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Walmart CEO Doug McMillon to retire.
Youtube· 2025-11-14 13:27
All right, let's take a look at shares of Walmart. Right now, they are off by three and a quarter percent because the company is just announcing that Doug McMillan, the chairman and CEO, is going to be retiring. He's stepping down from the company uh where he has been in charge for more than 12 years.During that time, Doug McMillan has more than quadrupled Walmart's market cap. He's also set the company up for continued growth. He's been seen as somebody who is not only a stalwart leader but also a a vision ...
Walmart CEO Doug McMillon to Retire
WSJ· 2025-11-14 13:15
John Furner will succeed Doug McMillon as president and chief executive of the retail giant. ...
Walmart CEO Doug McMillon to retire in January
CNBC· 2025-11-14 13:11
Core Insights - Doug McMillon, CEO of Walmart Inc., spoke at the 2024 CES event in Las Vegas, highlighting the company's strategic initiatives and innovations in retail technology [1] Company Overview - Walmart is focusing on enhancing customer experience through technology integration and digital transformation [1] - The company aims to leverage data analytics and artificial intelligence to optimize supply chain management and inventory control [1] Industry Trends - The retail industry is increasingly adopting advanced technologies to meet changing consumer demands and improve operational efficiency [1] - There is a growing emphasis on sustainability and ethical sourcing within the retail sector, aligning with consumer preferences [1]
Walmart CEO Doug McMillon to retire, insider John Furner named top boss
Reuters· 2025-11-14 13:09
Walmart said on Friday that CEO Doug McMillon will retire next year and will be replaced by insider John Furner as the new top boss. ...
Walmart Announces John Furner as President and Chief Executive Officer
Businesswire· 2025-11-14 13:04
Core Points - Walmart Inc. has announced the appointment of John Furner as the new President and Chief Executive Officer, effective February 1, 2026, succeeding Doug McMillon, who will retire on January 31, 2026 [1][2] - Furner has been with Walmart for over 30 years, starting as an hourly associate and holding various leadership roles, including President and CEO of Walmart U.S. since 2019 [3][4] - Doug McMillon has been credited with leading a comprehensive transformation of Walmart during his tenure, focusing on associate investment, digital capabilities, and supply chain modernization, resulting in strong financial performance [4] Leadership Transition - John Furner is recognized as the right leader to guide Walmart into its next growth phase, with a strong understanding of the business across all segments [3] - McMillon will remain on the Board of Directors until the next annual shareholders' meeting and will assist Furner during the transition [2][5] - Furner expressed gratitude for the trust placed in him and emphasized a commitment to innovation and serving customers in a new retail era [4] Company Overview - Walmart Inc. operates as a tech-powered omnichannel retailer, serving approximately 270 million customers weekly across over 10,750 stores and eCommerce platforms in 19 countries [6] - The company reported fiscal year 2025 revenue of $681 billion and employs around 2.1 million associates globally [6]
Worthington Enterprises (NYSE:WOR) FY Conference Transcript
2025-11-13 16:40
Summary of Worthington Enterprises FY Conference Call Company Overview - **Company Name**: Worthington Enterprises (NYSE: WOR) - **Industry**: Building Products and Consumer Products - **Separation**: Worthington Enterprises was formed on December 1, 2023, following the spinoff of Worthington Steel from Worthington Industries, which has been operational since June 1955 [2][3] Financial Performance - **Sales**: $1.2 billion for the last 12 months ending August 2025 - **Adjusted EBITDA**: $280 million, representing a 20% increase from the previous year [3][21] - **EBITDA Margin**: 23% with strong free cash flow conversion [21][28] - **Liquidity**: Approximately $667 million available through revolving credit and cash [25] Business Segments Building Products - **Revenue Contribution**: 58% of total revenues, approximately $700 million with $229 million in EBITDA [9] - **Key Value Streams**: - Heating and Cooking: Large propane tanks, gas grill cylinders - Cooling and Construction: Refrigerant tanks and adhesive tanks - Water Systems: Buffer tanks for well systems - Systems and Components: HVAC components from recent acquisition of Elgin Manufacturing [10][11][12] Consumer Products - **Revenue Contribution**: $500 million with a 16% EBITDA