Walmart Inc. (WMT - Free Report) shelves plans to sell off a major stake in its U.K. grocery unit, Asda, on hold to better manage its business during coronavirus-induced stockpiling, per sources. Well, fast-spreading coronavirus spiked up the demand for essentials like groceries and related staples.
Amid gloominess related to the coronavirus crisis, big-box retailers are witnessing spike in essential goods’ demand owing to consumers’ panic-buying trends. As a result, demand for grocery, medicines, cleaning supplies and related food staples are skyrocketing.
As consumers are stocking up on essential commodities, companies are leaving no stone unturned to fill shelves faster. We note that, retailers like Target Corp. (TGT - Free Report) , Kroger (KR - Free Report) and Costco (COST - Free Report) , to name a few, have been witnessing demand spike for essential goods amid coronavirus chaos.
Coming back to Walmart, the company’s plans to sell major stake in Asda stems from its efforts to shift its focus on more profitable regions like India and China. These moves are likely to strengthen Walmart’s International segment. In this regard, Walmart’s buyout of major stake in Flipkart is helping the former expand its presence in India, which is a major retail market in the world.
In fourth-quarter fiscal 2020, currency-neutral net sales rose 2.2% to $33 billion, with six out of 10 markets registering positive comps in the International segment. Moreover, management expects net sales in the International segment to increase approximately 4% at cc in fiscal 2021.
Apart from these, Walmart is trying every means to evolve with changing consumer environment to compete with brick-and-mortar rivals and e-Commerce king Amazon. In this regard, the company has been taking several e-commerce initiatives, including buyouts, alliances, and improved delivery as well as payment systems. Moreover, the company’s efforts to improve its website, enhance check-out process along with Walmart Pay mobile payment system and Mobile Express Returns program highlight its initiatives to accelerate the online business.
Shares of this Zacks Rank #3 (Hold) company have increased 20.9% in the past year compared with the industry’s rise of 19.5%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Walmart Inc. (WMT - Free Report) shelves plans to sell off a major stake in its U.K. grocery unit, Asda, on hold to better manage its business during coronavirus-induced stockpiling, per sources. Well, fast-spreading coronavirus spiked up the demand for essentials like groceries and related staples.
Amid gloominess related to the coronavirus crisis, big-box retailers are witnessing spike in essential goods’ demand owing to consumers’ panic-buying trends. As a result, demand for grocery, medicines, cleaning supplies and related food staples are skyrocketing.
As consumers are stocking up on essential commodities, companies are leaving no stone unturned to fill shelves faster. We note that, retailers like Target Corp. (TGT - Free Report) , Kroger (KR - Free Report) and Costco (COST - Free Report) , to name a few, have been witnessing demand spike for essential goods amid coronavirus chaos.
Coming back to Walmart, the company’s plans to sell major stake in Asda stems from its efforts to shift its focus on more profitable regions like India and China. These moves are likely to strengthen Walmart’s International segment. In this regard, Walmart’s buyout of major stake in Flipkart is helping the former expand its presence in India, which is a major retail market in the world.
In fourth-quarter fiscal 2020, currency-neutral net sales rose 2.2% to $33 billion, with six out of 10 markets registering positive comps in the International segment. Moreover, management expects net sales in the International segment to increase approximately 4% at cc in fiscal 2021.
Apart from these, Walmart is trying every means to evolve with changing consumer environment to compete with brick-and-mortar rivals and e-Commerce king Amazon. In this regard, the company has been taking several e-commerce initiatives, including buyouts, alliances, and improved delivery as well as payment systems. Moreover, the company’s efforts to improve its website, enhance check-out process along with Walmart Pay mobile payment system and Mobile Express Returns program highlight its initiatives to accelerate the online business.
Shares of this Zacks Rank #3 (Hold) company have increased 20.9% in the past year compared with the industry’s rise of 19.5%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on TGT - FREE
Get the latest research report on WMT - FREE
Get the latest research report on KR - FREE
Get the latest research report on COST - FREE