{"id":2247450,"date":"2024-05-18T11:43:02","date_gmt":"2024-05-18T15:43:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/walmart-sees-uptick-in-sales-but-dont-let-biden-gaslight-you-that-this-means-a-healthy-economy\/"},"modified":"2024-05-18T11:46:31","modified_gmt":"2024-05-18T15:46:31","slug":"walmart-sees-uptick-in-sales-but-dont-let-biden-gaslight-you-that-this-means-a-healthy-economy","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/walmart-sees-uptick-in-sales-but-dont-let-biden-gaslight-you-that-this-means-a-healthy-economy\/","title":{"rendered":"Walmart Reports Sales Increase, Despite Misleading Claims on Economic Health"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwalmart-sees-uptick-in-sales-but-dont-let-biden-gaslight-you-that-this-means-a-healthy-economy%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2247450&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The article discusses Walmart&#8217;s positive first-quarter earnings, attributing its success\u200c to a\u2063 strategic \u2063business model rather than overall economic health. Despite President \u2064Biden&#8217;s claims, Walmart&#8217;s growth is more\u200d a result of consumer behavior and the company&#8217;s initiatives. The narrative highlights the importance of public support for independent journalism. The article delves into Walmart&#8217;s robust first-quarter earnings, crediting its achievements\u200d to a well-thought-out business strategy rather than\u200d the general economic landscape. Contrary to President Biden&#8217;s assertions, Walmart&#8217;s expansion is driven by consumer\u2062 tendencies and\u2064 internal efforts. \u200dMoreover, the piece underscores the significance of backing independent journalism.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<header> <a href=\"https:\/\/www.westernjournal.com\/commentary\/\">  Commentary <\/a>  <\/p>\n<h2>Walmart Sees Uptick in Sales, But Don&#8217;t Let Biden Gaslight You That This Means a Healthy Economy<\/h2>\n<p> <span> <\/p>\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/aaltomari\/\">  <\/a> <\/p>\n<p> <span>   By <a href=\"https:\/\/www.westernjournal.com\/author\/aaltomari\/%20\"><span>Anthony Altomari<\/span><\/a> <\/span> <span>   May 18, 2024 at 8:09am <\/span> <\/span>  <\/header>\n<section>\n<p>Despite economic challenges, Walmart is staying ahead of the curve.<\/p>\n<p>The retail giant released its impressive first-quarter <a href=\"https:\/\/corporate.walmart.com\/news\/2024\/05\/16\/walmart-releases-q1-fy25-earnings\" target=\"_blank\" rel=\"noopener\">earnings report<\/a> on Friday, which showed growth across the board.<\/p>\n<p>Total revenue was equal to $161.5 billion, a 6 percent increase from its performance in the first quarter last year. <a href=\"https:\/\/www.westernjournal.com\/walmart-begins-major-round-layoffs-employee-relocation\/\" target=\"_blank\" rel=\"noopener\">Walmart<\/a> also saw its net sales and adjusted operating income increase by 5.9 percent and 13.7 percent, respectively.<\/p>\n<p><a href=\"https:\/\/www.barrons.com\/news\/walmart-profits-rise-on-strong-sales-from-wealthier-shoppers-77266f99\" target=\"_blank\" rel=\"noopener\">Barron\u2019s<\/a> also reported that increased purchases by wealthy shoppers and an increase in <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/disney-closing-60-bricks-and-mortar-stores\/\" title=\"Disney Closing 60 Bricks-And-Mortar Stores\">e-commerce sales<\/a> are also driving Walmart\u2019s sales up. The company reported that global e-commerce sales increased year-over-year by 21 percent.<\/p>\n<p>Walmart has been battling with eCommerce giant <a href=\"https:\/\/www.westernjournal.com\/ap-amazon-investigation-self-driving-vehicle-units\/\" target=\"_blank\" rel=\"noopener\">Amazon<\/a> over the past few years, in an attempt to reach a wider crowd. These figures suggest Walmart\u2019s efforts haven\u2019t been in vain.<\/p>\n<p>Walmart\u2019s shareholders should also be pleased, as the company\u2019s adjusted earnings per share increased by 22.4 percent.<\/p>\n<p>\u201cOur team delivered a great quarter. Around the world, our goal is simple \u2013 we\u2019re focused on saving our customers both money and time,\u201d Walmart President and CEO Doug McMillon said in the company\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/pedestal-where-robert-e-lee-statue-stood-to-be-taken-down-land-transferred-to-city-of-richmond\/\" title=\"Pedestal Where Robert E. Lee Statue Stood To Be Taken Down, Land Transferred To City Of Richmond\">news release announcing<\/a> the earnings report.<\/p>\n<p>Walmart executives acknowledged that, although their team performed well, increasing costs and economic constraints are driving people to spend less on things such as eating out, and more on stores like Walmart.<\/p>\n<p>\u201cIt\u2019s roughly 4.3 times more expensive to eat out than it is to eat at home,\u201d Walmart Chief Financial Officer John David Rainey said to <a href=\"https:\/\/www.cnbc.com\/2024\/05\/16\/walmart-earnings-grocery-sales-rise-as-fast-food-prices-increases.html\" target=\"_blank\" rel=\"noopener\">CNBC.