WALMART INC.

(WMT)
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Walmart Wraps Up Its Largest-Ever Annual Open Call Event, With More Than 330 Products Made, Grown or Assembled in the U.S. Chosen To Be Sold in Stores and Online

06/30/2022 | 02:44pm EDT

Today, more than 1,100 businesses from across the country pitched their products made, grown or assembled in the U.S. to Walmart and Sam’s Club merchants at Walmart’s ninth annual Open Call. Preliminary results indicate that more than 330 of those pitches resulted in a deal for businesses to sell their items to Walmart customers through placement on Walmart or Sam’s Club shelves, online at Walmart.com or on Walmart’s Marketplace. Additionally, business owners of more than 280 products are continuing conversations with merchants for potential deals in the future.

“Investing in U.S. manufacturing is not only the right thing to do for the country’s long-term economic health, it's the right thing to do for customers today who are dealing with historic inflation,” said Doug McMillon, president and CEO of Walmart Inc. “We’re excited that more and more great products at strong price points are being produced in the U.S. Our $350 billion investment in items made, grown or assembled in the U.S. helps deliver our customers the goods they need, when they need them, at affordable prices, while supporting the creation of more than 750,000 jobs.”

Back in 2013, Walmart pledged to spend $250 billion over 10 years on products made, grown or assembled in the U.S., a milestone the company announced this week it has already reached. Last year, Walmart committed to invest an additional $350 billion on products made, grown or assembled in the U.S. by 2031.

In addition to one-on-one pitch meetings with Walmart and Sam’s Club merchants, participants in this year’s Open Call also heard directly from Walmart executives and merchants. Smaller breakout sessions were available for suppliers to learn more about valuable topics and resources available to them.

“We’ve met so many amazing small business owners through Open Call over the years, and this year is no exception,” said Scott Gutche, senior director, U.S. Manufacturing. “From Catrina’s Kitchen Southern Seasoned Flour to EZ-gro’s Spicy Salad Mix, Microgreen growing kit, we’re so excited about the new products and people that will be joining the Walmart supplier family.”

Open Call is Walmart’s largest sourcing event and has been instrumental in helping the company achieve its initial $250 billion commitment. For the first time in Open Call history, Walmart offered an exclusive early-access period for existing Marketplace sellers to submit their applications. More than 4,500 entrepreneurs applied, and over 13,000 products were registered. This year, finalists representing all 50 states, including the District of Columbia, pitched their products for consideration through 30-minute one-on-one virtual and in-person meetings at Walmart’s headquarters in Bentonville. Nearly 60% of all business owners invited to Open Call self-identify as a diverse-owned business. All businesses that took part in Open Call are eligible to sell their shelf-stable products on Walmart’s various online platforms Walmart.com, Walmart Marketplace or Samsclub.com.

You can learn more about Walmart’s commitment to American jobs here.

About Walmart

Walmart Inc. (NYSE: WMT) helps people around the world save money and live better — anytime and anywhere — in retail stores, online, and through their mobile devices. Each week, approximately 230 million customers and members visit more than 10,500 stores and clubs under 46 banners in 24 countries and eCommerce websites. With fiscal year 2022 revenue of $573 billion, Walmart employs approximately 2.3 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting corporate.walmart.com, on Facebook at facebook.com/walmart and on Twitter at twitter.com/walmart.


© Business Wire 2022
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Analyst Recommendations on WALMART INC.
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Financials (USD)
Sales 2023 595 B - -
Net income 2023 14 722 M - -
Net Debt 2023 42 153 M - -
P/E ratio 2023 26,1x
Yield 2023 1,62%
Capitalization 382 B 382 B -
EV / Sales 2023 0,71x
EV / Sales 2024 0,68x
Nbr of Employees 2 300 000
Free-Float 52,1%
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Mean consensus BUY
Number of Analysts 39
Last Close Price 139,52 $
Average target price 150,93 $
Spread / Average Target 8,18%
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Managers and Directors
C. Douglas McMillon President, Chief Executive Officer & Director
John David Rainey Chief Financial Officer & Executive Vice President
Gregory B. Penner Non-Executive Chairman
Clay Johnson Enterprise Chief Information Officer & EVP
Jerry R. Geisler Chief Information Security Officer & Senior VP
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