is walmart worth it? >> well, it's a company that's transformed itself the largest retailer in the world. we kind of knew that but in terms of e-commerce, and again, some of the numbers, they're going to essentially invest $7 billion or so into wages from an a.i. perspective so they can do $130 billion more in sales with the same cost on head count that's impressive. and that's something that will only work to their advantage where the economies of scale and the operational leverage in their business they are truly someone that's going to be a beneficiary of a.i. they're hard at work, they've been hard at work. they've invested in stores and technology and invested in people that's kind of what management was saying today and i think that's part of why it did what it did these comps were better than the street walmart's comps and, as we've all said, the momentum around the walmart sales trend trajectory is very different than what we've seen from other people but to me, it's all about these investments an

annmarie: walmart-- lisa: walmart earnings and then more coming up. back to the third hour. annmarie, lisa, and dani. jon is off right now which is a good and beautiful thing and he will be back on monday. after getting walmart earnings that seem to defy some gloomier prognostications about the economy. dani: the ideas if walmart is doing well consumers are trading down but you are seeing a walmart that is investing a lot to complete -- to compete with amazon and offer value products. that suggests a walmart capturing consumers willing to spend. they are just being more discriminating. lisa: this raises this question and something we have been talking about a lot, how long does a bifurcated consumer mask underlying weakness or is this a multi-cylinder economy that keeps pumping in different ways to keep it afloat and keeps the overall data points giving a muddied and unclear economic risk. annmarie: we need to listen to the fed meaning that we put more emphasis on what is going on in the labor market. we have seen a higher unemployment rate. goolsbee

but not walmart. what else?r walmart put up 21% e-commerce growth worldwide driven by store-fulfilled pickup and delivery their nascent advertising business, the margins here are insane grew by 26% globally and their loyalty program walmart plus had double-digit membership growth best of all unlike some other retailers walmart raised its full year forecast across the growth raised their revenue outlook from 3% to 4% range to the 3.75 to 4.75% range might not sound like much to you but when you're dealing with low to mid single digit growth that is meaningful improvement. they also raised full year earnings per share outlook by 9 cents per share at the mid-point. remember, walmart only beat by two cents in th quarter so the seven cents they're coming for the rest of the year so many companies won't raise. these guys did in fact, the strength's really coming from the fourth quarter because their earnings guidance for the current quarter came in a tad light. that wasn't enough to prevent the stock from shooting up

walmart.and what do you look for >> well, i think you stated it earlier. one of the most universal stories of this earnings son son has season has been the u.s. consumer mcdonald's and starbucks and airbnb stated this slowdown is prevalent and taking place when we look at walmart, we anticipate a top line revenue slow down particularly from the low-to-middle income consumer. what walmart has done is attracting the high-end consumer we really want to see what they say and what commentary is the higher-income consumer hitting that same type of wall that the lower-income consumers are with walmart, we feel they are doing an excellent job of insulating themselves from the slowdown that's whereas the best of breed consumer stable do an excellent job of finding alternative revenue sources and tied to big data and cost cut and reduce the overall costs they are incurring. that's where walmart can stand above the rest. >> stack financial clients have enjoyed a great run so far this year that stock is u

are being forced to go to walmart.e're getting fancier or even though with better goods, its new private label grocery brand, most items are under $5, but it has flavors that might resemble a trader joe's it is a little bit more appealing to a wider variety of consumers. >> perhaps most importantly, especially for equity investors, going back a couple of quarters, they first started to talk about choice bill, such an interesting -- not choosy, but that was the beginning of a sign that stock picking and retail was going to matter and boy has it they're sticking with that theme without saying they necessarily see any increase in softening of consumer spend overall. >> i also asked him about pricing, and inflation, and he said it was flat this quarter. so all the growth that we're seeing walmart report was from units, rather than dollars for a long period of time, obviously, that was coming from everything costing more. >> don't tell kamala harris. okay melissa, thank you appreciate it. look at walmart shares now they're

if anyone's been to walmart lately, it's not the old walmart.he -- like the fashion side is designed by people from fashion avenue here. >> you've been saying this for more than a year. >> my daughter and i go there, and it's the most fun place, because the basket of what you buy, i mean -- and she's a vegan. i know this sounds strange, but they're like -- they cater to vegans. they cater to anybody, frankly, but their stores are so attractive that they are taking people from dollar, taking people from literally any mom and pop, and this is a very strong showing. their e-commerce is really strong. >> digital up 22. general merchandise positive after 11 quarters. >> that's significant. >> and the other side is that we now have ulta, berkshire, pershing, nike. >> ulta, the numbers are too high, and it's been a terrible moment for dave kimble. doesn't matter if it's ulta or e.l.f. or estee lauder. their all bad. that category is bad. it's got a lot of china exposure. this is one. you're buying ulta because of buffett here. what happens on monday? y

