Walmart Inc. (NYSE:WMT) 2025 Oppenheimer Consumer Growth & E-Commerce Conference June 9, 2025 2:15 PM ET
Company Participants
John David Rainey – Executive VP & CFO
Conference Call Participants
Rupesh Dhinoj Parikh – Oppenheimer & Co. Inc., Research Division
Rupesh Dhinoj Parikh
Good afternoon, everyone, and thank you for joining us at Oppenheimer’s 25th Annual Consumer Growth and E-Commerce Conference. My name is Rupesh Parikh. I’m the Senior Food, Grocery and Consumer Products Analyst here at Oppenheimer.
I’m very excited to introduce our next presenting company, Walmart. After major outperformance and gains in 2024, Walmart shares are up about 8% year-to-date, outperforming a modest increase in the S&P 500. We remain very upbeat toward the company’s prospects, including the potential for outsized profit growth to continue in the coming years. So joining us are John David Rainey, EVP and CFO; and Kary Brunner, Senior Director II of Investor Relations. So thank you all for being here today. The format of today’s session will be a fireside chat. I’ll go through a number of questions that I prepared. And with that, let’s get started.
Question-and-Answer Session
Rupesh Dhinoj Parikh
So John David, I’d like to kick it off on the U.S. consumer. So in Q1, top line strength continued at Walmart U.S. with a 4.5% comp increase. On the positive side, you saw momentum in grocery and health and wellness. And you noted that consumers are still responding to key seasonal moments and events.
However, on the negative side, you did see some softness in the general merchandise category, particularly at the start of the quarter. So how would you describe the overall health of your U.S. consumer as we sit here today? And then what are you planning for on the consumer front for the balance of the year?
John
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