Walmart (WMT) will announce its quarterly results next week, and CWEB continues with a Buy rating for the giant retailer’s stock. However, this is not the only reason that Walmart shares, revenue, and earnings are significant, as the big retailer reflects the nation’s spend. Walmart is the largest retailer in the nation, with increasing e-commerce sales every quarter and continuing robust in-store sales that reflect on its revenue and earnings.
Walmart earnings always set the trend of consumer health and sentiment in the nation. Walmart CEO Doug McMillon and other senior staff are expected to be on an earnings call on Tuesday, November 19. The Bentonville, Arkansas, company is expected to deliver good results, as retail data indicates retail spending increased in October.
Walmart is scheduled to release its quarter report on Tuesday, November 19, before the market, followed by an earnings call later that day. Most investors are looking forward to good numbers and an increase in earnings and revenue boosted by the push in retail in October.
Last quarter, CFO John Rainey said that Walmart saw an influx of high-income consumers who opted for its subscription service, Walmart Plus. The membership program is popular among all its web fans but is now seeing more spending on higher-priced items than before. Consumers are reportedly spending more than before on private labels.
The Commerce Department released data showing spending increased in eight of 13 departments. As prices slowly decrease, retail fans are spending more on electronics and fun categories, though grocery spending also increased by one percent in October.
Walmart always has robust grocery earnings, offering a wide range of food products with deep discounts throughout the year. Now, with increased consumer spending on jewelry, electronics, makeup, and other discretionary categories as well as everyday ones such as shaving cream, razors, water bottles, soap, toothpaste, and other such items, Walmart is expected to deliver results that will please its current investors and could bring in new investors as well.
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