Walmart Inc. (WMT) Presents at Goldman Sachs Global Consumer and Retail Conference Transcript

Walmart Inc. ( WMT ) Goldman Sachs Global Consumer and Retail Conference September 15, 2026 12:35 PM EDT Company Participants David Guggina - President & CEO of Walmart U.S. Conference Call Participants Katharine McShane - Goldman Sachs Group, Inc., Research Division Presentation Katharine McShane Goldman Sachs Group, Inc., Research Division All right. Good afternoon, everyone. Thank you for joining us today. It's my pleasure to introduce Walmart. Today, we have with us Dave Guggina, President and CEO of Walmart U.S. Dave was appointed to his current role this past February and has been at Walmart since 2018. Dave, thanks so much for joining us today. David Guggina President & CEO of Walmart U.S. Pleasure to be here, Kate, and nice to be with everyone. Good to see you. Question-and-Answer Session Katharine McShane Goldman Sachs Group, Inc., Research Division We wanted to start off with getting a lay of the land with the state of the consumer. How do you view the health of the consumer today across income cohorts? And what are your expectations for the consumer trends for the rest of the year? David Guggina President & CEO of Walmart U.S. I would say right now, the U.S. consumer is resilient. They're being very intentional with their dollars, and they're also looking for value. And that's why the Walmart value proposition is resonating today. We focus on low prices and we focus on convenience. And you can see the results of that focus just this past quarter, if you look at our share gains, I was reviewing them with the team just last week. And we saw gains really across the board. We saw gains in food, consumables, general merchandise. We saw gains across health and wellness. And as we look towards the back half of the year, we expect to see