Tuesday morning, Walmart surprised the market by surpassing the updated guidance they provided in Q2: the company’s Q3 results showed stronger topline results, with a bottom line that is starting to improve. Walmart’s stock rose more than $10 per share (7.6%) in the hours following market open, indicating investor confidence in the retailer’s performance. On the call, leaders repeatedly emphasized that they will begin working with suppliers to reduce prices across the box. Based on their strong performance in Q3, the company raised their guidance for the full fiscal year but left guidance for Q4 low to provide flexibility to take pricing actions against inventory as needed.
Download Harvest Group’s full Walmart Q3 2022 Report with unique takeaways for suppliers here: