Big-box retailer’s performance will provide a preview of how holiday shopping has evolved during the coronavirus pandemic. Like other retailers, Walmart started sales early due to the global health crisis and has split Black Friday into multiple stores, online events and digital deals..
Here’s what Wall Street expects for the third quarter of the fiscal year, based on an analyst survey by Refinitiv:
Walmart has been one of the beneficiaries of the stay-at-home trends during the pandemic. Since spring, Americans have turned to their stores and website to buy groceries, cleaning supplies and things to pass the time, from puzzles to bicycles.. . The company also benefited from stimulus money, which customers rushed to stores to spend.
Now, however, investors and analysts will see if the retailer can maintain this momentum. With no sign of another stimulus package or additional unemployment benefits, some clients may feel cash-strapped. Others may be concerned about a rise in coronavirus cases, causing trips to the store to be restricted or more online purchases – transactions that come at additional costs and could contribute to the expected crushing of packages this holiday season.
Starting Saturday, Walmart said it will resume counting and restrict the number of customers in the store to ensure stores do not exceed capacity limits.. Some grocery stores, including Kroger, Wegmans, and Publix, have restored purchase limits on toilet paper, spray sterilization, and hand sanitizer.
Walmart, Earnings, NYSE: WMT, Stock
World News – US – Walmart is set to report earnings before the bell – here’s what to expect
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