Walmart shares fall 10% to $103 after weak US sales
Walmart's stock slid 10% to $103, its lowest in nine months, after the company posted its slowest US sales growth in more than six years.
Sales rose just 2.6% this quarter (excluding fuel), down from last quarter's 4.1%, and didn't meet what Wall Street was hoping for.
Walmart lifts guidance after revenue beat
Higher gas prices and new federal price caps on some medications cut into pharmacy revenue, while rising gasoline prices led shoppers to pull back on spending and store traffic grew only 1.5% compared with 3% last quarter.
Still, overall revenue beat expectations thanks to its continued gains in grocery market share and tariff refunds, and Walmart is staying optimistic by raising its full-year guidance for sales and adjusted operating income, and expects fiscal 2027 net sales to grow between 4% and 5%.