Rainey further commented on the state of the American consumer. While “wallets are still stretched,” it is also the case that “even low-income consumers seem to be hanging on pretty well,” he said. He also added that shoppers are still coming to Walmart to purchase essentials like groceries and health items, in addition to less general items (like home goods and electronics).
In the long run, Walmart will concentrate on growth through recent sales drivers, akin to its subscription program Walmart+. Global promoting grew by 24% in the primary quarter and will probably be an interesting additional line of business for the corporate in the long run –as was the case with retail competitor Amazon.
In less celebratory news, Walmart plans to streamline its store offerings by closing Walmart Health Clinics in American locations.
The colleague at the large box store Home Depot had one predictably lower than stellar quarter as Walmart.
Given that buyers proceed to carry off on home renovations following the large COVID reno boom, it stands to reason that Home Depot shareholders are in for some sideways motion.
On Monday, the corporate said that while it reported its worst sales decline in twenty years, its bottom line was still quite good. Shares were mostly flat for the week.
The meme stock madness is returning
A post on
– Roaring Kitty (@TheRoaringKitty) May 13, 2024
For those that have not seen it or (excellent airplane movies, by the way in which), GameStop stock is the enduring “meme stock.”
What is a meme stock?
A meme stock is a stock whose growth is stimulated by Internet memes – often not on a profit or value basis. To sum it up: GameStop is a half-dying company that’s unlikely to show a profit within the foreseeable future. As a result, paying a high price for GameStop stock makes little sense (in accordance with traditional investment metrics). However, speculative bets on where the value might move can quickly make investors money (or cause them to lose it). Investors who short GameStop shares are essentially betting that the value will proceed to fall. If enough people buy shares of GameStop, these short bets against the stock price could cost those investors plenty of money.
