Walmart's Newly Remodeled Store Format Could Increase Customer Spend, Says Analyst - Walmart (NYSE:WMT)

Telsey Advisory Group analyst Joseph Feldman reiterated an Outperform rating on the shares of Walmart Inc. WMT with a price target of $160.
The analyst applauds Walmart's newly remodeled store format, which has sharper end-caps, elevated product presentation, shop-in-shops, and omnichannel technology.
The analyst expects 300 Walmart stores to be similarly remodeled in 2023, increasing frequency and spend per trip of customers.
Across the store, Walmart highlighted its Walmart+ membership service. Key areas had QR codes to allow consumers to go quickly online to discover more products and sizes.
This apart, the company's combination of front-end changes and back-end automation has increased the analyst's confidence in multi-year transformation, which will gain market share.
Walmart's vision beyond retail and e-commerce to expand in advertising, merchant services, last-mile delivery (e.g., Spark), health services, and digital payments is also likely to aid growth, the analyst notes.
These new elements are "more profitable than traditional retail" and generate profitable market share gains.
Price Action: WMT shares are trading lower by 0.56% at $148.62 on the last check Friday.