Walmart is considered one of the leading retailers in the United States, with stores practically miles apart from one another. However, it appears that even with its immense reach, the chain is not immune to the effects of inflation.
The company recently reported a cut in its quarterly and full-year profit reports, stating that rising inflation is forcing consumers to spend money on important goods and less on fancy electronics and clothing. As a result, it’s gone to great lengths to eliminate the excess stock, with several markdowns.
Because of this report, the company’s stock managed to fall during the after-hours trading, and also affected other retailers, including Target and online titan Amazon.
The news isn’t entirely grim, as the company expects same-store sales to rise around 6 percent over the second quarter, mainly due to food purchases. But the real question is how inflation will continue to work against Walmart when it comes to selling other goods.
Here to discuss Walmart’s required changes with inflation is our guest, Steve Beaman, CEO of Elevare Club, a provider of services to small businesses.
Q&A:
- Everyone believed that Amazon and Walmart would be immune to inflation, but it appears that numbers are catching up to them. How do you believe it will affect them in the long-term?
- Is Walmart maybe putting too much reliance in selling clothing and electronics that everyone doesn’t necessarily need? Or will demand for them pick up as the year goes on and inflation possibly goes down?
- Do you believe the changes with inflation may cause retailers to continue increasing prices on food?
- How will inflation affect how Walmart sells electronics in the future? Do you believe it will continue to offer a variety of goods, or turn to an alternate plan (like online only)?
- Now that inflation is leaving a dent in big-box store business, how will smaller businesses fare? Will they need to focus on new tactics to make it in 2023 and beyond?
- Where may we get more information on what we discussed and your services? Answer: You can visit our website at ElevareClub.com!
Steve Beaman is a self-made millionaire who sunk to the depths of financial despair and rose back up to the heights of economic prosperity. Having enjoyed years of a happy marriage to falling into the depths of divorce, destruction, and despair, Steve has seen it all. Steve worked at Wharton Econometrics, Zacks Investment Research, and the E.F. Hutton Company. A founding partner of the Wall Street firm Chicago Investment Analytics, Steve sold the firm to Charles Schwab in 2000. Currently, Steve is CEO of Elevare Club, a holding company for a group of companies providing services for small businesses, including the capital, payment processing, accounting, legal, advertising, and even help in hiring. Steve is a licensed scuba diver, a private pilot, and the father of six children.
CONTACT: To schedule an interview with Steve Beaman, call Jerry McGlothlin at 919-437-0001 or email jerry@specialguests.com
