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Spending stimulus, on-site protection helps Walmart exceed Wall Street’s expectations

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Spending stimulus, on-site protection helps Walmart exceed Wall Street's expectations

Walmart exceeded Wall Street’s expectations with quarterly revenue and revenue on Tuesday and reported record US online sales after consumers rushed to make ends meet during the coronavirus pandemic.

The world’s top brick-and-mortar retailer shares rose 2 percent in morning trade and about 7 percent so far this year, far exceeding Wall Street’s blue chip index, which is down nearly 14 percent for this year.

Walmart, like many other important businesses, has seen a surge in demand in late March and early April as “shelter” orders that make consumers buy staples while limiting their trips to wholesalers.

The retailer said that despite demand for toilet paper, surface cleaners and foodstuffs tapering after the initial hoarding, sales rebounded in the second half of April as consumers spent money received as part of a government aid package.

“Towards the end of the quarter, another phase emerges – call it aid expenditure,” Chief Executive Doug McMillon told analysts. He said sales had increased in categories such as clothing, TV, video games, sporting goods and toys.

Walmart executives said stimulus checks had helped provide a good start for the second quarter, but they did not expect spending to continue at the same pace.

The company offers little insight beyond that and pulls its forecast for a full year by saying there is too much uncertainty because of the pandemic.

Walmart’s online business rose 74 percent in the first quarter, because its investment in pick-up at the store and shipping paid off just as demand for the service surged.

It said the power of online operations alone made him decide to stop Jet.com, an online start-up that was acquired in 2016 for $ 3.3 billion.

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This business underwent a reshuffle last year by integrating its retail, technology, marketing, analytics and product teams with Walmart’s own online business.

Walmart added that pickup and delivery of food items for food and other consumables reached record sales volumes and also saw high demand for electronic goods, toys and sporting goods in the quarter.

Overall, sales at US stores open for at least one year rose 10 percent, excluding fuel, in the quarter ending April 30. Analysts had expected an 8.8 percent increase, according to IBES data from Refinitiv.

Total revenue rose 8.6 percent, to $ 134.6 billion, also beating analyst estimates for $ 132.79 billion.

Responding to the surge in demand, the group has increased hiring, increased temporary wages and spent more on maintaining its shops and fulfillment centers and said additional costs related to the pandemic reached nearly $ 900 million.

That pushed operating margins down 62 basis points, to 20.5 percent, in the quarter, but operating income still rose 5.6 percent, to $ 5.22 billion, during the quarter. Adjusted earnings per share at $ 1.18, beating Wall Street’s expectations of $ 1.12.

“Walmart’s online business is largely able to handle this growth spurt in existing capabilities,” said Moody’s analyst Charlie O ‘Shea, describing the decline in margins as “quite benign.”

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Algeria interested in Portuguese companies investing in renewable energy – Observer

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Algeria interested in Portuguese companies investing in renewable energy - Observer

Foreign Minister João Gomes Cravinho met this Wednesday with his Algerian counterpart Ramtan Lamamra, who expressed interest in Portuguese companies investing in Algeria’s solar and wind energy.

Speaking with Lusa, João Cravinho also said that for 2023 it was decided to hold a “high-level meeting chaired by the prime ministers” of the two countries, a meeting to be held in Algiers, in addition to the state visit of the President of Algeria. Algeria to Portugal.

The Portuguese foreign minister said today’s visit to Algeria, where he was with Ramtan Lamamra, whom he has known since 2005 when he was ambassador to Lisbon, is “based on old knowledge”, but also a visit to a country that “does not to be a neighbor”, shares “a lot of fears”. “Not being a neighboring country, it almost shares many concerns about the region, the Mediterranean, the European Union’s relationship with Africa and the Arab world. It was important for us to talk about what we can do together as part of the geopolitical and geo-economic transformation,” he explained.

João Cravinho stressed that the issue of Russia’s invasion of Ukraine was a factor “which could not but be the subject of dialogue”, and also added that “geo-economic issues related to energy, renewable energy sources and the opportunities that come with the digital transition” also were on the table.

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“While Algeria is a major exporter of fossil fuels, it is also a country with huge potential in terms of solar and wind energy. We have very qualified companies in these areas, and the Algerian side has expressed interest in [ter] Portuguese investors in these areas,” the minister said.

