Walmart is the best acting retailer, according to TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer.
Walmart said on Tuesday that it plans to open 255 new stores internationally within the next two years.
The world's largest retailer will see a total unit growth of 280 new, expanded or relocated stores, including 255 new stores in global markets such as Mexico and China. It also anticipates 1,000 new online grocery locations in the U.S by the end of fiscal 2019.
On the heels of a great year -- the stock has jumped 23% year to date -- Walmart also affirmed its fiscal 2018 outlook for adjusted earnings of $4.30 to $4.40 a share. The retailer expects a 3% uptick in sales in 2019, driven by stronger comp sales and e-commerce growth, the latter estimated to be about 40% in the same period.
"We have good momentum in the business, we're executing our strategy and moving with speed to win with the customer, who is more connected than ever and embracing tools that will save them both time and money," said Walmart CEO Doug McMillon in a statement.
"We're equipping our associates with training and technology so they will continue to innovate in our stores, clubs and through e-commerce to find ways to deliver an enjoyable shopping experience for our customers that is easy, fast, friendly and fun," he added.
The company introduced a new $20 billion share repurchase program, which will be implemented in the next two years.
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