Wal-Mart's stock price drops 9% due to a rare sales setback
2026-08-21 18:12:11
According to CoinMeta, Walmart's stock price fell by more than 9% on Thursday due to a rare setback in U.S. sales, despite the retail giant's quarterly revenue exceeding Wall Street's expectations and it raising its outlook for 2027. Walmart reported second-quarter revenue of $187.9 billion, up from $177.4 billion in the same period last year and higher than analysts' forecast of $186.77 billion. The adjusted earnings per share were $0.81. Although global e-commerce sales grew by 23%, Walmart's core U.S. business saw comparable sales growth of only 2.6%, which was lower than Wall Street's expectations and represented the slowest quarterly comparable sales growth in six years. Walmart expects to face additional fuel-related costs of over $2 billion this year and plans to cut prices on about 11,000 products. Despite the slowdown, Walmart has raised its net sales growth forecast for the 2027 fiscal year to 4% to 5%.
Source:Coinpaper
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