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Walmart (WMT) stock has grown nearly 80% year-to-date as it remains a juggernaut in the retail landscape, just several reasons as to why the company is Yahoo Finance's Company of the Year.
TD Cowen Senior Research Analyst Oliver Chen — whose firm named Walmart one of their best ideas of the year — sits down with Julie Hyman and Josh Lipton to reminisce on Walmart's 2024 performance.
"Their online business has been fueled by expansion of the marketplace and continuing to offer new sellers on the marketplace. And then you put that and you marry that with a very awesome grocery business, which is about 60% of total, they've worked hard with suppliers to make sure everyday low price and value is there for customers," Chen explains.
"So we got both. And this company has executed better than ever in terms of marrying these pieces together and offering a 'need plus a want' retail experience," Chen adds, also comparing what Walmart appears to do better than chain competitor Target (TGT).
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This post was written by Luke Carberry Mogan.