|Bid||0.00 x 1100|
|Ask||122.58 x 1100|
|Day's Range||121.03 - 124.49|
|52 Week Range||100.60 - 133.38|
|Beta (5Y Monthly)||0.32|
|PE Ratio (TTM)||23.60|
|Earnings Date||Aug. 18, 2020|
|Forward Dividend & Yield||2.16 (1.74%)|
|Ex-Dividend Date||Aug. 13, 2020|
|1y Target Est||128.56|
John Furner, Walmart U.S. CEO, joins Yahoo Finance's The First Trade to discuss the company's recent earnings report, a jump in online sales amid the coronavirus pandemic, demand and supply of certain products including dairy and meat, the current state of Walmart+ and more.
When it comes to the discussion of major retailers, Target (NYSE: TGT) sometimes becomes an afterthought. Particularly with regard to the COVID-19 pandemic, retail analysts have tended to focus on Target's principal competitors, Walmart, Costco, and Amazon. This probably helped Target stock over the past few months as a run on consumer staples helped to drive revenue increases.
Walmart (NYSE: WMT) shoppers can now browse pre-owned apparel when they visit the retailer's e-commerce site. "We are absolutely seeing this as an opportunity to support a bigger portion of our customers' closets," a Walmart executive told CNBC. Walmart's e-commerce business was a standout performer in its last quarterly report.
Retail giant Walmart (NYSE: WMT) had a fabulous fiscal first quarter, with sales rising 9%, and online sales up 74%. Probably the biggest revelation from Walmart's report, however, was this: Racking up all those sales in the midst of a pandemic cost Walmart $900 million in cash bonuses and pay raises, safety equipment costs, and expenses related to sanitizing and otherwise making its stores safe to shop in. In a recent earnings call, Walmart CFO Brett Biggs said it was a "reasonable assumption" that Walmart would spend another $900 million on COVID-19-related expenses this quarter as well.
(Bloomberg) -- Bonnie Russolillo is one of millions of Americans forced by the pandemic to buy groceries online. The experience was better than she expected—the broccoli crowns were perfect and she was mostly pleased with the substitutions for out-of-stock items.But here’s the bad news for companies that have spent billions building web supermarkets: Russolillo and shoppers like her prefer to walk the aisles themselves. “If I feel it’s safe, I’d much rather do my own shopping,” says Russolillo, who is 62 and lives on Long Island. “It’s much different than going online and looking at pictures.” Online grocery sales have surged as much as 200% this year, according to Earnest Research, part of a broader boom in home cooking now that thousands of restaurants are closed. The $840 billion grocery industry has been one of the few bright spots amid a pandemic that has infected about 1.7 million Americans, killed almost 100,000 and crushed the economy. Walmart Inc., Amazon.com Inc. and startup Instacart Inc. are all reaping the rewards, and some e-commerce prognosticators say the online grocery industry has finally hit an inflection point promised for decades.But how much of that spending shift will stick is guesswork. It’s difficult to predict lasting behavior changes from a fear-fueled surge—growth peaked more than a month ago. Problems with online food shopping also persist. The operations are expensive to run, and limits on capacity and inventory abound right now with supply chains upended. The shopping experience can be clunky and confusing, especially for older consumers. And one thing the pandemic hasn’t changed is that Americans still like to squeeze their cantaloupes and eyeball their rib-eyes.Russolillo and her husband Ray learned the hard way that ordering produce online is a lot trickier than buying a box of cereal or a bag of dog food. “The picture showed a bunch of bananas. So we ordered what we thought was one bunch of bananas,” Ray says. “The delivery came and we got one banana. Who buys just one banana?”In the pandemic’s early days it seemed as though buying online groceries would become routine—or at least pick up a sizable number of converts. “The customer demand we expected over the next two-to-four years has happened in the last two-to-four weeks,” Instacart Chief Executive Officer Apoorva Mehta said in early April, a time when most Americans were under strict stay-at-home orders. Visits to Walmart’s online grocery site that month soared more than fourfold, according to data tracker SimilarWeb, fueling the retailer’s fastest quarterly sales growth in almost 20 years. But even in cities hardest hit by the pandemic, more than 7 in 10 people have continued to visit stores for groceries and other essentials, according to surveys by the consulting firm McKinsey & Co. In states with more relaxed restrictions, the figure is more than 8 in 10. Over one-third of shoppers say they’ll decrease their use of web groceries or stop ordering food online altogether when shelter-in-place restrictions ease in their area, according to a survey conducted for Bloomberg by CivicScience.