“We’re positioned to grow profit faster than sales,” says Walmart CEO Doug McMillon.
Walmart Inc.’s stock rose 0.7% Thursday, boosted by fiscal first-quarter results that beat expectations and the discount retailer’s raised full-year outlook.“We’re positioned to grow profit faster than sales,” said Walmart WMT CEO Doug McMillon, during a conference... Walmart Inc.’s stock rose 0.7% Thursday, boosted by fiscal first-quarter results that beat expectations and the discount retailer’s raised full-year outlook.
Walmart U.S. inventory declined 9% with higher in-stock levels, the company said in its earnings release. “Like their competitor, WMT did see slowing trends throughout the quarter, which is leading to a 2Q guide that is just below consensus,” D.A. Davidson analyst Michael Baker wrote in a note released Thursday. “On balance however, we see the report as favorable and in line with our view that WMT is a name to own in the current economic environment and think the stock should rally on the news.” D.A. Davidson had a buy rating and $178.07 price target for Walmart.
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