TikTok On The Clock
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 19 May 2020
⏱️ 25 minutes
🧾️ Download transcript
Summary
1st-quarter reports from Walmart and Home Depot have a lot in common: higher sales, higher salaries, and higher spending on keeping stores clean. Jason Moser analyzes the retail landscape and what it means for investors. Plus, TikTok higher Disney executive Kevin Mayer as its new CEO. Does this mean an IPO is definitely in the startup’s future?
Transcript
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| 0:00.0 | It's Tuesday, May 19th. |
| 0:04.0 | Welcome to Market Fullry. |
| 0:05.0 | I'm Chris Hale with me. |
| 0:07.0 | Mr. Jason Moser, good to see you. |
| 0:09.0 | Good to see you. |
| 0:10.0 | We've got some retail, we've got some entertainment news. We're going to start with Walmart. |
| 0:15.7 | We're going to start with the biggest of the retailers out there. |
| 0:20.4 | Walmart, same store sales in the first quarter were up 10%. |
| 0:25.0 | E-commerce sales were up 74%. |
| 0:28.0 | They hired 200,000 workers, Jason. |
| 0:31.0 | A lot. |
| 0:32.0 | That's staggering. It is, it is. I mean, you know, it was a, I mean, it was a good quarter, certainly in what is a tough time. I mean companies are clearly I mean you hate to say |
| 0:45.3 | benefiting from this but the fact of the matter is there are some tailwinds |
| 0:49.2 | from this that some companies benefit from and Walmart is definitely one of them. |
| 0:53.4 | And I think for the longest time, you know, we saw e-commerce succeeding because of desire, right? |
| 0:59.9 | It was people's desire to not necessarily have to go to the store and to be able to have |
| 1:03.8 | stuff just shipped to them. |
| 1:06.0 | I mean now it's obviously the landscape has changed a little bit, even pre-COVID, it was really |
| 1:11.5 | more about becoming Omni Channel. |
| 1:13.4 | And I think that Walmart made a lot of investments, a lot of good investments to become |
| 1:19.3 | the Omni Channel, and now really that business is succeeding out of necessity right I mean |
| 1:24.0 | there there is I mean the landscape is considerably different it's going to be |
... |
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