Walmart Exceeds
Earnings Expectations , as Inflation Heats Up.
Walmart analysts point to increased grocery traffic in stores as one of the main reasons for the strong third quarter earnings.
Rising costs of everyday purchases due to a hampered supply chain have shoppers seeking lower prices.
Walmart's massive operation and infrastructure means the company has bypassed the worst of the supply chain woes.
allowing it to maintain
relatively stable prices.
Walmart CEO Doug McMillon expressed optimism about the holiday shopping season.
There’s a level of excitement in the air. You can feel it. , Doug McMillon, Walmart CEO, via CNBC.
I’ve been walking away from these stores with a recurring thought, ‘We’re ready, we have the people, the products, and
the prices to deliver a great
holiday season.’, Doug McMillon, Walmart CEO, via CNBC.
Walmart executives say that the company
is poised to deflect rising costs.
We’ve always been an inflation fighter for customers, Brett Biggs, Walmart Chief Financial Officer,
via CNBC.
Our scale and the product breadth that we have allows us to do things in a way that is beneficial to customers and beneficial to shareholders, Brett Biggs, Walmart Chief Financial Officer,
via CNBC.
Despite inflation worries, Walmart executives also say that consumer confidence seems high.
Overall, the consumer appears to us to be in really good shape, Brett Biggs, Walmart Chief Financial Officer,
via CNBC.
Wages are up. Jobs are available and spending appears to
be strong, Brett Biggs, Walmart Chief Financial Officer,
via CNBC.
Walmart is currently valued at
nearly $410 billion