reach Walmart customers both on the retailer's own digital properties and off-site, whether that's on other websites or on social channels like Instagram or Pinterest. Walmart Media Group boasts about its "massive scale" and "massive reach" to advertisers, saying 160 million customers visit its stores or its website every month, and claims 90% of households have shopped at Walmart at least once in the prior 12 months, attributing 2020 data. But in its 2020 annual report, the company said Walmart Media Group along with "fuel and financial services and related products" make up less than 1% of annual net sales. By way of comparison, in Q2, Amazon's "Other" business segment, which "primarily includes sales of advertising services," accounted for $4.2 billion in net sales, a bit less than 5% of the company's total. It's consistently growing around 40% on an annualized basis. Source: CNBC Sep 19, 2020: Trump agrees to TikTok deal with Oracle and Walmart, allowing app's U.S. operations to continue President Donald Trump said Saturday he has approved a deal in principle in which Oracle and Walmart will partner with the viral video-sharing app TikTok in the U.S., allowing the popular app to avoid a shutdown. "I have given the deal my blessing - if they get it done that's great, if they don't that's okay too," Trump told reporters on the White House South Lawn before departing for North Carolina. "I approved the deal in concept." The U.S. Department of Commerce announced it would delay the prohibition of U.S. transactions with TikTok until next Sunday. Shortly after Trump's comments, Oracle announced it was chosen as TikTok's secure cloud provider and will become a minority investor with a 12.5% stake. TikTok confirmed Oracle's role and said it was working with Walmart on a commercial partnership. Walmart said it has tentatively agreed to a purchase 7.5% stake, and CEO Doug McMillon would serve as one of the five board members of the newly created company. "In addition, we would work toward an initial public offering of the company in the United States within the next year to bring even more ownership to American citizens," a Walmart spokesperson said in a statement. TikTok's Chinese parent company ByteDance will own the remaining 80% of TikTok, according to a person familiar with the matter. However, because 40% of ByteDance is owned by U.S. venture capital firms, the Trump administration can technically claim TikTok Global is now majority owned by U.S. money. TikTok said it will maintain and expand its headquarters in the U.S., while bringing 25,000 jobs across the country. Trump had said a new company will likely be incorporated in Texas. Trump said the companies would also make a $5 billion contribution toward an education fund. Oracle and Walmart said in a joint statement that the global TikTok business will pay over $5 billion in new taxes to the U.S. Treasury Department, and that the companies and TikTok investors would build and provide online videos to teach kids about history, science and other subjects. "We're going to be setting up a very large fund for the education of American youth and that'll be great," the president said. "That's the contribution I've been asking for." The outcome could boost Oracle's position as a company that can handle challenging computing workloads and help to resolve a geopolitical dispute between the U.S. and China. TikTok and Oracle both said Monday that ByteDance, the Chinese owner of TikTok, had sent a proposal to the U.S. Treasury Department over the previous weekend. Reports throughout the week said that negotiations were bogged down on the precise details of the deal, including the ownership stakes of Oracle and ByteDance, and control of the recommendation algorithms TikTok uses to promote particular material. Oracle CEO Safra Catz was a member of President Trump's transition team, and Oracle Chairman Larry Ellison threw a fundraising event for Trump earlier this year. "We are a hundred percent confident in our ability to deliver a highly secure environment to TikTok and ensure data privacy to TikTok's American users, and users throughout the world," Catz said in a statement Saturday after Oracle's role was announced. "This greatly improved security and guaranteed privacy will enable the continued rapid growth of the TikTok user community to benefit all stakeholders." Oracle already provides cloud infrastructure to online video services 8x8 and Zoom, among other clients, although Amazon, Microsoft and other companies picked up more cloud revenue than Oracle in 2019, according to estimates from industry research company Gartner. Microsoft had sought to acquire TikTok's operations in the U.S. Canada, Australia and New Zealand, with Walmart as a partner, but said ByteDance had decided not to do that deal. Oracle and Walmart said U.S. TikTok user data would be moved to Oracle's cloud infrastructure. The companies did not provide a timeline. China and the Trump administration have used tariffs in their trade war in recent years, and their disagreements have spilled over into the technology industry. The Treasury Department's Committee on Foreign Investment in the United States pushed for a sale of dating app Grindr by the Chinese company that bought it in 2016, and the committee later looked into ByteDance's 2017 acquisition of Musical.ly, a video sharing app that ByteDance merged with TikTok in 2018, because of national security concerns. A Trump executive order in August in August sought to block U.S. transactions with ByteDance, as well as Tencent, which owns messaging app WeChat. President Trump had taken steps to ban TikTok in the U.S. or make ByteDance sell the app's U.S. assets. The Chinese government subsequently revised export restrictions so that they now cover "recommendation of personalized information services based on data analysis," among other things. TikTok's app draws on recommendation systems to select videos to show each user. Source: CNBC Sep 18, 2020: Final Trades: Walmart, Accenture, Illinois Tool Works & more The "Halftime Report" traders give their top picks to watch for the second half. Source: CNBC Sep 18, 2020: Cramer: Oracle and Walmart need to work harder to please Trump on TikTok deal CNBC's Jim Cramer said Friday that Oracle and Walmart are "scrambling" to find out what else they can do to gain approval from the Trump administration in their bid to acquire minority stakes in Chinese-owned TikTok. "I think that Walmart and Oracle will be working all weekend to try to figure out how they can satisfy [President Donald Trump]. I think they already feel they've given him everything they can but obviously that's not going to get it done," Cramer said on "Squawk Box." Cramer's comments Friday came shortly after the Commerce Department said it plans to ban U.S. business transactions with TikTok and another Chinese app, WeChat. It was the latest development in a weekslong saga regarding the fate of the apps, which Trump has claimed present a national security risk. In an emailed statement, TikTok said it had already made numerous concessions to address security concerns raised by the Trump Administration, including choosing a U.S. company to host its data and services. Cramer, host of "Mad Money," said the fate of any potential TikTok deal likely rests with Trump, who earlier this week said he was not fond of TikTok's current owner, Beijing-based ByteDance, retaining a majority stake in the wildly popular social media app. "The president is the guy doing this. It's not any of his advisors. It's the president, and so nobody knows what's really going to happen," Cramer said. CNBC's David Faber said Friday that he's sticking by his reporting. "I don't think there's anything in today's news from Commerce that indicates that it's not possible Trump will sign off on this transaction. It is possible he will come to the rescue. That is sort of the dramatic denouement that he likes." Sources told Faber Thursday that to address ownership concerns, ByteDance plans to do an initial public offering of global TikTok on a U.S. exchange, according to people familiar with the matter. Oracle would own a minority stake. Walmart would also take a stake. Chinese officials would also have a say in any potential deal involving TikTok, which could further complicate any resolution. Trump on Wednesday backed off his demand that the U.S. Treasury get paid as part of the deal. Based on his reporting, Cramer said he believes the Commerce Department's actions Friday are likely meant to apply additional pressure on Oracle and Walmart to take larger stakes in TikTok. Another motivation could be to accelerate the timeline of global TikTok's IPO, Cramer said. "An IPO that's not 12 months from now, but an IPO that's now. Contact a banker, and they do an IPO in four weeks," he said. "I think it's a deal if they do that, but I just can't see them willing to give in any more than they have." Faber sees WeChat as a more serious issue. WeChat, which is widely used in the U.S. by Chinese expats and others to communicate with friends and associates in China, is owned by Chinese tech powerhouse Tencent Holdings. Commerce Secretary Wilbur Ross on Friday said the department's order applies to WeChat and TikTok differently, with more stringent restrictions hitting TikTok starting Nov. 12. That could potentially be to allow for more time for Oracle and Walmart to negotiate a deal that Trump would approve. Although that could be the case, Cramer said he believes the companies "view it as this weekend or nothing." Oracle did not respond to CNBC's request for comment. A Walmart spokesman declined to comment. Source: CNBC Sep 17, 2020: Walmart: Trump expected to rule on TikTok deal in the next 24 to 36 hours, sources tell CNBC President Donald Trump is expected to make a decision on TikTok's fate in the U.S. in the next 24-36 hours, sources tell CNBC's David Faber. Walmart is also expected to partner with Oracle in a deal where Oracle would own roughly 20 percent of the social media app, according to the sources. Source: CNBC Sep 17, 2020: Walmart: President Trump expected to rule on TikTok deal in the next 24 to 36 hours Walmart will partner with Oracle on the TikTok deal, sources tell CNBC. President Trump is also expected to rule on the deal in the next 24 to 36 hours. CNBC's David Faber joins 'Squawk on the Street' to discuss. Source: CNBC Sep 17, 2020: TikTok set to IPO globally if Trump approves deal with Oracle, Walmart President Donald Trump is expected to decide on TikTok's fate in the U.S. in the next 24-36 hours, sources told CNBC's David Faber. To address ownership concerns, ByteDance plans to do an initial public offering of global TikTok on a U.S. stock exchange, according to people familiar with the matter. Oracle will also own a minority stake that will be less than 20% of the new global TikTok, two of the people said. Walmart will also take a stake, though its size is still unknown, according to two of the people. The Treasury Department sent major revisions about security issues on the TikTok/Oracle term sheet Wednesday night, sources told CNBC's Sara Eisen. ByteDance has fully agreed to those revisions, the sources said, although it's unclear what the changes entailed. Trump has been meeting with Cabinet members and other advisers as he decides whether or not to approve the deal, according to others familiar with the matter, who asked not to be named because the talks are private. There are mixed points of views among his advisers, who include Secretary of State Mike Pompeo, Secretary of Treasury Steve Mnuchin and Jared Kushner, the president's son-in-law, one of the people said. An initial public offering of TikTok would likely be the largest technology IPO in recent years. Private valuations of the company have been estimated to be about $50 billion. Recent public offerings, such as Snowflake, have added billions of dollars in valuation when stocks hit the public markets. Source: CNBC Sep 17, 2020: Oracle, Walmart stakes in TikTok likely less than 20%: Sources CNBC's Julia Boorstin reports on the latest news on TikTok and when Trump may make a decision on the deal. Source: CNBC Sep 15, 2020: Walmart The big-box retailer's membership program, Walmart+, officially launches on Tuesday, as a competitor to Amazon.com's Prime. The membership includes unlimited free delivery on orders over $35, and discounts on gas, among other things. Source: CNBC Sep 14, 2020: Walmart and Zipline team up to bring their own drone delivery to the U.S. Walmart and Zipline are teaming up to bring their own version of drone delivery to the U.S. If successful, the service has the potential to expand to general merchandise Source: CNBC Sep 03, 2020: Walmart gets creative, goes virtual as it plans for holiday toy shopping Before each holiday season, Walmart gathers hundreds of kids at a convention center near its Arkansas headquarters. The young testers try out lots of toys and pick those they would like to get from Santa. That shapes the retailer's list of top toys and determines which ones it orders in abundance. This year, the company mailed toys to several dozen kids to test at home. It's one example of how the coronavirus pandemic has changed norms for the holiday season - even before it has truly begun. Walmart had to come up with the workaround for its toy testing group to compile its list of top-rated toys. It developed an online tool that lets kids virtually unbox, test and play with toys since multiple kids can't wheel around the same truck or play with the same doll in store aisles or at demos due to the pandemic. Walmart Wonder Lab will allow kids to try over 100 toys and guide virtual hands to interact with them. It's a scaled-up version of a tool the company had the past two holiday seasons. Walmart's Brad Bedwell said the retailer has shipped more toys to fulfillment centers this year because it anticipates many customers to buy them online. Toys that will be sold this holiday season hit store shelves in August to see how they performed, said Bedwell, merchandising director of preschool toys and omni merchandising. This year's top-rated toys range from classics like Lego to outdoor toys like scooters and hoverboards to unique products like Squeakee, a interactive balloon dog from Moose Toys that makes sounds and does tricks and sells for $59.88. Unlike last holiday season, there will also be a number of items tied to the popular Disney+ show "The Mandalorian," including a Bop It! game designed to look like The Child, made by Hasbro, that will sell for $14.88 Source: CNBC Sep 03, 2020: Amazon will 'take over the world' from Walmart and keep growing: Analyst Walmart's newly launched subscription program can't challenge Amazon; and Amazon's stock will continue to rise if they can keep SG&A spending flat, says Michael Pachter of Wedbush Securities. Source: CNBC Sep 01, 2020: Trading Nation: Walmart rallies on details of membership programs Todd Gordon of Ascent Wealth Partners and Quint Tatro of Joule Financial discuss how they're processing Walmart's announcement of Walmart+ and if they continue to favor Amazon over Walmart with Seema Mody. Source: CNBC Sep 01, 2020: Walmart Walmart shares popped more than 6% after the retailer said it would launch its own membership service, Walmart+, later this month. The new service will feature unlimited free delivery and discounts of as much as 5 cents a gallon for fuel. Walmart was also the best-performing Dow component around midday. Source: CNBC Aug 31, 2020: Walmart Shares of the retailer slipped over 3% following a downgrade to hold at R5 Capital. "We see a more muted outlook for sales over the next 12 months," the firm said on Monday. R5 Capital has a $147 target on the stock, which is abut 9% above where it currently trades. Source: CNBC Aug 28, 2020: Walmart could provide opportunities in e-commerce synergies, says interim head of TikTok Walmart said Thursday that it's teaming up with Microsoft in a bid for TikTok. Vanessa Pappas, interim head of TikTok, joins "Squawk Box" to discuss Walmart joining the talks. Source: CNBC Aug 28, 2020: Hurricane Laura Facility Status The safety of our associates and customers is our top priority. Walmart's Emergency Operations Center monitors hurricanes and other potential disasters in real time. We assess the status of our facilities and will continue to