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IPFS News Link • Business/ Commerce

Walmart wants to beat Amazon at its own game

• https://www.freightwaves.com/news/walmart-wants-to

Well aware of the storm clouds brewing on the macroeconomic horizon, Walmart is doubling down on its supply chain-led transformation into an omnichannel retailer with an integrated, flexible and intelligent distribution and fulfillment network. For Walmart, leveraging its supply chain to unlock new margin gains is integral to "Everyday Low Cost," which enables "Everyday Low Prices." 

Walmart doesn't expect to grow fast in 2023. For the year ending Dec. 31, 2022, (Walmart's fiscal year 2023), Walmart's U.S. comparable sales grew 6.6% year over year (y/y) and 13% against a two-year stack. But the annual guidance reiterated at Tuesday's Investment Community meeting in Tampa, Florida, has U.S. comp sales growing just 2 to 2.5% this year. In other words, Walmart expects significantly slower growth this year, though CEO Doug McMillon recommitted to management's 4% annual sales growth target over the next five years.


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