Walmart Inc (WMT)

By and large, commercial real estate landlords do consider this name to be in the grocery space. It's doing a better and better job of that. But not a pure-play grocery. He thinks of defensive, grocery-anchored shopping centres as neighbourhood, urban, smaller centres -- where you can get a haircut and do other errands that can't be done online.

They just reported a beat though slower profit growth, so shares were punished. He does NOT see a crash in sales, and the numbers were in fact good.

It reported last week. This and Costco are benefiting from the economy of scale. Market share is already strong and will gain further.

Great winner. Higher highs, higher lows. Outpacing S&P since late 2021. Lofty valuation of 38x forward PE, for 10% growth. PEG ratio close to 4x. Grocery component insulates it somewhat from online competition.

Costco and Walmart offer terrific private label products that appeal to consumer starved for value after products were hiked during Covid. True, private label brands aren't growing much, but they keep all prices--including consumer brands--down. The brands are one reason why  Costco and Walmart keep hitting new highs.

Valuation always high in mid-high 20s PE. Profitability is solid, but margins are thin. Half of business is from grocery, with historically narrow margins of 2-3%. Management's good. Look elsewhere.

She missed this one. They did a very good job pivoting to online sales, and they've added advertising to their platform. They've done well, and the softening economy benefits companies like Walmart. Good long-term. Wait for a pullback. They compete well against Amazon and Target.

They are about to report. See how accretive back-to-school sales were. Is looking for revenues to rise 3-5%. Last August, they already raised their outlook.

North America's largest retailer that is very well run. eCommerce business very strong. Continues to increase revenues and generate cash flow. Stock price now cheap however. Would recommend buying on share price weakness. 

He sold covered calls on Wednesday to ride high volatility. He did it to add some hedging as well as cash flow.

Is the world's largest company by revenue with an amazing chart, up since January. They overhauled and improved their e-commerce and integrated high-margin revenue streams such as ads and membership services. They launched their AI logistics tool to improve delivery efficiency, so this translates into more revenues. Take some profits now after this strong run, though the street sees 5% more upside.

The chart has been a home run, but he hesitates now, because 55% of their revenues are in groceries which suffer tight margins and are vulnerable to accusations of shrinkflation and price gouging.

He doesn't think there's a recession around the corner. In the consumer staples space, he'd favour WMT for continued mid-cycle economic growth.