The American Retail Chain Walmart it raised its forecast for annual sales and earnings because it anticipates an increase in demand for toys and clothing this holiday season, but disruptions in the global supply chain hit its margins in the third quarter.
The titles of the largest retailer in the world fell sharply -2.65% at a price of 143.01 dollars. Retailers have reported difficulties getting products to the United States before peak season due to shipping jams, factory closures in Asia and shortages of raw materials.
Walmart, which has been chartering its own vessels to move merchandise, said inventory in the United States had risen 11.5% before the year-end season. “We have the people, the products and the prices to offer a great Christmas season,” the firm said in a statement.
Analysts expect Walmart to have enough inventory for the season as shipments that have been delayed for months reach the United States: “Something that could have been a shortage of product could now be a surplus,” Marshal Cohen said, head of retail at NPD.
Walmart’s forecast comes weeks after rival e-commerce giant Amazon reported bleak outlook for the fourth quarter. Walmart also raised its sales forecast for the year to more than 6% higher than its previous forecast.
Adjusted earnings per share is expected to be around $ 6.40 versus the previous expected range of $ 6.20 to $ 6.35.
Reference-www.eleconomista.com.mx