Walmart’s stock falls
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The company marked a milestone in May — posting its first profitable quarter for its e-commerce business in the U.S. and globally.
Target also imports about half of its merchandise, compared to roughly 33% at Walmart, so it needs to raise prices at almost double the rate of Walmart to mitigate the tariff impact, Bank of America analyst Robert Ohmes said in a report this week.
Walmart increases discounts with more than 7,400 rollbacks and 30% more grocery discounts in the second quarter, driving 4.6% same-store sales growth amid economic uncertainty.
Wall Street's main indexes slipped on Thursday, as investors awaited clues on monetary policy from a Federal Reserve conference in Jackson Hole, while big-box retailer Walmart's quarterly results did little to boost sentiment.