margin [13] - **Key Products**: Tools, Burns-O-Matic torches, Coleman Camping Gas Cylinders, and Balloon Time products [13][14] Strategic Focus - **Cultural Philosophy**: Emphasis on a culture rooted in the golden rule, prioritizing safety and performance-based incentives [5][6] - **Innovation and M&A**: Continuous investment in innovation and strategic acquisitions to enhance market position and product offerings [19][20] - **Long-term Goals**: Targeting 6%-8% sales growth and 24% EBITDA margins over time, with a focus on improving gross margins above 30% [40] Market Dynamics - **Challenges**: The consumer market is facing pressure due to high interest rates and reduced housing turnover, impacting overall business performance [24][32] - **Joint Ventures**: Worthington has significant joint ventures, including Wave (50/50 with Armstrong World Industries) and ClarkDietrich (25% owned), which contribute to its market presence [4][12] Future Outlook - **Growth Strategy**: Focus on optimizing current businesses, organic growth, and M&A to drive future performance [18][20] - **Market Recovery**: Anticipation of recovery in heating and cooling markets, with expectations for ClarkDietrich to improve as commercial construction trends upward [24][42] Additional Insights - **Competitive Advantage**: Being the only domestic manufacturer in certain product categories allows for differentiation in the market [22] - **CapEx Plans**: Elevated capital expenditures for facility modernization, with expectations to trend down post-project completion [26][28] This summary encapsulates the key points discussed during the Worthington Enterprises FY Conference Call, highlighting the company's financial performance, strategic focus, market dynamics, and future outlook.
Walmart To Host Third Quarter Earnings Conference Call November 20, 2025
Businesswire· 2025-11-13 14:38
Nov 13, 2025 9:38 AM Eastern Standard Time Walmart To Host Third Quarter Earnings Conference Call November 20, 2025 Share BENTONVILLE, Ark.--(BUSINESS WIRE)--Walmart Inc. (NYSE: WMT) announced it will hold a live conference call with the investment community at 7 a.m. CST on Thursday, November 20, 2025, to discuss the company's third quarter earnings results for fiscal year 2026. Doug McMillon, president and chief executive officer, and John David Rainey, executive vice president and chief financial officer ...
Wall Street giants like Blackstone are betting big on the US rental housing market as demand skyrockets
Yahoo Finance· 2025-11-13 10:05
Core Insights - The real estate investment platform Mogul offers fractional ownership in high-quality rental properties, providing investors with monthly rental income, appreciation, and tax benefits without the burdens of traditional property management [2][7] - The build-to-rent model is gaining traction, with the U.S. Census Bureau reporting that the share of build-to-rent homes has doubled since 2021, now accounting for 10% of all new homes [4][5] - Major institutional investors like Blackstone, Invitation Homes, and Pretium Partners are actively investing in the build-to-rent market, indicating a growing interest in this investment class [4][5] Investment Opportunities - Mogul's platform features an average annual Internal Rate of Return (IRR) of 18.8%, with cash-on-cash yields averaging between 10% and 12% annually [1] - Investments on the platform typically range from $15,000 to $40,000 per property, with offerings often selling out in under three hours [1] - Arrived, another investment platform, allows retail investors to buy shares in existing rental and vacation homes, starting with as little as $100, thus lowering the barrier to entry for real estate investment [9][11] Market Trends - The affordability crisis in housing is exacerbated by rising prices and supply shortages, with the median sales price for an American home reaching $410,800 as of July 2025, while median household income has only just recovered to 2019 levels [6][16] - Elevated mortgage rates, currently around 6.22%, further challenge homeownership, making rental investments more appealing [16] - The trend of purpose-built rental construction is also observed in Canada, where developers are focusing on rental properties over new residential condominiums [13]
U.S. Mint strikes last penny to be used in circulation
NBC News· 2025-11-12 20:05
Existing pennies are going to retain their current value indefinitely, but with the last one being minted today, a penny shortage is what's next. Some retailers have already announced a shortage. Kroger's, McDonald's, and Walmart have reported problems, and some are rounding cash prices up or down as penny supplies dry. ...