<\/a> \u201cAnd that\u2019s benefiting our business.\u201d<\/p>\n<div id=\"firefly-poll-container\">\n<p>Will the economy continue to worsen under Biden?<\/p>\n<\/p><\/div>\n<p>\u201cWe\u2019ve got customers that are coming to us more frequently than they have before and newer customers that we haven\u2019t traditionally had, and they\u2019re coming into a Walmart whether it\u2019s a virtual store online, or whether it\u2019s one of our physical stores,\u201d Rainey said.<\/p>\n<p><a href=\"https:\/\/www.cnbc.com\/2024\/05\/16\/walmart-wmt-q1-2025-earnings-.html\" target=\"_blank\" rel=\"noopener\">CNBC<\/a> also reported that Walmart\u2019s stock rose to an all-time high on Thursday, closing at $64, as it beat out its quarterly earnings and revenue expectations.<\/p>\n<p>At Thursday\u2019s close, Walmart\u2019s <a href=\"https:\/\/www.westernjournal.com\/report-members-congress-made-eye-watering-amount-stock-2023-10-million-average\/\" target=\"_blank\" rel=\"noopener\">stock<\/a> was up about 22 percent since the start of the year, CNBC reported.<\/p>\n<p>When looking at Walmart\u2019s performance, it may seem like, as President Joe Biden has been preaching, the economy is improving. Biden has consistently held that economic worries are overstated.<\/p>\n<p>He <a href=\"https:\/\/www.cnn.com\/2024\/05\/08\/politics\/cnn-interview-joe-biden-what-matters\/index.html\" target=\"_blank\" rel=\"noopener\">told<\/a> CNN earlier this month that he\u2019s already turned the economy around and that \u201cthe polling data has been all wrong\u201d in showing that people trust former President Donald Trump\u2019s economic record more than Biden\u2019s.<\/p>\n<p>The president went on to claim that many Americans are \u201cpersonally in good shape,\u201d and that \u201cthey have the money to spend.\u201d<\/p>\n<p>Although Walmart had an impressive first quarter, it doesn\u2019t show evidence that the economy is strong, as the president may suggest.<\/p>\n<p>The gains are more indicative of Walmart\u2019s business model than the state of the economy. CNBC noted that Walmart hasn\u2019t been affected by inflation as much as other retailers, given that groceries account for more than 60 percent of its U.S. sales, and such sales do not decrease as drastically as sales in non-essential areas such as electronics and apparel.<\/p>\n<p>Rainey indicated as much to CNBC, saying that shoppers have bought less general merchandise like electronics and apparel, as they prioritize their paychecks on feeding themselves and their families.<\/p>\n<p>McMillon also indicated that the expansion of the company\u2019s online business is a primary factor in increasing sales, although Walmart is trying to encourage shoppers to spend in departments that are more profitable for the company.<\/p>\n<p>\u201cWe punched below our weight on general merchandise, specifically in apparel and home, for a really long time, maybe forever, and I think the progress we\u2019re seeing right now is driven by the in-store remodels and e-commerce,\u201d McMillon said.<\/p>\n<p>Walmart is also trying to appeal to younger and wealthier families by introducing a new private-label grocery brand, Bettergoods, CNBC <a href=\"https:\/\/www.cnbc.com\/2024\/04\/30\/walmart-launches-new-grocery-brand-bettergoods.html\" target=\"_blank\" rel=\"noopener\">reported<\/a>. Products will typically cost under $15, but will offer more diverse flavor and nutrient options, such as plant-based and dairy-free products, with the goal to increase profit margins in the company\u2019s highest-performing area.<\/p>\n<p>Walmart\u2019s efforts at expanding its business in areas that benefit the public, coupled with the company\u2019s ability to provide less expensive goods, are what\u2019s really driving sales up, not an impending economic boom.<\/p>\n<p>In fact, it\u2019s precisely because the <a href=\"https:\/\/www.westernjournal.com\/apples-latest-quarterly-report-shows-not-even-tech-titans-immune-ravages-economy\/\" target=\"_blank\" rel=\"noopener\">economy<\/a> is doing poorly that Walmart is seeing growth.<\/p>\n<p>And even if Biden might suggest the opposite, Americans aren\u2019t siding with him. Seventy percent of Americans believe that economic conditions in the U.S. are poor, according to a CNN <a href=\"https:\/\/www.cnn.com\/2024\/04\/28\/politics\/cnn-poll-trump-biden-matchup\/index.html\" target=\"_blank\" rel=\"noopener\">poll<\/a> conducted by SSRS last month.<\/p>\n<p>Walmart even admitted that its growth is attributable to the company\u2019s low prices, as people have started to swap going out to restaurants for cooking at home, given how expensive the former has become.<\/p>\n<p>So, no, Walmart\u2019s first quarter performance does not show that Biden\u2019s economic strategy is working. Rather, it\u2019s because of the president\u2019s poor economic strategy that Walmart saw the growth it did.