Walmart shares hit all-time high, as retailer's value focus attracts shoppers and investors
Publishing timestamp: 2023-11-03 12:42:16
Summary
Walmart shares have reached an all-time high as investors anticipate a strong holiday season for the company. Walmart has been successful in attracting shoppers, including high-income households, by focusing on its grocery business and low prices. The company has also made investments in store upgrades, its third-party marketplace, and website redesign. Walmart's stock hit a peak of $166.30, the highest since it began trading in 1972. The company's strong performance, particularly in the grocery category, has helped it draw foot traffic and outperform other retailers. Walmart has also seen double-digit e-commerce gains and is focused on convenience for customers through services like curbside pickup and delivery. Investors have taken notice of Walmart's outperformance, with its shares climbing nearly 17% this year. The company is scheduled to report its fiscal third-quarter results on November 16.
Sentiment: POSITIVE
Keywords: walmart inc, macy's inc, business news, amazon.com inc, target corp, retail industry, breaking news: business, business,
Source: https://www.cnbc.com/2023/11/03/walmart-wmt-stock-hits-all-time-high.html