In this file:
· Walmart announces free Thanksgiving dinner for everyone
· Walmart CEO: Pandemic Shopping Is Permanent
· Walmart earnings top expectations as customers’ new shopping habits send e-commerce sales soaring 79%
Walmart announces free Thanksgiving dinner for everyone
Walmart and others have teamed up to launch the Free Thanksgiving Dinner program in an effort to feed millions of American families this Thanksgiving.
KUSA/KTVD-TV/HV11 Digital (CO)
November 16, 2020
Through an exclusive promotion with Walmart, leading mobile rewards platform Ibotta, Campbell's, Butterball and Coca-Cola have teamed up to launch the Free Thanksgiving Dinner program in an effort to feed millions of American families this Thanksgiving.
Ibotta’s 2020 Thanksgiving Survey found that more than one-third of Americans will spend less on Thanksgiving this year due to tightened budgets. But despite the budget constraints, enthusiasm for Thanksgiving dinner remains sky high.
The Free Thanksgiving Dinner program hopes to make a difficult holiday season more rewarding for families everywhere by giving them a delicious meal without the financial burden.
The Walmart-exclusive items included in the Free Thanksgiving Dinner program are:
Walmart CEO: Pandemic Shopping Is Permanent
By Gina Acosta, Progressive Grocer
E-commerce trends accelerated by the global health crisis continued to boost growth at Walmart in the third quarter.
The retailer reported another stunning e-comm metric for the year, bolstering the company's view that pandemic-related shopping behaviors are here to stay. Walmart's U.S. online sales grew 79% during the period ended Oct. 31 with strong results across all channels, contributing approximately 570 basis points to comp sales.
Walmart U.S. same-store sales increased 6.4% with strength across categories such as general merchandise, health & wellness and food. Increased demand for products across multiple categories led to strong top-line and gross margin results. Transaction size and average ticket were up 1.3% and 1.9% respectively.
Walmart did not provide an outlook, but CEO Doug McMillon said he thinks the shift in shopping behaviors due to the pandemic, including the three-to-five year acceleration in e-commerce, is permanent.
“This was another strong quarter on the top and bottom line. Our associates continue to impress during this challenging year. They are working together to serve customers and communities in new, relevant ways and we’re very proud of them. We think these new customer behaviors will largely persist and we’re well positioned to serve customers with the value and experience they’re looking for," McMillon said.
When it came to grocery, Walmart said its Q3 food sales reflected broad-based strength across most categories and improved throughout the quarter; consumables sales growth was led by strength in household chemicals and paper products. Pickup and delivery services continued to experience record high sales volumes.
Total revenue in Q3 was $134.7 billion, an increase of $6.7 billion, or 5.2%. Walmart reported net income of $5.14 billion, or $1.80 per share, from $3.29 billion, or $1.15 a share, a year earlier. Excluding items, Walmart earned $1.34 per share.
Walmart subsidiary Sam’s Club also had an impressive quarter...
Walmart earnings top expectations as customers’ new shopping habits send e-commerce sales soaring 79%
o Walmart’s U.S. e-commerce sales soared by 79% in the third quarter, as customers continued to shop online during the coronavirus pandemic.
o Instead of browsing store aisles, more customers are shipping purchases to their homes, getting groceries dropped off at their doors or picking up online purchases by the curbside.
o “We think these new customer behaviors will largely persist and we’re well positioned to serve customers with the value and experience they’re looking for,” Walmart CEO Doug McMillon said in a news release.
Melissa Repko and Bertha Coombs, CNBC
Nov 17 2020
Walmart reported third-quarter earnings on Tuesday that topped Wall Street’s expectations as customers continued to shop online and sent U.S. e-commerce sales soaring by 79%.
The discounter said customers are embracing the new ways of shopping they adopted during the global coronavirus health crisis. As the holiday shopping season begins, instead of browsing store aisles, more of them are shipping purchases to their homes, getting groceries dropped off at their doors or picking up online purchases by the curbside.
Walmart did not provide an outlook, but the company’s CEO, Doug McMillon, said the popularity of the online shopping services will not fade away.
“We’re convinced that most of the behavior change will persist beyond the pandemic and that our combination of strong stores and emerging digital capabilities will be a winning formula,” he told investors on an earnings call. “Customers will want to be served in a variety of ways and we’re positioned to save them money, provide the variety of product choices they’re looking for, and deliver the experience they choose in the moment.”
And, he added, the retailer had a strong quarter, despite “an unusual and softer back-to-school season and less benefit from government stimulus spending versus the first half of the year.”
He said the rising number of Covid-19 cases across the country “reminds us we must be vigilant” and urged elected officials to work together to help small businesses.
Shares of Walmart were down slightly midmorning Tuesday.
Here’s what the company reported for the fiscal third quarter ended Oct. 31:
more, including links