The Briefing Room
General Category => Economy/Business => Topic started by: Elderberry on October 10, 2017, 09:19:54 pm
-
Reuters by Sruthi Ramakrishnan, Sayantani Ghosh 10/10/2017
Wal-Mart Stores Inc (WMT.N) on Tuesday forecast a 40 percent rise in U.S. online sales next year as it ramps up competition with Amazon.com Inc (AMZN.O), boosting shares of world’s biggest brick-and-mortar retailer to the highest in more than two years.
Wal-Mart also forecast overall net sales would rise by at least 3 percent in the year ending January 2019, and said it would buy back $20 billion of its shares over the next two years.
Wal-Mart shares rose 4.5 percent to close at $84.13, the top driver of gains in the Dow Jones Industrial Average .DJI and S&P 500 index .SPX.
“We are going to lean into places like technology, e-commerce, international stores,” Wal-Mart Chief Financial Officer Brett Biggs said at the Bentonville, Arkansas company’s annual investor meeting which was webcast.
More: https://www.reuters.com/article/us-walmart-outlook/wal-mart-launches-20-billion-buyback-plan-idUSKBN1CF1E7 (https://www.reuters.com/article/us-walmart-outlook/wal-mart-launches-20-billion-buyback-plan-idUSKBN1CF1E7)
-
I'm thinking they're probably not going to reach that target.
-
Meanwhile, after acquiring a brick footprint from Whole Paycheck, Amazon continues to innovate. Soon, at least for Prime members, customers will be able opt for self-delivery at no extra charge. Let's see Wally Mart compete with that!
-
I foresee Ed McMahon rising from the grave to award me with a large Publishers Clearing House check next year.
(http://www.mrtakeoutbags.com/blog/wp-content/uploads/2015/11/2015-11-18_1157.png)
Looks like it is going to be aces all around in 2018.