About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Walmart shouldn’t count on keeping the affluent customers it has recently gained, the retailer’s former U.S. CEO Bill Simon said Thursday (May 16).Speaking on CNBC’s Fast Money, Simon said that when the economic situation picks back up, affluent shoppers will go back to retailers that provide a premium experience, CNBC reported Thursday.Currently, Simon said, factors like food inflation have led these shoppers to go to Walmart for convenience, cost and assortment. But as inflation recedes over the next two ...

Before the opening bell yesterday, Walmart (WMT) reported robust first-quarter fiscal 2025 results, wherein it surpassed both earnings and revenue estimates. The megaretailer offered upbeat guidance for the fiscal year, spreading huge optimism and signaling a resilient consumer environment.This pushed WMT shares to a record high. Investors seeking to tap the opportune moment should consider ETFs having the highest allocation to the world's largest brick-and-mortar retailers. These include Consumer Staples S ...

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Retail giant Walmart – a key indicator of how the consumer is doing – is still gaining with higher-income shoppers as higher prices continue to restrain household budgets. "We're seeing higher engagement across income cohorts, with upper-income households continuing to account for the majority of the share gains," CFO John David Rainey told analysts on a Thursday earnings call. The company defines the income groups roughly as $50,000 and below, $50,000 to $100,000, and $100,000 and above. WALMART CFO SAYS ' ...

Amazon and Walmart may be setting their sights on high-income consumers, but as the two retail giants compete for shoppers’ spending, they are working hard not to lose their lower-income customers in the process.Amazon, for its part, announced Wednesday (May 15) the introduction of Amazon Access, a platform aimed at providing easier and more affordable shopping experiences, particularly for lower-income customers. This initiative consolidates various programs, discounts, and features geared toward enhancing ...

Higher-income consumers may be creating a frothy situation at Walmart.Even though affluent shoppers helped drive the retailer's latest beat on quarterly results, former Walmart U.S. CEO Bill Simon warns they'll be hard to keep."The Walmart experience is better than it used to be, but it's still not a premium experience. Walmart is built on convenience, cost and assortment. Not on service," he told CNBC's "Fast Money" on Thursday. "As the economic challenges abate... service will become more important than c ...

Walmart’s grocery business is reportedly benefiting from the high price of fast food.The retailer’s chief financial officer, John David Rainey, told CNBC Thursday (May 16) that it’s “roughly 4.3 times more expensive” to buy a meal at a quick-service restaurant (QSR) than it is to purchase the ingredients needed to make a meal at home.“And that’s benefiting our business,” he said, per the report.Rainey added that the gap between the two prices is widening because some grocery items are holding their price or ...

Key TakeawaysThe S&P 500 slipped 0.2% on Thursday, May 16, 2024, failing to build on the record high it printed in the previous session.Deere & Co. shares dropped after the heavy equipment manufacturer lowered its quarterly profit forecast, citing changes in the agriculture industry. Walmart posted better-than-expected quarterly results, driven by international and e-commerce strength, and shares of the retailer soared. Major U.S. equities indexes ticked lower on Thursday, retreating from the all-time highs ...

TROY, OH - MAY 11: An employee restocks a shelf in the grocery section of a Wal-Mart Supercenter ... [+] May 11, 2005 in Troy, Ohio. Wal-Mart, America's largest retailer and the largest company in the world based on revenue, has evolved into a giant economic force for the U.S. economy. With growth, the company continues to weather criticism of low wages, anti-union policies as well as accusations that it has homogenized America's retail economy and driven traditional stores and shops out of business. (Photo ...