walmart at over 29 times.at valuation consider how similar the businesses are, does that make target more compelling? >> good morning, frank. i think lindsey was staring at my notes, too. i think walmart is more compelling. walmart is, if nothing else, fairly valued at the all-time highs versus target, up until wednesday, wasn't a story to be talked about, but they did have the underlining business fundamentals to back investors deciding to suddenly look at this name. i would throw another name into the mix which is costco which is up 60% over the last 12 months compared to walmart and target which was near zero in the same time period. if you take all of those together, we are really talking about discretionary spending being flat because of inflationary response and bring that forward a year. all three of those names, target, to me, has a lot of room to run. if i were a target shareholder, i would look at adding to that position. >> malcolm, while we're in the weeds, you are bullish on target over walmart. m

walmart gets 50% of its revenue from grocery. lot of people kind of make it -- it makes a lot of people think it's a more stable business because people are always going to buy more food. does that mean on the other side that target is more leveraged to have a big sales bump because it's more, as you mentioned, apparel, other things that are more discretionary. in all fairness there's discretionary in electronics. >> in back to school they always have a strong assortment and try to suit the consumer with whatever it is they're going the need. walmart is 50% grocery. they've started to become a one-stop shop for all. target is a favorite for discretionary. it's the small luxury people like from target. that's their upper hand. >> as part of your notes, beauty is part of the spending and you highlight ulta and shopify. how do i view this? target basically broadening out? walmart has done the same thing. >> ulta, it's done well. if you walk into target that has ulta as well as the website, you find unique items you wouldn't find. in

like you said, walmart is really firing on all cylinders, and this is not the walmart that most peopleto know. this is a wall walmart that's really changing. it's not just known for its retail business anymore. walmart's also growing its his thing business, it's growing its health and wellnesses business, it's selling data. these are much higher margin business streams, and that's allowing the company to, for one, lower prices while also growing the all all margin profile -- overall margin proif final over the next few years, we'll likely see operating income grow father than sale meaning margins -- faster than sales. stuart: okay. arun, thanks for joining us. hope to see you again soon. >> thank you. stuartout former google chief executive eric schmidt is walking back his criticism of the company's work from home policy. what did he say then and what's he saying now? lauren: he told a group of stanford if university students that google is plague defense to openai because too many of their workers work from home. he said, quote, google decided that work-life balance and and going home

walmart is the latest.t do the results from the group say so far about the health of the consumer and what hints does it provide for investors? >>> futures are higher this morning as the s&p and nasdaq look for seven straight winning sessions and wall street is hoping to put a bow on its best week of the year so far. >>> wall street's love-hate relationship with crypto. one big name bank is jumping in and one is pulling back. what gives? it's friday, august 16th, 2024. you are watching "worldwide exchange" here on cnbc. >>> welcome back to "worldwide exch exchange." i'm dominic chu in for frank holland. let's check on this half hour. the dow implied higher by 67 points and s&p higher by 81 points and the nasdaq higher by 48 points. we're digging into the market action right now for the major indices. over the last week, we could be due for a banner one. the one-week chart of the dow, s&p and nasdaq, you can see the action. everything is positive. dow up 2.5%. s&p is up 3.5%. the nasdaq is up 5%. that is the

investors are piling into walmart. shares are surging just a second ago up 7% after the big box retailer outperformed earnings and revenue estimates, said its customer base is holding up well and that they have seen one segment of shoppers growing. those who make six figures. i mean, isn't that a sign, even consumers at the high end are starting to feel some type of pinch? coming up in a fox business exclusive, walmart chief chief financial officer john david rainy is here to analyze that and tell us the shifts he's seen when it comes to items, specific items in customer's shopping baskets, and as the stock hits a record high, what's walmart's plan to keep it there? all right it's not just the dow. the bulls are firmly in control of the broader markets. cockpit instruments right now, the s&p nice move here at the moment up 84 points 1.5% gain but you'll note both the nasdaq and the russel are up two-plus percent a piece. s&p and nasdaq on pace for six day winning streaks the longest in a month and dow, s&p and nasal ha