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The official said that it would be a matter of working with the Portuguese Agency for Investment and Foreign Trade (AICEP), with the Secretary of State for Internationalization, as well as with a sectoral ministry, namely the Ministry of Environment and Climate Change. A “high-level meeting chaired by the prime ministers” of the two countries is scheduled for 2023, a meeting to be held in Algiers, in addition to the Algerian President’s state visit to Portugal.

“We have a very busy calendar between the two countries. Now we will try to organize a mixed commission, where technical specialists from both countries will gather,” he said, stressing that there are “14 legal documents that are practically finalized and will be signed” in 2023.

João Gomes Cravinho was on a visit to Algiers today to assess bilateral relations in the economic sphere, as well as in terms of cooperation, language and culture, and to discuss international issues.

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PORTUGUESE PARACHET JUMP IN THE NETHERLANDS

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PORTUGUESE PARACHET JUMP IN THE NETHERLANDS

Members of the Airborne Operational Battalion of the Parachute Regiment of the Portuguese Army during the annual Falcon Jump exercise on September 17, 2022 over the Ede launch zone, 18 km west of Arnhem, in the province of Gelderland, the Netherlands. A Portuguese skydiver is equipped with a SPEKON RS 2000 parachute from the German manufacturer SPEKON Sächsische Spezialkonfekion GmbH. Above him are US paratroopers with T-11 parachutes.

Photo by M. Bienik | 6 barrels per day

The annual Falcon Leap 2022 exercise, based in Eindhoven, in the south of the Netherlands, took place from 5 to 16 September 2022 in the Netherlands and Belgium. During the first week, the exercise focused on cargo drop operations, and the second week focused on drop operations. It was attended by more than 1 thousand soldiers representing 13 countries, including Portugal, with the participation of the Operational Detachment of 22 soldiers from the Airborne Operational Battalion of the Parachute Regiment of the Ground Forces.

The exercise officially ended on September 17, 2022, commemorating the 78th anniversary of Operation Market Garden, which began on the same day in 1944, during World War II, as part of the largest airborne operation in which more than 40,000 troops serving in the 1st Airborne Division of Great Britain, the 1st Independent Parachute Brigade of Poland, the 101st and 82nd Airborne Divisions of the United States of America. These commemorations were marked by the launch of paratroopers over the original drop zones of the Operation.

The photo was taken by the Polish soldier M. Benek, seconded to the 6th Airborne Brigade (BPD) – Brigadier General Stanisław Sosabowski, a unit that is the result of the historical legacy of the 1st Separate Polish Airborne Brigade, which jumped during the operation ” Bazaar Garden “, in 1944 under the command of General. Stanislav Sosabovsky – whose name is a suffix (as patron) of the current unit.

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Article published in partnership with “Espada & Escudo”

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Luana Piovani goes to Portugal’s Golden Globes with her boyfriend

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Luana Piovani goes to Portugal's Golden Globes with her boyfriend



Luana Piovani

Photo: Instagram/@luanapiovani/Famous and Celebrities

This Sunday, the 2nd, actress Luana Piovani went to the Portuguese Golden Globes along with her boyfriend Lucas Bittencourt. In her Instagram, the actress praised the outfits they were wearing.

Ready for the Golden Globes. Great guy. We are very, very luxurious, my love,” said Luana. While Lucas was wearing a black suit, she was wearing a short white lace dress with green accents at the waist.



Luana Piovani at the Golden Globes.  -

Luana Piovani at the Golden Globes. –

Photo: Instagram/@luanapiovani/Famous and Celebrities

“Long live the Golden Globes and long live you, my love, who accompanied me and constantly gave me a hand, because I have very high heels and I have a problem knee,” the actress shared.

Luana Piovani revealed the reason for the breakup with Pedro Scooby

Actress Luana Piovani finally revealed the real reason behind his breakup with surfer and former BBB Pedro Scooby. In the documentary “A Vida é Irada, Vamos Curtir”, the actress recalled the tense moment they went through due to the inattention of the athlete, which eventually became the trigger for the divorce.

While they are traveling with their family, Pedro forgot to extend their stay, leaving Luana with nowhere to go with her children and several problems to deal with. “I had to leave before 13:00 the next day because the property was already rented out. With three children and twelve suitcases, Luna remembered. “When I hung up, I took the ring off my finger, put it on the table and said, ‘My marriage just ended.’ indicated.

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