News about WMT

Walmart is rolling out a combined membership bundle that gives access to both Walmart+ and Sam’s Club Plus for $120 a year, nearly $100 less than buying the two separately. The bundle equals $10 per month but is available only as an annual plan, with no monthly option or free trial. CEO John Furner said the company wanted to launch before the holiday season, when many households look to save money and time, noting that some customers are showing signs of pressure, especially from higher energy costs. The bundle competes with Amazon Prime, which costs $139 annually.

Walmart is poised to raise at least US$6 billion through U.S. and Canadian dollar bonds, diversifying its funding sources amid a spending spree. The company issued $5 billion (US$3.56 billion) in its debut Canadian-dollar notes and priced US$3 billion of U.S. dollar bonds, with demand for the U.S. offering exceeding US$14 billion at its peak. Analysts estimate Walmart's spending could hit a record US$29 billion next year, while about US$3.3 billion of its bonds mature in that period. Bloomberg Intelligence analysts say the retailer aims to capture more household spending as inflation and higher gas prices squeeze budgets.

Deutsche Bank upgraded Walmart (WMT) to Buy from Neutral, with analyst Krisztina Katai saying the current inflationary environment should reinforce Walmart's value proposition and support accelerated share gains. The September Consumer Price Index rose 3.7% year over year, up from 3.4% in August, while grocery prices rose 1.8% but were roughly flat month over month. Walmart stock rose about 3% in premarket trading. In the second quarter, U.S. same-store sales grew 2.6%, the slowest since Q4 of 2020, while private-label brands' share of sales rose 1.3 percentage points year over year.