reported, walmart told us they're seeing that high earner customer come to walmart.ich, the people who have the resources are looking for value, liz peek, jump in here on this macro story. >> i'm interested in what walmart might say about their pricing strategy here, maria. in other words, a lot of companies have sort of pulled back on price increases. i wonder what impact if any that had on their results and you know, look, i think mark is totally right, we do have a bifurcated economy and i think that plays into walmart's strengths. maria: for sure. and that's something nancy lazar at piper sandler's been saying as well, real bifurcated. nvidia reports on the 28th. your thoughts on the magnificent seven and what you want to do with big tech here. >> yes, so we've seen a pretty significant snapback off the lows on august 5th. a lot of names have benefited from that. we would use this bounce to maybe get a little more defensive in the short-term. i don't think we're through the volatility yet. september and october notoriously difficult months for the stock market. m

i know we were talking about walmart do not cover walmart specifically but i am curious to get your takeays that "we are not experiencing a weaker consumer, they want a value and a broad assortment of items and services. is walmart an outlier given what other retailers have shared with us? dana: you mentioned that walmart is the biggest retailer out there and i think they are gaining share and given the extensive reach that they have into many different income cohorts, plus the fact about ticket and traffic both showed gains. i think they are gaining share from others. the value pricing and the convenience whether it is in-store or online coupled with the broad category assortment and look what he said about back to school which is strong for them. i do not think the words and frankly the picture that we are seeing from walmart we are going to hear from other retailers. it feels like they are stronger than others because of their offering, price, value and convenience relationship. scarlet: we were just hearing it is not about price but convenience and the value proposition that they off

for example, walmart and cheerios is 200% higher. it is not walmart. farmers are receiving less, but the cereal millers are raising prices with impunity when input costs are down. walmart is fighting for brands as kroger and costco the ftc is looking in the wrong direction and walmart, by being a low-priced leader, has a fantastic future both for the second calendar half of this year and going into the second half of this decade. >> i have to jump in here. you said something really interesting now. you said input costs are down. of course, we are seeing inflation move in the right direction in the united states, but to what extent are higher costs impacting the american consumer and biting into consumption? >> dan, to your important question, 65% of american consumers are living paycheck to paycheck the university of michigan consumer confidence index is at historic lows while food prices are at historic highs. it's all from price piracy as walmart follows the british business model of better store brands at lower prices like kroger does with the manuf

at the same time walmart a has an entrindustry -- and walmart walmart plus that's competitive relativeng some progress, making the program easier but as we think about the future of retail it's bricks plus clicks, but also where scale matters, technology matters, a.i. matters. on walmart as well, they are getting a higher income household customer as consumers can get great brands on the marketplace model, that's working as well at walmart and we're looking forward to that momentum in addition. >> macy's you're maintaining your hold rating there. what's your read on that stock? operating margins 4.4%, well above what the street was anticipating. >> what's happening at macy's they are seeing a heightened environment. also they're a work in progress with newer private brands which have been relaunched taking hold. macy's needs to appeal to a younger customer. department stores in in the mall is a tougher place with traffic they're also executing on small format, which is a good thing but early innings. we're watching pieces, they need to get the younger customer, get the better product t

walmart on pace for its third straight update.l have more on retail coming up. >>> let's start with the setup for the markets following last week's big moves. major averages down 3 or 4% for august so far. even with the losses, let's keep perspective here. the s&p 500 and nasdaq are up 12% or thereabouts for the year so far. let's bring in mike santoli for more. mike, welcome. good to have you with us. as we look into this week with a couple key earnings, most notably from walmart and a couple others, what are you seeing? >> reporter: mostly what we're seeing as an apprehensive action. certainly calmer. no more of that panic. that was a week ago. what we have now is more akin to a fairly routine growth scare in the economy. i think what the market needs is reassurance that the u.s. economy, the consumer, remains relatively healthy. that's the battle front right now. are we preserving the possibility of a good soft landing. has the fed waited too long? the inflation numbers are important this week, but they ought to be subordinate

here in the united states it is walmart, target and amazon.art, everything out of the water and i am looking at the stock right now and it is trading at 7%. you know, since the open. it is really what we're seeing now is that consumer to these stories to purchase everyday items. —— to these stores. in the uk new data today says that the economy continued to grow in the second quarter of the year. the first estimate of growth between april and june is 0.6%, a slight slowdown on the 0.7% recorded in the first quarter. but it's still a welcome change from the short recession experienced here last year. the growth was led by the services sector, in particular the it industry, along with legal services and scientific research. earlier, i got the view from katharine neiss — chief european economist at pgim fixed income on the numbers. the number that was released today is a great number. a 0.6% is very strong and as you have noted, comes right after a strong one. certainly, the first half of this year has proven to be much stronger growth rate for t

