Tag Archives: Walmarts

Walmart CEO Doug McMillon has talked up the retail company’s generative AI search capabilities, one more threat to Alphabet’s internet dominance. Alphabet has been among the big tech losers in the stock market this year, alongside Apple, both struggling to tell investors winning AI stories. Google founder Sergey Brin recently conceded missteps in gen AI but said the company will figure out the right business models; analysts say online retailers will be more competitive in search within their… Source link

Walmart (WMT) is weighing bundling a streaming service into its Walmart+ membership program. According to The New York Times, the big box retailer met with executives from Paramount (Paramount+, Showtime), Disney (Disney+, Hulu and ESPN+), and Comcast (Peacock) to discuss potential partnerships. In a statement provided to Yahoo Finance, Walmart said it would “not be commenting on speculation.” Nevertheless, the move would be a strategic shift as the company looks to forge ahead in the retail… Source link

Walmart’s second earnings warning of 2022 says a great deal about the financial stresses U.S. consumers are increasingly seeing amid sky-high inflation, a bear market in stocks, and lofty gas prices. The world’s largest retailer slashed its second-quarter and full-year profit outlooks late Monday owing to rampant inflation and a consumer retrenchment for discretionary items such as apparel. Walmart now sees full-year earnings tanking 11% to 13% compared to a prior estimate for a 1% drop. “This… Source link

Full stop, Jet.com founder and former Walmart U.S. e-commerce wizard Marc Lore is trying to shake up the world.  And that’s where Yahoo Finance found Lore on a recent Wednesday afternoon, somewhere between executing on big, bold new ideas (food delivery startup Wonder plus city of the future Telosa), mapping out a vision for basketball teams Minnesota Timberwolves and Minnesota Lynx (which he now partly owns with former baseball star Alex Rodriguez) and having a little fun on Twitter… Source link

Walmart “flexed its muscles” in an inflationary environment with a solid third quarter out on Tuesday, says Jefferies analyst Stephanie Wissink.  But the world’s largest retailer also posed in front of fierce rival Amazon (AMZN) by adding a significant number of new third-party sellers to its Walmart.com business. Walmart (WMT) said it added about 21 million new items to its online marketplace in the third quarter.  Growing its marketplace business to take on Amazon’s dominant position has… Source link

Walmart U.S. e-commerce chief Marc Lore is waving goodbye to a behemoth of a digital business he helped supercharge in under five years. The company said on Friday that Lore will retire on Jan. 31 and will remain as a strategic adviser through September. Lore’s new mission — though offering just a few details in an interview with Yahoo Finance —will be to take cities around the world to the next level. Presumably given Lore’s tech-heavy resume, that means a focus on accelerating the… Source link