Walmart Inc. - WMT STOCK NEWS

Walmart Inc. (NYSE: WMT) reported Q2 FY23 earnings with a GAAP EPS of $1.88 and an Adjusted EPS of $1.77. The company achieved a total revenue of $152.9 billion, marking an 8.4% increase. Comp sales for Walmart U.S. grew 6.5%, with eCommerce growth at 12%. Walmart International net sales rose to $24.4 billion, despite a $1.0 billion negative impact from currency fluctuations. A notable decline in consolidated gross profit rate was recorded at 132 basis points due to markdowns.

Walmart is enhancing its Walmart+ membership by adding a Paramount+ Essential Plan at no additional cost, effective September. Members can enjoy popular shows and movies, boosting the membership's perceived value without a price increase ($98/year or $12.95/month). This move aims to attract more subscribers as 85% of U.S. households use streaming services. Walmart’s strategy focuses on providing comprehensive benefits, as evidenced by positive member growth since its launch in September 2020.

This month, Walmart will open a new 400,000 square-foot high-tech consolidation center in Lebanon, PA, creating nearly 1,000 jobs. The facility will utilize automated technology, allowing three times more volume to flow through and improving supply chain efficiency across 42 regional distribution centers. This center will help suppliers consolidate deliveries into larger freight loads, streamlining processes. Walmart is continuously investing in its supply chain technology to enhance product delivery and service small to medium-sized suppliers.

Walmart Inc. (NYSE: WMT) will hold a live conference call at 7 a.m. CDT on Aug. 16, 2022, to discuss its second quarter earnings results for fiscal year 2023. CEO Doug McMillon and CFO John David Rainey will present and answer questions during the call. Earnings results will be released at 6 a.m. CDT on the same day. Investors can access the live event and archived results via Walmart's corporate website.

Walmart (NYSE: WMT) has formed a partnership with Getaway to open mini-retail experiences called The General Store at select Getaway Outposts, enhancing access to nature for guests. Starting this fall, these stores will offer outdoor gear and essentials, promoting convenience for visitors. The first location opens in August 2022 at Getaway Hill Country in Texas, with more stores planned across the U.S. The initiative aims to support local communities and provide guests with a unique shopping experience, and it includes a complimentary Walmart+ trial for guests.

Walmart announces an exclusive partnership with WALDO, making innovative eyecare more accessible. Starting July 26, WALDO's Hydra Boost Daily Lenses will be available at Walmart Vision Centers and online for $23.86, offering savings of 13%-84% compared to similar products. The collaboration aims to foster eye health awareness and improve customer experience in over 3,000 vision centers nationwide. Walmart continues to enhance its healthcare offerings, emphasizing affordability and quality in eyecare.

Walmart Inc. has revised its profit outlook for Q2 and FY23, lowering expectations due to pricing actions to manage inventory levels. Operating margins are anticipated to be approximately 4.2% in Q2, with FY23 margins projected at 3.8% to 3.9%. Net sales outlook remains optimistic, with FY23 projected growth of 7.5% in Q2 and 4.5% for the full year. However, comp sales growth is affected by food inflation and markdowns, particularly in apparel. The company aims for a 3% comp sales growth in the back half of the year.

Walmart (NYSE: WMT) has signed a definitive agreement to purchase 4,500 all-electric Lifestyle Delivery Vehicles (LDVs) from Canoo (NASDAQ: GOEV), with an option for up to 10,000 units. These vehicles will enhance Walmart's sustainable delivery capabilities, contributing to its goal of achieving zero emissions by 2040. The LDVs are designed for last-mile deliveries, featuring improved ergonomics and cargo space. Initial deliveries are expected to begin in 2023, with advanced testing starting soon in the Dallas Fort Worth area. This partnership aims to streamline Walmart's logistics and meet growing eCommerce demands.

Walmart has integrated its InHome delivery service into the Walmart+ membership, providing a streamlined option for customers. This change allows members to access all delivery services from one platform, meeting customer demand for convenience. InHome delivery is expanding to new markets including Miami and San Francisco, potentially reaching over 30 million households by year-end. Members can add InHome delivery for $7 monthly or $40 annually, resulting in a total of $138 per year, which is a $10 reduction compared to separate memberships.