inflation was flat at walmart. all of walmart's sales came from unit growth, not higher prices >> so they're actually selling more stuff, and notably selling more stuff out of the grocery store aisle for the first time in a long time >> yes, exactly. and that could be a positive indication for walmart, or it could be a positive thing for everyone that will be put to the test because soon we'll hear from target, macy's, et cetera, some of those stocks rallying in relief here. it's important to note that john david rainy, walmart's cfo, took some of the credit he said, you know, while that may mean that -- while people may interpret that to mean people have more left in their wallet after paying for everyday se essentials, he says walmart has grown their third-party marketplace. that means it has a lot more stuff to choose from and that could also be why it's seeing growth in areas like home and fashion that people didn't historically find a lot of assortment at walmart before >> the ceo said the customer is weaker o

that takes us to walmart.p the screen and look at walmart, which is still the biggest u.s. retailer via revenues. they will be looking for anything they say on the health of the consumer and switch up and buying and going for cheaper products with the volume being reduced in anything they say on inflation as well. this is what's expected in terms of revenue growth year on year. 4.2%. anything around inflation and around changing consumer habits that would be interesting in terms of how you think about the resilience of the u.s. economy. let's look at just where walmart stands in terms of the strength and the size within that retail space in the u.s.. largest revenues as a retailer, but interestingly, amazon is expected to take that crown by the end of this year and walmart pushing back with some other objectives in terms of expanding to other businesses to try to offset that challenge for amazon, including a third-party marketplace. that's the size and scale of walmart in terms of the retail space. challenge c

walmart is the bellwether for the u.s. it is the nation's largest retailer and grocer. the ceo said walmart has not seen a change in the shopping trends. consumers remain choiceful and value seeking, but he added we don't see any additional frame of consumer health. for the first time in 11 quarters, walmart sales of general merchandise, items outside of the grocery department turned positive. still, he said, the company decided against raising expectations for the back half the year saying it wanted to be guarded since the election and conflicts in the middle east could hurt sentiment. inflation was flat at walmart. all of the sales came from unit growth, not higher prices. melissa repko, cnbc business news. back to you. >>> uk retail sales ticked higher on the month in july which was in line with expectations as enthusiasm over the euro football tournament drove summer spending. the data represented a mixed bag for the economy with core sales missing forecast and sales volumes below pre-pandemic levels. here to unpack it

walmart has sold . uite business. walmart has sold uuite a business.a bit 0ij _ business. walmart has sold quite a bit 0ij shares - business. walmart has sold quite a bit 0ij shares and| quite a bit ofjd shares and that has caused the share price to fall significantly. you are up—to—date on the business needs. see you soon. hello. i think it's going to feel more like autumn than august over the next couple of days, particularly across the northern half of the uk, where we're going to see some heavy bursts of rain wednesday turning very wet indeed and there will be some pretty strong winds. it's all because of this frontal system pushing in from the west, thickening up the cloud, bringing those outbreaks of rain from the word go across parts of northern ireland and western scotland, eastern scotland starting the day with a little bit of brightness. northern england, parts of north wales likely to cloud over a bit of patchy rain developing here. to the south of that, through the midlands down towards the south of england, it should stay largely dry with

jack: when target was struggling, walmart was gaining market share.et is doing well again does it feel that walmart will get back market share. >> that's a possibility but i don't think walmart has to worry, we saw during the pandemic that there was room for both of them to do really well and i think there is obvious overlap between the two big-box stores that walmart has a diverse business and so many other lines of business it's not an apples to apples comparison. i don't like is a zero-sum game. >> tell us which retailers are hottest right now. >> you can take what i'm about to say with a grain of salt. as you can see from my shoes i'm wearing floral doc martens. >> floral doc martin is like a floral combat. >> i know that's not everyone's cup of tea which is evident without doc marking can perform. but i think one of the hottest areas of retells her ugly shoes. if you saw deckers which makes out. >> who wants to be named this is a backhanded compliment. >> they are laughing all the way to the bank, deckers which makes ugly and hope to. >> the snea

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cirkul, available at walmart and drinkcirkul.com.omething amazing is happening here. retailers are moving inventory quickly and securely. that's because cdw designed and built a solution with cisco security. end to end protection, defends against attacks and makes better decisions in real time. so warehouse and customer data stay protected every step of the way. make amazing happen. cisco and cdw. ( ♪♪ ) feel the power of osteo bi-flex®. taken every day, it's clinically shown to improve joint comfort in 7 days, with significant improvement over time. ( ♪♪ ) >>> i feel the president should have at lead say in there, yeah. i feel that strongly. i feel in my case, i made a lot of money and i was very successful and i think i have a better instinct in many cases than people on the federal reserve or the chairman. >> that was former president donald trump last week criticizing one of his old foes, the federal reserve and chairman jay powell as the central bank prepares to pull back the throttle on the policies and trajectories in decades.