operate as long as it is safe to do so. We pay close attention and follow local and/or state evacuation mandates. Source: Company Website Aug 28, 2020: Acquiring TikTok makes strategic sense for Walmart, would send stock higher: Retail analyst CNBC's "Power Lunch" team discusses what a TikTok acquisition could mean for Walmart and Microsoft with Michael Baker, senior retail analyst for Nomura Instinet. Source: CNBC Aug 28, 2020: TikTok's current head explains how Walmart fits into its recent e-commerce push Following CNBC's report Thursday that Walmart is teaming up with Microsoft in its effort to buy TikTok, the social media app's interim head Vanessa Pappas said the social media upstart and retail giant already have a common interest. "For us, we've been really focused recently on rolling out some e-commerce features. We've been providing that for our creator community as another way for them to earn a livelihood," Pappas said in an interview on CNBC's "Squawk Box" Friday. "I think there's a lot of different synergies there." TikTok began testing new social commerce features last year by allowing some users to add links to their profiles and videos. Levi's was among the first retail brands to use TikTok's new "Shop Now" feature to direct users to merchandise. The company partnered with influencers to spread their message and reported high engagement and traffic to its website in early tests as of April, according to TechCrunch. TikTok is under pressure to sell to an American company before Sept. 20 when an executive order banning U.S. entities from transactions with the app would go into effect. The Trump administration has raised national security concerns with TikTok due to its Chinese parent company, ByteDance. Members of both parties in Congress have shared fears over the potential for ByteDance to be compelled by the Chinese Communist Party to share American user data. TikTok has repeatedly disputed that it would share data with Chinese officials, saying TikTok is not offered in China and data for the app is not stored in the country. Microsoft was the first to emerge as a potential buyer for TikTok as pressure mounted. Though it has had a mixed record on consumer offerings, Microsoft would be able to offer TikTok a strong cloud infrastructure at a well-resourced company. Oracle, another cloud provider, has also emerged as a potential buyer. Walmart teamed up with Microsoft after its attempt to become majority owner of TikTok through a partnership with SoftBank and Google-parent Alphabet fell apart, CNBC previously reported. Pappas said she's not directly involved in deal talks but saw strengths in both Microsoft and Oracle as technology providers. "I think if you look at the various players and the partners that we're hearing from, I think they're amazing tech companies," she said. "Oracle has its strengths in terms of being a leading data infrastructure company and focused on security, Microsoft as well, great security and privacy platform as well as everything they're doing with cloud." Pappas took the helm at TikTok after former CEO Kevin Mayer announced his resignation this week. Mayer, a former Disney executive who was thought to be in contention for that CEO job before it was filled by Bob Chapek, said he had been looking forward to running a global company. That the actions of the U.S. government seemed to have changed the role he signed up for. A deal to buy TikTok's U.S., Canadian, Australian and New Zealand operations could be announced as soon as next week, sources told CNBC. The deal is likely to be valued at $20 billion to $30 billion, according to the sources. Source: CNBC Aug 28, 2020: Walmart's 2020 ESG Efforts: Making Important Progress Toward Positive Societal, Environmental Change By Kathleen McLaughlin, Executive Vice President and Chief Sustainability Officer I am excited to let you know that today we released Walmart's 2020 Environmental, Social and Governance (ESG) Report, which covers the fiscal year ending on Jan. 31, 2020 (FY2020). Source: Company Website Aug 28, 2020: Walmart Statement Regarding Discussions with Microsoft About TikTok Walmart Inc. issued a public statement regarding discussions with Microsoft involving ByteDance Ltd.'s TikTok service in the United States: Source: Company Website Aug 28, 2020: How Walmart teaming up with Microsoft in TikTok bid could affect the talks Adam Singolda, founder and CEO of content discovery and advertising platform Taboola, and Rich Greenfield, partner at LightShed Partners, joins "Squawk Box" to discuss Walmart teaming up with Microsoft to make a bid for TikTok's U.S. assets. Source: CNBC Aug 27, 2020: With bid for TikTok, Walmart looks to turn a political turf war to its own advantage For Walmart, a political tug of war over TikTok has become an opportunity to nab an app with a huge fan following. The company confirmed Thursday that it's teaming up with Microsoft to buy the tech platform, which is owned by Beijing-based ByteDance. TikTok's parent company is looking for a buyer after the U.S. government pushed for a ban of the app and alleged the Chinese government could access user data. TikTok has denied those allegations and is challenging the U.S. government in a lawsuit. ByteDance is weighing other offers, including one from Oracle, but could pick the buyer in coming days, according to people familiar with the matter. For some, the big-box retailer - best known for its giant Supercenters and its low prices - may seem like an unlikely buyer for the tech platform of viral videos and numerous teenage users. Yet Walmart's background as a retailer rather than a tech company may actually give it an edge. Some companies, such as Amazon or Facebook, have been boxed out of the bidding war because they already have a huge tech presence and would raise antitrust concerns. "For Walmart, it would be a coup to get part of this asset," said Daniel Ives, managing director and technology analyst at Wedbush Securities. "It really falls into their lap, given the political backdrop." TikTok fits into Walmart's broader strategy to expand its reach with customers, collect valuable consumer data and amp up its e-commerce business to fend off Amazon, analysts and industry watchers say. It could also shake up its reputation by affiliating itself with the video platform. Walmart could reach hundreds of millions of consumers with the app. TikTok has about 100 million monthly active U.S. users, an increase of nearly 800% from January 2018, according to a lawsuit filing by the company. TikTok said it has more than 50 million daily U.S. users. By owning TikTok, Walmart and Microsoft could both shake up their reputation and affiliate themselves with an app that's extremely popular among teens and kids. "This would be really changing the perception of your grandfather's Microsoft and Walmart," Ives said. It is unclear how Walmart and Microsoft would structure the deal and how much they'd pay for TikTok. The deal is expected to be in the $20 billion to $30 billion range, sources say. Walmart spokesman Randy Hargrove declined to say how Walmart would split ownership of TikTok or say whether it would be the majority owner. Walmart has made numerous acquisitions of brands known for their online savvy and ability to attract a younger audience. It bought Jet.com for $3.3 billion in 2016 to fuel its e-commerce expansion. It purchased digital natives, including menswear brand Bonobos and plus-size women's clothing line Eloquii, among others. Some of the companies, including ModCloth, however, it's bought only to sell them soon after. On Thursday, Walmart confirmed it's selling two other online brands it acquired: Shoes.com and Bare Necessities. The retailer also has an incubation arm, Store No. 8, that's based in Silicon Valley. It's tested new concepts and launched brands. By making a bid on TikTok with Microsoft, Walmart is changing its strategy on content. It's considered breaking into the video and entertainment business several times before, only to drop those plans. Among them, it bought video-on-demand service Vudu in 2010 for an undisclosed sum - but then sold it to movie ticketing company Fandango this year. About two years ago, Walmart considered starting its own streaming service aimed at "middle America" and held talks with former Epix CEO Mark Greenberg. Walmart decided not to move forward those plans after balking on spending billions of dollars for new content. Walmart's rival, Amazon, has used original TV and movies as a way to hook customers on its subscription service, Amazon Prime. Walmart confirmed it will launch its own membership program, Walmart+, but has declined to say when it will debut and what perks it will include. TikTok has made a social network out of short videos that often go viral with music, memes, dances and other acts of self-expression. The app has gained a devoted following because of its simplicity and the delight of discovery as its algorithm surfaces random and entertaining videos, said Lauren Kozak, senior advisor of social media, analytics and data-driven marketing for The Diffusion Group, a media research and insights firm. Kozak said Walmart's pursuit of TikTok makes sense as it tries to transform into more of a tech company and gain a better understanding of young consumers. Yet, she said, if Walmart buys TikTok and tinkers with it, it could drive users away. She said that's especially true with its young users who "are very sensitive to corporate control and corporate branding." "If they do too much with it, it will ruin TikTok and users will go somewhere else," she said. "It will kind of gross them out and make them feel like they have a corporate overlord. It's possible the very act of them buying it could break it." Source: CNBC Aug 27, 2020: Walmart is teaming up with Microsoft on TikTok bid Walmart said Thursday that it's teaming up with Microsoft in a bid for TikTok. The retail giant confirmed to CNBC that it's interested in buying the popular short-form video application. Walmart shares hit a 52-week high of $139.35 on Thursday. At the close, they were up nearly 5% to $136.63, bringing the company's market cap to almost $387 billion. TikTok's Beijing-based parent company, ByteDance, is nearing an agreement to sell its U.S., Canadian, Australian and New Zealand operations in a deal that's likely to be in the $20 billion to $30 billion range, sources say. It has not yet chosen a buyer, but could announce the deal in coming days, the sources say. With Walmart's confirmation, it joins several others trying to acquire the tech company, including Oracle. Walmart spokesman Randy Hargrove declined to say how the two companies would split ownership of TikTok, if they had the winning bid, and whether the retailer would be the majority owner. Walmart is pursuing the acquisition at a time when it's trying to better compete with Amazon. It plans to launch a membership program, called Walmart+, soon. The subscription-based service is the retailer's answer to Amazon Prime, which includes original TV shows and movies. In a statement, the big-box retailer said TikTok's integration of e-commerce and advertising "is a clear benefit to creators and users in those markets." It did not say how it would use TikTok or whether it would be part of Walmart+. "We believe a potential relationship with TikTok US in partnership with Microsoft could add this key functionality and provide Walmart with an important way for us to reach and serve omnichannel customers as well as grow our third-party marketplace and advertising businesses," it said. "We are confident that a Walmart and Microsoft partnership would meet both the expectations of US TikTok users while satisfying the concerns of US government regulators." The deal, if approved, would give Walmart and Microsoft access to hundreds of millions of consumers who could buy their products or become a lucrative audience for ads. In a filing this week, TikTok said it has nearly 100 million monthly active U.S. users. That's up nearly 800% from January 2018. Daniel Ives, managing director and technology analyst at Wedbush Securities, described TikTok as "a huge shot in the arm" for Walmart's e-commerce business. "When you think right now about going up against the 800-pound gorilla, Amazon, obviously they've been behind the eight ball," he said. "But Walmart could use this as a golden opportunity to partner with Microsoft and monetize the TikTok base, which could start to rival Instagram in the next few years just given its global presence." He gave the bid an 85% to 90% chance of going through. On Walmart's recent earnings call, CEO Doug McMillon did not say when Walmart+ would launch or which perks it would include, but he acknowledged the buzz around it. He said the membership program will speed up deliveries for customers through curbside pickup and delivery, strengthen relationships with them, and collect valuable data. Walmart had previously worked on a deal with SoftBank, but that bid faced resistance from the U.S. government because it did not include a cloud technology backbone component, people familiar with the matter said. With Microsoft involved, Walmart could be better positioned. Two years ago, Walmart announced a five-year cloud deal with Microsoft. The retailer adopted Microsoft's Azure cloud infrastructure and a bundle that includes the Office 365 productivity applications. TikTok was pushed to look for a buyer after U.S. Secretary of State Mike Pompeo said in July that he was considering banning TikTok and other Chinese applications for security reasons. The U.S. government said it's concerned the Chinese government can access user data collected by TikTok. The Pentagon banned TikTok from government-issued mobile devices in January. The U.S. House of Representatives and U.S. Senate followed suit this summer. President Donald Trump joined calls for the app's ban. His presidential campaign urged people with ads on Facebook and Instagram to sign a petition. Trump signed an executive order on Aug. 6, alleging China may potentially have access to "Americans' personal and proprietary information" through data collected by TikTok. The app has repeatedly denied those allegations. It says its user data is stored in the U.S., with a backup in Singapore, and its data centers are not located in China. On Thursday, TikTok CEO Kevin Mayer quit the company, citing political pressure and the forced sale. He announced his departure just months after starting in the role. "I understand that the role that I signed up for-including running TikTok globally-will look very different as a result of the US Administration's action to push for a sell off of the US business," he said in the memo obtained by CNBC. Source: CNBC Aug 27, 2020: Why Walmart got into the TikTok bidding war CNBC's Alex Sherman reported that Walmart is teaming up with Microsoft in the company's bid for TikTok. He joins 'Power Lunch' to discuss why Walmart is getting in on the action. Source: CNBC Aug 27, 2020: Walmart Shares of Walmart jumped 4.5% to its session high after the supermarket chain confirmed it's teaming up with Microsoft in a bid for popular Chinese social media app TikTok. TikTok is nearing an agreement to sell its U.S., Canadian, Australian and New Zealand operations in a deal likely in the $20 billion to $30 billion range and it could announce a deal in the coming days, sources say. Microsoft shares gained nearly 2.5%. Source: CNBC Aug 27, 2020: Cowen analyst Oliver Chen says Walmart's bid for TikTok is a great vehicle for reaching new customers Cowen analyst Oliver Chen joins 'Closing Bell' to discuss his thoughts on Gap and retail as well as Walmart's bid for popular video platform TikTok. Source: CNBC Aug 25, 2020: Walmart's Emergency Operations Center Manages a Once-in-a-Century Pandemic If this whole collective out-of-body experience were a movie, the opening scene might take place here in the Emergency Operations Center (EOC) at the Home Office in Bentonville, Arkansas, camera scanning along a bank of television monitors on the wall, data flooding the screens, associates deciphering it instantly. You can almost see the minds at work, digesting information, separating the good from the bad, the bad from the potentially catastrophic. Source: Company Website Aug 20, 2020: Walmart: This is Our Playbook; We Solve Problems': Walmart's Emergency Operations