Walmart shares suffered their worst single-day drop since 2022, falling 9.15% to $103.59 on August 20, even after the retailer beat quarterly earnings expectations. The company posted revenue of $187.9 billion versus $186.8 billion expected and adjusted EPS of $0.81 versus $0.7413 expected, but comparable sales growth slowed to 2.6% from 4.8% a year earlier, its weakest in over six years. Walmart also guided third-quarter revenue to $185.6 billion at the midpoint, about 1.4% below Wall Street's $188.3 billion estimate, and CFO John David Rainey said higher fuel prices above $4 per gallon pushed shoppers to make visible spending tradeoffs in June. Global eCommerce grew 23% and marketplace sales rose 52%, signaling the digital engine remains intact even as household budget pressure mounts.
Walmart Inc.Consumer spending cracks and weak guidance signal slowing demand for Walmart's products.
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