more than 21 percent on Wednesday after the company unveiled quarterly results that disappointed investors, the biggest drop since the pandemic era plunge of May 2022. Comparable store sales grew by a measly 0.3 percent, far less than the 1.4 percent analysts had forecast. The company’s fiscal year earnings forecast came down to $8.30 to $8.90 a share from the previous range of nine dollars to $9.70 a share. Wall Street had been expecting $9.56 a share for the fiscal year.
America’s biggest retailer also raised its fiscal year guidance for the third time in a row, saying it expects net sales to grow 4.8 percent to 5.1 percent on a constant currency basis. Just three months ago, it was forecasting sales growth in the 3.75 percent to 4.75 percent range.said in an interview with CNBC that it was too soon to say what products might increase in price due to tariffs.
“We never want to raise prices,” CFO John David Rainey said. “Our model is everyday low prices. But there probably will be cases where prices will go up for consumers.”going to result in higher prices. “Walmart may have to raise some prices if Trump tariffs take effect, CFO says” CNBC declared. “These retailers may raise prices if Trump’s tariffs take effect,” Axios reported.
While not strictly wrong—notice they say that Walmart “may” raise prices, not that it definitely will—the message was clear enough:But a closer look at the quarterly results from Walmart and Target suggests that is not the most likely scenario.The largest retailer appears to be taking market share from Target. While Walmart saw strong demand in home products and toys, Target said these were areas of weakness.
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