In today’s briefing:
- Bumble Inc.: Blind Dating Offering & Other Drivers
- Ralph Lauren: Collaboration With Fortnite & Other Developments
- Tapestry Inc: Major Drivers
- Tyson Foods: Major Drivers
- Walmart Inc: The Walmart Creator Platform & Other Drivers
Bumble Inc.: Blind Dating Offering & Other Drivers
- Bumble delivered a mixed set of third-quarter results as it failed to meet market expectations on the revenue front but managed an earnings beat.
- The company produced a decent top-line growth of 17% year over year in Q3, driven by 28% growth for the Bumble App.
- The revenue growth would have been 10 points higher and Bumble App revenue growth would have been 5 points higher after adjusting for forex and the situation in Ukraine.
Ralph Lauren: Collaboration With Fortnite & Other Developments
- Ralph Lauren’s previous quarter results were strong and the company managed an all-around beat.
- Their top-line continued to increase in the previous quarter, with revenues rising 13% in constant currency and 5% on a reported basis.
- The success for this quarter was once again aided by good constant currency growth across all 3 regions.
Tapestry Inc: Major Drivers
- Despite the challenging environment, Tapestry’s first quarter results were strong and the company’s performance exceeded market expectations in terms of revenues as well as earnings.
- This result highlights the company’s transformation into a customer-centric and data-driven organization, which have helped it effectively navigate the challenging climate.
- Their direct-to-consumer operations grew again in this quarter thanks to the strong management focus on building omnichannel experiences.
Tyson Foods: Major Drivers
- Tyson Foods’ stock has been on a downward trajectory for a while and the recent results did not help the situation.
- Consumer demand for protein is largely stable in this difficult macroeconomic context with record-high inflation.
- Volume performance increased in the fourth quarter because of their investments in brands and merchandising, which raised portfolio market share.
Walmart Inc: The Walmart Creator Platform & Other Drivers
- Walmart’s stock has climbed to a new high after the company delivered strong results and surpassed Wall Street expectations in terms of revenues as well as earnings.
- In Q3, strong sales were achieved in each of its segments and its U.S. comparable sales increased sequentially by 8.2% thanks to higher average ticket sizes and more transactions.
- Walmart International experienced strong constant currency sales growth of 13.3%, driven primarily by Flipkart and Walmex, while Sam’s Club USA posted double-digit comps growth of 10.3%, excluding fuel and tobacco, for the 11th consecutive quarter.
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