{"id":1122,"date":"2020-08-19T05:27:20","date_gmt":"2020-08-19T05:27:20","guid":{"rendered":"https:\/\/businessner.com\/?p=1122"},"modified":"2020-08-19T05:27:20","modified_gmt":"2020-08-19T05:27:20","slug":"walmart-sales-dropped-as-the-stimulus-checks-are-running-out","status":"publish","type":"post","link":"https:\/\/businessner.com\/walmart-sales-dropped-as-the-stimulus-checks-are-running-out\/","title":{"rendered":"Walmart Sales Dropped As the Stimulus Checks are Running Out"},"content":{"rendered":"<p>Retail giant Walmart reported sales drop in July as the customer stimulus checks are running out, reported by the top news agencies Tuesday.<\/p>\n<p><a href=\"https:\/\/www.cnbc.com\/quotes\/?symbol=WMT\">Walmart<\/a> saw a significant rise in sales in the second quarter as the U.S government arranged stimulus checks to protect the citizens from the pandemic-related recession. However, most of the consumers exhausted the checks and stopped purchasing products from the retail stores.<\/p>\n<figure id=\"attachment_1125\" aria-describedby=\"caption-attachment-1125\" style=\"width: 696px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-1125 size-large\" src=\"https:\/\/businessner.com\/wp-content\/uploads\/2020\/08\/walmart-sales-drop-1024x853.jpg\" alt=\"walmart sales dropped in july\" width=\"696\" height=\"580\" srcset=\"https:\/\/businessner.com\/wp-content\/uploads\/2020\/08\/walmart-sales-drop-1024x853.jpg 1024w, https:\/\/businessner.com\/wp-content\/uploads\/2020\/08\/walmart-sales-drop-300x250.jpg 300w, https:\/\/businessner.com\/wp-content\/uploads\/2020\/08\/walmart-sales-drop-768x640.jpg 768w, https:\/\/businessner.com\/wp-content\/uploads\/2020\/08\/walmart-sales-drop-696x580.jpg 696w, https:\/\/businessner.com\/wp-content\/uploads\/2020\/08\/walmart-sales-drop-1068x890.jpg 1068w, https:\/\/businessner.com\/wp-content\/uploads\/2020\/08\/walmart-sales-drop-504x420.jpg 504w, https:\/\/businessner.com\/wp-content\/uploads\/2020\/08\/walmart-sales-drop.jpg 1200w\" sizes=\"(max-width: 696px) 100vw, 696px\" \/><figcaption id=\"caption-attachment-1125\" class=\"wp-caption-text\">Walmart commands a 90% market share and higher in a few U.S regions<\/figcaption><\/figure>\n<p>The company thinks consumers are waiting for another round of checks in the upcoming days. More cash might help Walmart to bounce back sales once again in the next quarter.<\/p>\n<h2>Walmart Reported Strong Sales in the Second Quarter<\/h2>\n<p>Walmart reported a <a href=\"https:\/\/www.cnbc.com\/2020\/08\/18\/walmart-says-consumer-spending-dropped-as-stimulus-checks-ran-out.html\">97% boost in e-commerce sales in the second quarter<\/a> yesterday. CEO Doug McMillon said that his company benefited from three things in the pandemic-<\/p>\n<ul class=\"td-arrow-list\">\n<li>Grocery spending;<\/li>\n<li>Entertainment spending to stay motivated during the pandemic;<\/li>\n<li>Home improvement spending;<\/li>\n<\/ul>\n<p>Doug claimed that some of this spending was possible thanks to the stimulus checks provided by the government.<\/p>\n<p>But CFO Brett Biggs said in an interview that government stimulus checks are actually creating doubt about the future performance of the company.<\/p>\n<blockquote class=\"td_pull_quote td_pull_center\"><p>Stimulus was definitely impactful to the consumer in the second quarter, and we\u2019re watching what\u2019s going on in Washington, and how we\u2019re going to progress with a new stimulus package, Biggs said.<\/p><\/blockquote>\n<h2>Sales Started to Drop in July but higher than some Previous Quarters<\/h2>\n<p>According to CNBC, Walmart sales dropped in July but was higher than some previous quarters before the pandemic. Some experts believe that Walmart&#8217;s performance was not the worst during the health crisis compared to other companies.<\/p>\n<p>However, the company executives are keeping a sharp eye on Washington to understand their intention to support small businesses and individuals with stimulus checks.<\/p>\n<p><strong>\u201cThis economy and this country are driven so much by small and medium-sized businesses that we want to see something happen there that will help support those folks,\u201d says McMillon.<\/strong><\/p>\n<p>As the novel coronavirus was becoming a global health issue in the first quarter of 2020, Walmart actually reported a <a href=\"https:\/\/www.zdnet.com\/article\/walmart-q1-e-commerce-sales-surge-74-as-company-shuts-down-jet-com-acquired-for-3-3b-in-2016\/\">74% growth in E-commerce sales<\/a>. So it will be interesting to see how the company can keep up the pace in the upcoming days.<\/p>\n<hr \/>\n<p>Read More: <a href=\"https:\/\/businessner.com\/trump-signs-executive-order-to-provide-unemployment-stimulus\/\">Trump Signs Executive Order to Provide Unemployment Stimulus<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Retail giant Walmart reported sales drop in July as the customer stimulus checks are running out, reported by the top news agencies Tuesday. Walmart saw a significant rise in sales in the second quarter as the U.S government arranged stimulus checks to protect the citizens from the pandemic-related recession. However, most of the consumers exhausted [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":1123,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"Walmart Reports Sales Drop as Stimulus Checks Run Out","_seopress_titles_desc":"Retail giant Walmart sees a sales decline in July as stimulus checks are exhausted. The company anticipates another round of checks to boost sales in the future.","_seopress_robots_index":"","tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[26,25,332,225,331],"_links":{"self":[{"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/posts\/1122"}],"collection":[{"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/comments?post=1122"}],"version-history":[{"count":3,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/posts\/1122\/revisions"}],"predecessor-version":[{"id":1127,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/posts\/1122\/revisions\/1127"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/media\/1123"}],"wp:attachment":[{"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/media?parent=1122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/categories?post=1122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/tags?post=1122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}