Walmart CFO: Current Quarter's Comparable Sales Growth Will Be Weaker

Group 1 - Walmart's sales in the current quarter are expected to be weaker than the previous quarter, with the second quarter being described as the most challenging from a comparable sales perspective [1] - In the first quarter, Walmart reported a 3.9% increase in comparable sales, excluding fuel, which exceeded expectations [1] - Inflation was not the sole driver of Walmart's sales growth, contributing only 40 basis points, while there was mid-single-digit deflation in general merchandise and low-single-digit inflation in food and consumables [2] Group 2 - Walmart is launching a new savings event called "Walmart Deals," which will focus on discounts for school-related items and high-cost electronics, starting July 8 [3] - The upcoming savings event follows the recently concluded Walmart+ Week and aims to compete with Amazon's Prime Day, reflecting consumer trends towards seasonal sales [3] - Walmart's scale allows it to offer lower prices on essential goods, enhancing its competitive position in the retail market [3]