Walmart 2018 Investment Community Meeting: Management Stresses Execution, Innovation, Unique Assets and Operating Discipline

Executive Summary

Walmart hosted its 2018 Investment Community Meeting in Bentonville, Arkansas, on October 16. Key messages from the presentations made at the meeting include:

• Execution: Management cited 16 consecutive quarters of positive comps as evidence of its momentum and said that investments made over the past few years are paying off.
• Unique assets: The company has built a portfolio of assets that include shopping, social media and loyalty, financial services, health and wellness, digital entertainment, advertising, logistics and home and personal services.
• Reduced earnings guidance due to acquisition of Flipkart: The company reduced its FY19 adjusted earnings per share (EPS) guidance to $4.65–$4.80 from $4.90–$5.05 previously. Walmart expects comparable sales of 2.5%–3% and e-commerce net growth of 35% in FY2019.