<\/p>\n<p>Once growth like Walmart\u2019s is seen across multiple industries, then we can have an actual cause for celebration.<\/p>\n<hr>\n<div>\n<p><b><i>A Note from Our Deputy Managing Editor:<\/i><\/b><\/p>\n<p><i><span>I heard a chilling comment the other day: \u201cWe don\u2019t even know if an election will be held in 2024.\u201d <\/span><\/i><\/p>\n<p><i><span>That wasn\u2019t said by a conspiracy theorist or a doomsday prophet. No, former U.S. national security advisor Lt. Gen. Michael Flynn said that to the founder of The Western Journal, Floyd Brown.<\/span><\/i><\/p>\n<p><i><span>Gen. Flynn\u2019s warning means that the 2024 election is the most important election for every single living American. If we lose this one to the wealthy elites who hate us, hate God, and hate what America stands for, we can only assume that 248 years of American history and the values we hold dear to our hearts may soon vanish.<\/span><\/i><\/p>\n<p><i><span>The end game is here, and as Benjamin Franklin said, \u201cWe must all hang together, or assuredly we shall all hang separately.\u201d<\/span><\/i><\/p>\n<p><i><span>All of this means that <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>without you<\/span><\/i><\/a><i><span>, it\u2019s over. We have the platform, the journalists, and the experience to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/desantis-rises-as-he-promises-hes-only-begun-to-fight-put-on-full-armor-of-god-to-fight-the-left\/\" title=\"DeSantis Rises As He Promises He\u2019s \u2018Only Begun To Fight\u2019: \u2018Put On Full Armor Of God\u2019 To Fight The Left\">fight back hard<\/a>, but Big Tech is strangling us through advertising blacklists, shadow bans, and algorithms. Did you know that we\u2019ve been blacklisted by 90% of advertisers? Without direct support from you, our readers, we can\u2019t continue the fight.<\/span><\/i><\/p>\n<p><i><span>Can we count on <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>your support<\/span><\/i><\/a><i><span>? It may not seem like much, but a <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>Western Journal Membership<\/span><\/i><\/a><i><span>  can make all the difference in the world because when you support us directly, you cut Big Tech out of the picture. They lose control. <\/span><\/i><\/p>\n<p><i><span>A monthly Western Journal Membership costs less than one coffee and breakfast sandwich each month, and it gets you access to ALL of our content \u2014 news, commentary, and premium articles. You\u2019ll experience a radically reduced number of ads, and most importantly you will be vitally supporting the fight for America\u2019s soul in 2024.<\/span><\/i><\/p>\n<p><i><span>We are literally counting on you because without our members, The Western Journal would cease to exist. Will you <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>join us<\/span><\/i><\/a><i><span>  in the fight? <\/span><\/i><\/p>\n<p><i><span>Sincerely,<\/span><\/i><\/p>\n<p><i><span>Josh Manning<\/span><\/i><\/p>\n<p><i><span>Deputy Managing Editor<\/span><\/i><\/p>\n<p><i><span>The Western Journal<\/span><\/i><\/p>\n<\/p><\/div>\n<div id=\"author-info-45807\">\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/aaltomari\/\">  <\/a> <\/p>\n<div>\n<p><label for=\"summary-tab-radio-45807\">Summary<\/label><label for=\"more-info-tab-radio-45807\">More<span> Biographical Information<\/span><\/label><label for=\"posts-tab-radio-45807\">Recent<span> Posts<\/span><\/label><label for=\"contact-tab-radio-45807\" onclick=\"if( typeof grecaptcha=='undefined' ) { let cap_s=document.createElement( 'script' ); cap_s.src='https:\/\/www.google.com\/recaptcha\/api.js?render=6LeJFcsUAAAAAPsIEqvB1EebWbZfqRUe6ebMpGy7'; document.body.appendChild( cap_s ); }\">Contact<\/label><\/p>\n<div>\n<p>Anthony Altomari is a commentary writer for the Western Journal. He focuses his writing on culture and politics.<\/p>\n<\/p><\/div>\n<div>\n<p>  Anthony Altomari is a commentary writer for the Western Journal. He focuses his writing on culture and politics. <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite economic challenges, Walmart stays ahead by reporting impressive first-quarter earnings, showing overall growth. Disregard any misleading notions that this indicates a healthy economy<\/p>\n","protected":false},"author":2570,"featured_media":2247451,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/05\/walmart.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-2247450","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/05\/walmart.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2247450","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2570"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2247450"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2247450\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2247451"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2247450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2247450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2247450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}