Add news
March 2010April 2010May 2010June 2010July 2010
August 2010
September 2010October 2010
November 2010
December 2010
January 2011
February 2011March 2011April 2011May 2011June 2011July 2011August 2011September 2011October 2011November 2011December 2011January 2012February 2012March 2012April 2012May 2012June 2012July 2012August 2012September 2012October 2012November 2012December 2012January 2013February 2013March 2013April 2013May 2013June 2013July 2013August 2013September 2013October 2013November 2013December 2013January 2014February 2014March 2014April 2014May 2014June 2014July 2014August 2014September 2014October 2014November 2014December 2014January 2015February 2015March 2015April 2015May 2015June 2015July 2015August 2015September 2015October 2015November 2015December 2015January 2016February 2016March 2016April 2016May 2016June 2016July 2016August 2016September 2016October 2016November 2016December 2016January 2017February 2017March 2017April 2017May 2017June 2017July 2017August 2017September 2017October 2017November 2017December 2017January 2018February 2018March 2018April 2018May 2018June 2018July 2018August 2018September 2018October 2018November 2018December 2018January 2019February 2019March 2019April 2019May 2019June 2019July 2019August 2019September 2019October 2019November 2019December 2019January 2020February 2020March 2020April 2020May 2020June 2020July 2020August 2020September 2020October 2020November 2020December 2020January 2021February 2021March 2021April 2021May 2021June 2021July 2021August 2021September 2021October 2021November 2021December 2021January 2022February 2022March 2022April 2022May 2022June 2022July 2022August 2022September 2022October 2022November 2022December 2022January 2023February 2023
News Every Day |

Walmart Says Inventory is Down and $100K+ Shoppers Are Up

The country’s largest retail chain said Tuesday that its efforts to reduce inventory were paying off thanks in part to an increase in customers seeking price relief in the face of high inflation — especially more affluent households. 

For the three months that ended Oct. 31, Walmart said its Q3 worldwide revenues rose 8.7%, with the U.S. business delivering 8.2% topline growth, led by a 16% advance in its expanding digital businesses and a 30% jump in revenue at its new advertising venture.

“What you see in our results is that we can run compelling stores and clubs, scale a first- and third-party eCommerce business, and connect them together in an omnichannel fashion that saves customers and members money and time,” Walmart CEO Doug McMillon told analyst and investors on the company’s earnings call.  

In touting the ongoing transformation from its core fleet of 10,500 stores worldwide, McMillon said the retailer’s current strategy continues to unlock growth opportunities in what he described as a thread that runs from digital retail to fulfillment and advertising while also opening up other opportunities within health and wellness and financial services. 

“This quarter demonstrates again that we can navigate short-term challenges and build for the long term simultaneously,” he added.

Inflation and Inventories

Even prior to the earnings report, the 2% year-to-date gain in Walmart’s stock had been outperforming the market benchmarks and trouncing rival Amazon, whose shares have fallen 40% in 2022.  

That said, shareholders were pleased with the company’s increased outlook for the full year and efforts to normalize a glut of inventory and bid the shares up 7% in early trading Tuesday in a sign that its value-proposition is resonating with both investors and consumers. 

“Our purpose of saving people money has never been more important as inflation remains consistently high,” CFO John Rainey said on the call, noting that high fuel prices and mid-teens food price inflation have forced consumers to more tightly manage household budgets and show a bias in buying habits for everyday essentials.

“Walmart is well positioned to serve customers and gain greater trip frequency during tougher economic periods, and we have even more tools to do so in the cycle,” Rainey added. “For example, we've continued to gain grocery market share from households across income demographics, with nearly three quarters of the share gain coming from those exceeding $100,000 in annual income.”

Even so, the retailer made no change to its current holiday quarter sales guidance, saying that, despite a good start to Q4, its outlook assumes consumers would slow spending, especially in general merchandise categories. 

“Given persistent inflationary pressures in food and consumables, our guidance provides flexibility to compete in a promotional environment and also accounts for pricing action to reduce remaining excess inventory and anticipates ongoing mixed pressure for Q4,” Rainey said, in referencing a 3% comp sales growth outlook for Walmart U.S., in which food and other consumables were pegged to outpace general merchandise.

On the inventory front, the retailer’s executive team said the reductions have gotten to the point and a normalized level where they expect to no longer have to discuss the issue, saying Q3 inventory was up just 13% versus last year —  including 12.4% at Walmart U.S. — a move that represents more than a 10-percentage-point improvement versus the end of Q2.  

