Retail giant Walmart (WMT) saw overall same-store sales grow by 5.5% as it reported a third quarter earnings beat: $169.59 billion in revenue ($167.5 billion expected) and adjusted earnings of $0.58 per share ($0.53 expected). The company also raised its full-year outlook in this print.
Walmart CFO John David Rainey joins the Morning Brief team and Yahoo Finance executive editor Brian Sozzi for a conversation on the retail chain’s earnings beat as more consumers across income brackets search for value.
“And I think what’s what’s notable about this, Brian, is that we’re providing convenience… convenience matters to everyone, irrespective of what level of income that you make,” Rainey elaborates. “And so that’s something that people haven’t historically thought of Walmart for. We’ve always been known for low prices and value, but now we can provide a lot of what they want every day to their homes or allow them to come to curbside to pick up those items.”
The Walmart executive acknowledges that while “pocketbooks are still stretched” the retailer is working to enable customers to find more value in food purchases, especially as they spend less on discretionary items and the threat of future Trump tariffs looms.
“We’ve been living under a tariff environment for seven years, so we’re very accustomed to that. I’ll remind you that two-thirds of the items that we sell are made grown or assembled in the United States,” Rainey says. “So we’re always going to look to work with our suppliers or use our own private brand assortment to try to bring down prices for customers.”
Rainey also goes on to comment on Walmart’s outlook for online sales trends and the holiday shopping season.
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
This post was written by Luke Carberry Mogan.
