Sunday, 22 October, 2017

Walmart trims store growth to focus on remodels, e-commerce

Wal-mart Stores, Inc. - WMT - Stock Price Today - Zacks Wal-Mart promises 30-second returns in stores, as Amazon tries to catch up
Mae Harvey | 11 October, 2017, 00:27

The company's spokesperson said, "We will be using technology to help us spot irregular behavior".

"By leveraging our physical stores and the Walmart app, we're changing the returns game in ways that only Walmart can do", added Mr. Eckert. By comparison, Walmart has 4,700 locations, which places a Walmart store within 10 miles of 90 percent of Americans, the company said.

"We are going to lean into places like technology, e-commerce, worldwide stores", Wal-Mart Chief Financial Officer Brett Biggs said at the Bentonville, Arkansas company's annual investor meeting which was webcast. In addition, company officials anticipate e-commerce sales growth of approximately 40% in its US division. Clients will receive their money back yet they won't have to take back such items to the store. "Faster growth in (e-commerce) should lead to earnings pressure though, as this operation is likely still several years away from profitability".

"Wal-Mart customers think of Walmart.com as "Wal-Mart" regardless of where the products originate and will expect Wal-Mart to accept returns for any items available on its digital platform", Spieckerman said. "You are going to start to see those two businesses converge and I think you will be able to shake expenses out of the system and I think Wal-Mart is in the early stages of that". And the company reiterated its profit target for the current year, saying earnings would be $4.18 to $4.28 a share.

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Wal-Mart also announced plans to buy back $20 billion in shares in fiscal 2019, which ends around January of that year.

Investors and Traders continue to monitor technical levels of shares of Wal-Mart Stores, Inc. "We're executing our strategy and moving with speed to win with the customer, who is more connected than ever".

And by next year, the new service will expand to include third-party sellers on the company's online marketplace, Walmart.com.

Walmart shares rose more than 5% to more than $84 in trading Tuesday. While talking about the groceries, Wal-Mart is already leading in the United States' market and is considered the best in driving over half its USA earnings from this particular category. 9, the new service will enable online customers to use the Walmart app to begin the returns process - before even heading to their local store.

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