Inventories at Walmart’s US business are up 17 per cent compared with two years ago, the company said in a presentation on Tuesday. “Looking ahead, we have the people, the products, and the prices to deliver a great holiday season for our customers and members.”Ĭonfronted with backlogs at US ports, Walmart has been among the giant retailers to charter their own ships and route them to smaller ports.Ĭonfronted with backlogs at US ports, Walmart has been among the giant retailers to charter their own ships and route them to smaller ports “Our momentum continues with strong sales and profit growth globally,” said chief executive Doug McMillon. Walmart has also reduced markdowns on goods, helping to offset profit pressure in an inflationary environment. The biggest retailer in the world acknowledged higher costs connected with shipping and supply chain pressures, but said it had built up additional stockpiles of goods to meet demand. The big-box chain now projects full year adjusted earnings of $6.40 per share, up from the prior range of $6.20 to $6.35 a share after third-quarter US comparable sales jumped by 9.2 per cent. Walmart lifted key profit forecasts on Tuesday following another solid quarter and expressed confidence it would have sufficient inventories for the holidays despite global supply chain snarls.
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