A few live notes from the $WMT earnings call:
1. On inventory:
"We've made good progress to improve our inventory position globally inventory is up 13% for the quarter...Inflation drives the majority of the increase rather than units"
1. On inventory:
"We've made good progress to improve our inventory position globally inventory is up 13% for the quarter...Inflation drives the majority of the increase rather than units"
2. On US comps:
"For Walmart US comp sales momentum accelerated in Q3 with a two-year stack of 17.4% up 570 bps from Q2. Monthly sales gains were relatively consistent throughout the quarter. Food sales continued to lead with mid-teens growth.
[Chart: @TSOH_Investing] $WMT
"For Walmart US comp sales momentum accelerated in Q3 with a two-year stack of 17.4% up 570 bps from Q2. Monthly sales gains were relatively consistent throughout the quarter. Food sales continued to lead with mid-teens growth.
[Chart: @TSOH_Investing] $WMT
3. On advertising:
"Strong digital advertising growth continued this quarter, increasing over 30% on a global basis led by 40% growth in Walmart Connect in the US & Flipkart adds in India"
$WMT
"Strong digital advertising growth continued this quarter, increasing over 30% on a global basis led by 40% growth in Walmart Connect in the US & Flipkart adds in India"
$WMT
4. High-income consumers going to Walmart:
"...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 $100000 in annual income"
$WMT
"...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 $100000 in annual income"
$WMT
5. $WMT inventory:
"Q3 inventory up only 13% Vs last year...this level represents a >10 pp improvement Vs Q2. Notably, about 70% of the YoY increase relates to inflation. We feel good about our ability to sell through majority of this in Q4 & expect continued YoY improvement"
"Q3 inventory up only 13% Vs last year...this level represents a >10 pp improvement Vs Q2. Notably, about 70% of the YoY increase relates to inflation. We feel good about our ability to sell through majority of this in Q4 & expect continued YoY improvement"
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