Shares closed Tuesday up 2.2% to $141.91.
The big-box retailer said more shoppers have headed to its stores and website to spend stimulus checks and to get ready to socialize again as Covid cases decline and vaccination rates rise.
E-commerce sales in the U.S. rose by 37%, even as consumers returned to more typical patterns. The retailer faced tough comparisons to the year-ago quarter, a time when shelter-in-place orders prompted customers to stock up on food and household items and make more purchases online.
Walmart Chief Financial Officer Brett Biggs said in an interview that the company is seeing pent-up demand and expects that to continue. He said customers are still buying items that were popular during the pandemic, such as bicycles and printers, but have also begun to purchase things like teeth whitener as they take off their masks.
Walmart is expected to give a progress report on the program when it reports earning on Tuesday. So far, the retailer has not shared subscriber numbers and that s unlikely to change this week but investors and analysts will listen to clues about whether the program is helping the retailer deepen relationships with its shoppers and sell them other kinds of services. Hanging on to market share and driving trips to the store has grown in importance, particularly as consumers get vaccinated and feel free to return to more typical pre-pandemic spending patterns.
Walmart+ is part of the retailer s plans to broaden its business beyond retail and use its reach to make money in other ways, from advertising and financial services to health-care. When customers sign up for the program, the retailer can learn more about their shopping list and preferences which they can then turn into customer benefits like personalized coupons and new revenue streams like targeted ads.
Walmart is expected to give a progress report on the program when it reports earning on Tuesday. So far, the retailer has not shared subscriber numbers and that s unlikely to change this week but investors and analysts will listen to clues about whether the program is helping the retailer deepen relationships with its shoppers and sell them other kinds of services. Hanging on to market share and driving trips to the store has grown in importance, particularly as consumers get vaccinated and feel free to return to more typical pre-pandemic spending patterns.
Walmart+ is part of the retailer s plans to broaden its business beyond retail and use its reach to make money in other ways, from advertising and financial services to health-care. When customers sign up for the program, the retailer can learn more about their shopping list and preferences which they can then turn into customer benefits like personalized coupons and new revenue streams like targeted ads.