Walmart to Report Strong Holiday Quarter Results, Sets Tone for Retail Industry
Retail giant Walmart is set to release its holiday quarter earnings on Tuesday morning, with Wall Street analysts expecting earnings per share of $1.65 and revenue of $170.71 billion. As one of the largest retailers in the world, Walmart’s performance serves as a barometer for consumer sentiment and the retail industry as a whole.
The company is expected to announce full-year adjusted earnings per share of $6.40 to $6.48 and a 5% to 5.5% increase in consolidated net sales. Despite a 3.8% year-over-year increase in holiday sales, consumer spending dropped in January. However, Walmart has successfully navigated high inflation and made strategic investments to stay ahead.
In an effort to continue its growth, Walmart plans to open or expand more than 150 stores in the U.S. and raise store manager wages. The company also recently announced a 3-for-1 stock split. CEO Doug McMillon warned of potential deflation, highlighting the uncertainty surrounding the economy.
Shares of Walmart have been performing well, up 8% so far this year and outperforming the S&P 500. Investors will be closely watching the earnings report for any updates on the company’s future plans and projections. Stay tuned for more updates on this developing story.
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