Walmart’s stock falls
Digest more
Shrimp sold at Walmart may be radioactive
Digest more
The company marked a milestone in May — posting its first profitable quarter for its e-commerce business in the U.S. and globally.
1hon MSN
Walmart reports stronger-than-expected sales — but shares drop as profits get squeezed by tariffs
The world’s biggest retailer posted quarterly revenue of $177.4 billion — a hefty 4.8% jump that sailed past Wall Street’s $175.9 billion target.
Target also imports about half of its merchandise, compared to roughly 33% at Walmart, so it needs to raise prices at almost double the rate of Walmart to mitigate the tariff impact, Bank of America analyst Robert Ohmes said in a report this week.
Shares of Walmart are trading more than 5% lower following the world’s largest retailer’s quarterly earnings release. The results, announced this morning, triggered a selloff that pushed the stock below key technical support levels.
Walmart increases discounts with more than 7,400 rollbacks and 30% more grocery discounts in the second quarter, driving 4.6% same-store sales growth amid economic uncertainty.
Wall Street's main indexes slipped on Thursday, as investors awaited clues on monetary policy from a Federal Reserve conference in Jackson Hole, while big-box retailer Walmart's quarterly results did little to boost sentiment.