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Economy
Walmart raises earnings forecast for year after jump in quarterly sales
2019-08-15
WASHINGTON (Reuters) - U.S. retailer Walmart Inc (WMT.N) reported an estimate-beating jump in second-quarter U.S. comparable sales on Thursday as shoppers boosted purchases at its stores and websites, sending its shares up 5% in premarket trading.

Walmart raised its earnings expectations for the year after recording 20 quarters, or five straight years, of U.S. growth, unmatched by any other retailer.

The prices of some items sold by the retailer have climbed due to tariffs on Chinese imports, but the company is managing that pressure by negotiating with suppliers and sourcing from alternate supply bases, Chief Financial Officer Brett Biggs told Reuters in an interview.

U.S. President Donald Trump raised tariffs on $200 billion of Chinese imports to 25% from 10% earlier this year, a move that has begun pushing up prices of thousands of products including clothing, furniture and electronics.

Posted by:Besoeker

#5  Lower income taxes funded by higher tariffs is an excellent move and the obliviously economically superior choice.
Posted by: Bright Pebbles   2019-08-15 15:35  

#4  It's also in no objective way bad for American consumers to become more value conscious. Purveyors of overpriced crap may choose to differ, as is their right. Here's hoping the entertainment industry is hardest hit.
Posted by: M. Murcek   2019-08-15 10:57  

#3  So? If they are paying those higher prices, it means that the US government is getting a large percent of that money (10-25 percent, depending) and also means that if the trade war continues (it will) Walmart will grow used to lower profit margins, which is generally a good thing, since the retail industry has been selling cheap crap for dramatic markups for decades. It's also a sign of a generally strong economy that retail is doing well.
Posted by: Vernal Hatrick   2019-08-15 10:47  

#2  Still chinese crap bought from distributors at higher prices.
Posted by: Skidmark   2019-08-15 10:33  

#1  ....the company is managing that pressure (Pres. Trump Chinese Tariffs) by negotiating with suppliers and sourcing from alternate supply bases.

Complex polynomial algorithms/logic involved. I may never fully understand it.
Posted by: Besoeker   2019-08-15 08:34  

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