Walmart shares fall upon disappointing forecast, fueling US spending worries
World’s largest retailer expects inflation-weary consumers to pull back after shares hit record high of $105 last week
Walmart on Thursday forecast sales and profit for its latest fiscal year below Wall Street estimates, suggesting the world’s largest retailer expects inflation-weary consumers to pull back after several quarters of solid growth.
Walmart shares, which had risen about 72% in 2024 and hit a record high of $105 last week, were down 6% in early trading. Shares of its rival retailer Target were down 1.6%, with Amazon 0.9% lower. Continue reading...
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