Walmart’s Annual Investors’ Day took place on October 10th. Here are the key takeaways:
- E-commerce sales saw a 60% growth in the past year
- Since purchasing e-commerce innovator, Jet.com a year ago, Walmart has been on a shopping spree, snapping up smaller e-commerce players such as ModCloth, Mossejaw and Bonobos
- Introduction of price discounts if customers pick-up their orders in the store
- Walmart has grocery pick-up at 1,000 of its 4,700 U.S. stores
- With the focus on e-commerce, fewer than 15 U.S. SuperCenters will be open in next year
- Walmart expects total net sales to increase at least 3% in fiscal 2019
- The company introduces speedy online returns
- Stock buyback: the company will buy back a significant amount of its $240 billion market cap
In a quote, Moody’s retail analyst, Charlie O’Shea said, “Walmart continues to widen the gap between itself and all other brick-and-motar retailers by leveraging its unmatched physical resources.” Still, he said, Moody’s believes that Amazon’s lead in online retail is insurmountable.
International CEO, David Cheesewright's presetation, including Canada
