walmart
New York (AFP) - Walmart announced Tuesday it will buy smart television maker Vizio for $2.3 billion, boosting the retail giant's advertising venture as growth slows in its legacy business from the pandemic boom. With the all-cash purchase, the US shopping behemoth gains access to Vizio's more than 18 million accounts as another source of strengthened potential connection to those households. Based in California, Vizio is known for what Walmart called "immersive entertainment" through a "customer-centric platform" that lets viewers stream content for free by watching ads. Analysts said the de...
AFP
New York (AFP) - Walmart narrowly lifted its full-year forecast on Thursday following solid quarterly results as it continued to navigate a market challenged by elevated pricing that has depressed demand for some goods. The giant retailer, which emphasizes its strength as a value-oriented vendor, reported profits of $453 million. That compares with a loss of $1.8 billion in the 2022 period, which was hit by large costs tied to an opioid settlement. The results come on the heels of a more than year-long period in which US households have been buffeted by the most acute period of consumer price ...
AFP
New York (AFP) - Walmart narrowly lifted its full-year forecast on Thursday following solid quarterly results as it continued to navigate a market challenged by elevated pricing that has depressed demand for some goods. The giant retailer, which emphasizes its strength as a value-oriented vendor, reported profits of $453 million. That compares with a loss of $1.8 billion in the 2022 period, which was hit by large costs tied to an opioid settlement. Revenues rose 5.2 percent to $160.8 billion. The giant retailer now expects full-year profits of between $6.40 to $6.48 per share, up from the prio...
AFP
New York (AFP) - Walmart raised its full-year forecast on Thursday as it posted another quarter of solid results, grabbing market share in groceries and other staples against a backdrop of inflationary pressures. The big retailer, which has been seen as well-positioned amid a period of pricing pressure because of its reputation for value, enjoyed another quarter of growing sales at its namesake US stores. Walmart reported second-quarter profits of $7.9 billion, up 53 percent from the year-ago period, a time marred by excess inventories due in part to pandemic supply chain issues. Revenues rose...
AFP
New York (AFP) - Walmart raised its full-year forecast on Thursday following a jump in quarterly profits, pointing to solid increases at US stores and e-commerce. The big retailer, which has been seen as well positioned amid inflation because of its reputation for value, enjoyed another quarter of growing sales at its namesake US stores, with robust demand for groceries and pharmaceuticals offsetting weakness in discretionary consumption and the effects of wage increases. Walmart reported second-quarter profits of $7.9 billion, up 53 percent from the year-ago period, a period marred by excess ...
AFP
New York (AFP) - Walmart raised its full-year profit forecast on Thursday following strong sales growth in the United States fueled by gains in grocery and other household staples. The giant US retailer, which has been seen as a winner in a period of consumer inflation pressure because of its ability to keep prices lower through economies of scale, pointed to gains in grocery market share in the United States with higher-income households. While Walmart raised its outlook, executives cautioned that shoppers remain pressured following a lengthy stretch of inflation that has lifted prices consid...
AFP
New York (AFP) - Walmart announced Thursday plans to add electric vehicle (EV) chargers to thousands of US stores in a sign of further mainstreaming of emission-free autos. The US retail giant, which has EV chargers at a fraction of its US stores, plans to "build our own EV fast-charging network at thousands of Walmart and Sam's Club locations coast-to-coast," said a Walmart news release, noting that approximately 90 percent of the US population lives within 10 miles of a Walmart. The announcement is the latest sign of movement in the US transportation market in what is expected to be a years-...
AFP
New York (AFP) - Walmart reported better profits than expected for the critical holiday-season quarter Tuesday, but offered a cautious outlook on the year ahead as inflation squeezes consumers. The world's biggest retailer benefited from robust sales in groceries that offset weakness in discretionary goods during the just-finished quarter. Chief Executive Doug McMillon said the chain expects "stubborn inflation" in food as executives acknowledged that grinding price pressures were hitting some consumers, denting the outlook. But McMillon said the chain's expanded e-commerce and delivery busin...
AFP
New York (AFP) - US retailer Walmart on Tuesday saw its earnings top expectations in the third quarter as consumers looked for bargains amid surging inflation, but its numbers were weighed down by a settlement stemming from the US opioid crisis. The big-box retailer said it continued to gain market share in the grocery sector, raising its full-year outlook on strong results despite a challenging environment this year. Total revenue came in better than expected at $152.8 billion, up 8.7 percent from a year ago. Walmart also expects that its full-year adjusted profit will decline between 6.5 per...
AFP
New York (AFP) - Walmart cut its profit outlook Monday as surging inflation prompts shoppers to cut back on higher-margin items as they contend with increased prices for gasoline, food and other staples. The world's biggest retailer now expects a double-digit decline in operating income for both the second quarter and full year after previously projecting the potential for a slight increase for the second quarter and a decrease of about one percent for the year. Not all of the latest figures were downgrades to Walmart's forecast, however. The company now expects comparable sales growth of six ...
AFP
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