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To improve product mix, we're focused on increasing sales penetration in higher-margin categories like apparel and home
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2024 Q1
23 May 23
February was stronger and March and April were a bit of a tick down, and that follows some of the trends that we saw and other consumer behavior related to like SNAP benefits, tax refunds and such
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2024 Q1
23 May 23
consumer sentiment, if you look externally, is better than it was, not all the way to bright yet pre-COVID
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2024 Q1
23 May 23
What happened is actually everybody went home into the more rural areas. And our team had to pivot completely within a 10-day window and reallocate all of the inventory that we had around the country.
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2024 Q1
23 May 23
we had all of our product positioned for a Chinese New Year event based in the cities where most people were
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2024 Q1
23 May 23
We're certainly seeing an uptick in that for us that comes at a lower margin
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2024 Q1
23 May 23
The thing that I will say that's different this year is it's not just a shift to food and consumables, we've also seen in the first quarter a shift to health and wellness more.
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2024 Q1
23 May 23
as we got into the back half of the year, consumer pocket books were continuing to be stretched
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2024 Q1
23 May 23
I think it was most pronounced in the mid part of last year, where we saw the effect of that
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2024 Q1
23 May 23
mix is going to continue to be an impact on us this year
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2024 Q1
23 May 23
There continues to be a great deal of uncertainty looking out over the balance of this year as macro pressures on the consumer have gradually intensified.
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2024 Q1
23 May 23
We expect category mix to remain a gross margin headwind for the balance of FY 2024.
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2024 Q1
23 May 23
customers are being cautious with their spend in discretionary categories
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2024 Q1
23 May 23
Category mix was a notable headwind across geographies and formats. Walmart U.S. general merchandise sales declined mid-single-digits while food and consumable sales increased low double-digits.
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2024 Q1
23 May 23
This headwind was partially offset by a reduction in supply chain and freight costs relative to last year's heightened levels.
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2024 Q1
23 May 23
consolidated gross margins decreased 18 basis points with ongoing pressure from category sales mix globally
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2024 Q1
23 May 23
In Q1 we saw a nearly 360 basis point shift in U.S. sales mix from general merchandise to grocery and health and wellness. To benchmark the magnitude of this shift exceeds the 330 basis points of category mix shift we experienced in all of last year.
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2024 Q1
23 May 23
At the headline level, consumer spending has proven resilient, but below the surface, we continue to see signs that customers remain choiceful, particularly in discretionary categories.
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2024 Q1
23 May 23
we are holding at the lower end and adding at the upper end
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2023 Q2
16 Aug 22
that contributes to the better-than-expected performance relative to our guidance at the end of last month.
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2023 Q2
16 Aug 22