NewTradingView.com – Investing and Stock News
Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Investing

Walmart shares just slid 10%: what happened?

by July 25, 2022
written by July 25, 2022

Walmart Inc (NYSE: WMT) shares slid nearly 10% in extended trading on Monday after the big box retailer trimmed its profit guidance both for the current quarter and the full financial year.

Discretionary items are selling less

The multinational said inflationary pressures were seeing more spending on food and other necessities but at the expense of items like electronics and apparel.  

It now forecasts a 6.0% increase in its U.S. same-store sales this quarter, versus 5.0% tops it had guided for earlier. But discretionary items tend to have a bigger profit margin and so that shift to staples will hit its profit in Q2.

The increasing levels of food and fuel inflation are affecting how customers spend, and while we’ve made good progress clearing hardline categories, apparel in Walmart U.S. is requiring more markdown dollars.

Walmart’s revised guidance for fiscal Q2

Walmart now forecasts up to a 13% hit to adjusted EPS this year, including an 8.0% to 9.0% decline it expects this quarter. Previously, the retail giant was looking at adjusted per-share earnings to remain roughly flat in Q2 and drop 1.0% for the full financial year.

The Bentonville-headquartered company is set to report its quarterly results in mid-August. Including after-hours, Walmart shares that have a consensus “overweight” rating are now down 25% from their year-to-date high in April.

The news comes only weeks after peer Target lowered its outlook. Other retail stocks, especially the ones that focus on apparel and home goods, like Macy’s, Kohl’s Gap, and Nordstrom are also in the red after the bell.

The post Walmart shares just slid 10%: what happened? appeared first on Invezz.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Lam Research stock downgraded only days ahead of its Q2 results
next post
Apple vs Google stock: what’s a better buy heading into the earnings print?

You may also like

Employment cost index undershoots expectations; Labour costs likely...

January 31, 2023

Key wage inflation measure eases in Q4: don’t...

January 31, 2023

Weekly markets TL;DR: Massive week ahead for stocks,...

January 31, 2023

Scottish Mortgage Trust share price headwinds put recovery...

January 31, 2023

IMF projects global growth at 2.9%; Disinflation to...

January 31, 2023

Chinese PMIs spark to life after covid restrictions...

January 31, 2023

Should you buy Apple shares ahead of its...

January 30, 2023

Mercedes-Benz just beat Elon Musk’s Tesla in its...

January 30, 2023

Amid recessionary fears, Texas manufacturing disappoints for the...

January 30, 2023

Goldman Sachs reveals one of the best-positioned retail...

January 30, 2023
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Popular Posts

  • 1

    My Trigger to Enter $VAPR

  • 2

    Scaling Up Tips From A 24-Year Old Millionaire Trader {VIDEO}

  • 3

    Multi-Millionaire Trader Explains Why You Should Start Trading With A Small Account {VIDEO}

  • 4

    Pay Attention to These Stocks

  • 5

    New ‘Hunger Winter’ Looms as Europe Prepares to Shiver

Recent Posts

  • Employment cost index undershoots expectations; Labour costs likely peaked

    January 31, 2023
  • Key wage inflation measure eases in Q4: don’t be ‘too bullish’ on stocks

    January 31, 2023
  • China: House Divided

    January 31, 2023
  • Markets Aid Rhino Survival

    January 31, 2023
  • Weekly markets TL;DR: Massive week ahead for stocks, crypto and forex

    January 31, 2023

Categories

  • Economy (600)
  • Editor's Pick (232)
  • Investing (1,586)
  • Stock (9)
  • About Us
  • Email Whitelisting
  • Terms and Conditions
  • Privacy Policy
  • Contacts

Disclaimer: NewTradingView.com, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2023 NewTradingView.com All Rights Reserved.


Back To Top
NewTradingView.com – Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick