Strong Walmart earnings may already be priced in with shares near record

NEW YORK - Walmart's earnings amid signs of weaker discretionary spending could add fuel to a rally that has propelled its shares to record highs, or potentially spook investors looking to justify the heavyweight retailer's pricey valuation.

But those expectations come as Walmart contends with higher than average inventories. General merchandise, a crucial category for Walmart, generated $114 billion in sales or a quarter of its total revenues in the year ended January 2024. B. Riley Wealth's chief market strategist Art Hogan said he expects Walmart's shares to trend higher if it beats revenue and earnings estimates on Thursday.

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