Long a workout buff and dedicated runner, Walmart CFO John David Rainey admits his fitness regimen has been clipped by the demands of being the financial wizard at the world’s largest retailer.
But he’s still managing to get in a few needed reps.
"I find that I bring a better version of myself to work if I’m balanced, if I can exercise," Rainey told me inside the new Walton Family Whole Health & Fitness in Bentonville, Ark.
Rainey has been overseeing Walmart’s financial statements — which are making a statement in their own right as the business earns Yahoo Finance Company of the Year award — since June 2022. He was Walmart’s big free agent signing, then an outsider with stints as CFO of PayPal (PYPL) and United Airlines (UAL).
Since Rainey joined Walmart on June 6, 2022, the company’s stock is up a sizzling 124%, compared to a 47% advance for the S&P 500. It has added billions in sales, grown operating profit margins in a competitive retail environment, and regained the bull narrative on Wall Street.
Walmart’s third quarter showed a retailer capitalizing on penny-pinching consumers on both the low-income and higher-income spectrums.
The company beat Wall Street estimates on sales and earnings, powered by a 5.3% comparable sales gain at Walmart US. Its global e-commerce sales rose a hearty 27% as Walmart lifted its full-year guidance yet again.
The company’s full-year sales are forecast to grow in the range of 4.8% to 5.1%. The midpoint of its earnings outlook of $2.45 a share represents a 11% year-over-year jump.
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