Center Manages a Once-in-a-Century Pandemic If this whole collective out-of-body experience were a movie, the opening scene might take place here in the Emergency Operations Center (EOC) at the Home Office in Bentonville, Arkansas, camera scanning along a bank of television monitors on the wall, data flooding the screens, associates deciphering it instantly. You can almost see the minds at work, digesting information, separating the good from the bad, the bad from the potentially catastrophic. Source: Company Website Aug 19, 2020: Walmart says its second-quarter e-commerce sales surged 104% in China Walmart's online shopping strategy is paying off in China, arguably one of the most developed e-commerce markets in the world. The giant discount retailer reported Tuesday that net e-commerce sales in China grew 104% from a year ago in the three months ended July 31. That's a faster pace than the 97% growth posted for net e-commerce sales in the U.S. The company's fiscal second-quarter results handily beat analyst estimates on both revenue and earnings per share. The U.S. is still by far Walmart's largest market, with net sales of $93.3 billion in the second quarter versus $27.2 billion for the rest of the world. Walmart does not break out net sales for China, but noted that operating income did increase for the region. The company also said its higher-end membership Sam's Club stores saw double-digit comparable sales growth in China. Source: CNBC Aug 19, 2020: Cramer: Walmart needs to be cautious going forward despite blowout Q2 earnings Cramer: Walmart needs to be cautious going forward despite blowout Q2 earnings Source: CNBC Aug 19, 2020: Walmart says consumer spending dropped as stimulus checks ran out Walmart's fiscal second-quarter sales got a boost from this spring's stimulus checks, but that tapered off in July as shoppers spent that money. Now, the retail giant is waiting to see if the government will put more cash in consumers' pockets and give the company another bounce - or if it will have to rely on other coronavirus pandemic-related trends to buoy sales, such as Americans cooking at home and fixing up their yards. Walmart reported a strong second quarter Tuesday, fueled by a 97% jump in e-commerce sales in the U.S. Walmart CEO Doug McMillon said the company benefited from Americans buying groceries, looking for ways to stay entertained during the pandemic and spending money on their homes. Some of those dollars came from government stimulus. Yet the company did not provide a financial outlook for the rest of the year. In an interview with CNBC, Walmart Chief Financial Officer Brett Biggs pointed to government stimulus as a factor that's creating uncertainty during the public health crisis. Source: CNBC Aug 18, 2020: Walmart blows away earnings expectations. What Cramer and others are watching in retail Big-box retailers are crushing earnings season. Shares of Walmart and Home Depot both hit all-time highs Tuesday after the companies blew past analysts' earnings expectations. Their stocks cooled off later in the session. Walmart delivered its biggest earnings surprise in 31 years with a 97% increase in e-commerce sales for the fiscal second quarter. Home Depot's quarterly sales jumped 23%. Market commentators including CNBC's Jim Cramer recommend playing the space strategically. Source: CNBC Aug 18, 2020: Walmart teases launch of Walmart+ membership program as e-commerce sales surge during pandemic Walmart gave investors a few hints about its forthcoming membership program Tuesday, saying it will offer customers benefits like speedy deliveries and low prices. For the past few months, investors and analysts have watched and waited for the launch of Walmart+. The big-box retailer confirmed in late February that it's developing the subscription-based service. It's expected to rival Amazon Prime with perks aimed at driving sales and loyalty. Walmart CEO Doug McMillon acknowledged there's "a lot of buzz" around the service and laid out a bit of the retailer's strategy on a Tuesday earnings call. He said the program will emphasize customer experience with benefits, such as fast, convenient pickup and delivery. For the retailer, he said, it will strengthen relationships with shoppers. That will encourage repeat and bulk purchases and provide data about customer preferences, he said. He did not say when Walmart+ will launch and what it will cost. McMillon said Walmart has learned from its unlimited grocery delivery membership service, which it has tested since late last year. "Since that launch we have proven to ourselves that we can pick and deliver a broad set of categories across the Supercenter - not just food and consumables, but a wide assortment of general merchandise," he said. "We think that assortment breadth and our ability to deliver with speed nationally combined with a few other benefits for customers will result in a compelling proposition." E-commerce sales in the U.S. grew by 97% in the second quarter, which ended July 31, as shoppers bought items ranging from fishing poles and TVs to groceries during the coronavirus pandemic. McMillon said it's variety of options, from curbside to delivery, acknowledge "the customer is ultimately in charge." "We're going to have multiple ways to serve them, and those families will decide in that moment how they want to shop," he said. "And sometimes they'll be in the store, and sometimes they'll do pickup, and sometimes they'll do delivery, and many of them will buy a membership, and when they do they'll get benefits from that." Source: CNBC Aug 18, 2020: Walmart Walmart shares dipped 0.7% even after the biggest U.S. retailer posted stronger-than-expected results for the previous quarter. The company posted a profit of $1.56 per share on revenue of $137.74 billion. Analysts polled by Refinitiv expected earnings per share of $1.25 per share on revenue of $135.48 billion. Those results were driven in part by a 97% surge in online sales. However, the company also noted that consumer spending dropped during the quarter as U.S. stimulus checks ran out. Source: CNBC Aug 18, 2020: Cramer: Walmart can't repeat blowout quarter without new coronavirus stimulus from Washington CNBC's Jim Cramer said Tuesday that Walmart is a "remarkable juggernaut" but it won't be able to keep up the blistering growth that it saw in the second quarter without more help from D.C. lawmakers. "I think the company needs to be a little cautious because unless there's another deal from Washington they won't be able to maintain that pace," Cramer said on "Squawk Box." Addressing the reversal of Walmart's initial 6% pop in the premarket following its blockbuster earnings report, Cramer said investors should not be discouraged. "That doesn't mean that it's not a buy. But it does mean that they are staying, 'Whoa, this isn't going to keep happening," "We've seen this many times," the "Mad Money" host added. "These companies come in too hot. They say good things but they also say, 'Listen, we don't know if we can possibly continue it.' People take the latter. And then, two days later they forget the negative and they start buying it again." Shares of Walmart, which hit all-time highs Monday, were slightly higher shortly after the open but then turned lower. Earlier Tuesday, Walmart blew away expectations with adjusted per-share earnings of $1.56 on total revenue of $137.74 billion as shoppers rushed in to spend their government pandemic stimulus checks. Online sales during the pandemic nearly doubled as customers got packages shipped their homes and used curbside pickup at physical stores. Walmart Chief Financial Officer Brett Biggs told CNBC the retailer could get another bounce if Capitol Hill and the White House can agree on further coronavirus aid. "Stimulus was definitely impactful to the consumer in the second quarter, and we're watching what's going on in Washington." Capitol Hill and the White House are trying to break their logjam on a new stimulus package. Cramer, who is also a small business restaurant co-owner, said later on "Squawk on the Street" that Walmart is a "great American company," but the government can't ignore the struggle of smaller firms in the U.S., which can't afford to compete the big companies and can't afford to implement the coronavirus mitigation measures that make people feel safe. Source: CNBC Aug 17, 2020: Walmart: Forward-Looking Statements The company's net sales and operating results were significantly affected by a continuation of the global health crisis. Increased demand for products across multiple categories led to strong top-line and gross margin results. Source: SEC Aug 13, 2020: What it would take for Walmart to catch Amazon in e-commerce When it comes to brick-and-mortar retail, Walmart is king. It's the largest private sector employer in the U.S. and 90% of Americans live within 10 miles of one of its more than 4,700 U.S. stores. In e-commerce, however, Amazon is the behemoth, with a vastly bigger inventory, millions of third-party sellers and 38.7% of market share compared with Walmart's 5.3%. As the coronavirus pandemic pushes more shoppers online, Walmart is now taking big steps to catch Amazon in e-commerce, from partnering with Instacart to preparing to launch a membership service called Walmart+ as a competitor to Amazon Prime. Watch the video for a detailed look at all the ways Walmart is trying to catch Amazon in the world of online shopping. Source: CNBC Aug 13, 2020: How Walmart is trying to catch Amazon in e-commerce, as it launches Walmart+ to compete with Prime From partnering with Instacart to launching Walmart+ as a competitor to Prime, here are all the ways Walmart is looking to catch up with Amazon's dominance in e-commerce as the pandemic pushes more shoppers online. Source: CNBC Aug 13, 2020: Here are Thursday's biggest analyst calls of the day: Micron, Walmart, Best Buy, Deere & more Here are the biggest calls on Wall Street on Thursday: Oppenheimer upgraded Estee Lauder to outperform from perform Oppenheimer said in its downgrade of the stock that it sees "rapid" recovery primarily driven by the Chinese consumer among other things. Source: CNBC Aug 04, 2020: Walmart Walmart's stock fell 1.5% in extended trading after it was reported that the company has delayed the launch of Walmart+, a subscription service meant to compete with Amazon Prime, for the second time this year, according to Vox. Source: CNBC Jul 30, 2020: Walmart cuts corporate roles as it merges online, store businesses Walmart is cutting corporate roles across the company as it merges its online and store businesses in the U.S. The country's largest retailer confirmed Thursday that it is eliminating some jobs in its back offices - but would not say how many workers will lose their jobs. The layoffs were first reported by Bloomberg. Citing people familiar with the matter, the report said Walmart has laid off hundreds of corporate employees across store planning, logistics and real estate units. "We are continuing on our journey to create an omnichannel organization within our Walmart U.S. business and we're making some additional changes this week," Walmart spokeswoman Jami Lamontagne told CNBC. She said the company will share more details after notifying employees. Walmart is trying to turn its e-commerce business into a profitable one. It's made a series of organizational changes and announcements in recent months. In late February, the company merged its buyer teams on the store and online side to decrease conflicts over the pricing of products online and in-store. It struck deals with secondhand apparel and accessories site ThredUp in May and with Shopify in June to expand the assortment of goods and add new brands to its website. It announced in May that it would wind down its Jet.com brand. And it's expected to launch a subscription-based service called Walmart+ to better compete with Amazon Prime. Online sales have become even more crucial for the retailer during the coronavirus pandemic. Walmart's e-commerce sales in the U.S. shot up by 74% in the first quarter, which ended April 30. In recent months, other retailers have also eliminated corporate positions, as the pandemic and recession heightens financial pressures. Macy's, Nike and L Brands, which owns Victoria's Secret and Bath & Body Works, have all announced plans to reduce head count. However, Walmart has faced a different set of circumstances during the pandemic. As an essential retailer, it's been able to keep stores open. Its sales have jumped as Americans buy more groceries and household essentials as they spend more time at home. Same-store sales grew by 10% and the company's average ticket increased by 16% in the first quarter. In recent months, the big-box retailer has hired more than 400,000 employees for stores and fulfillment centers to help stock shelves and keep up with demand. With the larger workforce, labor costs have risen. Walmart announced three rounds of special bonuses that have totaled $1.1 billion. The company's stock was down about 1% on Thursday. Source: CNBC Jul 27, 2020: Target joins Walmart in staying closed for Thanksgiving this year Two of the biggest retailers in the U.S. are closing their doors on Thanksgiving this year, sidestepping a recent tradition of keeping the lights on for customers to bargain hunt after their turkey dinners. Target said Monday it will close up for Turkey Day, following Walmart's announcement of the same plans last week. Instead, Target is encouraging shoppers to start their holiday shopping even earlier, in October. "Let's face it: Historically, deal hunting and holiday shopping can mean crowded events, and this isn't a year for crowds," the retailer said in a blog post on its website, promising savings across its stores and online "earlier than ever." It also said it will be making more than 20,000 items, including fresh and frozen food, available for curbside pickup and delivery ahead of the holidays, using its Shipt platform. In the midst of the coronavirus pandemic, most agree this holiday season is going to look a lot different than in past years. There's heightened fear around a second wave of Covid-19 cases spiking during the traditional flu season and as temperatures drop. Retailers, in turn, are having to adjust their plans to both meet customers' expectations and be mindful of their employees' safety. Adding to the uncertainty, Amazon has delayed its annual Prime Day shopping event, which is normally in July, to "later than usual" this year. But it has not yet set a firm date. The delayed timing of Amazon's Prime Day will likely put additional pressure on retailers to start their deals even earlier, in a bid to compete. Dick's Sporting Goods also announced Monday that its stores will be closed on Turkey Day this year, including its Golf Galaxy and Field & Stream locations. Target opened for the first time on Thanksgiving Day in 2011. Source: CNBC Jul 24, 2020: Walmart's Majority-Owned Flipkart Launches Wholesale Business to Help Small Businesses in India Source Directly From Manufacturers and Producers BENTONVILLE, Ark., BANGALORE, India - July 23, 2020 - The Flipkart Group, India's homegrown e-commerce group, today announced the launch of Flipkart Wholesale, a new digital marketplace that will help transform India's retail ecosystem by leveraging cutting-edge and locally developed extensive leadership in the consumer e-commerce segment and technology for the country's mom-and-pop "kirana" grocery stores and other small retailers. As part of this launch, the Group also announced the acquisition of 100% interest in Wal-Mart India Private Limited, which operates the Best Price cash-and-carry business, to leverage the strong wholesale capabilities of the company and enable growth and prosperity for the nation's kiranas and micro-, small- and medium-sized enterprises (MSMEs). Source: Company Website Jul 22, 2020: Walmart Invests $428 Million More in Associates with Another Special Bonus; Totaling $1.1 Billion in Special Bonuses So Far This Year BENTONVILLE, Ark., July 21, 2020 - Walmart today announced it will pay out another special cash bonus to store, club, distribution center and fulfillment center associates for their ongoing contributions and dedication to serving customers, members and communities during this unprecedented time. The bonus will be $300 for full-time