Recently, Jim Cramer reviewed the 10 stocks that are taking the Dow Jones industrial average higher. Among those was Walmart Inc. (NYSE: WMT), America’s largest retailer.
CNBC’s Jim Cramer considers Walmart Inc. (NYSE: WMT) to be an inflation fighter.
With the stock up 82% in the past year, it is no wonder Cramer likes it.
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Cramer’s support for Walmart, according to CNBC, is because the retailer is an “inflation fighter” during a period when inflation is an economic threat again. The TV network reports that Cramer believes in the company because it sells “quality items at budget prices.”
Walmart’s slogan is “Save Money. Live Better.” The phrase comes from a speech founder Sam Walton gave in 1992 when he received the Presidential Medal of Freedom. It has been the key to the company’s success for decades.
Walmart’s discount strategy is among the reasons for its surge in revenue. In its most recent quarter, revenue rose 5% to $169.6 billion, compared to the same quarter a year ago. Its global e-commerce revenue increased 27%, while per-share earnings grew from $0.06 to $0.57. Management said that much of the improvement was due to services such as allowing customers to order online and pick up those orders at store locations.
According to Walmart, 90% of America’s population lives within 10 miles of one of its stores. The company had 276 stores in the United States in 1980. Today it has 4,599. To become the nation’s largest retailer, it had to pass giants Sears and J.C. Penney.
Walmart’s stock is up 82% in the past year. Based on a jump of 14% so far this year, it could be going higher. No wonder Cramer likes it.
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