Walmart's quarterly sales fell short of expectations, and this rare loss may raise concerns in the market. The leading large retailer is slowing along with the slowing US economy. According to the performance report, US same-store sales without fuel rose 2.6% in the second quarter, which is lower than the lowest analysts' expectations compiled by Bloomberg. Mainly driven by pricing pressure from the pharmacy business, this growth rate hit its lowest level in more than six years. After the opening of the New York market on Thursday, Walmart's stock price fell 8.7%, the biggest intraday decline since July 2022. The stock had a cumulative increase of 2.6% in the year ending Wednesday's close.
Zhitongcaijing · 1d ago
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Walmart's quarterly sales fell short of expectations, and this rare loss may raise concerns in the market. The leading large retailer is slowing along with the slowing US economy. According to the performance report, US same-store sales without fuel rose 2.6% in the second quarter, which is lower than the lowest analysts' expectations compiled by Bloomberg. Mainly driven by pricing pressure from the pharmacy business, this growth rate hit its lowest level in more than six years. After the opening of the New York market on Thursday, Walmart's stock price fell 8.7%, the biggest intraday decline since July 2022. The stock had a cumulative increase of 2.6% in the year ending Wednesday's close.
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