“We’ve already hit the high water mark and people are getting back to some normal habits,” says Kurt Jetta, founder of research firm TABS Analytics, who has been studying the grocery industry for 25 years. “People really like going to the grocery store.”Consider Stacy Yore in Boca Raton, Florida. To call her a discerning grocery shopper would be an understatement. She likes her bananas on the small side with just a touch of green. She knows marbling enhances steak’s flavor, but prefers to pick out a lean cut herself for health reasons. And grapes, don’t get Yore started: “They have to be a particular shade of yellowish green. If they’re just green they’re sour but if they’re yellowish green they’re ripe and sweet and delicious.”“The delivery came and we got one banana. Who buys just one banana?”Despite the pandemic and the needs of her aging mother, she still goes to the store because she doesn’t trust Amazon, Instacart or Walmart to get it right. “If someone brought me something that wasn’t ripe I would not be happy,” Yore says.She’s not alone. Among those who use online grocery pickup services, only half include produce in their orders primarily due to concerns over quality, according to Field Agent, an industry researcher. Fresh food is the thing that consumers are most likely to buy in physical stores exclusively once the pandemic subsides, according to research from Evercore ISI. Items like bottled water, pet food and other bulky, non-perishable household staples have better prospects online, due to the hassle of lugging them out of stores.Groceries are a critical battleground in the retail wars. Walmart started out selling only general merchandise but embraced groceries to lure shoppers into its stores regularly. Amazon has pushed into grocery over the past decade as a way to reach the delivery frequency needed to offset the billions it spends on shipping.The pandemic poured rocket fuel on grocery delivery as stores curtailed hours and customer counts, and who cares when the truck shows up if we’re home all day? Even the founder of notorious dot-com flame-out Webvan is now back for another stab at the business.Limited demand and the high cost of last-mile delivery serve as the main obstacles for successful online grocery ventures. It works in densely populated cities like New York because couriers there can make multiple deliveries per hour. The suburbs are much trickier, and volume is key to bringing the costs down.Walmart, the nation’s biggest grocer, has largely avoided the unfavorable economics of home delivery by focusing on curbside pickup, now available at more than 3,600 of its 4,750 U.S. stores. The free service appeals to suburban and rural consumers because they can schedule it when convenient, rather than being beholden to a random delivery window.Despite Amazon’s dominance in e-commerce, fresh food is the one area where Walmart maintains a clear edge over its rival. More than half of purchases made on Walmart’s website were groceries in the first quarter, according to researcher M Science, up from 38% at the end of last year. Indeed, Walmart has been so successful with groceries that profit margins have suffered, so the company recently merged its food-shopping app with the main app so customers can put a few higher-margin non-food items in their carts next to the bananas and bread.As retailers jostle, the next few months will be critical in assessing the lasting effects of the pandemic on shopping habits. Recent data is muddied by the stockpiling of late March and early April, as well as government stimulus checks that buttressed consumer spending as millions of jobs evaporated. Signs of strain are emerging: Shoppers used credit cards to pay for 46% of grocery transactions in April, up from 27% in December, suggesting people have less money to pay for basic needs, says Ted Rossman, an analyst at Bankrate.com.The key question is the same as when Webvan went bust 20 years ago: Will there be sufficient demand to justify the costs?