On Thursday, Shares of Wal-Mart Stores Inc. (NYSE:WMT), declined -1.17% to $59.33, hitting its lowest level.
Wal-Mart Stores, offered its planned outlook and growth plans for the future at the company’s 22nd annual meeting for the investment community. The investments outlined recently are part of a framework designed to drive sales growth by strengthening the U.S. and e-commerce businesses. This framework is intended to enhance the experience in stores, leverage Walmart’s unique supply chain capabilities to lower costs and build deep digital relationships with customers.
“These are exciting times in retail given the pace and magnitude of change. We have strengths and assets to build on and are making progress to position the company for the future,” said Doug McMillon, president and CEO, Wal-Mart Stores, Inc. “We’re encouraged by recent customer feedback and will continue to get stronger. Our investments in our people, our stores and our digital capabilities and e-commerce business are the right ones. We will be the first to build a seamless customer experience at scale to save our customers not only money but also time.”
Financial Outlook
The company also indicated that as a result of a stronger than anticipated impact from currency exchange rate fluctuations, it now anticipates net sales growth for the current fiscal year to be relatively flat. Not Taking Into Account the impact of currency exchange fluctuations, net sales growth would be about 3 percent for fiscal year 2016. In February, the company indicated that it predictable net sales growth of between 1 and 2 percent.
Charles Holley, Walmart’s executive vice president and chief financial officer, outlined the company’s financial priorities for growth and detailed the investment and expansion plans for fiscal year 2017.
Wal-Mart Stores, Inc. operates retail stores in various formats worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam’s Club. It operates discount stores, supermarkets, supercenters, hypermarkets, warehouse clubs, cash and carry stores, home improvement stores, specialty electronics stores, restaurants, apparel stores, drug stores, and convenience stores, in addition to retail Websites, such as walmart.com and samsclub.com.
On other hand, Shares of Office Depot, Inc. (NASDAQ:ODP), surged 4.14% to $7.29.
In the last trading session, Office Depot,, moved on high volume, trading at a volume of 20,259,346 versus its average daily volume of 8,711,000 shares. At $7.29, the stock has lost momentum as shares are down from a peak price of $4.74 recorded on Oct 20, 2014. The stock, as of recent close, has shown weekly upbeat performance of 10.62% which was maintained at -14.94% in this year. The stock is having its 200-day moving average of $8.35 and $7.12 as its 50-day moving average.
Office Depot, Inc., together with its auxiliaries, supplies office products and services. The company’s North American Retail division sells an assortment of merchandise, counting office supplies, technology products and solutions, business machines and related supplies, facilities products, and office furniture under various brands through its chain of office supply stores.
