00:00So Walmart, guys, is down 7% right now. And, you know, it's been a meh kind of year, right?
00:06I mean,
00:06the stock is up about 2.5% year to date. So the good news is sales are growing. Stores
00:12are not
00:13the engine. And I think investors need to sort of wrap their heads around that. So a lot of the
00:17sales gain, again, coming from e-commerce, coming from advertising revenue. E-commerce accounted for
00:23nearly a quarter of all sales. Yes, it's amazing. And now this is the slowest sales growth we've
00:29seen at Walmart in six years. And they attribute a lot of that to drug prices coming down because
00:34the government's been negotiating with a lot of the big pharma companies. So that hurt overall
00:39sales. Third quarter guidance also disappointed here from Walmart. But they did raise their net
00:44sales and operating income for the year. Walmart says it is gaining market share, especially among
00:49higher income households, which they define as those earning $100,000 or more. Lower income shoppers,
00:54they say, continue to spend cautiously, but they are spending. You know, the interesting thing about
00:59Walmart, and I don't know the answer to this, is just, they don't really go international. Like,
01:04why? I mean, they're a little bit in Central America, Mexico, a little bit in China, a little
01:08bit in Canada. Why aren't they all over Europe? I don't know the answer to that. But it would just
01:12seem like it just works everywhere you go, it seems like. Whereas Amazon, which is their biggest
01:17competitor, at least online, is everywhere, right? It's just omnipresent. Next. Okay, auto,
01:22no, advanced auto parts, AAP, ticker symbol there, really getting hit here, down 23%.
01:29Year to date, though, it's up about 43%. So the company is trimming store openings in favor,
01:35it says, of these regional fulfillment hubs. That's what's going to be opening up. After a pullback
01:39in retail spending dragged down quarterly sales, it also overshadowed a raise in its earnings outlook.
01:46The company now expects to open 10 fewer traditional retail stores, instead shifting its target for
01:52five more market hubs, which are largely those so-called distribution centers. The CEO, though,
01:58of Advanced Auto Parts saying on the call, the company navigated a volatile demand environment,
02:03that's his word, as price-conscious households cut back on discretionary do-it-yourself projects.
02:08You know, which is interesting because Home Depot this week said the DIY smaller projects
02:12helped to propel sales. I see your observation of the cacophony out there right now. Crazy. It's
02:18crazy. Average age of a U.S. automobile's record high, 12.8 years. Yeah, we're holding onto our cars.
02:25I have no idea, really. And used car prices, I think, are up. Yeah, my boy, Joe's Auto Body thing
02:31in Manisquan, New Jersey, parking lot is packed with cars. If you're an auto mechanic right now,
02:37I have to think it's good. Joe's on Route 71 in Manisquan. That guy's awesome.
02:41Didn't they sponsor your kids' little league, too? Could have been. Could have been.
02:45Max, you got one more quick. Those days are gone. Yeah, Cody, Cody, the beauty and fragrance
02:49company, down 20 percent, reported a drop in comparable sales and said this is a transition
02:56period. Ooh, investors don't like to hear that. No, no. What does transition period mean?
03:00That Cody sees revenue in the current quarter declining by a low to mid-single-digit percentage.
03:06The company has been, you know, suffering for quite some time. It's looking to revamp its
03:11business by turning to higher-end brands, Burberry, Calvin Klein, Kylie Jenner's, Kylie Cosmetics.
03:18The stock is down, though. Cody's stock down 38 percent over the past 12 months.
03:22Where are Cody? Who are we? I'm looking at their website.
03:26Do you, is Cody meaning to?
03:28Do they have other brands? C-O-T-Y. I just remember, even growing up,
03:31I remember Cody, the perfume bottles and all of that, but now they have so many other brands.
03:35We had a conversation last night at the dining room table, you know, I mean, after the butler
03:40left the room and I just said, can we talk about the daily Sephora?
03:46Yeah. Oh, yes. In the summer, we have a daily Sephora.
03:50Not for a lot of money, but if we don't, if we don't get into Sephora to get the marginal
03:56thing. You know, the skincare, you got to get the skincare.
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