During a media briefing on Tuesday, Walmart Inc (WMT) announced that its customers would now be able to checkout faster at stores and navigate more easily by using digital maps showing the exact item locations. This has been Walmarts latest move intended to lure shoppers to spend more during the upcoming holiday season.
Walmart shares closed higher for a second consecutive trading session in New York on Tuesday. It has also been the sharpest daily surge since August 16th. The stock went up 2.63% ($2.62) to $102.42, after touching an intraday high at $102.59, or a price level not seen since February 16th ($104.94).
Shares of Walmart Inc have risen 3.72% so far in 2018 compared with a 0.34% gain for the benchmark index, S&P 500 (SPX).
In 2017, Walmart’s stock surged 42.87%, thus, it again outperformed the S&P 500, which registered a 19.42% return.
Walmart said the new “Check out with Me” feature would now enable clients to bypass the checkout lines and pay for purchased items in the respective product department.
In November and December the company plans to add a wider assortment of electronics, toys, fashion and home products in its stores as well as on its renovated website in an attempt to bolster sales.
The retailer also intends to offer free two-day shipping on orders valued at more than $35.
According to Scott Hilton, chief revenue officer, Walmart e-commerce, U.S., more than 2 000 brands have been added on-line. The companys website is to offer content ranging from a new deals hub to gift guides and the monthly Ellen’s List from talk show host Ellen DeGeneres, Hilton added.
During last years busy shopping season Walmart offered more holiday merchandise such as electronics, gifts and toys, but it had insufficient quantity of everyday items in stock, which hurt its sales on-line.
According to CNN Money, the 32 analysts, offering 12-month forecasts regarding Walmart Inc’s stock price, have a median target of $102.50, with a high estimate of $115.00 and a low estimate of $90.00. The median estimate represents a 0.08% upside compared to the closing price of $102.42 on October 30th.
The same media also reported that 20 out of 36 surveyed investment analysts had rated Walmart Inc’s stock as “Hold”, while 12 – as “Buy”.
Weekly Pivot Levels
By using the traditional method of calculation, the weekly levels of importance for Walmart Inc (WMT) are presented as follows:
Central Pivot Point – $98.24
R1 – $100.37
R2 – $101.80
R3 – $103.93
R4 – $106.06
S1 – $96.81
S2 – $94.68
S3 – $93.25
S4 – $91.82
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