PREVIEW: Walmart rises as analysts focus on groceries
** Shares of Walmart Inc WMT.N up 0.4% ahead of the heavyweight retailer's qtrly report early on Thur, as investors focus on strong grocery sales
** In its previous report in May, co raised its full-year forecast, sending its shares to biggest one-day gain in four years as its relative reliance on grocery sales gave it an advantage over Target TGT.N and other rivals
** "We expect solid 2Q24 results, reflecting continued unit share gains in grocery, ongoing sequential improvement in non-discretionary items, gains from strategic initiatives, such as digital and store resets, and benefits from rollbacks and selective promotions," TAG analysts wrote in an Aug. 9 preview
** Shares of Walmart have surged 30% in 2024, outperforming the S&P 500's .SPX 14% rise
** Analysts on avg expect qtrly rev up 4.3% to $168.53 bln and adjusted EPS of $0.65 vs $0.61 yr-ago, per LSEG
Reporting by Noel Randewich
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