“Notably, about 70% of the year-over-year [inventory] increase relates to inflation,” Rainey said. “We feel good about our ability to sell through the majority of this in Q4 and expect continued year over year improvement even when including the effects of inflation.” 

In response to recent reports and questions that Walmart was refusing price increases from suppliers, McMillion said nothing has changed in how the retailer uses its global scale to get better prices. 

“We are trying to find ways with our current suppliers to get costs down, to provide value to customers and members and we're trying to be creative about it,” McMillion said, noting that some suppliers were more aggressive and receptive than others. 

“We welcome that,” he added “[but] that's the way we always behave” to keep prices down.

For all PYMNTS retail coverage, subscribe to the daily Retail Newsletter.

Game News

Google unveils its own ChatGPT-like AI chatbot

Intel Arc A770: 3 Month Performance Check-In

AUSTRIAN AIRLINES Boeing 777 Business Class Vienna to Mauritius trip report (4K)

The Bermuda Triangle Explained

The Ultimate SAUDI ARABIAN FOOD Tour in Riyadh! 5 Best Restaurants You Can't Miss!

Read also

: Carrier Global profit and sales fall but match expectations

Exclusive: Fabrizio Romano confirms Man United star looks set to make way for new signing

Can you buy antibiotics over the counter?

News, articles, comments, with a minute-by-minute update, now on

News Every Day

Intel Arc A770: 3 Month Performance Check-In — latest news 24/7. You can add your news instantly now — here

News Every Day

AUSTRIAN AIRLINES Boeing 777 Business Class Vienna to Mauritius trip report (4K)

Sports today

Новости тенниса

Сафиуллин поднялся на 18 ступенек в рейтинге ATP

Спорт в России и мире

Как долго длится баскетбольный матч?

All sports news today

Sports in Russia today


«Ни дня без лыж» — девиз спасателя Московского авиацентра!

Новости России

Game News

Apple проведёт AI summit для сотрудников в очном формате впервые за три года


«С Казахстаном немножко все сложнее». Почему «Барыс» не попадает в плей-офф и останется ли он в КХЛ

Губернаторы России

МТС и РОСЭУ приглашают предпринимателей на бесплатный онлайн-вебинар по электронной подписи

«Купи слона»: самые необычные и оригинальные объявления на просторах Сети

Шапки мужские и женские (акция от Wildberries / Y're на головные уборы)

В аэропорту Васьково началась подготовка к приёму региональных авиарейсов

В нижегородском монастыре нашли старинную икону «Крест-Мощевик с предстоящими»

Сергей Пенкин рассказал, как 11 раз поступал в Гнесинку

Осужденного из-за клипа Rammstein активиста переведут на строгие условия содержания

Зрители не оценили новый проект Ларисы Долиной и Вали Карнавал

Певец Юрий Лоза выпустил новую песню «Мадам»

Павлюченкова одержала первую победу с января 2022 года

Триумф Кучерова и Василевского, передачи Панарина и гол Овечкина: девять россиян приняли участие в Матче звёзд НХЛ

18-летний Артур Фис прокомментировал первую победу на турнирах ATP

Сафиуллин поднялся на 18 ступенек в рейтинге ATP

Прокуратура сообщила о том, что школьница ранила ножом одноклассницу в Химках

В нижегородском монастыре нашли старинную икону «Крест-Мощевик с предстоящими»

Сергей Куприк привез 20 тонн лекарств для госпиталей военных в ДНР и ЛНР

«Я её убила»: в Подмосковье пятиклассница с ножом набросилась на сверстницу в школьном туалете

Государственный терроризм в Азербайджане: Заявление в связи с очередным перекрытием подачи газа в Нагорный Карабах

90 тонн книг и 80 регионов: «Деловые Линии» подвели промежуточные итоги совместной акции с РГДБ

Дмитрия Нагиева снова прокатили: стал известен новый ведущий и члены жюри 11-го сезона шоу "Голос"

WESO – новый бренд компонентов автомобильных выхлопных систем европейского качества

В Луховицах первыми участниками акции «Гибкая подводка»-2023 стали 27 квартир

На Орловщине в среднем на одного жителя приходится более 150 тысяч рублей вкладов в банках

Дептранс: Водители экономят 8-12 минут в пути между районами возле МСД

Раненую 11-летнюю школьницу из Химок доставили в больницу на вертолете

Путин в России и мире

Персональные новости

Пол Маккартни

Морган Невилл снимет документальный фильм о жизни Пола Маккартни после распада The Beatles

News Every Day

AUSTRIAN AIRLINES Boeing 777 Business Class Vienna to Mauritius trip report (4K)

Friends of Today24

Музыкальные новости

Персональные новости