of on the internet walmart share 22% gain, target was 9%, less than half.sumer is stress, the story is very clear the consumer is stress by inflation running out of humility, same thing with the other, leasing and tjx bases the discretionary luxury, sales were down outlook was poor look at tjx, sales were up they are a valued player off-price consumers hunting for value in difficult times. stuart: tell me about shrinkage and target report mentioned. >> is looking better than it did in the past and they had a book gain if you will on their inventory so the accounting look better, some shrinkage is due to theft and there's a lot of retail theft going on no doubt about that talked about the recently meanwhile it's an accounting error in a bookkeeping and wegovy saw that coming better this time with targets results, when you put that the rearview mirror, the bigger picture inflation is eating into the consumers pocket they don't have a lot of money to spend retail the boston consumer is strong, quarter after quarter, month after month, retail sales is less than

. >>> walmart confirms a sale of jd.com. they say that decision would allow it to focus on walmart china and sam's club and deploy capital to other priorities. the stock was do8.7%. >>> china's walmart is selling shares at a price range of 24.85 to 25.85 each. jd.com's shares sinking down. walmart and jd's partnership go back eight years and the u.s. retailer now remains continued is committed to a continued relationship and apply capital toward other priorities. reportsing from hong kong, i'm emily tan. >>> the european president and german's president broke ground on tsmc's chip plan. the aid approval is the largest so far under the block's c.h.i.p.s. act with the joint venture between tsmc and several chip players expected to cost 10 billion euros. vond layen held it for all sides. >> it's an endorsement for europe as a global innovation powerhouse. the world's largest chipmaker is coming to our continent and joining forces with three european champions, and the benefits will be felt well beyond sexton. as a time of growi

to walmart, which would be huge. >> yeah.igrating down to the lower margin, right, that would be the grocery, are they doing that? remember bill simon was on a couple of weeks ago and said he thought that sort of $100,000 plus income customer is actually sort of done with walmart, and that -- so, that would be bad if they lost that customer. i agree with everything everyone said, it's just expensive. it's expensive to itself, it's expensive. i do own it. it's similar to home depot and, you know, i don't know the earnings will be great. maybe not. but this is a great company, and they're doing all the right things. and not going to trade out of it and try to trade back in at the right time. so -- >> bill simon, by the way, is on tomorrow to talk about walmart results. so, we'll get his take. up next, final trades. t 29 at university of maryland global campus, offering online and hybrid courses and lifetime career services. learn about our more than 135 degrees and certificates at umgc.edu. complexity. healthcare payments are f

the ones that rollback prices, target costco and walmart have had terrific sales. tjx of course stand for low price because they are buying clothing at merchandise. when you get the consumer what she wants which is rollback prices, she is healthy and stays healthy as long as she has a job. if you know the employment number you will know what retail sales will look like. it's just that individual retailers are all over the place in terms of performance. we like everything that we've reported. we would like it all to be consequential but apparently that's not the case, so let's stop it. it's great to know that you can buy stocks like costco, walmart, tjx and target because they offer you the best values. maybe for our purposes, that is all that matters. [ music ] >> craig in missouri? >> boo ya. thank you for taking my call. a longtime fan, listening to you in the early 2000's on your radio show, and you explain the difference between a limit and a market order to me. i've been buying on limit ever since then. >> you've never been picked off, that's what i want. peop

walmart, i still cannot get over what the ceo said, more wealthy consumers coming to walmart and tradinga that you can have an investment play. is it walmart or a disney park? people going abroad and going to a park? depends -- lisa: depends on if they want food or mickey mouse. [laughter] coming up next, we parse through the debris of last week's volatility and look at whether it will continue. this is bloomberg. ♪ hi, i'm jason and i've lost 202 pounds on golo. so the first time i ever seen a golo advertisement, i said, "yeah, whatever. there's no way this works like this." and threw it to the side. a couple weeks later, i seen it again after getting not so pleasant news from my physician. i was 424 pounds, and my doctor was recommending weight loss surgery. to avoid the surgery, i had to make a change. so i decided to go with golo and it's changed my life. when i first started golo and taking release, my cravings, they went away. and i was so surprised. you feel that your body is working and functioning the way it should be and you feel energized. golo has improved my life in so many

it is not coming from walmart. their service, they have been able to gain share across income cohorts particularly driven by upper income households. rich folks, more and more of them are going there. by the way they made a ton of money selling ozempic. i'm telling you now. that is my observation of retail. bring in one of my favorite retail experts, kb advisory group, their founder kristin bentz. your thoughts retail sales, walmart. where is the u.s. consumer right now? you. >> know it is funny the last time i was on your show we were talking about walmart how it is kind of a discretionary indicator but the biggest growth of consumers for them came with folks with household income of $100,000 other more. there is your answer. everyone is trading down. what is their trademark line, save money, live better and i think that's what a lot of americans are doing right now. if that doesn't tell you what is going on with the economy, i don't know what else will. charles: last night i thought about you, big folks, money ma

