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Walmart and Consumer Staple Stocks Fall Again on Weight-Loss Drug Concerns

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The retailer's stock was on pace for its largest one-day percent decrease since July 2022.

Consumer staple stocks stumbled again Friday, extending their losses in the wake of Walmart ‘s warning about a dip in food purchases from consumers taking weight-loss drugs.

Snack and beverage companies also saw their stocks fall Friday. Shares of Mondelez International —maker of Oreos, Wheat Thins, and Chips Ahoy!—slid 4% to $62.47 in recent trading. Jelly company J.M. Smucker ‘s stock was down 2.5% to $113.55. Neither Mondelez nor Smucker’s responded to a request for comment.

The drugs’ outlook has also led to a panic among some investors that are assessing the potential impact on sales for restaurants, snacks, and soda. Those fears might be a stretch, some analysts say.

 

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