Strong sales, profit from Walmart on cusp of holiday season

[George II]

Source: Associated Press

By ANNE D'INNOCENZIO 47 minutes ago

NEW YORK (AP) — Walmart topped almost all expectations in the third quarter, an encouraging sign for the upcoming holiday shopping season already beset by snarled supply chains and rising costs.

The Bentonville, Arkansas, company also raised its full-year earnings guidance and shares rose before the opening bell Tuesday.

It did not escape some of the supply chain issues that have settled across almost every economic sector. Consolidated gross profit rate took a hit primarily due to increased supply chain costs, the company said, in addition to other issues.

In addition to rising costs for shipping and goods, Walmart is also spending more on wages for its workers. The company is chartering vessels to ensure that store shelves are stocked for the holidays.

Read more: https://apnews.com/article/walmart-earnings-ad6d5e91ecc880ce7f187a1a7a0acd5c

[VarryOn]

1. As a shareholder, I like!!! Nt

[jimfields33]

2. Me too. Had their stock since 1995. Very happy!

[Steelrolled]

5. I don't own individual stocks put I imagine I have plenty of Walmart

in my ETF index funds. This news bodes well for the retail market in general, as in "a rising tide lifts all boats".

[George II]

6. We have very little invested in "Wall Street", but in our one 401k account (Honeywell retirement)...

...I'm sure there are some Walmart shares.

[Skittles]

3. this will upset repukes

Christmas is supposed to be ruined!

[maxsolomon]

4. But

sUpPlY cHaIn

[Farmer-Rick]

7. Well, that's a relief

Couldn't have the billionaire Waltons, conservative funders of forced pregnancy, not make money after a deadly pandemic.

Too bad most of their customers live in poverty, with unwanted babies to feed, in an oligarchy thanks to the Walton's wealth.

Capitalism, doing what it does best, consolidating our national wealth in the hands of a few awful people.

[yaesu]

9. I couldn't have said it better nt

[George II]

10. One of the biggest owners of Walmart stock is Vanguard, who has about 25 million individual....

...investors.

I'm pretty sure there aren't many billionaires in that group and in fact probably not too many millionaires.

My wife had a $10,000 Vanguard account, she's not an oligarch.

As a matter of fact, even Senator Sanders had four accounts with Vanguard, meaning he's likely to have owned Walmart stock!

[Farmer-Rick]

11. Yeah the Waltons got that covered too.

"Walmart is not owned by hedge funds. Walton Enterprises, LLC is currently the company's largest shareholder with 36% of shares outstanding. With 11% and 4.7% of the shares outstanding respectively, Walton Family and The Vanguard Group, Inc. are the second and third largest shareholders"

https://www.google.com/amp/s/www.nasdaq.com/articles/heres-what-walmart-inc.s-nyse%253Awmt-shareholder-ownership-structure-looks-like-2021-10-22%3famp

Nice way for them to hide their controlling shares.

"The Waltons' wealth comes from their inherited, controlling stake in Walmart. While Walmart workers live in poverty, the Waltons rake in billions every year from the company in dividends and sales of their Walmart shares. ... This year, the Waltons will receive an estimated $3.2 billion in Walmart dividends."

http://changewalmart.org/how-rich-are-the-waltons/#:~:text=The%20Waltons'%20wealth%20comes%20from,sales%20of%20their%20Walmart%20shares.&text=This%20year%2C%20the%20Waltons%20will,%243.2%20billion%20in%20Walmart%20dividends.

I kinda doubt your wife gets billions from her shares.

See how generous the oligarchs are? They even allow the unwashed masses to buy some stocks and make money only when they sell their stock at just the right time. While the oligarchs get dividends, lots and lots of dividends.

And by allowing poor people with extra money to buy the filthy rich's corporations' stocks, they can pretend everyone is able to reach their hights of wealth. It's all propaganda.

[former9thward]

12. No one is pretending to "reach their heights of wealth"

And no one says that. Stocks allow people who invest over a long period to have their later years and retirement comfortable. People don't invest in stocks thinking they can get as rich as Gates, Buffett or the Walton's. That is not propaganda, its reality.

[Farmer-Rick]

14. Many Americans do think that they will become very wealthy

And many of them think they can do it thru stocks. Even though, unlike the Waltons, they weren't given controlling shares in a mega store that mostly sells Chinese products and pay their workers crap.

"Fully two out of three millennials believe that they will become wealthy in the future."

https://www.google.com/amp/s/www.marketwatch.com/amp/story/millennials-are-delusional-about-how-rich-theyre-going-to-be-2018-12-06

Yes, the oligarchs actively promote that lie to keep the masses subservient and working.

[yaesu]

8. Oh boy, the Waltons are even more filthy rich, big news, a really big shoooow!

I haven't set foot in a local business killing walmart in years .

[Farther]

13. Me neither

I try to put my money where the better angels are.

[Initech]

15. So why doesn't Biden get credit for this?

Instead he gets trashed for bullshit like critical race theory and vaccine mandates. Argh.