The profits of the Wall Mart company exceeded the Wall Street analysts in the third quarter, in light of the American shoppers sought to obtain deals amid the high inflation, and at 9:47 am 4. 4% this year until the closure of yesterday.
The value of the average profits of the shareholders exceeded the 1. 32 dollars per share when it reached 1. 50 dollars per share, in reference to expectations for a strong holiday season, according to Bloomberg Agency.
The shift in consumer spending away from general goods increased stocks among retailers, which led to a reduction in the prices of goods such as clothes, and the CEO of Wall Mart McMelon said that the company has greatly improved the accumulation of its stock, which led to reducing fears of the direction Retail sellers to the holiday season with a very large number of unwanted goods.
The head of the company’s operations in the United States, John Forener, said: There are about one billion dollars in stock, a decrease of $ 1. 5 billion in the past quarter, and the company’s stock in the United States increased by 12. 4% in the third quarter, mainly due to inflation levels; This is compared to an increase of 25. 6% in the second quarter.
Jennifer Bartashos, an analyst in Bloomberg Inteltering, said that Wall Mart stocks could be translated into less risk of deletion after the holiday.
Bartashos expects the company to acquire a greater share of spending from shoppers looking for value. The company’s total revenues reached about 152. 81 billion dollars in the third quarter, an increase of 8. 7% from last year.
The company expects the net standard sales for this year to grow about 5. 5%.
The improved expectations show that Wall Mart trusts that American shoppers will continue to spend strongly during the holidays after competition this year with the highest rates of inflation in four decades.
The grocery activity in Wall Mart also gets a batch as the company’s reputation at low prices attracts shoppers who deal with high inflation, and the CEO of Wall Mart said in a statement that the company Wall continued to gain its market share in the field of groceries, with the help of units growth In our food works..
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