CLAIM #63590 · Walmart Inc. (WMT) · 2023Q4 earnings call · Feb 21, 2023 · due Jan 31, 2024
“we expect some of those to be better.”
John Furner · CEO, Walmart U.S.
In context
“ributor to that was markdowns followed by mix. And so as we look at where we are today, with a much better position around inventory, and John, jump in if you disagree here, but I feel like this year will be more of a normal environment for markdowns. Or more -- certainly more normal than what it was last year. And to John's point, the mix impact is appreciably less than what the 300 basis points, a little more than 300 basis points last year. John Furner: Yes. This is the time last year. Just to remind you, back in February, March last year, we were really getting caught up from ocean backlogs and receiving product that should have been onshore as much as 6 months prior to it being unloaded. And the cost, the markdowns, the impact and everything, from store labor to creating overtime, we expect some of those to be better. However, down 3% of inventory, we're proud of that position. But there are still pockets of inventory in stores and some fulfillment centers and some categories like apparel where there's still more work to be done. So we want to make sure that we have room to address those things as we get into first half of the year. Operator: Our final question is from the line of Greg Melich with Evercore ISI. Gregory Melich: Really, I had a follow-up on the U.S. traffic trends and then on Sam's Club. For the U.S., it sounds like in that guide, the deceleration of the second half comp is all from less inflation, and that you still expect traffic to be up through the year. Just wanted to be sure that, that's fair. And second, on Sam's Club, any more insight in terms of the members you've won? A”
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SEC filings for WMT ↗ · Claim quote is verbatim from the 2023Q4 earnings call.