Higher prices were good for Walmart Inc. last year, as raging inflation steered shoppers toward bargains. Now, lower prices are good for the retailer too,...
Higher prices were good for Walmart Inc. last year, as raging inflation steered shoppers toward discounts. Now, lower prices are also good for the retailer, and those prices could fall even further, Piper Sandler analyst Edward Yruma said in upgrading the stock.
Yruma upgraded shares of the big-box retailer to the firm’s version of a buy rating, saying that Walmart’s WMT ability to undercut rivals on prices — particularly those like Kroger Co., Meijer and Amazon Fresh — would help it draw more customers. Yruma also said that his team recently conducted an analysis of roughly 390 grocery items at Walmart that were on “rollback” — the term for when a supplier temporarily cuts the price of an item for a retailer, and the retailer then sells that item at a lower price. The Walmart rollback prices on those items, as measured by the median difference, were 19% lower when compared with the regular prices charged by Kroger KR and Meijer, and 29% lower when compared with Amazon Fresh AMZN .
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