hourly associates and $150 for part-time hourly and temporary associates. Drivers, Managers and Assistant Managers in stores, clubs, DCs, FCs and Health & Wellness will also receive a bonus. It will add up to approximately $428 million. Source: Company Website Jul 21, 2020: Walmart to spend $428 million on new round of worker bonuses, retailer will close on Thanksgiving Walmart said Tuesday that it will give another round of bonuses to hourly employees and close its stores on Thanksgiving Day. The big-box retailer said in a news release that it will spend about $428 million on the bonuses to thank employees for working during the coronavirus pandemic. Full-time hourly employees will receive $300 and part-time and temporary workers will get $150. The company will pay the bonuses on Aug. 20. Walmart is the largest grocer and private sector employer in the country. So far, it's hired more than 400,000 employees during the pandemic to help stock shelves, clean stores and keep up with online orders, according to a company spokesperson. As Americans stay at home, they've turned to the big-box retailer for groceries, toilet paper and a wide range of items, from bikes to hair color. Walmart's sales have shot up. Same-store sales jumped by 10% and e-commerce sales in the U.S. rose by 74% in the first quarter, ended April 30. Customers have been spending more when they shop, too. The company's average ticket increased by 16% during the first quarter, Chief Financial Officer Brett Biggs said. Walmart shares were recently trading up about 1%. The stock, which has a market value of nearly $377 billion, has risen 12% year to date. Last week, it hit a 52-week high of $134.13. During the pandemic, employees have had to work to keep up with that strong demand and have put their health at risk. Some Walmart employees have gotten sick and died from Covid-19. A family of a longtime employee in Illinois filed a wrongful death lawsuit in April. Walmart has adopted a growing number of safety measures over the course of the pandemic, including providing masks and taking employees' temperatures. This week, it began requiring all customers to wear masks or face coverings. The retailer has given two other special bonuses to employees. All of the bonuses have totaled $1.1 billion. Walmart earned $14.88 billion on sales of $524 billion last year. In the announcement Tuesday, Walmart said its stores - and its warehouse brand Sam's Club - will be closed on Thanksgiving Day to show appreciation for workers, too. "We know this has been a trying year, and our associates have stepped up. We hope they will enjoy a special Thanksgiving Day at home with their loved ones," said John Furner, president and CEO of Walmart U.S., said in a news release. "We are certainly thankful to our people for all of their efforts." Source: CNBC Jul 15, 2020: Walmart, Kroger will require customers to wear masks at their stores Walmart, the nation's largest retailer, and Kroger, the largest U.S. supermarket chain, will require customers to wear a mask or face covering to shop in their stores. The giant retailers separately announced the new policies on Wednesday as Covid-19 cases and hospitalizations rise in the many states and raise the risk of more government-mandated shutdowns. The companies join a growing list of retailers that require masks, including Best Buy, Costco and Apple. The Centers for Disease Control and Prevention and other federal agencies recommend wearing face coverings as a way to prevent the spread of the coronavirus, especially when physical distancing isn't possible. Face coverings can also limit the spread by people who don't have symptoms, yet can spread the virus to other people. Many retailers, including Walmart and Kroger, have dealt with a patchwork approach of state and local rules about face coverings. Without a national mandate, their employees have often had to police mask use in their stores. Walmart U.S. Chief Operating Officer Dacona Smith and Sam's Club Chief Operating Officer Lance de la Rosa said in a post on the company's website that the majority of its more than 5,000 stores and clubs - about 65% - are in areas where there's already some kind of government requirement for face coverings. They said the new requirement at Walmart and Sam's Club stores, which takes effect July 20, will keep customers and employees safe and "help bring consistency across stores and clubs" across its national footprint. "While we're certainly not the first business to require face coverings, we know this is a simple step everyone can take for their safety and the safety of others in our facilities," they said in the post. Kroger owns nearly 2,800 stores across 35 states and Washington, D.C. under its own name and other banners, such as Fred Meyer and Fry's. The company said it will require customers to wear masks or face coverings starting July 22. "We are taking this extra step now because we recognize additional precautions are needed to protect our country," company spokeswoman Kristal Howard said. For some employees, enforcing mask requirements - whether a government mandate or a company policy - has been a challenge. In some cases, it has led to confrontations between employees and customers and viral social media videos. Best Buy began requiring masks on Wednesday. The big-box retailer originally encouraged, but did not require them. The company's CEO, Corie Barry, said in May that the company has provided training on how to de-escalate tense situations as employees have served customers who are "scared, frustrated and occasionally hostile." "It can range from customers being frustrated that they can't just walk into a store and get what they need to customers potentially not wanting to wear masks," she said on a call with reporters at the time. In the website post, Smith and de la Rosa said Walmart will post signs, train employees and create a new role to enforce the policy. The designated employees, called health ambassadors, will get special training and will stand near the door. That person will remind customers about the mask requirement when they walk inside. All stores will use a single entrance. Health ambassadors will be identified with a black polo shirt, they said. He or she "will work with those who show up at a store without a face covering to find a solution that works for everyone," according to the post. At Sam's Club locations, an employee will also stand by the door and remind customers about the requirement. Complimentary masks will be provided, or masks will be available for purchase. Source: CNBC Jul 13, 2020: Walmart could be the 'next tech stock' with Amazon competitor set to launch, says Morgan Stanley Big box retailer Walmart is in the running to be the "next tech stock," according to Morgan Stanley. The Wall Street firm, which has an overweight rating on Walmart, said the stock can continue to rally thanks to Walmart+, the company's e-commerce business slated to compete with Amazon Prime. Source: CNBC Jul 08, 2020: Walmart quietly registers insurance business in its latest move into health care Walmart is making yet another move in the health-care world: It's getting into the insurance business. The Bentonville, Arkansas-based retailer confirmed to CNBC on Wednesday that it will start selling health insurance plans. It has job openings listed on its careers website for "Walmart Insurance Services LLC." In the job posts, it says it's looking to hire insurance agents in the Dallas area to sell supplemental Medicare insurance. "We need passionate health insurance professionals to help us build this new business from the ground up and achieve our mission," the job post said. The news was previously reported by Med City News and Talk Business & Politics. The business filed with the Arkansas secretary of state in late June, according to the Med City News report. Walmart spokesman Randy Hargrove confirmed the creation of the insurance agency in a statement, but did not share details about the plans it will sell or their pricing. "We're always looking for ways to help our customers save money and live better, and insurance services is one another way we do that," he said. He said Walmart currently provides insurance information at Walmart Health, its primary clinic locations, and has an education program called Healthcare Begins Here that helps people find an insurance policy. "We're expanding our current insurance services to now include the sale of insurance policies to our customers," he said. The big-box retailer has opened primary-care clinics, made health-care acquisitions and spoken about its broader ambitions. It previously teamed up with insurer Humana to offer a Walmart-branded Medicare prescription drug plan, but this marks the retailer's first foray into managing health insurance itself. Last month, Walmart reached a deal to acquire technology from CareZone, a start-up that helps people manage multiple medications. The retailer has opened four Walmart Health clinics in the U.S., with plans for more. The clinics offer a wide range of low-cost services, such as an annual checkup for $30 or a strep test for $20. Source: CNBC Jul 07, 2020: Walmart's stock rises 7% on report of Amazon Prime competitor coming this month Walmart's answer to Amazon Prime will launch this month, according to a report by Vox's Recode. The big-box giant confirmed in February that it plans to roll out a subscription-based service called Walmart+, but it hasn't revealed details or its strategy to attract members and stand out from competitors. Shares rose by nearly 7% Tuesday to close at $126.95. The membership program will cost $98 per year and include same-day delivery of groceries, fuel discounts at Walmart gas stations and other perks, according to the Recode report. The report cites multiple unnamed sources. Walmart planned to launch Walmart+ in late March or April but delayed it because of the coronavirus pandemic, according to Recode. Walmart declined to comment about when the service will launch. Since Amazon launched the Prime program about 15 years ago, it's grown to more than 150 million members. Amazon has used the subscription-based service to entice customers to shop more frequently on its site. For $119 each year, customers get fast and free shipping, access to Amazon's streaming service and discounts at Amazon-owned grocery store Whole Foods. Walmart has significantly grown its e-commerce business, but it's lagged behind Amazon in market share and market cap. Amazon is valued at about $1.5 trillion, compared with Walmart, which is valued at about $360 billion as of late Tuesday. Walmart reported online sales growth of 37% for last year, topping its own goal of 35% growth. Its online sales surged by 74% in the fiscal first quarter that ended April 30, as the coronavirus pandemic drove more customers online for groceries and other essentials. The retailer has leaned on its grocery business to grow online. Walmart delivers to the home, but it also offers curbside service at its brick-and-mortar locations as a convenient option for customers. This spring, Walmart launched Express Delivery at many of its stores. The new service, which has a $10 fee, delivers purchases to customers' doors in less than two hours. Source: CNBC Jun 22, 2020: Walmart UBS upgraded the retail giant's stock to "buy" from "neutral," citing greater productivity, fast growth in e-commerce, and its acceleration of technology deployment. Source: CNBC Jun 22, 2020: UBS upgrades Walmart, saying it won new e-commerce customers during the pandemic UBS upgraded Walmart on Monday, saying the company won new customers during the pandemic and established itself as the second major e-commerce player behind Amazon. "It's improved execution & successfully changed the narrative of its story from that of a mature brick & mortar retailer to being a viable #2 in eComm," said the note. Source: CNBC Jun 19, 2020: Walmart: Supporting COVID-19 Drive-Thru Testing Walmart is part of communities all across America, and we believe we can play a vital role by helping our neighbors in a time of crisis. We know how important expanded testing is to getting America back on its feet, and we are committed to supporting efforts to expand COVID-19 drive-thru testing. Since the public-private partnership was announced on March 13, 2020, we have been working closely with lab partners, HHS, and state and local officials to select testing sites in areas of need. We learned from our initial sites to get the model right and are expanding testing in areas of need. On May 15, 2020, we exceeded our goal of opening 100 sites by the end of May, thanks to our dedicated associates. We are working hard to continue to scale and provide testing to as many communities as possible. Source: Company Website Jun 16, 2020: Walmart The retailer bought technology and intellectual property from CareZone, a developer of apps that help consumers manage their medications. Financial details were not disclosed, but a person familiar with the deal told CNBC that Walmart paid about $200 million. Source: CNBC Jun 15, 2020: Jim Cramer on Walmart, Shopify partnership CNBC's Jim Cramer gives his take on the latest e-commerce news, including Walmart's new partnership with Shopify which will allow Shopify's third-party sellers to list their products on Walmart's website. Source: CNBC Jun 11, 2020: Walmart Walmart will stop keeping beauty products aimed at people of color in locked display cases. The practice had drawn complaints saying it suggested that customers of those products cannot be trusted. Source: CNBC Jun 10, 2020: Walmart: Retail expert Jan Kniffen on sector winners and losers during Covid-19 Amazon, Walmart, Target and Costco are some of the companies doing well amid the pandemic. Jan Kniffen, CEO of J Rogers Kniffen, joins "Squawk Box" to discuss the state of the retail sector and which other companies can be added to the list of winners. Source: CNBC Jun 05, 2020: Walmart CEO Doug McMillon: Charitable giving is 'not enough' to fix systemic inequality Walmart CEO Doug McMillon said charitable giving is "not enough" when companies see urgent societal problems, such as an unequal criminal justice system and the police-involved death of George Floyd. Source: CNBC May 28, 2020: Walmart says its thousands of tech employees will continue remote work - even when pandemic subsides Even after the coronavirus pandemic, Walmart plans to have thousands of its tech employees still working from home. In an internal memo sent Thursday afternoon, Walmart's global chief technology officer, Suresh Kumar, told the tech team that the company is rethinking how it uses its offices and brainstorming ways to make it easier for them to work remotely. "We believe the way of working in the future, particularly in tech, will be fundamentally different than it was before," he wrote in the email. "We believe it will be one in which working virtually will be the new normal, at least for most of the work we lead." Instead of having employees come to the office each day, he said office space "will be used primarily for collaboration, to sync up and strengthen camaraderie." "We'll be together, at times, and for a purpose," he said in the memo. During the pandemic, employees across the U.S. have set up home offices, worked from kitchen tables and held meetings by video call. The shift to work from home has inspired some companies to reconsider how they use their office spaces - and if they're worth the pricey rents, high utility bills or hassle of retrofitting to allow social distancing. Walmart is the latest company to announce that tech workers don't have to return to the office anytime soon - or potentially, ever. Twitter told employees earlier this month that they can continue to work from home "forever," if they're in a role and situation that allows it. Facebook CEO Mark Zuckerberg said the company will "aggressively" ramp up its hiring of remote workers and predicted that 50% of its employees could be working remotely within the next five to 10 years. In the memo, Kumar said Walmart's tech team has "thrived" during the pandemic and that's influenced plans for the future. "We are more focused on the things that have the greatest impact for our customers, associates and the business," he said. "We are making quicker decisions and acting. Meetings are now more inclusive of people