Walmart Shares Extend Decline After Rare US Sales Miss
Walmart Inc.’s quarterly sales fell short of expectations, a rare miss that’s likely to stoke concern about the leading big-box retailer decelerating alongside a slow-growing US economy. Sales at US stores open at least a year, excluding fuel, rose 2.6% in the second quarter, shy of the lowest analyst estimate compiled by Bloomberg. That rate of growth — hindered primarily by pricing pressure in…
Walmart Inc. experienced a rare sales miss in the second quarter, with its quarterly sales falling short of expectations. The decline in sales at US stores open at least a year, excluding fuel, rose by 2.6%, which was lower than the lowest analyst estimate compiled by Bloomberg. This rate of growth is the slowest in more than six years, primarily due to pricing pressure in the company's pharmacy business.
As a result, Walmart shares fell as much as 10%, marking the most significant intraday decline since 2022 in New York trading. The negative impact on Walmart's stock highlights concerns about the retailer's deceleration alongside the slow-growing US economy.
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