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Walmart Says It’s Not Lowering Forecast Because of Coronavirus Walmart Says It’s Not Lowering Forecast Because of Coronavirus
(4 months later)
Walmart said on Tuesday that while it continued to monitor the coronavirus outbreak in China and around the world, the company was not lowering its sales forecast for this year.Walmart said on Tuesday that while it continued to monitor the coronavirus outbreak in China and around the world, the company was not lowering its sales forecast for this year.
The world’s largest retailer released the announcement with its fourth-quarter earnings, one day after Apple warned of a slowdown. Apple had said its supply of iPhones was hampered because the factories in China where they are made were not resuming production as quickly as expected. Apple also said demand for its smartphones in China had been hurt because the virus outbreak had forced the company to close all 42 of its stores.The world’s largest retailer released the announcement with its fourth-quarter earnings, one day after Apple warned of a slowdown. Apple had said its supply of iPhones was hampered because the factories in China where they are made were not resuming production as quickly as expected. Apple also said demand for its smartphones in China had been hurt because the virus outbreak had forced the company to close all 42 of its stores.
At an investor conference on Tuesday morning in New York, Walmart executives said sales at the company’s 430 stores in China had not faltered, even during the quarantine, as customers turned to the retailer to buy food and necessities. Walmart is also invested in a grocery delivery venture in China that has continued to make home deliveries during the outbreak.At an investor conference on Tuesday morning in New York, Walmart executives said sales at the company’s 430 stores in China had not faltered, even during the quarantine, as customers turned to the retailer to buy food and necessities. Walmart is also invested in a grocery delivery venture in China that has continued to make home deliveries during the outbreak.
Still, the company’s chief financial officer, Brett Biggs, cautioned that the coronavirus situation was still too “fluid” to make any definitive pronouncements about how it could play out for Walmart. Mr. Biggs said it was possible that the fallout from the virus could have a “couple of cents negative impact” on earnings per share in the coming quarters.Still, the company’s chief financial officer, Brett Biggs, cautioned that the coronavirus situation was still too “fluid” to make any definitive pronouncements about how it could play out for Walmart. Mr. Biggs said it was possible that the fallout from the virus could have a “couple of cents negative impact” on earnings per share in the coming quarters.
The virus’s impact on Walmart’s supply chain is also uncertain, but the retailer’s executives suggested that the effect could be more muted than at other companies.The virus’s impact on Walmart’s supply chain is also uncertain, but the retailer’s executives suggested that the effect could be more muted than at other companies.
If the coronavirus continues to idle factories over the next few months, Walmart said there could be some “impact on shipping.” But Walmart also stressed that two-thirds of the products it sells — which now consist primarily of food — are sourced from the United States. The other third comes from countries like China, other parts of Asia and Mexico.If the coronavirus continues to idle factories over the next few months, Walmart said there could be some “impact on shipping.” But Walmart also stressed that two-thirds of the products it sells — which now consist primarily of food — are sourced from the United States. The other third comes from countries like China, other parts of Asia and Mexico.
Walmart declined to specify how many of its goods were made in China, but Wells Fargo analysts recently estimated that 15 percent of its merchandise came from that country. Other retailers, like Target and Best Buy, have much higher exposure to Chinese manufacturing.Walmart declined to specify how many of its goods were made in China, but Wells Fargo analysts recently estimated that 15 percent of its merchandise came from that country. Other retailers, like Target and Best Buy, have much higher exposure to Chinese manufacturing.
Walmart was one of the first American companies to source its merchandise in China. But as the Chinese economy has evolved, the cost of manufacturing there has increased, prompting companies like Walmart to source their goods in less costly countries.Walmart was one of the first American companies to source its merchandise in China. But as the Chinese economy has evolved, the cost of manufacturing there has increased, prompting companies like Walmart to source their goods in less costly countries.
China’s importance is its consumers. Walmart opened its first store there in 1996. Although its network of stores in China is not as large as its footprint in other markets, Walmart has made big investments in online shopping in the country.China’s importance is its consumers. Walmart opened its first store there in 1996. Although its network of stores in China is not as large as its footprint in other markets, Walmart has made big investments in online shopping in the country.
Walmart owns a minority stake in JD.com, one of China’s leading e-commerce players. The two companies recently invested together in a grocery delivery start-up. Walmart said on Tuesday that its assumptions of the value of its equity stake in JD had not changed.Walmart owns a minority stake in JD.com, one of China’s leading e-commerce players. The two companies recently invested together in a grocery delivery start-up. Walmart said on Tuesday that its assumptions of the value of its equity stake in JD had not changed.