regardless of location, level or other differences. We have great momentum and need to figure out how to carry it forward. Walmart competes for tech talent with Silicon Valley companies. The retailer has about has about 10,000 tech employees in the U.S., including software engineers, data scientists and machine learning engineers. Many are based in Sunnyvale, California, but others are outside Silicon Valley at the company's headquarters in Bentonville, Arkansas, or at the former Jet.com headquarters in Hoboken, New Jersey. The tech team is just a small part of Walmart's huge workforce. The company is the largest private sector employer in the U.S. with about 1.5 million employees. The vast majority of them work in roles that can't be done remotely, such as checking out customers in stores, restocking shelves or packing up online purchases. And many of these employees have been on-site throughout the pandemic, even as Covid-19 cases and deaths were rising, to sell essential goods like food and cleaning supplies. Source: CNBC May 27, 2020: Walmart strikes deal with secondhand apparel site to ramp up online fashion sales Walmart is getting into the fashion resale market with ThredUp, an e-commerce company that buys and sells secondhand clothes, shoes and accessories. Starting Wednesday, customers can browse thousands of pre-owned items for women and children on the big-box retailer's website. They can get free shipping from Walmart so long as they spend $35 or more. And if purchases don't work out, they can return the items at a nearby store. Walmart is expanding its online fashion assortment at a time when it could grab more market share in apparel and accessories. The coronavirus pandemic has exacerbated challenges for clothing retailers. Stores have been shuttered for months, and some are now reopening with only curbside pickup or limited foot traffic. Major names, including J.Crew, Neiman Marcus and J.C. Penney, have filed for bankruptcy protection. Others like Nordstrom have said they'll permanently close some of their stores. Walmart dominates the grocery business, but still lags in fashion despite its efforts. It has acquired plus-sized women's apparel company Eloquii and menswear company Bonobos, developed exclusive apparel lines with Ellen DeGeneres and Sofia Vergara and revived Scoop, a trendy brand that used to have stores in New York City. Denise Incandela, head of fashion for Walmart's e-commerce business in the U.S., said the retailer has been talking to ThredUp for about a year. With the pandemic though, she said buying fashionable, yet budget-conscious items may have even more relevance. "Everything that we do has been focused on making Walmart a destination for fashion," she said. "We are absolutely seeing this as an opportunity to support a bigger portion of our customers' closets." She declined to provide financial terms of the deal, but said it's similar to arrangements with third-party vendors on Walmart Marketplace. Its website already sells some pre-owned designer watches and handbags. During the pandemic, Walmart has seen a surge of shoppers turning to its stores, website and app to buy groceries, cleaning products, hair color and more to help them during long stays at home. Even before the crisis, however, Walmart has looked for ways to nudge customers' toward general merchandise on its website. By selling more higher-margin items like clothing, Walmart can help drive up profitability of its e-commerce business, which has not yet turned a profit. For the big-box retailer, the deal with ThredUp is a way to expand its online fashion offerings and get in on the sustainability trend. ThredUp bills itself as the largest online thrift store. Customers can send in clothes, shoes, handbags and more, so long as they're in good condition. If they pass a quality inspection and sell, he or she gets a portion of the profits. The San Francisco-based resale company has over 45,000 brands, ranging from designer names like Marc Jacobs to fast fashion like Forever 21. ThredUp has struck deals with a growing number of retailers, including Gap, Macy's, J.C. Penney and J.Crew-owned Madewell. Many of its partnerships with retailers have had a brick-and-mortar rather than e-commerce focus. For Walmart shoppers, the lower-priced brand name goods may resonate at a time when millions of Americans are unemployed, furloughed or coping with pay cuts. ThredUp CEO and co-founder James Reinhart said sales have remained strong on the company's website during the pandemic, though tops now outsell bottoms and customers have favored leisurewear. He said by partnering with ThredUp, retailers can "delight their customer in a new way" and acknowledge customers' interest in sustainability. He said the company will bring more choices and elevated fashion brands to Walmart's website. Items will be dual-listed on Walmart's website and the company's own, he said. For ThredUp, he said, it'll put its accessories and clothing in front of a larger audience. "We're a small fish compared to Walmart and so the ability to tell our story to a Walmart audience is really powerful," he said. Source: CNBC May 27, 2020: Walmart: Stocks making the biggest moves in the premarket: Tractor Supply, Disney, Boeing, Tesla & more Walmart (WMT) - Walmart struck a deal with second-hand apparel seller ThredUp, allowing customers to browse ThredUp offerings on its website and get free shipping if they spend $35 or more. Source: CNBC May 20, 2020: Walmart: Cramer says 'government was a bad actor,' allowing big retailers to get even bigger in coronavirus crisis CNBC's Jim Cramer said Wednesday that governments forcing some retailers to close and others to stay open was "somewhat rigged" and has permanently damaged smaller businesses. "If you were Walmart, the thing you would most want to do is have the government shut down your competition, and that happened," Cramer said on "Squawk Box." Source: CNBC May 20, 2020: Walmart U.S. Q1 comp sales1 grew 10.0% and Walmart U.S. eCommerce sales grew 74% The company's net sales and operating results were significantly affected by the outbreak of COVID-19. Unprecedented demand for products across multiple categories led to strong top-line results. Certain incremental costs negatively affected operating income, including costs associated with enhanced wages and benefits as well as safety and sanitation. Source: SEC May 20, 2020: Walmart: Cramer: Pandemic may lead to consumer loyalty with big retailers CNBC's Jim Cramer, Carl Quintanilla and David Faber discuss the latest earnings out of the retail sector as well as Walmart CEO Doug McMillon's interview with CNBC. Source: CNBC May 19, 2020: Walmart: Stocks making the biggest moves midday: Kohl's, Moderna, Peloton, Carvana and more Walmart - Shares of Walmart gained about 1% but ended the day down 2.1% after the big-box retailer reported a surge in sales in the first quarter. Walmart's e-commerce sales in the U.S. soared 74% last quarter, while its same-store sales grew by 10% during the same period, as people stocked up on groceries and essentials during the coronavirus pandemic. The company withdrew its financial outlook for the year, however, as the health crisis created "unprecedented variability." Source: CNBC May 19, 2020: Stocks making the biggest moves in the premarket: Walmart, Home Depot, Kohl's, Moderna & more Walmart (WMT) - The retail giant reported quarterly profit of $1.18 per share, 6 cents a share above estimates. Revenue came in above forecasts as well. Same-store sales were up 10%, compared to a consensus estimate of 7.2%. Walmart withdrew its 2020 guidance due to virus-related uncertainty and also announced it would discontinue the jet.com brand. Source: CNBC May 15, 2020: Walmart: This is the critical link to successfully reopening the US economy The successful relaunch of the U.S. economy after the coronavirus shutdown will depend on how effectively companies treat the ills of the global supply chain. The pandemic exposed the weak links in a distribution system that was normally hidden from public scrutiny. Instead, the disruption of the global supply chain made headlines: the lack of masks and ventilators for health-care workers and patients, the shutdown of meat-processing plants in the Midwest as the virus ravaged the workforce, the shortages of toilet paper and hand gel caused by consumer hoarding. The impact of the disruption runs deep. An April survey by the Institute of Supply Management reported that 95% of U.S. companies expected their supply chains to be disrupted by the coronavirus and that almost half expected to reduce their revenue targets by an average of 22%. Source: CNBC May 13, 2020: Walmart: The Why and How Behind Walmart Express Delivery By Janey Whiteside, Chief Customer Officer, Walmart, and Suresh Kumar, Global Technology Officer and Chief Development Officer, Walmart Walmart recently debuted Express delivery, a new service to deliver goods to our customers in under two hours. Here's why we chose to roll this service out now and how our own internally developed technology helped make it happen quickly when America needed it. The Why The coronavirus pandemic has upended life as we knew it and has also changed how our customers shop, with many American families sheltering in place and relying heavily on online deliveries. Customers all over the world are testing the limits of no-contact shopping from curbside pickup to delivery options - not just for convenience, but for their own health. Our mission to save our customers time and money in order to allow them to live better rings true now more than ever. Express delivery is one of Walmart's no-contact pickup and delivery options to allow customers to get the items they need without coming into the store. Express delivery eligible items from Walmart, including groceries, electronics, toys and other essential items are available to customers for a surplus $10 over Walmart's typical delivery fees of $7.95 or $9.95, depending on the time of day. We can get the item from our door to yours within two hours. Whether it's "oh no, my child has a fever!" or "oh no, I forgot the birthday candles!" time matters. Thanks to our 74,000 personal shoppers who collect the customers' orders and deliver them to their doorsteps in time. Source: Company Website May 12, 2020: Walmart: Uber makes takeover offer for GrubHub, but both sides remain at odds on price Uber has made an offer to buy food delivery company Grubhub, according to people familiar with the matter. The two companies have had discussions about an all-stock deal that would offer Grubhub shareholders 2.15 Uber shares for each Grubhub share, one of the people said. The people requested anonymity because the information is confidential. However, both sides have yet to agree on a deal, and CNBC's David Faber reported Tuesday that Uber has rejected the proposal to buy Grubhub for 2.15 Uber shares per share of Grubhub. The two sides have been in acquisition talks off and on for about a year, Faber reported. The two sides remain at odds on price. Grubhub had a market cap of about $5.8 billion Tuesday afternoon, after news of a potential deal sent Grubhub's stock skyrocketing up as much as 38%, before ending the day up 29%. Uber's stock was up nearly 4% on Tuesday afternoon, bringing its market cap to about $56.8 billion. It ended the day up 2.4%. Source: CNBC Apr 29, 2020: Walmart: Hasbro expects virus to hit second-quarter earnings but will be prepared for holiday season Hasbro said Wednesday it expects its second quarter to take a hit from the coronavirus pandemic, but it expects to be ready for the holiday season. The comments come as the toymaker reported its first-quarter earnings, telling investors that it has a solid financial footing and is cutting costs as it prepares to meet the seasonal demand that comes in the second half of the year. The coronavirus pandemic has led to store closures due to country-wide restrictions on social interactions as well as global production shutdowns. It's also created uncertainty, which prompted Hasbro to withdraw its fiscal 2020 financial outlook. That said, Hasbro has benefited from an increased demand for family games, which spiked during the quarter and into April. ″People want to make social connections and we're seeing it across the board," Brian Goldner, Hasbro's chairman and chief executive officer, said on CNBC's "Squawk Box" Wednesday. In the quarter ended March 29, the company swung to a net loss of $69.6 million, or 51 cents a share, from net income of $26.7 million, or 21 cents a share, in the year-ago period. Excluding non-recurring items, such as eOne acquisition-related expenses, adjusted earnings per share came to 57 cents, below the consensus of 58 cents, according to data from Refinitiv. Revenue rose to $1.11 billion from $732.5 million but came up shy of the Refinitiv consensus of $1.14 billion. Goldner said that sales across every category, including preschool, kids, adults and family games, saw growth during the quarter. Hasbro's gaming category, including Magic: The Gathering, Monopoly and Hasbro Gaming, grew 40%. E-commerce increased double digits in the first quarter for the company and Walmart, Target and Amazon were Hasbro's largest customers during the period. Source: CNBC Apr 29, 2020: Walmart: Livestreaming is taking off in China, but it's not driving much sales in a market still reeling from coronavirus BEIJING - As businesses try to boost sales to during the coronavirus slump, one of the hottest trends in marketing has created plenty of buzz - but it has yet to prove its worth on a macro level. In the months since Covid-19 prompted millions of people in China to stay at home, plenty of people - from celebrities to government officials and automakers - have jumped on the livestreaming bandwagon that was already taking off. They are now selling directly to consumers via what can be hours of live video. In fact, the number of e-commerce livestreaming sessions topped 4 million in the first quarter, according to China's Commerce Ministry. More than 100 government officials participated to promote local products, the ministry said. Source: CNBC Apr 28, 2020: Walmart: Trump says US will be able to run 5 million coronavirus tests per day 'very soon,' despite shortages across states President Donald Trump said Tuesday the U.S. will "very soon" run 5 million coronavirus tests per day, even as the lack of testing remains an obstacle for many states anxious to reopen for business. "We'll increase it, and it'll increase it by much more than that in the very near future," Trump said when a reporter asked if he's confident the U.S. will reach 5 million tests per day, as some health experts say would be required to "reopen" the country. Speaking to the press the following day, Trump denied ever having said there would be 5 million tests per day, but he added that he does believe there will, in fact, be five million tests per day. "Somebody came out with a study of 5 million people. Do I think we will? I think we will, but I never said it," Trump claimed during an event at the White House on Wednesday. "Somebody started throwing around 5 million. I didn't say 5 million," the president insisted, adding, "Well, we will be there. But I didn't say it. I didn't say it." The U.S. is currently nowhere near conducting 5 million tests a day, and there is skepticism within the Trump administration itself about whether the country could hit that goal. Adm. Brett Giroir, who is running the administration's testing response, told Time magazine in an interview Tuesday morning, before Trump's remarks, that "there is absolutely no way on Earth, on this planet or any other planet, that we can do 20 million tests a day, or even 5 million tests a day." The most tests the nation has run on a single day was 314,182 on April 22, according to data compiled by the Covid Tracking Project. The U.S. has run just 5.7 million total Covid-19 tests since the beginning of the pandemic, according to the volunteer project designed to track testing data launched last month by The Atlantic. That puts the nation woefully behind where its testing capacity needs to be. At the average rate of around 157,000 tests run a day in April, according to the project, it would take almost 6 years to test everyone in the U.S. - just once. Health-care workers and other first