@StickyRice：
Walmart’s inventory, margin issues appear transitory - Morgan StanleyWalmart is likely to complete its inventory clearing actions by the close of the year, according to Morgan Stanley analyst Simeon Gutman.“WMT's gross margin contraction in Q2 (anywhere from 60%-80%) was likely driven by markdowns,” he told clients in a note on Friday. “We don't know how much excess inventory WMT needs to work through in 2H, and margins could still see a drag from markdowns – but it shouldn't linger into next year based on our math.”He added that while sales in discretionary categories broadly declined, apparel sales appeared to bounce back from April. This trend suggests that Walmart’s (NYSE:WMT) “aggressive markdown strategy is working,” Gutman wrote. He expects grocery, auto parts, and pet categories wi
