The quality, value, and convenience we offer make Walmart a smart choice, and we're seeing more middle and higher-income shoppers choose us. We want to help families put meals on the table with great value in our other private brands to relieve the pressure they're feeling. Those tend to be opening price point, private brand, food, and consumables items. store manager meeting last week and among other topics, we shared examples of items where we're holding prices down or rolling them back. The merchants are adjusting by category to reflect where we expect demand to be. We're also managing pricing to reflect our fully landed costs. We've reduced the number of shipping containers in our system, for example, by more than half from the Q1 level and are now much closer to our historical averages. We're making good progress to reduce costs. The aggressive approach we took to move through apparel, in particular, put financial pressure on us, but it helped relieve pressure on our stores and through our supply chain. We've made good progress to reduce inventory levels where we focused and taken markdowns. Starting back in March, we knew we needed to act quickly and aggressively in some categories, and we have. Another weight on margins has been the number of markdowns we've taken. Were up mid-teens for the quarter with units in food slightly negative and about flat exiting the quarter even with double-digit inflation. As we move through Q2, food inflation continued to tick up, and we continue to see a heavier mix of sales in food and consumables in many of our markets, and that put pressure on margins overall. The cost of food and fuel, a heavier mix of sales in food and consumables, and excess inventory in general merchandise categories were among the most challenging items for us at the time. Our purpose is to save people money and help them live better, and that's especially important right now.Īfter the first quarter, we shared how the environment had changed. We're pleased to see more families from a variety of income levels choose us as they look for value. to Mexico to Canada to Chile, they're prioritizing how they spend their money. Our sales were well ahead of plan with inflation lifting our average transaction size, but we know that the amount and persistence of inflation is negatively affecting many families.įrom the U.S. The second quarter finished stronger than we had anticipated, and John David will touch on that in a moment and provide more detail for the back half of the year. A few weeks ago, we updated you on our expectations for how we would perform in Q2 and for the year. (e) shows the dependence of α eff vs Co concentration for sample (A).Good morning, and thanks for joining us. (c) and (d) show the corresponding effective g factor g eff and damping constant α eff. ![]() The red horizontal bars indicate the position of the compensation region as determined from the divergence of the coercive field in static hysteresis loops and uncertainties in the temperature of the sample. The error bars are obtained by the scatter of the fit results when using different methods to remove the background. ![]() Notice the 180° phase shift in the precession of the magnetization. ![]() In the inset the black (upper) trace corresponds to data taken just below the angular momentum compensation point, while the red (lower) data corresponds to data taken slightly above the angular momentum compensation point. Again, the data is extracted from traces similar to those shown in the inset. The measurements are carried out in a field of 2200 Oe applied at 30° with respect to the film normal. In (a) and (b) we report the measured frequency and decay time of the oscillations of the magnetization as a function of temperature for sample (C) ( Co 78 Gd 22 ). Figure 4(Color online) Summary of the time resolved pump/probe data.
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