On Thursday, August 17th, Walmart announced that Q2 earnings outperformed expectations and raised the company’s guidance for fiscal year 2024. Walmart noted Q2 upside and positive customer response to its value proposition. Gross profit rate increased 50 basis points as the company lapped higher markdowns and supply chain costs. Walmart U.S. gross profit growth was partially offset by an unfavorable product mix shifting 240 basis points from General Merchandise to Grocery and Health & Wellness.
Download the full Harvest Group Q2 2023 Walmart Earnings recap with takeaways for suppliers here:
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