Walmart’s stock reverses early losses as analysts welcome market-share growth in grocery

Walmart Inc.’s stock reversed early losses Tuesday, after the retailing giant beat fourth-quarter earnings estimates and raised its dividend but offered weaker-than-expected guidance for the first quarter and for fiscal 2024.

“While gross margin was down due to markdowns and mix, we encourage investors to focus on the fact that Walmart is gaining market share, which we believe is of material importance,” analysts led by Corey Tarlowe wrote in a note to Jefferies clients. “Although the fiscal-year outlook is below expectations, we see substantial opportunity for Walmart to outperform ahead.”Bentonville, Ark.–based Walmart posted net income of $6.275 billion, or $2.32 a share, for the quarter ending Jan.

See: Home Depot and Walmart slip after earnings guidance; Facebook parent Meta rises on trial of subscription tier On a call with analysts, McMillon said the company was attracting higher-income customers who are also responding to the inflationary environment. E-commerce now accounts for $80 billion in annual sales, equal to 13% of overall sales. The company also enjoyed strong holiday sales on Singles Day and from Thanksgiving through Christmas.

Chief Financial Officer John David Rainey said the company is in a similar position as in the last three years, with a great deal of uncertainty about the bigger picture.

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Nice bounce

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