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Christmas Early Warning! Walmart Crashes On Disappointing Guidance, Warns That Consumer Spending Is Deteriorating (Jingle Hell?)
Confounded Interest ^ | 11/16/2023 | Anthony B. Sanders

Posted on 11/16/2023 5:36:08 AM PST by Kaiser8408a

Its beginning to look a lot like a BAD Christmas!

We already knew that earnings calls were filled with concerns about a weak Christmas season.

After yesterday’s solid (inventory liquidation driven) earnings from Target, many were hoping for follow through today from the OG, the world’s largest retailer WMT which reported Q3 results at 7:00am ET. Alas, those same long-suffering consumer discretionary investors were in for more disappointment when the retailing giant reported earnings that generally beat on revenue and earnings, and even though it raised its previous guidance, the numbers came in shy of Wall Street estimates which in turn sent its stock tumbling.

Let’s take a closer look at what WMT reported, starting with Q3 historicals:

Adjusted EPS $1.53 vs. $1.50 y/y, just barely beating the (previously lowered) consensus estimate of $1.52 Revenue $160.80 billion, +5.2% y/y, beating the estimate of $159.13 billion (global eCommerce net sales hit $24 billion, reaching 15% of net sales; they were up 15% led by pickup and delivery) Total US comparable sales ex-gas +4.7%, beating the consensus estimate +3.35% Walmart-only US stores comparable sales ex-gas +4.9%, beating consensus estimate +3.46%.

So far so good, and if that was the extent of it the stock would probably be soaring now. However, what the market threw up all over was the company’s disappointing guidance (which was raised but still failed to meet consensus estimates), as well as its cautious tone about the outlook for US shoppers after signs of weakness at the end of October.

(Excerpt) Read more at confoundedinterest.net ...


TOPICS: Business/Economy; Food; Government; Politics
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1 posted on 11/16/2023 5:36:08 AM PST by Kaiser8408a
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To: Kaiser8408a

this far out, why would people buy at walmart when they could easily shop on amazon (with an endless selection) and have it delivered?


2 posted on 11/16/2023 5:42:24 AM PST by sten (fighting tyranny never goes out of style)
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To: Kaiser8408a

As soon as I strt having confidence in the market again...


3 posted on 11/16/2023 5:44:56 AM PST by Fido969 (45 is Superman! )
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To: Kaiser8408a

Wait’ll the gibmedats loot Wal-Mart’s widescreens on Afro-American Friday.


4 posted on 11/16/2023 5:46:53 AM PST by moovova ("The NEXT election is the most important election of our lifetimes!“ LOL...)
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To: Kaiser8408a

all the free covid money has been spent, credit card debt maxed out and the bills are coming due.


5 posted on 11/16/2023 5:52:19 AM PST by TexasFreeper2009
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To: Kaiser8408a

I hope the average consumer tackles their cc debt rather than binge spending.


6 posted on 11/16/2023 5:52:53 AM PST by Raycpa
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To: Kaiser8408a

Amazing how close consensus estimates are to actual. This is an example of why markets are considered efficient.


7 posted on 11/16/2023 5:56:22 AM PST by Raycpa
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To: Kaiser8408a

Source article has a good meme of Janet Yellen at a bank of slot machines, laughing heartily.


8 posted on 11/16/2023 6:00:16 AM PST by NautiNurse (🇺🇸)
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To: Raycpa
I hope the average consumer tackles their cc debt rather than binge spending.

Christmas is just around the corner. It will get worse before it gets better.

9 posted on 11/16/2023 6:05:17 AM PST by unixfox (Abolish Slavery, Repeal the 16th Amendment)
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To: Raycpa

Remember Occupy Wall Street (2011)? They started running up credit cards and walking away to stick it to Banks/ Corporations, you know the ones responsible for high prices. Only suckers pay their debts. Reparations, equity and all that.


10 posted on 11/16/2023 6:05:23 AM PST by griswold3 (I cannot change the Tide but I can learn to Sail)
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To: sten

Walmart delivers. Not only durable goods, but fresh groceries too. Around here, Walmart has upgraded groceries to include prime ribeye, lamb chops, organic vegetables, etc.


11 posted on 11/16/2023 6:11:48 AM PST by NautiNurse (🇺🇸)
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To: sten
why would people buy at walmart when they could easily shop on amazon (with an endless selection) and have it delivered?

I have both Walmart+ and Amazon Prime.

