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Cramer: Walmart Q1 execution â€˜embarrassingâ€™
Walmart, the world’s largest retailer, recently released its Q1 earnings report, and the results were not impressive. The company’s revenue fell short of expectations, and its online sales growth slowed down significantly. Jim Cramer, the host of CNBC’s “Mad Money,” called Walmart’s Q1 execution “embarrassing.”
Cramer pointed out that Walmart’s revenue growth was only 2.7%, which was lower than the expected 3.3%. He also noted that the company’s online sales growth was only 37%, compared to 74% in the previous quarter. Cramer said that Walmart’s online sales growth was “pathetic” and that the company was “losing the e-commerce war.”
Cramer also criticized Walmart’s decision to raise its minimum wage to $15 per hour. He said that the move was “political” and that it would hurt the company’s profitability. Cramer argued that Walmart should focus on improving its online sales and customer experience instead of raising wages.
Despite his criticism, Cramer still believes that Walmart is a good investment. He said that the company has a strong balance sheet and a solid dividend yield. However, he warned that Walmart needs to improve its execution and online sales growth if it wants to compete with Amazon and other e-commerce giants.
In conclusion, Walmart’s Q1 earnings report was disappointing, and Jim Cramer called the company’s execution “embarrassing.” While Walmart is still a good investment, it needs to improve its online sales growth and customer experience if it wants to compete with Amazon and other e-commerce giants.