Analysts who gathered for Walmart’s investors’ day in New York seemed to shrug off concerns about China, focusing instead on the company’s lackluster results in the fourth quarter.Analysts who gathered for Walmart’s investors’ day in New York seemed to shrug off concerns about China, focusing instead on the company’s lackluster results in the fourth quarter.
Walmart said its holiday sales were “a little softer than expected,” leading to a rare miss of its revenue and sales targets in its most recent quarter.Walmart said its holiday sales were “a little softer than expected,” leading to a rare miss of its revenue and sales targets in its most recent quarter.
The retailer said its same-store sales in the United States grew 1.9 percent during the quarter, which ended Jan. 31. That was lower than the 2.3 percent that Wall Street analysts had expected. The company’s adjusted earnings per share of $1.38 were less than the $1.43 it had forecast, while revenue was $141.7 billion, slightly less than Wall Street’s expectation of $142.5 billion.The retailer said its same-store sales in the United States grew 1.9 percent during the quarter, which ended Jan. 31. That was lower than the 2.3 percent that Wall Street analysts had expected. The company’s adjusted earnings per share of $1.38 were less than the $1.43 it had forecast, while revenue was $141.7 billion, slightly less than Wall Street’s expectation of $142.5 billion.
Updated June 12, 2020
Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks.
So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement.
A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study.
The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April.
Mass protests against police brutality that have brought thousands of people onto the streets in cities across America are raising the specter of new coronavirus outbreaks, prompting political leaders, physicians and public health experts to warn that the crowds could cause a surge in cases. While many political leaders affirmed the right of protesters to express themselves, they urged the demonstrators to wear face masks and maintain social distancing, both to protect themselves and to prevent further community spread of the virus. Some infectious disease experts were reassured by the fact that the protests were held outdoors, saying the open air settings could mitigate the risk of transmission.
Exercise researchers and physicians have some blunt advice for those of us aiming to return to regular exercise now: Start slowly and then rev up your workouts, also slowly. American adults tended to be about 12 percent less active after the stay-at-home mandates began in March than they were in January. But there are steps you can take to ease your way back into regular exercise safely. First, “start at no more than 50 percent of the exercise you were doing before Covid,” says Dr. Monica Rho, the chief of musculoskeletal medicine at the Shirley Ryan AbilityLab in Chicago. Thread in some preparatory squats, too, she advises. “When you haven’t been exercising, you lose muscle mass.” Expect some muscle twinges after these preliminary, post-lockdown sessions, especially a day or two later. But sudden or increasing pain during exercise is a clarion call to stop and return home.
States are reopening bit by bit. This means that more public spaces are available for use and more and more businesses are being allowed to open again. The federal government is largely leaving the decision up to states, and some state leaders are leaving the decision up to local authorities. Even if you aren’t being told to stay at home, it’s still a good idea to limit trips outside and your interaction with other people.
Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days.
If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.)
Taking one’s temperature to look for signs of fever is not as easy as it sounds, as “normal” temperature numbers can vary, but generally, keep an eye out for a temperature of 100.5 degrees Fahrenheit or higher. If you don’t have a thermometer (they can be pricey these days), there are other ways to figure out if you have a fever, or are at risk of Covid-19 complications.
The C.D.C. has recommended that all Americans wear cloth masks if they go out in public. This is a shift in federal guidance reflecting new concerns that the coronavirus is being spread by infected people who have no symptoms. Until now, the C.D.C., like the W.H.O., has advised that ordinary people don’t need to wear masks unless they are sick and coughing. Part of the reason was to preserve medical-grade masks for health care workers who desperately need them at a time when they are in continuously short supply. Masks don’t replace hand washing and social distancing.
If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others.
If you’re sick and you think you’ve been exposed to the new coronavirus, the C.D.C. recommends that you call your healthcare provider and explain your symptoms and fears. They will decide if you need to be tested. Keep in mind that there’s a chance — because of a lack of testing kits or because you’re asymptomatic, for instance — you won’t be able to get tested.
The company blamed its disappointing results on political turmoil in Chile, as well as “softness” in a few general merchandise categories in its United States stores.The company blamed its disappointing results on political turmoil in Chile, as well as “softness” in a few general merchandise categories in its United States stores.
“Sales leading up to Christmas in our U.S. stores were a little softer than expected,” Doug McMillon, chief executive of Walmart, said in a statement.“Sales leading up to Christmas in our U.S. stores were a little softer than expected,” Doug McMillon, chief executive of Walmart, said in a statement.
The one bright spot in the quarter was record sales growth in e-commerce of 35 percent. The company’s shares were up 1.5 percent at the close of trading on Tuesday.The one bright spot in the quarter was record sales growth in e-commerce of 35 percent. The company’s shares were up 1.5 percent at the close of trading on Tuesday.