I use both. For some items...tools, fiddleybits, electronics supplies...Amazon.
And others...food, sundries, home goods, etc...Walmart. Both deliver. Orders over $35 have free shipping from Walmart+.

The main reason I use Walmart+ is because of the inventory mix and most times, Walmart's prices beat the crap outta Amazon Prime. And Amazon Prime shipping is not free. Look carefully and compare and you'll see it.

12 posted on 11/16/2023 6:18:58 AM PST by Bloody Sam Roberts (The Truth is like a lion. You don't need to defend it. Let it loose and it will defend itself.)
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To: Bloody Sam Roberts

I shop at Walmart’s and Amazon’s and other web sites to give me more options to try to find items made in America. If I wind up finding something on a conglomerate website (like Walmart or Amazon) I look up that product on the manufacturer’s website and often buy directly from them.


13 posted on 11/16/2023 6:27:58 AM PST by Tell It Right (1st Thessalonians 5:21 -- Put everything to the test, hold fast to that which is true.)
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To: Tell It Right
I look up that product on the manufacturer’s website and often buy directly from them.

Same here. I do lots of research before buying anything online. Sometimes, I'll opt for hopping in the ol' buckboard and go to one of the many smaller local businesses.

14 posted on 11/16/2023 6:31:47 AM PST by Bloody Sam Roberts (The Truth is like a lion. You don't need to defend it. Let it loose and it will defend itself.)
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To: Kaiser8408a

We’re just gonna do dinner. That will be our Christmas gift to everyone. Nothing fancy either (maybe the pecan pie - I like my pecan pie...).


15 posted on 11/16/2023 6:41:02 AM PST by jeffc (Resident of the free State of Florida)
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To: Kaiser8408a

When is Pedo Joe gonna get off his ass and cancel everyone’s credit card balances? They are worthless when they are maxed out. And he needs to get the banks busy issuing credit cards to all of his new and imported illegal alien voters. They’re going to have a third world ****hole Christmas without them.


16 posted on 11/16/2023 6:42:43 AM PST by FlingWingFlyer ('Build Back Better' is a Bidenskyyyyyyism for 'we gotta get rid of all dem white peoples'.)
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To: NautiNurse

I understand in Cali Yellen went to an “In and Out”———
she thought it was a male escort service.....

She got confused when they asked her “rare, medium or well-done?”


17 posted on 11/16/2023 6:52:48 AM PST by Liz (Women have tremendous power — their femininity, because men can't do without it. Sidney Sheldon)
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To: Kaiser8408a

The Walmart in Norwalk CT is closing and being replaced by a Target. Maybe it’s just Walmart that people are getting sick of.


18 posted on 11/16/2023 7:03:10 AM PST by Dr. Thorne (The Media is the Virus.)
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To: NautiNurse

I made the mistake of doing the curbside pickup at my local Walmart last week. I had ordered a pair of flannel lined hunting pants I wanted for the next morning.

I pulled up just before 5pm. All eight spots were full. There was another four or five cars in line to get in the spots. I told the store I had arrived via the AP and got in line. After about 15 minutes I considered parking out front and going into the store to get my ONE item. I chose to wait in my vehicle. I did not get served for a total of 55 minutes. What a waste of time.

There were people picking up a full SUV/truck of groceries.
What really pissed me and a couple others were the people that pulled up from the other direction and cut the line.
I am surprised a fistfight or parking lot road rage di not break out.


19 posted on 11/16/2023 7:03:32 AM PST by woodbutcher1963
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To: Kaiser8408a

GO WOKE-GO BROKE, TARGET HAS THE SAME ISSUE, EVEN CHRISTMAS DECORATIONS ARE WOKE.

Target Caught Selling Woke Christmas Decorations

GO WOKE-GO BROKE

“Time to whip out the Glitter & Hellfire flamethrowers and rip that old world to shreds darlings,” the self-described Target corporate employee shared.

“Let’s flip that script and rewrite that narrative. This time for ~ALL Guests, ALL Humans & ALL Hearts.”

A post featuring Thompson’s announcement was shared on X, which prompted many to react to the news on the original post. One commenter asked, “lol you gonna make Targets sales tank too?” to which Thompson responded, “Yes. Yes I will make sales tank,” with heart and kissing emojis.

https://truthpress.com/news/target-caught-selling-woke-christmas-decoratio


20 posted on 11/16/2023 7:05:40 AM PST by GailA (GMOs have a new name 'BIOENGINEERED' read labels. Constitutional Conservative.)
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