"The latest entrant to the four-comma club doesn't make software or semiconductors - it sells groceries. Walmart stock closed 3% higher on Tuesday at $127.71, bringing the company to a market valuation of $1.02 trillion - a first for any traditional retailer. Wall Street has been a big fan of the stock in recent years, driving the price up by more than 28% from a year ago, significantly outpacing the S&P 500's 16% gain over the same period."
"Years of inflation and economic uncertainty have also played to Walmart's strengths, with customers of all income levels looking to its stores for the lowest prices around. Looking ahead, the company is set to lean even harder into AI and e-commerce following a leadership transition over the weekend that put former US division CEO John Furner in charge of the enterprise and former e-commerce chief David Guggina in Furner's old job."
Walmart's stock closed 3% higher at $127.71, valuing the company at $1.02 trillion and marking a milestone for traditional retail. The stock has risen over 28% year-over-year, outpacing the S&P 500's 16% gain. Growth reflects major investments in AI, automation, e-commerce, and convenience that are attracting customers both online and in stores. Prolonged inflation and economic uncertainty have pushed consumers of varied incomes toward Walmart's low-price offerings. A recent leadership transition elevated former U.S. division CEO John Furner to lead the company while former e-commerce chief David Guggina assumed Furner's previous role, signaling deeper focus on digital retail and AI.
Read at Business Insider
Unable to calculate read time
Collection
[
|
...
]