Trump used Walmart’s performance to say U.S. tariffs, imposed by his administration on imports from China, have had little impact on consumers.Consumer spending going in to the crucial holiday season remains healthy, Chief Financial Officer Brett Biggs told Reuters in an interview on Thursday. Retailers earn a sizeable chunk of their annual revenue during November and December.
The retailer gets 56% of its revenue from food and grocery sales, which allows it to manage the pressure from tariffs better than many rivals, analysts said. In October, Walmart said its chief executive for U.S. operations, Greg Foran, who was credited for turning around the business, will leave the company and be replaced by the head of its Sam’s Club warehouse chain unit, John Furner.
Online sales rose 41%, higher than the previous quarter’s increase of 37 pct and greater than the company’s expectation of 35%. Operating income fell 5.4 percent to $4.7 billion as a result of ongoing investments in e-commerce including faster delivery.
Biz They approve credit easier than AZ
Biz Increased shopping is not a sign of a strong economy.
NorakGroup Could Walmart’s Q3 Earnings Lift Its Stock Further?
Biz Yay! More Chinese crap! And I say this as a capitalist. We are fucked!
Biz Shoulda had a V8!!!😁😂
Biz On the back of taxpayers who support workers whose earnings are so low they qualify for food stamps.
Biz
Biz Blame Trump
Biz Yay then the true stakeholders, the people that work there, will get an increase in their wage packet, good on you Walmart.
Biz So will any employees see that extra earnings or will taxpayers continue to be forced to pay corporate welfare?
Biz Never expected to be a Walmart shopper- then Amazon came along.
Biz 🎉🔥🎉🔥🇺🇸🇺🇸🇺🇸
Biz i don't suppose you have some data on employee's salaries and benefits, do you?