Walmart’s stock falls
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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.
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.
Walmart said it managed to avoid some of the price hikes it expected last quarter, but its costs continue to increase each week.
Walmart’s report, due Thursday morning, should give investors the quiet they need to focus on the big picture. Analysts predict Walmart will post another strong quarter, cementing itself yet again as a beacon of steadfastness amid the turbulence rocking the broader retail ecosystem.
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