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The multinational retail giant Walmart is likely to enjoy the slight lowering of inflation. CEO Doug McMillion indicated that inflation on several items are decreasing and likely to benefit the retail stores. Although this does not have relation with overall inflation, it’s just applicable for some of the specific sectors.
Walmart CEO Cites Inflation Curbing
In a recent interview, Walmart’s chief executive officer Doug McMillon said that discretionary merchandise is witnessing a fall in inflation. He cited the holidays to come ahead and increase shopping to benefit from the recent price drops. These items included toys, sporting goods and apparel, etc.
McMillon cited the inflation data of October month which noted that toy prices were 3.1%, sporting items were 3% and apparel remained 4.1% up. However, during the same time, the overall inflation rate in the United States was at 7%. This showcases that the aforementioned items are beating inflation.
Although these items are also likely to witness price rise, not aggressively like others. This will be the scenario since the stores had miscalculated the consumer demand and excessively filled the inventory. And now putting lucrative discounts to release the items and goods.
Walmart Stock Price Movement
Walmart Inc. (NYSE: WMT) is scheduled to distribute dividends despite the fluctuations in stock price. The upcoming dividend is expected to come around 0.56 USD. Currently the dividend yield trailing twelve months (TTM) is around 1.47%. A high dividend is likely to push Walmart stock price upwards. Currently the stock price is trading at 149.89 USD after a slight drop of 1.16% in the last 24 hours. This is not quite behind its price of 160.7 USD mark, the all time high price for WMT stock.
Walmart stock price has showcased an impressive growth of 21.50% in the last six months while it is up by over 8% year over year.
Impressive Q3 Earnings Release
The 40.6.38 billion market company released its Q3 2022 earnings released during mid-November. It reported the company’s performance better than expected for those three months. Clearly it reflected over in the numbers and likely to reflect over Walmart stock price.
Overall revenue in the third quarter was 152.81 billion USD, which remained up by 8.7% from the last year and also beat the estimate of 147.67 billion USD. In addition, it also updated the outlook for the earnings per share (EPS).
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