>> i think walmart was really important. we got that good number of walmart. enormous, so that was important but we'll see what the follow-through is, did they get -- target will be really interesting. did they get that high margin business they were lacking before. so, walmart brought people in with the grocery, but now they were able to also get higher margin business, can target do the same? that's kind of really important for the health of the consumer. the consumer is going to spend for staples, they need groceries, going to spend for that, but are they going to spend for home goods and other higher margin apparel, things like that, like consumer electronics, which i don't think was great at walmart, but so that's an important one, t.j. maxx, which i also own. >> you love. >> i like t.j. maxx a lot, the only thing is it's expensive, but it's always been expensive. it deserves to be expensive. they do a great job. they'll continue to do a great job but i'm not sure how much upside they'll really have in the short term and i also have the barbell, which is

the largest tenant, we have over 50 walmarts in the portfolio.d on microfulfillment. they have a facility at their store 100. when you see kroger really focused on macrofulfillment. we're still finding what that calibration is in today's omnichannel world. the macrofulfillment, there's a lot of assumptions built in. we never assumed pandemic. we never assumed rising labor costs. and then, we thought everything was going online. >> with ai, it kind of is. now we tied it all back to nvidia once again. thank you. that's going to do it for the exchange. stocks overall at session lows. i will be back for overtime at 4:00 p.m. in case you haven't heard, a little company called nvidia is reporting after the bell. "fpower lunch" is next. do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. call coventry direct to learn more. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. our friend sold their pol

i also want to see how does walmart do well. we know the grocery business is really good, but we want to see the higher margin business, the general merchandise business, if that does well, i actually think that bodes well for target, which i don't own to see little bit of life in the consumer. i do think, though, that we know that may and january were bad. i really want to hear how july is. we're right in the middle of back to school, i want to hear how that is, but some of these names, i mean, there has been so much pressure on the stocks of consumer, you know, spending. if you look at a name like lulu, which i now own, higher than here, but not a lot higher than here, but i think, you know, it's trading under 17ish times earnings for a company with a great balance sheet, i think that a lot of really mediocre news is priced into that. ulta, which has been not a great one at all, thanks, tim, for saying it traded well. ky tell you this one definitely not because i'm long, but this one now is under 13 times earnings. i didn't li

, is that actually good news for walmart?n't know if you can translate it to a walmart. to tim's point, with the exposure to the pro contractor, that was due to an acquisition that home depot had, so, they looked through that, and they gained some market share there. but if you look at the average ticket size, that dropped, customer transactions, that dropped. if walmart has a headwind, the economy's in trouble. so, i think it's going to be a good barometer for the overall economy if walmart doesn't perform. >> we talk about operating margins, that was a bright spot. 15.3%. so, they beat there, comps, tim said were going to be bad, they were. probably not as bad as were expected. so, i was actually quasi-surprised it opened lower, but i wasn't surprised you saw a relief rally. i think they are still challenged. the guidance wasn't great. i think this can last a couple days, but the trajectory is still to the downside. >> growth is anemic here. it's not something you're willing to pay too much above a market multiple, and it b

. >>> walmart is performing in the s&p 500. it out gained costco. it is up 38% after yesterday's earnings lifted the stock by 6%. you see walmart taking on the lead there. there's that ongoing debate, steve. does walmart indicate the consumer is strong or under duress and have to go there to make their dollars stretch. >> can i offer a third part that walmart is taking a share of the others. that's why the other retailers next week is important. target is next week and et al.. i think as i said earlier this week, the rumor of the consumer death is exaggerated. i think they're under more pressure because the savings have run down. we still have decent incomes and this whole notion of incomes or salaries being higher than inflation. real income and wages have been rising for a pretty good streak now. that should help consumer spending and bring everything back down to normal. i think there's also this interesting shift you want to be aware of. we were all in the goods and then all in services and maybe now there's a shift back to a better balance of g