“What drove the rapid increase in online grocery’s penetration? It was fear—fear of catching the virus,” says David Bishop, a partner at retail sales and marketing firm Brick Meets Click. “Anyone who is rooting for online to stay at this rate, unfortunately, is rooting for the virus.” For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Reliance Industries Ltd. is working with banks on early preparations for an overseas listing of its digital and wireless business, people with knowledge of the matter said, after the unit attracted more than $10 billion of investment in a month.The conglomerate backed by Mukesh Ambani, Asia’s richest man, is preparing Jio Platforms Ltd. for an initial public offering outside of India, the people said. The offering could happen in the next 12 to 24 months and the company hasn’t decided on a listing venue, one of the people said. There’s also no final decision on timeline and size, according to the people, who asked not to be identified as the discussions are private.KKR & Co. last week became the latest investor piling into Jio Platforms after Ambani sealed deals with Facebook Inc., Silver Lake Partners and General Atlantic recently. An overseas listing could potentially give the digital business a higher valuation and allow existing investors to exit, the people said.Read: Asia’s Richest Man Lures $10 Billion of Investment in WeeksA representative for Reliance Industries declined to comment.Jio Platforms combines Reliance’s digital assets with its wireless carrier, Reliance Jio Infocomm Ltd., into a holding company aimed at becoming a top e-commerce and payments operator in India’s vast consumer market.Investors are betting on Jio’s access to India’s huge consumer market, and its potential to shake up traditional industries in the country -- from retail to education and payments -- with its technology. India is the only major open Internet market where foreign technology giants such as Amazon.com Inc., Walmart Inc. and Google’s parent Alphabet Inc. can compete for market share.Started in 2016, Reliance Jio is now India’s largest wireless carrier. The operator stormed past rivals by building a nationwide 4G network, then offering free calling and data services at prices established competitors with older networks could not match without losing money. Ambani was weighing an IPO of Reliance Jio three years ago after a $31 billion investment spree, Bloomberg News reported in 2017.Shares of Reliance Industries have fallen about 5% this year, giving the conglomerate a market value of about $120 billion.(Updates to add Reliance’s share performance in the last paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Chinese delivery firm Dada Nexus Ltd will launch the investor roadshow for its U.S. initial public offering as early as Wednesday, according to people familiar with the matter, braving U.S.-China tensions over Chinese companies pursuing their stock market debut in New York. The U.S. Senate passed legislation last week that could prevent some Chinese companies from listing on U.S. exchanges unless they follow standards for U.S. audits and regulations. Nasdaq Inc also tightened listing restrictions for companies from China and other countries.
Don't expect safety measures will fall by the wayside at Target once life gets back to some form of normal after the COVID-19 pandemic. Here's what Target's chairman and CEO Brian Cornell told Yahoo Finance.
Target Chairman and CEO Brian Cornell weighs in on the state of the retailer amidst the coronavirus pandemic in a Yahoo Finance interview.
U.S. pharmacy chains are preparing a big push for flu vaccinations when the season kicks off in October, hoping to curb tens of thousands of serious cases that could coincide with a second wave of coronavirus infections. CVS Health Corp, one of the largest U.S. pharmacies, said it is working to ensure it has vaccine doses available for an anticipated surge in customers seeking shots to protect against seasonal influenza. Rival chain Rite Aid Corp has ordered 40 percent more vaccine doses to meet the expected demand.
Dividend stocks are a great option for a retirement account since you're earning income simply for holding shares. The coronavirus pandemic caused many companies to cut or cancel dividends. While other businesses saw substantial revenue declines from the current economic slowdown, there were at least three that delivered revenue and dividend increases in these tough economic times.
While it's not the end-all indicator of a company's staying power, a company that has consistently raised its dividend for decades is likely one that possesses a durable competitive advantage that allows it to grow its revenue and profits over time. Here are two stocks that have delivered a good balance of capital appreciation and rising dividend payments for more than 25 years. Walmart (NYSE: WMT) currently pays a dividend yield of 1.72%.
Back in late March, I outlined the reasons why I purchased shares of Walmart (NYSE: WMT) and Target (NYSE: TGT) as the economic lockdown to bring COVID-19 to heel got under way. Much has changed during the last two months, and migrating to e-commerce will continue to be a top priority for Walmart and Target as they play catch-up to Amazon (NASDAQ: AMZN). The first quarter (February to April 2020 for Walmart and Target) was a banner moment for both big box stores.