responders need to be tested often. New York state is requiring private companies that want to bring their employees back to work to test them frequently. Source: CNBC Apr 27, 2020: Walmart: CVS Health, Walgreens and other retailers say they're focused on expanding coronavirus testing as states, businesses aim to loosen lockdowns As some states start to reopen businesses and lift lockdowns, the need for coronavirus testing has become a focal point, and retailers are touting renewed efforts to speed that along. Leaders of CVS Health, Walgreens, Walmart, Rite Aid, Kroger and other companies joined President Donald Trump late Monday at the White House to announce the next phase of testing. They spoke at the podium in the Rose Garden about their plans to add new sites and increase access, especially in underserved communities and among employers trying to get back to work. The companies laid out their plans, but some cautioned their timing and ability to ramp up will depend on having adequate supplies and lab capacity. Some state governors have expressed frustration about not having enough swabs, reagents or lab capacity for tests, saying that's made it harder to track the coronavirus' spread and make decisions about lifting stay-at-home orders. In the U.S., there have been more than 972,900 confirmed cases of Covid-19 and at least 55,118 people have died, according to data compiled by Johns Hopkins University. With their roots in health care, CVS and Walgreens have been two of the most active in getting sites up and running. CVS said Monday that it plans to have nearly 1,000 locations across the country by the end of May and process up to 1.5 million tests per month. Walgreens said it expects to open five more drive-thru testing locations in four more states this week and eventually open sites in 49 U.S. states and Puerto Rico. Walmart said it will have 45 sites by the end of next week and 100 sites by the end of May. Kroger said it will expand its drive-thrus to have 50 locations in more than 12 states by the end of May. Source: CNBC Apr 21, 2020: Analysts see stocks like Amazon and Walmart continuing to benefit from the coronavirus pandemic The coronavirus continues to cause economic unrest, but Wall Street analysts said on Tuesday that there are several companies poised to take advantage. Calls of the day include Amazon, Walmart, Lyft and more. Here are the biggest calls on Wall Street on Tuesday: Source: CNBC Apr 20, 2020: Walmart: Here are some stock picks for a post-coronavirus world, according to Stifel Uncertainty reigns about the depth or duration of the pandemic, but Stifel is predicting what the world will look like after COVID-19. The Wall Street firm said the coronavirus pandemic will permanently change human behavior, societal function, and the structure of industry. Alongside those changes, certain stocks will thrive. "The measures being taken to mitigate the crisis could become catalysts for more permanent change," Stifel wrote in a note to clients. Source: CNBC Apr 20, 2020: Walmart; Former Saks CEO on the long-term impact of coronavirus on the retail industry A number of retailers are taking drastic steps after being hit hard by the coronavirus. Neiman Marcus missed a bond payment and, according to Reuters, is preparing to seek bankruptcy protection. Additionally, Nordstrom suspended merchandise orders and Macy's is exploring options to shore up its finances. Steve Sadove, former chairman of Saks Inc. and CEO and now a senior advisor for Mastercard, to discuss what retailers can do to survive the crisis. Source: CNBC Apr 17, 2020: Walmart: Coronavirus updates: Visitors flock to Jacksonville beaches after they reopen for exercise and activity The coverage on this live blog has ended - but for up-to-the-minute coverage on the coronavirus, visit the live blog from CNBC's Asia-Pacific team. Global cases: More than 2,214,800 Global deaths: At least 150,948 US cases: More than 683,700 US deaths: At least 34,575 The data above was compiled by Johns Hopkins University. 9:19 pm: Walmart requires staff to wear masks Starting Monday, Walmart is requiring employees to wear masks in stores, clubs, distribution and fulfillment centers, as well as in our corporate offices. The company said it will also ask customers to wear face coverings when shopping. It's also announcing that it is extending its emergency leave policy through the end of May. "We have evolved our policy on face coverings from optional to mandatory as public health guidance has shifted," the company said in a statement. "The CDC now recommends wearing face coverings in public settings, including grocery stores, to help curb the spread of the virus." -Jennifer Elias 8:30 pm: Nearly 90% of the US Navy hospital ship in New York is empty Source: CNBC Apr 17, 2020: Walmart: Pandemic has companies dropping earnings guidance, and some say it should be nixed altogether The number of companies withdrawing or declining to provide earnings guidance continues to grow, with Abbott, ConocoPhillips, Jack in the Box, GoPro, and Bed Bath & Beyond in just the last couple days. JPMorgan, in a note to clients, said that so far 86 S&P 500 companies have suspended earnings guidance. Not surprisingly, some in the corporate world are seizing on this canceled guidance to renew calls to kill the practice altogether. "It's a step in the right direction that such a large number of companies have opted to suspend guidance, regardless of the circumstances that caused them to arrive at that decision," Sarah Keohane Williamson, CEO of FCLT Global, said in an editorial this week in Investor Relations magazine. Two years ago Jamie Dimon and Warren Buffett called for companies to stop providing quarterly earnings guidance, arguing that it promoted short-term thinking. Citing a 2015 Harvard study, Williamson said companies that emphasize quarterly earnings guidance get "the investors they deserve. Focusing on short-term metrics attracts transient, short-term shareholders, ultimately increasing share price volatility. It is linked to lower earnings growth, a higher cost of capital and a lower return on equity when compared with peers that issue guidance with a long-term orientation." Williamson also said investors don't want this type of guidance: "In repeated surveys of the buy side, earnings guidance given for periods of less than one year was consistently deemed irrelevant in evaluating a company's future prospects," she wrote. Sounds like a bit of a rant, but FCLT Global has clout. It's a not-for-profit organization founded to encourage a longer-term focus in business and investment decision-making. Its members include BlackRock, Bridgewater Associates, Carlyle Group, Fidelity Investments, HSBC, Nasdaq, Cisco and Walmart. This is not a new issue. Two years ago, JPMorgan's Dimon, then chairman of the Business Roundtable, said the group of CEOs had endorsed backing away from providing quarterly guidance. In June 2018, Dimon appeared on CNBC's "Squawk Box" with Buffett, who also endorsed ending the practice. Quarterly guidance, Dimon told CNBC's Becky Quick, can often put a company in a position where management from the CEO down feels obligated to deliver earnings and therefore may do things that they wouldn't otherwise have done." Source: CNBC Apr 13, 2020: Walmart executive picked as eBay's new CEO Online retailer eBay has tapped a Walmart executive as its new chief executive. Jamie Iannone, Walmart's chief operating officer for U.S. e-commerce, will take the top job, eBay said Monday in a news release. He will step into the role on April 27. Iannone played a key role in Walmart's digital strategy and was one of the retailer's rising stars. He was credited with growing the membership and online sales of Sam's Club, the retailer's membership-based subsidiary. In late February, he was promoted to lead Walmart's e-commerce business in the U.S. With the new role, Iannone is returning to eBay. He spent nearly eight years at the company as a vice president, according to the news release. Iannone worked at Walmart-owned Sam's Club for about six years. He was previously CEO of SamsClub.com and executive vice president of membership and technology. Before joining Sam's Club, he was executive vice president of digital products at Barnes & Noble, where he helped oversee its Nook devices and digital book business. Sam's Club has served as a test ground for Walmart's digital initiatives. It launched a service called Scan & Go that allows shoppers to skip the line and check out through a smartphone app instead. It has another voice-enabled app, called "Ask Sam," that helps employees find an item or answer customers' questions more quickly. Iannone will succeed Devin Wenig, who left eBay in September. Wenig resigned from his role as eBay faced pressure from two activist investors, Elliott Management and Starboard Value. The hedge funds pushed the company to review its portfolio and consider selling off assets, including its ticket sales service, StubHub, and its classified ads business, to drive up the value of shares. Wenig explained his departure in a tweet, saying that he "was not on the same page as my new Board." About two months after his departure, eBay announced it was selling StubHub to Swiss ticket vendor Viagogo for about $4 billion. During the company's search for a new leader, eBay's chief financial officer, Scott Schenkel, served as its interim CEO. Thomas Tierney, chairman of eBay's board, said in a news release that Iannone was the "ideal CEO to lead eBay's next chapter of growth and success." "We have all been impressed by his strong track record of innovation, execution, operational excellence, and developing teams that drive results," he said. "Jamie has consistently delivered high growth during rapid periods of industry disruption, consumer change and technological advancement." Shares of eBay were up more than 2% on Monday afternoon. Source: CNBC Apr 09, 2020: Walmart hires 100,000 to meet surging demand, as toilet paper and sewing machines fly off the shelves Walmart said it's seen a surge in demand for hair color, beard trimmers and sewing machines as Americans stay at home during the coronavirus pandemic - and it's still working hard to keep up with a spike in toilet paper sales. The big-box retailer has hired more than 100,000 new workers over the past three weeks to help it keep shelves stocked and fulfill online orders during the COVID-19 pandemic, the company's executive vice president of corporate affairs, Dan Bartlett, told CNBC's Courtney Reagan. It announced on March 19 that it would look to fill 150,000 positions. "We'll easily hit the 150,000," he said. "We'll do an assessment to see if we need to do more." Bartlett said most of the jobs are temporary, but about 10% to 15% are permanent. He said many of Walmart's new employees have come from hard-hit industries and are using the jobs to stay afloat "until their traditional jobs come back online." Source: CNBC Apr 08, 2020: Walmart: This new normal 'matters for your life and your portfolio,' Jim Cramer says The United States could open for business sooner than initially projected, but investors should not expect business to instantly return to normal, CNBC's Jim Cramer said Wednesday. Stocks rallied after Dr. Anthony Fauci, a key health leader in the fight against coronavirus, noted the public could witness the "beginning of a turnaround" in the pandemic as soon as next week. Yet, the need for social distancing will dictate how the recovery occurs. "I know Dr. Fauci's not signaling an all clear. He's saying the lockdowns are working, which is why we need to keep up the social distancing," Cramer, the host of "Mad Money," said. "Even when the lockdown ends you've got to be prepared for a new world that looks very different from the old one and a lot more investable for the big guys and not for the little guys." The Dow Jones and S&P 500 both rallied about 3.4% during the session, gaining about 780 and 91 points, respectively, and the Nasdaq Composite rose 2.6%. While the idea of post-pandemic society enticed Wall Street investors, Cramer warned that contagion fears will linger and measures to combat the virus will remain in place, affecting how and what businesses can bounce back. "In fact, he says 'now's not the time to pull back at all, it's a time to intensify,'" Cramer said. "That's why, when we do open for business, the new normal won't be like the old normal and you must understand that because it matters for your life and your portfolio." Retail and the consumer tech industries are two arenas that will need to adapt to new habits, he said. Source: CNBC Apr 08, 2020: Citi sees a 15% rally ahead for Walmart stock: Retailer's 'time to shine' Walmart is acting as an excellent source of essential items during the coronavirus crisis, and will be rewarded with customer loyalty in the post-COVID-19 world, according to Citi. Source: CNBC Apr 08, 2020: Amazon, Walmart and the low-income grocery-shopping divide exposed by the coronavirus As more Americans are forced to stay at home and practice social distancing, the income and internet divide is becoming clear in new ways for those who rely on food-assistance programs. And their ranks are likely to skyrocket due to the sharp rise in unemployment during this coronavirus-led economic downturn. While many adults can access groceries and food-delivery services, food stamp recipients are limited in these options. Recipients of the Supplemental Nutrition Assistance Program, as well as advocates for low-income Americans, are questioning why most states still lack a critical internet-based service for food delivery when the U.S. Department of Agriculture, which oversees the SNAP program, has piloted an online program for years. SNAP is available to households that meet income requirements related to the U.S. federal poverty line (about $28,000 for a family of three) and have less than $2,250 in cash or a bank account. Shawna Hinson is one of at least 35 million Americans who receive SNAP benefits. As a disabled, severely immunocompromised leukemia survivor, Hinson tries to avoid direct contact with people to reduce her risk of exposure. She is also a single parent to three children diagnosed with autism spectrum disorder. When Hinson finished online grocery shopping from Hy-Vee, she went as far as the checkout page before realizing they do not accept food stamps as a method of payment. Only one grocery delivery service in her area accepts that form of payment online, but they require a $50 minimum purchase and have higher prices for essential groceries (USDA says SNAP benefits cannot be used to cover delivery fees specifically). "I've called Hy-Vee, and they said that if it was a matter of just a click of a button, that they would change it, but they don't make the rules," Hinson said. "They said that the reason why they can't do it that way is because EBT requires a pin, and credit and debit does not." The SNAP program, which once used paper-based coupons, has transitioned to an electronic benefits transfer (EBT) card. The pin is required for the SNAP online program, and third-party payments processors are able to complete transactions for retailers already up and running in the pilot. Source: CNBC Apr 08, 2020: Analysts see buying opportunities in stocks like Apple and Walmart as markets continue to rebound The markets continue to rebound and Wall Street analysts are still finding stocks with plenty of upside for investors. Wednesday's calls of the day include Walmart, Apple, Twitter, and more. Here are the biggest calls on Wall Street on Wednesday: Source: CNBC Apr 07, 2020: Walmart: Walgreens to open 15 drive-thru testing sites for the coronavirus across 7 states Walgreens said Tuesday that it plans to open 15 drive-thru testing locations for the coronavirus across seven states, starting later this week. The sites will be in Arizona, Florida, Illinois, Kentucky, Louisiana, Tennessee and Texas, the drugstore chain said in a news release. They will use Abbott Laboratories' rapid COVID-19 test. Walgreen's expansion of drive-thru testing marks the acceleration of an effort that the White House announced more than three weeks ago. President Donald Trump met with leaders of major U.S. retailers and health-care companies March 13 and announced in the Rose Garden that four companies - Walmart, Target, CVS Health