Asda's Debt Shake-Up Offers Little Relief to Troubled Grocer [BNN Bloomberg (Canada)]
Walmart Inc. (WMT)
Last walmart inc. earnings: 2/18 06:00 am
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Source: BNN Bloomberg
Britain's third-largest supermarket needed to tackle debt maturing in 2026, as it struggles to compete in one of the world's most competitive food markets. But with interest rates having surged since the 2021 buyout, it's now paying the price. The deal will push Asda's interest bill to nearly £390 million in 2025, up 56% from last year, according to Fitch Ratings. That's going to put even more pressure on earnings for a supermarket that's recently lost market share to several rivals with stronger balance sheets. The grocer is one of many UK companies grappling with a debt hangover and higher interest rates after a private equity-led acquisition at the height of the easy money era. Asda now risks losing further ground as it seeks cash to ease its debt levels, and grapples with a series of ownership and leadership changes. Mohsin and Zuber Issa teamed up with TDR to buy Asda for £6.8 billion just three years ago from Walmart Inc., which retains a 10% stake. Since then Asda has fa
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News
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- Walmart Inc. (NYSE: WMT) had its price target raised by analysts at Citigroup Inc. from $63.33 to $75.00. They now have a "buy" rating on the stock.MarketBeat
- Walmart Inc. (NYSE: WMT) had its price target raised by analysts at Morgan Stanley from $67.00 to $70.00. They now have an "overweight" rating on the stock.MarketBeat
WMT
Earnings
- 5/16/24 - Beat
WMT
Sec Filings
- 5/16/24 - Form 8-K
- 5/9/24 - Form 4
- 5/7/24 - Form PX14A6G
- WMT's page on the SEC website