- Wal-Mart (NYSE:WMT) posts a strategy update ahead of its annual investment community meeting today.
- “We’re combining the accessibility of our stores with eCommerce to provide new and exciting ways for customers to shop," says CEO Doug McMillon.
- McMillon plans to highlight the retailer's innovations such as one-hour delivery from stores in China, commitments to sustainability, service to communities, and investments in associates.
- On the financial front, Wal-MArt reiterates 2018 guidance and says in FY19 it expects sales to grow at or above 3%. Sales growth at Walmart U.S. eCommerce is anticiapted to be about 40%.
- A new two-year $20B share repurchase program is unfurled.
- Perhaps the most interesting reveal from Wal-Mart is its plan to add 1K online grocery locations in the U.S. and fewer than 15 Supercenters in FY19.
- WMT +1.50% premarket to $81.72.
- Source: Press Release
- Now read: Is Wal-Mart Losing To Target On Price In The Grocery Aisle?
Original article