) reported strong second quarter results and raised its earnings expectations for the year, temporarily sidestepping concerns around consumer demand in the wake of tariffs on imports from China.
The world’s largest retailer posted a 20-quarter, or five-year, streak of U.S. growth, unmatched by any other retail chain. In an interview on Thursday, Chief Financial Officer Brett Biggs said Walmart has raised prices on some items due to these tariffs, but it is not passing all the cost pressure it faces to consumers.“We still feel good about the consumer overall,” Biggs said.
Earlier this week, Trump backed off his Sept. 1 deadline for imposing 10% tariffs on remaining Chinese imports, delaying duties on cellphones, laptops and other consumer goods, to shield U.S. holiday sales. Sales at U.S. stores open at least a year rose 2.8%, excluding fuel, in the quarter ended July 31. Analysts estimated growth of 2.07%, according to IBES data from Refinitiv.The retailer raised its forecast for adjusted earnings-per-share to a “slight decrease to slight increase,” from a “decline by a low single-digit percentage range.” That forecast includes the effect from the acquisition of Indian e-commerce firm Flipkart.
Opinions are so easy to sway...!
Good let’s double tariffs on all Chinese goods.
Wait until the president decides to go full Trump on sanctions against China.
In Brasil off.
They're going bust here in the UK!
🍻
Not bad, only 5% price increase from a year ago and 56% of their sales is in groceries. Meaning that the 25% tariff increase on goods with China hasn’t affected the consumer much, especially since almost everything non-food related Walmart sells is made in China.
Seems artificial to me. Every other 'store' that made the news posted loses. If one single retailer is keeping the stock market high, and that retailer is highly dependent on goods 'made in China'... umm... Time to sell and buy into bonds...
What does the 500 Pizza hut, 200 Walgreens stores tell us?
Easing recession fears? More people shopping at Walmart probably means the recession is certain.
This is fake news, their profits are backed up by gun sales, not groceries or other products, frightened people are buying more weapons and ammo.
By putting the screws to long time salaried and hourly workers! Take some off the top!
The Waltons, World’s Wealthiest Family Gets: $70,000 per minute, $4 million per hour, $100 million per day. Walmart's low-wage workers cost U.S. taxpayers an estimated $6.2 billion in public assistance including food stamps, Medicaid and subsidized housing.
Walmart WalmartInc should be concerned about consumers boycotting the brand if they don’t end gun sales. Boycotting works.
Walmart is the bottom.. it's the place people go when they can't afford to go to the places they are used to buying. Walmart gains need to be balanced with losses at other retailers to show what is really going on.
Boycott Walmart until they stop selling guns and ammo.
Walmart is the backbone of our nation!
China has been butt humping us for years It’s about time someone stood up to them
kids need some school supplies.
Walmart would be the last one to feel a tariff war
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