and Walgreens - would host drive-thru testing in their parking lots. The U.S. has lagged behind other countries in the availability of coronavirus testing. Since then, only about a handful of sites have opened in the retailers' parking lots. Most are staffed by government health-care workers. Walmart has two drive-thrus and Walgreens has one drive-thru in the Chicago area, but they restrict tests to first responders. CVS has a drive-thru in Massachusetts and said Monday that it would open two new drive-thru locations: one in Atlanta and one near Providence, Rhode Island. These latest sites are not in CVS parking lots, but at larger locations that can support multiple lanes of cars. In interviews, Walmart and CVS executives have acknowledged challenges with the rollout, saying it's been difficult to get protective gear for workers and has taken time to coordinate with state and federal officials. Walgreens said in a news release that it chose the new sites with the Department of Health and Human Services based on anticipated hot spots for cases of COVID-19. It said it expects to test up to 3,000 people per day across the sites. Tests will be by appointment only. Walgreens pharmacists will oversee the testing, which will be outside of the stores. Members of the public who show COVID-19 symptoms will fill out an assessment on Walgreens' website or its app. If they qualify for the test, they will make an appointment for a drive-thru site. Testing is free for people who meet the Centers for Disease Control and Prevention's criteria. The rapid COVID-19 test, which the sites will use, delivers positive results in as little as five minutes and negative results within 13 minutes. Walgreens president Richard Ashworth said the pharmacy chain learned how to scale test sites after opening its first location in Massachusetts. "We're continuing to do everything we can, both with our own resources and also by partnering with others, to serve as an access point within the community for COVID-19 testing," he said. Source: CNBC Apr 07, 2020: Costco vs. Walmart: Trader says one could be a better big-box pick Costco and Walmart shares are higher for the year, bucking the sharp market sell-off, with Americans stockpiling as coronavirus lockdowns stretch on. Though both have broken out, Oppenheimer's head of technical analysis, Ari Wald, said one has the edge over the other here. "We like them both. We're bullish on both Costco and Walmart. Of the two, Costco is the standout," Wald said Monday on CNBC's "Trading Nation." "It's really based on our bullish view on U.S. large-cap growth but broadly the stock has been on our buy list since April of 2018, and although it has become near term overbought in our relative work as it has outperformed through the sell-off, we still like it." Costco is up 5% in 2020, while the S&P 500 has fallen more than 16%. "The reason [we like it] is that our focus here on the market is on long-term recovery. And we like that Costco has been able to outperform during market rallies in recent years as well. It's really one of the few stocks that is also in a consumer staples sector that's been able to do this. So, we like Costco. It's a triple A-rated outperform by our fundamental analysts, rates well in our trend work and top down tail winds based on our view on growth," said Wald. Nancy Tengler, chief investment officer of Laffer Tengler Investments, said Costco's fundamentals are strong, but grows concerned after its recent rally. "We're out of Costco based on valuation. We got out at the end of last year at kind of the levels we're at now. We'd owned it in 2017. Loved the story. Loved the fundamentals but the valuation got a little bit rich for us," Tengler said during the same segment. Costco's gains since late 2018 have pushed its valuation to 33 times forward earnings. Comparatively, the S&P 500 trades at 16 times. "We're still in Walmart. It's one of our largest holdings. Again we don't necessarily think that the near-term growth in sales is sustainable, but we love the e-commerce store in this particular name. It's just also gotten a little bit rich, and we've actually been trimming back our holdings," said Tengler. "I wouldn't be chasing them here. Great companies. Be patient." Source: CNBC Apr 03, 2020: Walmart US store sales up 20 percent in past eight weeks, reports Dow Jones CNBC's Courtney Reagan reports on Walmart sale numbers at the stores and online. Source: CNBC Apr 02, 2020: Walmart: Macy's is the first of what could be a retail and energy purge from the S&P 500 Macy's is being dropped from the S&P 500, and in a sign of how far the fortunes of retail have fallen, it is being banished all the way down to the small-cap S&P 600, skipping the mid-cap S&P 400. It will likely not be the last company to suffer such humiliation amid coronavirus-related shutdowns. Macy's will be dropped from the S&P 500 on Friday to be replaced by Carrier Global, which is being spun out of United Technologies after United merges with Raytheon. S&P's decision to kick Macy's out of the big-cap index is certainly understandable. Macy's has dropped from a market capitalization of roughly $6 billion in mid-February to $1.5 billion today. "Macy's has a market capitalization more representative of the small-cap market space," S&P Dow Jones Indices, which manages the S&P 500, said in a terse statement. The problem is, Macy's has plenty of company. Kohl's, Nordstrom, Gap and Hanesbrands all have market caps in the $2 billion range. So do plenty of energy companies, such as Apache, Devon, and Marathon Oil. Source: CNBC Apr 02, 2020: Walmart puts sale of majority stake in UK chain Asda on hold as coronavirus upends grocery industry Walmart has paused efforts to sell a majority stake in U.K. grocer Asda, so it can direct full attention to managing the business as the coronavirus pandemic creates massive spikes in demand for groceries, according to people familiar with the matter. The people requested anonymity because the negotiations are confidential. A spokesperson for Walmart declined to comment. Asda had attracted significant interest from private equity firms, which were eyeing the grocer at a valuation of as much as $9 billion, the people said. It could not be immediately determined when Walmart might resume the sale, but it is not in a rush, a person familiar with the matter told CNBC. Its focus now is on freeing its leadership team up to run the business. The pause in the sale process highlights the unprecedented landscape in which grocery stores are operating, with shoppers buying in bulk and putting pressure on supply chains as consumers shelter in place and avoid social contact in a bid to halt the spread of the coronavirus. In the U.S., major grocers have expedited their hiring processes to help deal with that demand. Walmart plans to hire 150,000 employees to keep up with demand. The retailer had hired nearly 50,000 employees as of late Monday, and it's been averaging about 5,000 new hires a day, said Dan Bartlett, Walmart's executive vice president of corporate affairs. The coronavirus pandemic has rattled businesses and populations worldwide. In the United Kingdom, there were more than 34,000 confirmed cases as of Thursday afternoon, according to Johns Hopkins University. U.K. Prime Minister Boris Johnson himself has tested positive for the virus. In hopes of containing the virus, Johnson announced nationwide lockdown measures last month, telling cafes, bars and restaurants to close. Walmart has been assessing its Asda business for years. Last year, Britain's competition regulator blocked its proposed sale of Asda to Sainsbury. The parties ultimately terminated the agreement. The attempted sale was one of several steps it took to reorient its international footprint, which also included selling a majority stake in Walmart Brazil and buying a majority stake in Indian e-commerce company Flipkart. Source: CNBC Mergers 2022 Jan 26, 2022: Hazel Announces Definitive Merger Agreements With Even and ONE To Build a Business That Empowers Consumers To Improve Their Financial Lives The fintech will operate under the ONE brand after the transactions close and will deliver products to help consumers get paid, spend, save, borrow and grow their money Company backed by Walmart and Ribbit Capital as strategic investors; Omer Ismail will lead the combined business as CEO NEW YORK, Jan. 26, 2022 - Hazel, the independent fintech launched in partnership with Walmart and leading investment firm Ribbit Capital, today announced that it has entered into definitive agreements to acquire fintech platforms Even and ONE, marking the startup's emergence from stealth mode. The transactions, which are expected to close in the first half of 2022 pending approvals, equip the combined business with immediate momentum in its strategy to deliver a single financial services app that empowers consumers to get paid, spend, save, borrow and grow their money. Millions of Americans today can't access credit, build savings or wealth and are left to manage their financial lives through multiple disconnected apps. Almost a quarter of U.S. adults are unbanked or underbanked, and roughly 80% of fintech users rely on multiple accounts to manage their finances. The combined business, which will operate under the brand name ONE, will provide users with an all-in-one financial services app to holistically manage their finances in one place. The company's products and services will be made available directly to consumers and through employers and merchants, including access to Walmart's 1.6 million U.S. associates and 100 million-plus weekly shoppers. Omer Ismail will lead the combined business as CEO of ONE. David Baga, CEO of Even, and Brian Hamilton, co-founder of ONE, will remain in key leadership positions. Upon closing of the transactions, the combined business will have more than 200 employees and be capitalized with more than $250 million in cash on the balance sheet to fund future growth. "Consumers everywhere are being left behind by the world of financial services," said Omer Ismail, incoming CEO of ONE. "Our vision is clear: build on Even and ONE's success to offer a product that offers consumers the best way to spend, the best way to access their wages and helps millions save and grow their money. I'm looking forward to partnering with two stellar leaders in Brian and David to improve the financial lives of tens of millions of consumers." The moves bring together two established platforms in Even, a financial benefits platform that enables employees to access their earned wages on-demand, budget and save, and ONE, a direct-to-consumer fintech that partners with Coastal Community Bank to seamlessly combine saving, spending and borrowing in one digital account. Together, the businesses will be integrated into a single app that will be available to consumers everywhere as ONE, along with: A growing world-class team: This combination brings together industry-leading teams from Even and ONE, with plans to expand ONE post-close by hiring best-in-class talent, including through potential M&A. The scale of Walmart: Over time, the ONE app will be integrated inside Walmart's physical and digital channels, offering solutions to its 1.6 million U.S. associates and 100 million-plus weekly shoppers. Broad availability and additional partnerships: As a standalone company and app, ONE will be available directly to consumers across the U.S., and through partnerships with other leading employers and merchants. "Walmart is constantly looking for new ways to deliver on our core mission of helping our customers save money and live better," said John Furner, president and CEO, Walmart U.S. and board member of the combined business. "Customers have made it clear that they want more from us in the financial services arena. Creating a simple, personalized app that allows users to manage their money in one place is the natural next step toward fulfilling that. We couldn't be more excited about what this will mean for Walmart customers, associates and consumers everywhere as we try to help empower millions to improve their financial lives." "Consumers are always seeking better services, and in financial services this means transparency, access and simplicity," said Micky Malka, managing partner, Ribbit Capital and board member of the combined business. "The combination of these world-class teams and products will give ONE a unique opportunity to bring a new level of service and access to millions of Americans." Source: Company Website Litigation 2021 Jul 16, 2021: Walmart loses EEOC disability lawsuit that alleged discrimination against a longtime employee with Down syndrome A Wisconsin federal court jury ruled that Walmart must pay more than $125 million in damages in a disability discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission, the federal agency announced Friday. That verdict was quickly reduced Thursday to a statutory maximum of $300,000 by the judge in the case, which involved the termination of Marlo Spaeth, a 16-year employee who has Down syndrome, from the Walmart Supercenter in Manitowoc, Wisconsin. But Walmart still may have to pay additional money for Spaeth's back pay, front pay, as well as for interest and litigation costs, an EEOC spokeswoman told CNBC. The judge will determine those amounts at a later date. The EEOC's complaint in Green Bay court alleged that Walmart in its firing of Spaeth violated the Americans with Disabilities Act, which prohibits discrimination based on a person's disability. In the lawsuit, the federal agency said the retailer changed Spaeth's longtime work schedule and refused to accommodate her requests for different hours, even though she faced challenges because of her disability. The complaint also said she struggled to keep up with the new hours, leading to disciplinary action for absenteeism. Ultimately, the company fired Spaeth, despite her having received positive performance reviews from managers. Source: CNBC Feb 08, 2021: Walmart Statement with Respect to the Lawsuit Filed Against the U.S. DOJ and DEA on Oct. 22, 2020 in the Eastern District of Texas We brought this lawsuit because Walmart and our pharmacists are torn between demands from DEA on one side and federal health agencies and state regulators on the other, and patients are caught in the middle. The court's decision is purely procedural, based on when the federal government can be sued, and does not resolve the public health concerns raised in our case. We will appeal the court's ruling to seek clarity on the roles and legal responsibilities of pharmacists and pharmacies in filling opioid prescriptions written by DEA approved doctors. Our pharmacists and patients deserve better than the current patchwork of inconsistent, conflicting and contradictory demands from federal and state regulators. Source: Company Website Meetings Apr 05, 2021: Walmart: Formal Business Meeting for Shareholders on June 2 to be Held Virtually Given the Ongoing COVID-19 Pandemic BENTONVILLE, Ark., March 30, 2021 - Walmart Inc. (NYSE: WMT) today announced that its Annual Shareholders' Meeting will be held on Wednesday, June 2, 2021. Due to the continuing COVID-19 pandemic, the meeting will be held in a virtual-only format and will begin at 10:30 a.m. CDT. While shareholders will be able to attend the meeting online through a live audio webcast, there will not be a physical location for the annual meeting. Source: Company Website Acquisitions Feb 20, 2021: Issa Brothers and TDR Capital Complete the Acquisition of Asda from Walmart LEEDS, UK, and BENTONVILLE, Ark., February 16, 2021 - Walmart Inc. ("Walmart"), Asda Group Limited ("Asda"), the Issa brothers and TDR Capital have today announced that the Issa brothers, founders and co-CEOs of EG Group, a global convenience and forecourts retailer, headquartered in Blackburn, UK, and investment funds managed by TDR Capital LLP, a leading UK-based private equity firm, have completed the acquisition of Asda, Walmart's wholly-owned UK business, for an enterprise value of Pound6.8 billion, on a debt-free and cash-free basis. Source: Company Website Feb 08, 2021: Walmart Connect Ramps Up On-Site Offerings with Upcoming Launch of Display Self-Serve Platform and Acquisition of Thunder Advertising Technology Last week was exciting for our media business, now named Walmart Connect. We