- Wal-Mart (NYSE:WMT) execs painted a bright picture during the company's presentation today for the investment community.
- The fresh food business at Sam's Club was highlighted as an area of strength. It was also noted that Sam's e-commerce sales rose 27% during the first half of the year.
- Look for zero-based budgeting to start in areas of the company and for e-commerce losses to narrow.
- The company expects capex spending to be ~$11B for FY18 and FY19.
- Walmart International is expected to open about 255 new stores, including a focus on Mexico and China.
- In one of the biggest developments, Wal-Mart management said Walmart.com will feature the Jet.com smart-cart system that allows customers to find cheaper prices if they choose certain checkout and delivery options.
- Wal-Mart 2017 Investment Community Meeting webcast
- Previously: Wal-Mart update includes new buybacks, +3% growth forecast (Oct. 10)
- Previously: Wal-Mart flies to 52-week high, lifts retail peers (Oct. 10)
- Now read: Wal-Mart: Cautiously Optimistic, But Won't Buy More Until This Happens
Original article