Walmart lifts outlook, plans listing shift to the Nasdaq
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The news: Walmart raised its annual forecasts for the second time this year amid surging online sales and announced plans to shift its listing to the Nasdaq from the New York Stock Exchange.
The numbers: Walmart’s Q3 FY26 earnings and revenue beat expectations and said that it now expected full-year net sales to climb between 4.8% and 5.1%, above its previous expectations of 3.75% to 4.75%. The retailer said it expects adjusted earnings per share to reach USD2.58 to USD2.63, a lift on its prior range of USD2.52 to USD2.62.
Revenue rose 5.8% to USD179.5 billion during the quarter, ahead of forecasts of USD177.4 billion.
The context: The strong results are set to ease concerns about a consumer pullback as the job market cools and prices continue rising. Walmart is widely seen as an economic bellwether given its large size and footprint.
President and CEO Doug McMillon said: “eCommerce was a bright spot again this quarter. We’re gaining market share, improving delivery speed, and managing inventory well. We’re well positioned for a strong finish to the year and beyond that, thanks to our associates.”
McMillon, who announced that he is stepping down in February last week said “I’m as excited about the future of this company as I’ve ever been. John Furner is a fantastic leader with a proven track record. I couldn’t be happier for him and for Walmart.”
Walmart said it will transfer the listing of its common stock to the Nasdaq to being trading there on 9 December, where it will retain the same ticker ‘WMT’.