(Bloomberg) -- Reliance Industries Ltd. has started testing its online grocery shopping portal across India, still under a nationwide lockdown to control the spread of the coronavirus.JioMart is now delivering in more than 200 cities, Damodar Mall, the chief executive officer of Reliance Retail’s grocery business said in a tweet. JioMart last month started a pilot project serving users in three neighborhoods surrounding Mumbai.Read here: Ambani Tests WhatsApp-Backed Online Store in Locked-Down IndiaThe soft launch of JioMart takes Reliance Chairman Mukesh Ambani, also Asia’s richest man, one step closer to taking on Amazon.com Inc. and Walmart Inc.’s Flipkart in an e-commerce market that KPMG says is likely to grow to $200 billion by 2027.A Reliance spokesperson declined to comment on the JioMart launch.The JioMart shopping app is available via Facebook Inc.’s WhatsApp, which in India has about 400 million users. Facebook has said it expects the partnership with JioMart will help make WhatsApp the primary way small businesses connect with customers.New York-based KKR & Co. on Friday became the latest private equity firm to invest in Jio Platforms Ltd., the digital services holding company controlled by Reliance. KKR will pay 113.7 billion rupees ($1.5 billion) for a 2.3% stake in Jio Platforms.Ambani has been selling stakes in Jio Platforms as he tries to bring Reliance’s net debt of more than $20 billion down to zero before March 2021. Reliance wants to shift away from oil and petrochemicals toward faster-growing consumer businesses.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Amazon (NASDAQ: AMZN) has been forced to delay its Prime Day shopping holiday, typically held in mid-July, as it faces an unexpected surge in demand. With the coronavirus pandemic leading to more online shopping, Amazon has had to make several moves to limit the sale of items it doesn't deem essential. The ultimate marketing event for Amazon is Prime Day.
(Bloomberg) -- South Africa’s Naspers Ltd. and an investor group backed by German publisher Axel Springer SE are among suitors that submitted bids for EBay Inc.’s classified-advertising business, according to people familiar with the matter.Axel Springer teamed up with KKR & Co. for its offer, according to the people, who asked not to be identified because the information is private. Online classifieds company Adevinta ASA also made a bid for the unit by this week’s deadline, the people said. A consortium of Blackstone Group Inc., Permira and Hellman & Friedman has also been pursuing the business, the people said.The unit could fetch $8 billion to $10 billion, according to one of the people. EBay could decide as soon as next week which suitors advance to the next round, the people said.EBay shares rose 2.3% in New York Friday, valuing the company at about $30.5 billion.A potential sale of EBay’s classifieds unit could rank among the largest deals in Europe involving private equity firms this year. EBay is seeking a sale of the business at a time when market turmoil has hampered financing for leveraged buyouts, forcing companies to put a number of bidding processes on hold. Walmart Inc. paused the sale of a majority stake in its U.K. grocery chain Asda to focus management’s attention on running the business amid unprecedented spikes in demand driven by the coronavirus.Representatives for EBay, Adevinta, Axel Springer, Blackstone, KKR, Naspers and Permira declined to comment. A spokesperson for Hellman & Friedman didn’t immediately respond to a request for comment.EBay said in February it was in talks with multiple parties about a sale of the business and expected to update investors by the end of the first half. While the San Jose, California-based company reported better-than-expected sales in the first quarter, the classifieds unit dragged on results as the Covid-19 pandemic forced the closure of car dealerships.EBay’s classified business has attracted interest from several strategic and private equity firms, Dealreporter and The Wall Street Journal have previously reported, citing unidentified people. Permira partially owns Polish online auction site Allegro. Hellman & Friedman is a backer of digital car marketplace Autoscout24 GmbH.E-commerce group Naspers, Africa’s largest company by market value, is seeking to boost its portfolios in classifieds, food delivery and digital-payments businesses as well as education, Chief Executive Officer Bob Van Dijk said in an interview this month. The company acquires online companies around the world through Amsterdam-listed Prosus NV, which the company spun off in September last year.German publisher Axel Springer has ramped up its hunt for deals to accelerate a shift into digital media since agreeing to go private with the help of KKR last year.Norway’s Adevinta was spun off of Scandinavian media conglomerate Schibsted ASA last year with the goal of expanding in the global online classified market.(Updates with details on Axel Springer and Adevinta in last two paragraphs)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
U.S. stock indexes moved in a flat-to-low range on Friday as investors gauged Sino-U.S. tensions amid continued uncertainty over the pace of economic recovery from the coronavirus. President Donald Trump's warning on Thursday that the U.S. would react strongly to China's plan for a national security law in Hong Kong raised concerns over Washington and Beijing possibly reneging on their Phase-1 trade deal. The rhetoric knocked Wall Street off multi-month highs, although the main indexes were still set to add between 2.8% and 3.1% for the week on optimism over a vaccine and the easing of virus-related curbs.
Amazon has come under persistent fire from both sides of the political aisle for its market dominance, employment policies — and especially its tax strategies.