know we have a big opportunity to serve clients in a way no one else can - as a closed-loop omnichannel media company. We're focused on expanding our offerings to create measurable value for our partners and customers alike in our stores, on our digital properties and across the internet. To do that, we have to offer an easy to use platform to enhance connections between brands and customers at scale. Source: Company Website 2020 Oct 05, 2020: THE ISSA BROTHERS AND TDR CAPITAL TO ACQUIRE ASDA FROM WALMART 2nd October 2020 - Walmart Inc. ("Walmart"), Asda Group Limited ("Asda"), the Issa brothers and TDR Capital announced that the Issa brothers, founders and co-CEOs of EG Group, a global convenience and forecourts retailer, headquartered in Blackburn, UK, and investment funds managed by TDR Capital LLP, a leading UK-based private equity firm, have together agreed to acquire Asda, Walmart's wholly-owned UK business, for an enterprise value of Pound6.8 billion, on a debt-free and cash-free basis. Source: SEC People In BusinessPIB-Dirbs 2020 Apr 17, 2020: Walmart CEO-walmart ecommerce u.s. Marc Lore sells Friday April 17, 2020 Walmart (NYSE:WMT) CEO-Walmart eCommerce U.S. and President-Walmart eCommerce U.S. Marc Lore sold 85,000 shares worth $US10,924,618 on April 15. The selling price was $US128.52. May 08, 2020: Walmart CEO-walmart ecommerce u.s. Marc Lore sells Friday May 08, 2020 Walmart (NYSE:WMT) CEO-Walmart eCommerce U.S. and President-Walmart eCommerce U.S. Marc Lore sold 85,000 shares worth USD10,459,301 on May 07. The shares hit a six-day low on the day. Sep 29, 2020: Walmart director S. Robson Walton sells Wednesday September 30, 2020 Walmart (NYSE:WMT) Director S. Robson Walton sold 752,085 shares worth $103,182,830 on September 29. The selling price was $137.20. The shares hit a six-day high on the day. 2021 Nov 29, 2021: Walmart CEO Doug McMillon sells Monday November 29, 2021 Walmart (NYSE:WMT) Chief Executive Officer, Director and President Doug McMillon sold 9,708 shares worth $1,424,892 on November 24. The selling price was $146.78. The shares hit a nine-day high on the day. Dec 28, 2021: Walmart director S. Robson Walton sells Tuesday December 28, 2021 Walmart (NYSE:WMT) Director S. Robson Walton sold 601,845 shares worth $84,508,547 on December 27. The selling price was $140.42. The shares hit a ten-day high on the day. 2022 Apr 29, 2022: Walmart CEO Doug McMillon sells shares worth $1.5 million Friday April 29, 2022 Walmart (NYSE:WMT) Chief Executive Officer, Director and President Doug McMillon sold 9,708 shares worth $1,499,052 on April 28. The selling price was $154.41. May 27, 2022: Walmart CEO Doug McMillon sells shares worth $1.2 million Friday May 27, 2022 Walmart (NYSE:WMT) Chief Executive Officer, Director and President Doug McMillon sold 9,708 shares worth $1,219,384 on May 26. The selling price was $125.61. The shares hit an eight-day high on the day. Jun 24, 2022: Walmart CEO Doug McMillon sells shares worth $1.2 million Friday June 24, 2022 Walmart (NYSE:WMT) Chief Executive Officer, Director and President Doug McMillon sold 9,708 shares worth $1,185,608 on June 23. The selling price was $122.13. The shares hit a 14-day high on the day. Aug 26, 2022: Walmart CEO Doug McMillon sells shares worth $1.3 million Friday August 26, 2022 Walmart (NYSE:WMT) Chief Executive Officer, Director and President Doug McMillon sold 9,708 shares worth $1,316,728 on August 25. The selling price was $135.63. Sep 23, 2022: Walmart CEO Doug McMillon sells shares worth $1.3 million Friday September 23, 2022 Walmart (NYSE:WMT) Chief Executive Officer, Director and President Doug McMillon sold 9,708 shares worth $1,301,309 on September 22. The selling price was $134.04. Oct 28, 2022: Walmart executive vice president John Furner sells shares worth $616,612 Friday October 28, 2022 Walmart (NYSE:WMT) Executive Vice President, President and CEO and Walmart U.S. John Furner sold 4,375 shares worth $616,612 on October 27. The selling price was $140.94. The shares hit a three-month high on the day. Dec 23, 2022: Walmart CEO Doug McMillon sells shares worth $1.4 million Friday December 23, 2022 Walmart (NYSE:WMT) Chief Executive Officer, Director and President Doug McMillon sold 9,708 shares worth $1,396,202 on December 22. The selling price was $143.82. 2023 Feb 24, 2023: Walmart director S. Robson Walton sells shares worth $122.9 million Friday February 24, 2023 Walmart (NYSE:WMT) Director S. Robson Walton sold 852,215 shares worth $122,938,787 on February 22. The selling price was $144.26. Mar 30, 2023: Walmart director S. Robson Walton sells shares worth $275.1 million Thursday March 30, 2023 Walmart (NYSE:WMT) Director S. Robson Walton sold 1,908,331 shares worth $275,080,424 on March 29. The selling price was $144.15. May 25, 2023: Walmart executive vice president Dan Bartlett sells shares worth $975,368 Thursday May 25, 2023 Walmart (NYSE:WMT) Executive Vice President Dan Bartlett sold 6,600 shares worth $975,368 on May 23. The selling price was $147.78. The shares hit a two-month low on the day. Jun 30, 2023: Walmart executive vice president John Furner sells shares worth $676,944 Friday June 30, 2023 Walmart (NYSE:WMT) Executive Vice President, President and CEO and Walmart U.S. John Furner sold 4,375 shares worth $676,944 on June 28. The selling price was $154.73. Jul 28, 2023: Walmart executive vice president John Furner sells shares worth $696,675 Friday July 28, 2023 Walmart (NYSE:WMT) Executive Vice President, President and CEO and Walmart U.S. John Furner sold 4,375 shares worth $696,675 on July 26. The selling price was $159.24. Aug 25, 2023: Walmart CEO Doug McMillon sells shares worth $1.5 million Friday August 25, 2023 Walmart (NYSE:WMT) Chief Executive Officer, Director and President Doug McMillon sold 9,708 shares worth $1,536,710 on August 24. The selling price was $158.29. The shares hit a six-day high on the day. Sep 29, 2023: Walmart CEO Doug McMillon sells shares worth $1.6 million Friday September 29, 2023 Walmart (NYSE:WMT) Chief Executive Officer, Director and President Doug McMillon sold 9,708 shares worth $1,576,621 on September 28. The selling price was $162.40. Oct 27, 2023: Walmart CEO Doug McMillon sells shares worth $1.6 million Friday October 27, 2023 Walmart (NYSE:WMT) Chief Executive Officer, Director and President Doug McMillon sold 9,708 shares worth $1,582,297 on October 26. The selling price was $162.99. Nov 29, 2023: Walmart director S. Robson Walton sells shares worth $54.4 million Wednesday November 29, 2023 Walmart (NYSE:WMT) Director S. Robson Walton sold 346,600 shares worth $54,386,443 on November 27. The selling price was $156.91. The shares hit a ten-day high on the day. Dec 29, 2023: Walmart executive vice president John Furner sells shares worth $683,856 Friday December 29, 2023 Walmart (NYSE:WMT) Executive Vice President, President and CEO and Walmart U.S. John Furner sold 4,375 shares worth $683,856 on December 27. The selling price was $156.31. The shares hit a one-month high on the day. 2024 Jan 26, 2024: Walmart executive vice president John Furner sells shares worth $712,688 Friday January 26, 2024 Walmart (NYSE:WMT) Executive Vice President, President and CEO and Walmart U.S. John Furner sold 4,375 shares worth $712,688 on January 24. The selling price was $162.90. The shares hit a 13-day low on the day. Feb 28, 2024: Walmart director S. Robson Walton sells shares worth $117,552 Wednesday February 28, 2024 Walmart (NYSE:WMT) Director S. Robson Walton sold 2,000 shares worth $117,552 on February 26. The selling price was $58.78. The shares hit a six-day high on the day. Mar 14, 2024: Walmart director S. Robson Walton sells shares worth $21 million Thursday March 14, 2024 Walmart (NYSE:WMT) Director S. Robson Walton sold 345,000 shares worth $21,020,505 on March 14. The selling price was $60.93. PIB-Dirobs 2020 Jun 05, 2020: Walmart director Steven S. Reinemund awarded shares Friday June 05, 2020 Walmart (NYSE:WMT) Director Steven S. Reinemund, was awarded 1,433 shares worth USD174,984 on June 04. Jul 02, 2020: Walmart director Steuart L. Walton awarded shares Thursday July 02, 2020 Walmart (NYSE:WMT) Independent Director Steuart L. Walton, was awarded 250 shares worth USD29,945 on June 30. Oct 02, 2020: Walmart director Sarah J. Friar awarded shares Friday October 02, 2020 Walmart (NYSE:WMT) Independent Director Sarah J. Friar, was awarded 214 shares worth $29,941 on September 30. 2022 Jan 11, 2022: Walmart chief technology officer Suresh Kumar awarded shares Tuesday January 11, 2022 Walmart (NYSE:WMT) Chief Development Officer and Chief Technology Officer Suresh Kumar, was awarded 13,804 shares worth $2 million on January 07. PIB-Dirobs 2020 Jun 05, 2020: Walmart director Steven S. Reinemund awarded shares Friday June 05, 2020 Walmart (NYSE:WMT) Director Steven S. Reinemund, was awarded 1,433 shares worth USD174,984 on June 04. Jul 02, 2020: Walmart director Steuart L. Walton awarded shares Thursday July 02, 2020 Walmart (NYSE:WMT) Independent Director Steuart L. Walton, was awarded 250 shares worth USD29,945 on June 30. Oct 02, 2020: Walmart director Sarah J. Friar awarded shares Friday October 02, 2020 Walmart (NYSE:WMT) Independent Director Sarah J. Friar, was awarded 214 shares worth $29,941 on September 30. 2022 Jan 11, 2022: Walmart chief technology officer Suresh Kumar awarded shares Tuesday January 11, 2022 Walmart (NYSE:WMT) Chief Development Officer and Chief Technology Officer Suresh Kumar, was awarded 13,804 shares worth $2 million on January 07. PIB-Dirbs 2020 Apr 17, 2020: Walmart CEO-walmart ecommerce u.s. Marc Lore sells Friday April 17, 2020 Walmart (NYSE:WMT) CEO-Walmart eCommerce U.S. and President-Walmart eCommerce U.S. Marc Lore sold 85,000 shares worth $US10,924,618 on April 15. The selling price was $US128.52. May 08, 2020: Walmart CEO-walmart ecommerce u.s. Marc Lore sells Friday May 08, 2020 Walmart (NYSE:WMT) CEO-Walmart eCommerce U.S. and President-Walmart eCommerce U.S. Marc Lore sold 85,000 shares worth USD10,459,301 on May 07. The shares hit a six-day low on the day. Sep 29, 2020: Walmart director S. Robson Walton sells Wednesday September 30, 2020 Walmart (NYSE:WMT) Director S. Robson Walton sold 752,085 shares worth $103,182,830 on September 29. The selling price was $137.20. The shares hit a six-day high on the day. 2021 Nov 29, 2021: Walmart CEO Doug McMillon sells Monday November 29, 2021 Walmart (NYSE:WMT) Chief Executive Officer, Director and President Doug McMillon sold 9,708 shares worth $1,424,892 on November 24. The selling price was $146.78. The shares hit a nine-day high on the day. Dec 28, 2021: Walmart director S. Robson Walton sells Tuesday December 28, 2021 Walmart (NYSE:WMT) Director S. Robson Walton sold 601,845 shares worth $84,508,547 on December 27. The selling price was $140.42. The shares hit a ten-day high on the day. 2022 Apr 29, 2022: Walmart CEO Doug McMillon sells shares worth $1.5 million Friday April 29, 2022 Walmart (NYSE:WMT) Chief Executive Officer, Director and President Doug McMillon sold 9,708 shares worth $1,499,052 on April 28. The selling price was $154.41. May 27, 2022: Walmart CEO Doug McMillon sells shares worth $1.2 million Friday May 27, 2022 Walmart (NYSE:WMT) Chief Executive Officer, Director and President Doug McMillon sold 9,708 shares worth $1,219,384 on May 26. The selling price was $125.61. The shares hit an eight-day high on the day. Jun 24, 2022: Walmart CEO Doug McMillon sells shares worth $1.2 million Friday June 24, 2022 Walmart (NYSE:WMT) Chief Executive Officer, Director and President Doug McMillon sold 9,708 shares worth $1,185,608 on June 23. The selling price was $122.13. The shares hit a 14-day high on the day. Aug 26, 2022: Walmart CEO Doug McMillon sells shares worth $1.3 million Friday August 26, 2022 Walmart (NYSE:WMT) Chief Executive Officer, Director and President Doug McMillon sold 9,708 shares worth $1,316,728 on August 25. The selling price was $135.63. Sep 23, 2022: Walmart CEO Doug McMillon sells shares worth $1.3 million Friday September 23, 2022 Walmart (NYSE:WMT) Chief Executive Officer, Director and President Doug McMillon sold 9,708 shares worth $1,301,309 on September 22. The selling price was $134.04. Oct 28, 2022: Walmart executive vice president John Furner sells shares worth $616,612 Friday October 28, 2022 Walmart (NYSE:WMT) Executive Vice President, President and CEO and Walmart U.S. John Furner sold 4,375 shares worth $616,612 on October 27. The selling price was $140.94. The shares hit a three-month high on the day. Dec 23, 2022: Walmart CEO Doug McMillon sells shares worth $1.4 million Friday December 23, 2022 Walmart (NYSE:WMT) Chief Executive Officer, Director and President Doug McMillon sold 9,708 shares worth $1,396,202 on December 22. The selling price was $143.82. 2023 Feb 24, 2023: Walmart director S. Robson Walton sells shares worth $122.9 million Friday February 24, 2023 Walmart (NYSE:WMT) Director S. Robson Walton sold 852,215 shares worth $122,938,787 on February 22. The selling price was $144.26. Mar 30, 2023: Walmart director S. Robson Walton sells shares worth $275.1 million Thursday March 30, 2023 Walmart (NYSE:WMT) Director S. Robson Walton sold 1,908,331 shares worth $275,080,424 on March 29. The selling price was $144.15. May 25, 2023: Walmart executive vice president Dan Bartlett sells shares worth $975,368 Thursday May 25, 2023 Walmart (NYSE:WMT) Executive Vice President Dan Bartlett sold 6,600 shares worth $975,368 on May 23. The selling price was $147.78. The shares hit a two-month low on the day. Jun 30, 2023: Walmart executive vice president John Furner sells shares worth $676,944 Friday June 30, 2023 Walmart (NYSE:WMT) Executive Vice President, President and CEO and Walmart U.S. John Furner sold 4,375 shares worth $676,944 on June 28. The selling price was $154.73. Jul 28, 2023: Walmart executive vice president John Furner sells shares worth $696,675 Friday July 28, 2023 Walmart (NYSE:WMT) Executive Vice President, President and CEO and Walmart U.S. John Furner sold 4,375 shares worth $696,675 on July 26. The selling price was $159.24. Aug 25, 2023: Walmart CEO Doug McMillon sells shares worth $1.5 million Friday August 25, 2023 Walmart (NYSE:WMT) Chief Executive Officer, Director and President Doug McMillon sold 9,708 shares worth $1,536,710 on August 24. The selling price was $158.29. The shares hit a six-day high on the day. Sep 29, 2023: Walmart CEO Doug McMillon sells shares worth $1.6 million Friday September 29, 2023 Walmart (NYSE:WMT) Chief Executive Officer, Director and President Doug McMillon sold 9,708 shares worth $1,576,621 on September 28. The selling price was $162.40. Oct 27, 2023: Walmart CEO Doug McMillon sells shares worth $1.6 million Friday October 27, 2023 Walmart (NYSE:WMT) Chief Executive Officer, Director and President Doug McMillon sold 9,708 shares worth $1,582,297 on October 26. The selling price was $162.99. Nov 29, 2023: Walmart director S. Robson Walton sells shares worth $54.4 million Wednesday November 29, 2023 Walmart (NYSE:WMT) Director S. Robson Walton sold 346,600 shares worth $54,386,443 on November 27. The selling price was $156.91. The shares hit a ten-day high on the day. Dec 29, 2023: Walmart executive vice president John Furner sells shares worth $683,856 Friday December 29, 2023 Walmart (NYSE:WMT) Executive Vice President, President and CEO and Walmart U.S. John Furner sold 4,375 shares worth $683,856 on December 27. The selling price was $156.31. The shares hit a one-month high on the day. 2024 Jan 26, 2024: Walmart executive vice president John Furner sells shares worth $712,688 Friday January 26, 2024 Walmart (NYSE:WMT) Executive Vice President, President and CEO and Walmart U.S. John Furner sold 4,375 shares worth $712,688 on January 24. The selling price was $162.90. The shares hit a 13-day low on the day. Feb 28, 2024: Walmart director S. Robson Walton sells shares worth $117,552 Wednesday February 28, 2024 Walmart (NYSE:WMT) Director S. Robson Walton sold 2,000 shares worth $117,552 on February 26. The selling price was $58.78. The shares hit a six-day high on the day. Mar 14, 2024: Walmart director S. Robson Walton sells shares worth $21 million Thursday March 14, 2024 Walmart (NYSE:WMT) Director S. Robson Walton sold 345,000 shares worth $21,020,505 on March 14. The selling price was $60.93. |