×
90 795
Fashion Jobs
BLOOMINGDALE'S
Manager, Sales - Handbags/Luggage/Womens Shoes
Permanent · Hackensack
BATH & BODY WORKS
Senior Manager, Content Production
Permanent · REYNOLDSBURG
HUDSON'S BAY
General Manager, The Wellery in Brookfield
Permanent · NEW YORK
HBC
General Manager, The Wellery in Brookfield
Permanent · New York
MACY'S
Manager, Weekend Operations (Fri to Sun, 6:30am to 6:30pm)
Permanent · Columbus
MACY'S
Asset Protection Detective, Castleton - Full Time
Permanent · Indianapolis
MACY'S
Manager, Merchandise Execution
Permanent · San Francisco
MACY'S
Asset Protection Officer, Columbus - Full Time (2840)
Permanent · Columbus
MACY'S
Asset Protection Detective, Santa Anita - Full Time
Permanent · Arcadia
MACY'S
Asset Protection Detective, Mall at Greece Ridge Center - Full Time
Permanent · Rochester
MACY'S
Inventory Control Processor, Chicago - Full Time (3200)
Permanent · Minooka
MACY'S
Asset Protection Captain, Antelope Valley - Full Time
Permanent · Palmdale
MACY'S
Beauty Account Coordinator - Clinique
Permanent · Alpharetta
MACY'S
Asset Protection Detective, Florida Mall - Full Time
Permanent · Orlando
MACY'S
Asset Protection Detective, Roseville Galleria - Full Time
Permanent · Roseville
MACY'S
Manager, Asset Protection - Multi Store
Permanent · Austin
MACY'S
Manager, Merchandise Execution
Permanent · Sarasota
ATHLETA
General Manager - The Gardens Mall
Permanent · Palm Beach Gardens
RAG & BONE
Sales Supervisor (Full -Time) - Georgetown Women's
Permanent · Washington
RAG & BONE
Sales Supervisor (Full -Time) - Atlanta
Permanent · Atlanta
CLARKS
Junior Finance Analyst
Permanent ·
CLARKS
Performance Marketing Manager
Permanent · NEEDHAM
By
Reuters API
Published
Nov 17, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Walmart sets aside supply chain woes to lift sales, profit forecasts

By
Reuters API
Published
Nov 17, 2021

Walmart Inc on Tuesday raised its annual sales and profit forecast in anticipation of soaring demand during the crucial holiday season even as global supply chain woes hit its margins in the third quarter.




Major retailers including Amazon.com have been struggling to bring products into the United States ahead of the peak shopping season due to shipping logjams, shuttered factories in parts of Asia and a scarcity of raw materials in the recent months.

Walmart, which has been chartering its own vessels to move goods, said U.S. inventory was up 11.5% ahead of the busy festive season.

"We have the people, the products, and the prices to deliver a great holiday season for our customers and members," Chief Executive Officer Doug McMillon said in a statement.

The bold forecast from Walmart come in contrast to rival ecommerce giant Amazon, which issued an underwhelming fourth-quarter outlook and warned of higher costs during the holiday period to weigh on a surge in demand for online shopping.

Walmart said it expects full-year U.S. same-store sales to be more than 6% higher than its prior forecast of a 5% to 6% rise. Adjusted profit is expected to be around $6.40 per share up from a previous range of $6.20 to $6.35.

In the third quarter, sales at U.S. stores open at least a year rose 9.2%, excluding fuel, benefiting from higher grocery demand and people buying more at stores. Analysts had estimated a gain of 7.04%, according to Refinitiv data.

However, gross profit rate decreased 42 basis points due to higher supply chain costs.
Walmart's total revenue grew by a better-than-expected 4.3% to $140.53 billion and on an adjusted basis it earned $1.45 per share.

The company's stock was up about 1% at $148.24 in premarket trading.
 

© Thomson Reuters 2022 All rights reserved.