After the intro period for purchases and balance transfers, the APR is 15.49% - 25.49% Variable. Cardholders also get a generous intro APR of 0% for 21 billing cycles on purchases. It doesn't just stop with balance transfers though. That could save you hundreds of dollars in interest! Your payments can go directly to paying down your balance without incurring a pile of additional charges. Transfer your high interest debt to this card with a 0% intro APR for 21 billing cycles for any qualifying balance transfers made in the first 60 days. If you want to kick high-interest credit card debt to the curb, this is one of the leading get-out-of-debt cards available. Sounds great - right? You could dramatically change your financial picture with this industry-leading low-interest card - the BankAmericard ® credit card. Online sales rose 17%.Imagine getting 21 billing cycles with 0% interest on a balance transfer or a big purchase. And Black Friday doorbusters, which typically drew massive crowds, were also exchanged for weeks-long discount events.Īt Walmart, comparable sales - those from established stores and online operating over the past 12 months - rose 8.3%, slightly higher than 8.2% from the previous quarter. Major retailers, including Walmart and Target, began offering discounts in October to help consumers spread out their spending. Overall, holiday sales in November and December rose a weaker-than-expected 5.3%, a slowdown from 13.5% in 2021, according to the National Retail Federation. Meanwhile, per-share earnings adjusted for one-time costs and benefits were $1.71, beating Wall Street expectations of $1.52. Profits reached $6.28 billion, up from $3.56 billion last year.
The company reported revenue of $164 billion in the quarter that ended on January 27, up 7.3% compared to the same period last year. Walmart CEO Doug McMillon noted the retailer also ended the quarter with its once-bloated inventory flat compared to last year, which he said was better than they anticipated. Meanwhile, the company saw a slight decline in general merchandise sales, such as toys, electronics, apparel and home items. December was the largest sales month in Walmart’s history, led by food sales, Rainey said. High-income shoppers looking for deals on groceries have also been flocking to its stores, and the company has said its looking to retain them by offering fresh food and clothing assortments. That shift, which began last March, accelerated more during the fourth quarter, executives said on the call Tuesday. The big-box retailer has noted shoppers have been watching how they spend and trading down to private brands in categories such as baking goods in order to save costs. But consumers are now focusing more on necessities like groceries, which left the company with a glut of excess inventory and dented profits it could make from high-margin discretionary merchandise. Walmart saw a boost during the pandemic as homebound shoppers spent more on discretionary items like décor to beautify their houses. Rainey said the company’s earnings projections are also based on other factors, such as expenses from more interest payments and its planned buyouts of South African retailer Massmart and the robotics firm Alert Innovation. “While the supply chain issues have largely abated, prices are still high and there is considerable pressure on the consumer,” said Chief Financial Officer John David Rainey on the call. Walmart executives told analysts on a call that their guidance reflects the unknowns in the economy as consumers face rising interest rates, delinquencies and are putting less money in their savings. Amazon, which reported strong fourth quarter sales earlier this month, has also warned about a slower growth period for the coming months. Shares rose less than 1% in early morning trading.Īlso on Tuesday, Home Depot posted strong profits in its final quarter of 2022, but a muted outlook for this year sank its shares before markets opened. Analysts surveyed by FactSet forecast $6.52 per share, on average. And it forecast adjusted earnings per share ranging from $5.90 to $6.05, excluding fuel. But it gave cautious guidance for the next fiscal year, saying it expects sales to increase between 2.5% to 3% and U.S.
The nation’s largest retailer also delivered full-year sales of $611.3 billion, up 6.7% compared to the prior year.
Though sales rebounded at stores and restaurants last month, showing shoppers are still spending despite higher prices and several interest rate hikes by the Federal Reserve in an effort to curb the problem. The report was a good showing for the company, considering consumers had cut back on their overall spending during the traditional November-December shopping period. NEW YORK (AP) - Walmart on Tuesday reported strong sales during the holiday season as budget-conscious consumers looking for better deals on groceries and other items flocked to its stores.
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