rtmark
LearnBonds.com

Wal-Mart Stores, Inc. (WMT) Eyes $45-$60Bn Sales By 2019

Wal-mart Stores Inc (WMT)
Wal-Mart Stores, Inc.  has a set a goal of up to $60 million in sales over the next three years. The world’s biggest retailer expects $45 billion to $60 billion in sales by 2019, Reuters reported. Earlier this month, McMillon urged the company’s associates and shareholders to reimagine retail again at the 46th annual shareholders meeting.

Talking to delegates at the Consumer Goods Forum conference in the South Africa, CEO Doug McMillon said: “So sometimes people say Walmart is not really a growth company any more. I want to say: ‘Well, if we layer on $50 to $60 billion, would that count, in three years?”

Wal-mart Stores Inc (WMT)

For the first quarter of fiscal 2017, Wal-Mart reported total revenue of $115.9 billion. Its sales at Walmart International were $28.1 billion.

“We expect second quarter fiscal 2017 earnings per share to range between $0.95 and $1.08,” Wal-Mart EVP and CFO Brett Biggs said in a statement. “Additionally, we expect comp sales for Walmart U.S. to be about +1.0 percent, and Sam’s Club, without fuel, to be slightly positive for the 13-week period ending July 29, 2016.”

Wal-Mart Excited About China

Additionally, McMillon said that retailer sees many opportunities in China despite tough competition. “China is a tremendous opportunity and I am very excited about China, bullish on China, but it’s extraordinarily competitive, very creative competitors involved, so it’s going to be tough,” he said.

Recently, Wal-Mart announced management changes, naming Dirk Van De Berghe as head of the Walmart China business. Dirk currently serves as president and CEO of Walmart Canada and his appointment will become effective August 22. He will also serve as regional president for the company’s Asia business, including Walmart Japan.

At the annual shareholders meeting, McMillon called on the company’s 2.3 million associates to write the next chapter in Walmart’s story. The retailer plans to expand its online presence, improving online shopping system, fast delivery service, and user-friendly apps and website. “We have the opportunity to reimagine retail again,” McMillon said.

To compete with Amazon which is boosting its shipping and delivery network, Wal-Mart Stores, Inc.  announced that it will test grocery home delivery service with ride-sharing services Uber, Lyft and Deliv. The tests will conducted in Denver and Phoenix. The retailer is testing drones to manage inventory at its large warehouses. The company plans to use flying machines to handle inventory at its warehouses in the future.

On Wednesday, Wal-Mart announced that it is cutting accounting and other back-office jobs at about 500 stores in the U.S. to become more efficient and improve customer service to boost sales.

Visa – Wal-Mart Canada Dispute

Wal-Mart and Visa are fighting in Canada over the fees that the payment company wants to set for card transactions at the retailer’s stores in Canada. The retailer said last week it will stop accepting Visa cards at its stores Ontario starting from July 18, and would extend this across Canada.

Defending the fees, Visa said it offered the retailer “one of the lowest rates” in the country, The Wall Street Journal reported.

“Wal-Mart is unfairly dragging millions of Canadian consumers into the middle of a business disagreement that can and should be resolved between our companies,” Visa wrote in advertisements that appeared in Canadian newspapers on Thursday.

Shares of Wal-Mart Stores, Inc.  have gained over 15% year-to-date.

Trusted & Regulated Stock & CFD Brokers

Rating

What we like

  • 0% Fees on Stocks
  • 5000+ Stocks, ETFs and other Markets
  • Accepts Paypal Deposits

Min Deposit

$200

Charge per Trade

Zero Commission

Rating

64 traders signed up today

Visit Now

75% of investors lose money when trading CFDs.

Available Assets

  • Total Number of Stocks & Shares5000+
  • US Stocks
  • German Stocks
  • UK Stocks
  • European
  • ETF Stocks
  • IPO
  • Funds
  • Bonds
  • Options
  • Futures
  • CFDs
  • Crypto

Charge per Trade

  • FTSE 100 Zero Commission
  • NASDAQ Zero Commission
  • DAX Zero Commission
  • Facebook Zero Commission
  • Alphabet Zero Commission
  • Tesla Zero Commission
  • Apple Zero Commission
  • Microsoft Zero Commission

Deposit Method

  • Wire Transfer
  • Credit Cards
  • Bank Account
  • Paypall
  • Skrill
  • Neteller

Rating

What we like

  • Sign up today and get $5 free
  • Fractals Available
  • Paypal Available

Min Deposit

$0

Charge per Trade

$1 to $9 PCM

Rating

Visit Now

Investing in financial markets carries risk, you have the potential to lose your total investment.

Available Assets

  • Total Number of Shares999
  • US Stocks
  • German Stocks
  • UK Stocks
  • European Stocks
  • EFTs
  • IPOs
  • Funds
  • Bonds
  • Options
  • Futures
  • CFDs
  • Crypto

Charge per Trade

  • FTSE 100 $1 - $9 per month
  • NASDAQ $1 - $9 per month
  • DAX $1 - $9 per month
  • Facebook $1 - $9 per month
  • Alphabet $1 - $9 per month
  • Telsa $1 - $9 per month
  • Apple $1 - $9 per month
  • Microsoft $1 - $9 per month

Deposit Method

  • Wire Transfer
  • Credit Cards
  • Bank Account
All trading carries risk. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.
Avatar