Walmart Earnings Hit New Records, Stocks Soar As Online Shopping Increased Profits

 

 

On Tuesday, Walmart reported higher than expected third quarter earnings. The earnings reached high levels due to large online sales which have become a norm in the work-from-home culture that is set to return in larger number with new cases of COVID-19 on the rise.

 

Walmart Numbers vs Bloomberg consensus forecasts are as follows: Revenues were $134.7 billion while the forecast was $132.42 billion, The adjusted EP was $1.34 while the expectations were $1.18. The Walmart U.S. comp-store sales was 6.4% while the expectations were 3.3%. Walmart e-commerce sales were up by 79%.

 

Walmart said that shoppers “continued to consolidate store shopping trips with significantly larger average baskets and shifted more purchases to eCommerce.”

 

The grocery pickup and delivery operations hit record highs. In the US, Walmart has over 4,700 stores At the end of the quarter there are 3,600 locations that offer pickup service and approximately 2,900 stores offer same-day delivery.

 

Walmart stock also hit a record high near $156, as shares rose by 2.17% or approximately $3.31.

 

The eCommerce trend, a result of the COVID-19 era, will continue to boost big-box retailers as new infections spread across the nation and lockdowns are put in place by various states.

Walmart Inc. (NYSE:WMT)’s CEO Doug McMillon  is considered the genius who took Walmart to the next level of e-commerce operations and in direct competition to Amazon.

 

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, over 265 million customers and members visit approximately 11,500 stores under 56 banners in 27 countries and eCommerce websites. With fiscal year 2020 revenue of $524 billion, Walmart employs over 2.2 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.

NYSE: WMT    CWEB Analysts view the stock as a long term growth and a great addition to your investment portfolio with an upward momentum of $1000 by 2021 with direct competition to Amazon.


Follow us on Google news for more updates and News










PLEASE READ THE IMPORTANT DISCLOSURES BELOW.

This content is being provided to you for informational purposes only. The content has been prepared by third parties not affiliated with CWEB Inc, a business. This content and any information contained therein, does not constitute a recommendation by CWEB to buy, sell or hold any security, financial product or instrument referenced in the content. This information neither is, nor should be construed as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. CWEB Inc. does not offer or provide any opinion regarding the nature, potential, value, suitability or profitability of any particular investment or investment strategy, and you shall be fully responsible for any investment decisions you make, and such decisions will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, and liquidity needs.

Unless stated otherwise, the web content provided by the CWEB family of companies is for educational purposes only. The information and tools provided neither are, nor should be construed, as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. or its affiliates. Unless stated otherwise, no information presented constitutes a recommendation by CWEB Inc. or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy.

Full Disclaimer

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.