walmart did it.eally, very, very impressive. >> you can see what's happening to urban, down 15% this morning as comps were down more than 9 at urban, although anthropologie was better. the mystery is bj and why that's not benefitting from the dynamic you're describing. >> they did the low end and the consensus was much higher. low end, 3.75, down 4%. i thought bj spent a huge amount of money on marketing, and i was surprised. s z sg&a, you look at costco, they get leaner and leaner. this is the quarter that made me feel like maybe bj's moved too far. david, i don't know about your bjs. mine, i'm just not impressed. >> haven't been. i don't know if there is one that i would qualify as mine. >> to be honest, they're up against the greatest -- maybe the greatest -- second greatest retailer of all time, costco. i'm going to give walmart that, because i've been reading about sam's clubs in china. they've crushed it. they're the only retailer in china that's doing well. >> they don't need jd anymore. >> if

walmart changed. walmart decided to go after with a couple of $5 and under products, david. general's products go up, walmart's products go down. the walmart stores are fantastic. they started to incentivize managers to be able to get it right for the areas they're in. i just -- it's a clinic, walmart. and so is the stock price, as is costco. >> new highs on walmart. the guidance, let me just give people the guidance on dollar general. same-store sales guidance. >> that's very big. >> and fiscal year, 24 eps, now 550 to 620 versus 680 to 755. so, off a stock price -- >> this is an elongated earnings season and that is one of the biggest misses. that's what happened. used to have a reputation for never missing and that's no longer the case. dollar tree has a better record now, but i think that people have not been -- the snobs on wall street have to go to several walmarts to see the pricing, and they will be blown away. i mean, when we go to -- my daughter's a baker. if you want a cheap product to make it so you can make cookies with a gross margin, you have no choice. you ha

>> are the getting a boost because of walmart?n: walmart and retail sales stronger-than-expected. is the consumer okay? target has been a dog this year. they report at the end of the month, the 21st. stuart: this also beauty has gone on straight up. lauren: berkshire hathaway took a $266 million taken the comedy, major stamp of approval from warren buffett. he's going to be 94 years old in two weeks time. he likes to buy companies on the cheap. stuart: would you call him an old dog? don't do it. cisco had a great report last night. lauren: hardware selling well. they are trying to cut reliance on that and pivot to services. ai, cybersecurity and part of the restructuring include 7% job cuts. stuart: $50 a share almost. rfk junior reportedly trying to meet with kamala harris to talk about a role in her cabinet. looks like he is playing both sides. trump says he will conduct the largest deportation operation on day one if he wins in november. the border guys next. stuart: on the market this morning the rally holds, dow is up 350, na

i mean, the walmart quarter really blew the doors off.ke, up 2.3%. but on the back of the walmart move and, you know, right out of the gate it was trading up 8.5% yesterday at the opening, finishing up 6% or so. but on the back of all of that, mike, swap traders are reducing their gets on how aggressive thw aggressive the fed needs to be. kenny polcari, traders or are reducing their bets, remember last week they were calling for jumbo cuts, 75 basis points to 1% at the september meeting, some were screaming for an emergency meeting, and as of yesterday the bets are coalescing around the 25 the basis point cut that the fed has been talking about all along for september. so do you think the walmart news and the good showing in terms of the quarter is now if getting people to say, okay, maybe we won't have that many cuts after all? >> yes to a degree. the reason the stock was up so much yesterday on their earnings is because there was real fears that they were going to have a big miss, and retail sales was going to have a big miss and show u

and walmart says the prices of many of its products have dropped. the company says inflation has been stubborn in one particular aisle, dry groceries and processed foods, including soda. it says it's been calling suppliers to cut prices, but many are resisting. economists say walmart is able to keep prices low because it makes more profits in non-retail areas like advertising. new reports show inflation is slowing down, and that has eased investors concern about a recession. so today the markets rallied. the dow went up by about 555 points. the tech heavy nasdaq went up by almost 402 points. and the s&p up by 88 points. all right. could changes be coming to some of your favorite snacks like chips hamburgers. we're go is asking companies to voluntarily cut the amount of sodium it puts into the food you eat. sodium is often linked to high blood pressure, a major risk factor in heart disease and stroke, and it's packed into your favorite processed fast foods. pepsi, mcdonald's, lay's chips, just to name a few. the fda hopes to cut those numbers by 20%

