The world's largest retailer - Walmart, will release its earnings today.

The world's largest retail giant is scheduled to release its Q1 earnings before the market opens today.

Walmart - The largest retail chain in the U.S. and the world, with more than 10,500 stores in
19 countries. The company employs a total of 2.1 million associates, of which 1.6 million are in the United States alone. For the past 3 years, Walmart's annual sales have consistently exceeded $500 billion.

Projected financials for Q1 2024:

• EPS are expected to fall (-64% YoY) to $0.52 while revenue is expected to increase (+4.77% YoY) to $159.57 billion

The markets imply a 4.06% move in Walmart's share price on the day of the company's earnings announcement.

Recent Developments

Walmart is actively working to better reorganize and expand its business.

Yesterday, the company has announced plans to lay off and relocate hundreds of its corporate employees, some of whom may be transferred to Walmart's headquarters in Arkansas (Bentonville).

Earlier this month, the company also decided to exit its primary care business by closing the chain of 51 clinics along with telemedicine services.

Despite the previously mentioned cost-cutting efforts, the company is actively investing in other segments. Earlier in February this year, the company has announced plans to acquire Vizio, a television manufacturer, for $2.3 billion in an effort to boost its advertising efforts.

Among other things,

• 1.4K of its U.S. stores are scheduled for remodeling
   
• Earlier this year, the company launched a new proprietary grocery brand with most items priced under $5.