Topic

WMT

A collection of 6 issues

Groceries, Aggregators, and Agents

Just over two and a half decades after Walmart was founded, the company entered the grocery industry in 1988 and then in just thirteen years after getting into this business, Walmart became the largest grocery player in the US.

Walmart’s Evolution

After posting 4%+ same store sales growth in the US for eight consecutive quarters, Walmart’s comp numbers last quarter surprised investors a bit as it came to be only 2.6% in Q2 FY27. During the call, management flagged their health & wellness (H&W) segment as the primary culprit for the poor comp.

Walmart’s Trillion-Dollar Mojo

Walmart was the most recent member in the trillion dollar club companies. After coming to IPO in 1970, it took them almost 54 years to reach half a trillion dollar of Enterprise Value (EV).

Walmart and Target CY 3Q'25 Earnings

It is a bit strange co-incidence, but CY3Q’25 was the last earnings call for both the current CEOs of Walmart and Target. However, the backdrop in which they are passing down the baton to the next person perhaps couldn’t be any more different.

Walmart and Target Earnings

Walmart and Target announced their earnings this week and while I don’t follow these businesses rigorously, going through their earnings simultaneously was an interesting exercise.

Amazon's Ambition in Groceries: Part 1

Back in 2023, Terry Smith from Fundsmith wrote the following as their rationale to exit their position in Amazon (emphasis mine): Relatively new CEO Andy Jassy enunciated some principles of investment which investment projects had to have, namely: 1.