walmart has its own dynamics.to target next week, one of the things to keep in mind is a year ago in second-quarter is when they had the backlash from the boycotts consumers had from their pride merchandise a year ago. they have easier comparison so that is a great set up for target. they still spew to more discretionary spending. it'll be interesting to see how well they have attracted consumers to buy more of those essentials through price reductions and advertising. lisa: what you make of whether the consumer is strong or weak? you have retail sales that highlighted the fastest pace of expansion going back almost a year. at the same time darrell cronk was talking about how the bulk of that was in auto sectors. we are seeing a lot more pushback in desire for value. where are we in this? jennifer: across-the-board the consumer is not getting worse, but they're not getting better as fast as most people would like. that is reinforcing that search for value. with regards to current spending , we are in the middle of

home depot and walmart.erall analysts expecting top and bottom line numbers to improve for both stocks, quarter on quarter and year on year. two very different tales for the charts. so far this year walmart crushing it. up 30% this year. home depot, courtney, just about flat. but this week, numbers could change a lot of things. >> absolutely could. you're seeing this for a reason. look at wrmalmart bringing in income across all consumers and continuing you have a lot more non-discretionary towards purchases. seeing higher margin businesses like advertising, third-party fulfillment growing faster than the core business. actually well positioned in an environment where the consumer remains stretched. likely going to continue to do well. they have a high bar. almost 30% for the year. any miss could be a bad thing but all positioned now. >> it is a high bar. you point out. been a great winter year-to-date. the action amazon postearnings, costco's pulled in a bit. two charts to put it in context to show how impre

says about the economy if it's rough, sometimes it's to the benefit of walmart, but jobless claims, whether we're inflecting higher or not, unemployment rate is now very much the benchmark of how we feel about the economy as opposed to inflation which is essentially taken care of. >> i'll be urprised, to be quite honest with you, if walmart comes out and has great things to see a month ago their cfo was at a conference and made reasonably -- [ inaudible ] [ closing bell ringing ] >> i look forward to seeing you tomorrow. we go out with 40,000 on the dow in overtime. >>> that's standard regulation hannifin ringing the closing bell at the new york stock exchange and the dow jumping and pulling back after a cooler inflation trend shows growth falling for the first time since 2021 and that is the scorecard on wall street, but the action is just getting started. >> welcome to "closing bell overtime," margaret brennan has the day off.

walmart, costco, tjx, amazon, by the way.yers that just eat more market share if things get tougher, but i think the broad base of the market may be in for some hurt. >> talk to us about one that is really not in that value space and that is lulu that comes out tomorrow. >> again, just spectacular merchant. i love gbuying their stuff, the quality is very high. but it's very expensive. and the problem with that, it doesn't play very well in a value-based world. so, where they run into a little bit of trouble, the discordance between what the consumer is looking for and their fantastic product they have, but at a very high price. so, i wouldn't want to pick what we're going to see tomorrow. they've been down sharply, and they've been raising prices, raising prices, and that's hurting people, even luxury brands, you know, have been hurt, someone like a burberry or something, where they raise their prices just too far and the market couldn't absorb it in this environment. >> and down 4.5% today. jerry, thank you. good to see you,

members of the walmart plus service. on top of a quarterly burger, walmart plus members will get 25% off all burger king digital orders. i'm hungry just talking about it. the company saying in a statement that the benefit for members paying the $98 a year subscription is designed to save members time and money, adding they wanted to offer a cost effective solution. it makes a difference. the 25% discount would be nice. it's the latest coupling between a major retailer and a food app. amazon has been teaming up with grubhub to waive delivery fees. the retailer gets a paid subscriber and the user saves on food. all kinds of restaurant companies are looking for more ways to give their loyalty. members value. the bottom line the biggest deal for consumers who have balked at rising costs for dining out. up 4.1% over the last year. prices are really, really high. earlier in the summer, brands like mcdonald's and wendy's extended offers like a $5 meal deal to entice diners back in. and the deal offers keep coming. subway announ

inflation under 3% for the first time in three years we will get another look into the consumer with walmartnings out in the next hour, were also watching cisco after the quarterly report and news that is cutting 7% of the workforce, jobless claims, import export prices all out this morning at 8:30 a.m. eastern. we will have those numbers, european markets are higher, take a look at the eurozone the s&p 100 and monday desire by a point, the cat caught his upper point and dax index in germany higher by 67 fractional moves in europe across the board. in asia overnight markets finish mostly higher, fractional moves as well in the overnight session on asian embassies, joy to the conversation strategic wealth partners ceo mark tepper, columnist and fox news contributor liz peek. "mornings with maria" is live right now. ♪. maria: time for the hot topic of the hour i knew fox news poll president trump leading here is by one point among independent voters, trump is winning by an 8% margin, 51 - 43 this is independent voters, trump is coming out on top on the top issues of the economy and border secu