Walmart it sells food and basic necessities, at prices somewhat lower than the competition, hence its sales have increased, however, its products are also quite high.
In the second quarter, turnover stood at 161.630 million dollars.
The group posted a net profit of $7.9 billion, up 53.3% compared to the same period in 2023.
Earnings per share are $2.92, above consensus expectations, which forecast an average of $1.70, but extremely low when compared to large companies and pre-pandemic value.
The world’s largest retail conglomerate benefited from good grocery sales, which offset weakness in discretionary goods in the recently ended quarter, thanks to higher prices.
Profits for the last quarter of 2022, closed on January 31, amounted to 6.3 billion dollars, 76% more than in the same period of the previous year. Revenues increased 7.3% to $164 billion.
However, shares fell after their forecasts for the next quarter and year diverged from analysts’ estimates, suggesting a bigger impact on sales for price-conscious buyers.
Walmart, the largest private employer in the United States, is considered more isolated in a period of inflation than other chains because of its reputation for value.
The company’s results in the fourth quarter of the previous year showed strength in the sale of groceries and other categories such as pets and personal care.
FOUNTAIN: with information from AFP
