(CercleFinance.com) – Walmart outperformed the trend on Monday on the New York Stock Exchange as BofA analysts consider the retailer to be one of the big winners of ‘Black Friday’ this year.
A little over an hour after the opening, the title of the American retail giant thus advanced by 0.2%, while the Dow Jones index lost more than 0.5% at the same time.
In a study released in the morning, Bank of America teams point out that it is the ‘discount’ specialists such as Walmart, Costco and BJ’s Wholesale which should have done best on ‘Black Friday’ given current high inflationary pressures.
According to the broker, Walmart has been able to take advantage of the significant investments it has made this year in categories such as electronics, home, toys and apparel.
‘In the stores we visited, the traffic appeared particularly dense, especially with regard to electronics, food and toys’, underlines BofA in its note.
“Sales of televisions in particular seem to have done very well, as well as bicycles, smartwatches and tablets,” adds the broker.
If Walmart stores remained closed all day last Thursday for ‘Thanksgiving’, they opened at 5:00 am Friday morning for ‘Black Friday’ sales.
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