Jim Cramer: Doug McMillon Is Helping Turn Walmart Around
Walmart posted third quarter results that beat expectations Thursday. Jim Cramer credits CEO Doug McMillon with putting the retailer back on the map.
Jim Cramer says we got a nice upside surprise from Walmart Thursday when the retailer posted third quarter results that beat expectations. He credits CEO Doug McMillon with putting Walmart back on the map. Cramer says of course he's aware that the company had repeatedly cut forecasts before finally beating. But he says it doesn't matter. Based on what was said in the conference call, it's clear Walmart has realized where to spend it's money, they're more focused now and that's what McMillon is bringing to the table. In the third quarter, U.S. same-store sales for the world's largest retailer showed growth for the first time in seven quarters.
