GREY:XEBEQ - Post by User
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Resilience19on Jul 25, 2022 10:51pm
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Post# 34849980
Retail dropping lead by Walmart -10% after hours
Retail dropping lead by Walmart -10% after hours
Granted, retail is not industrial but it goes to say the impact the current macro environment is having on even the sturdiest of businesses. "Top U.S. retailer Walmart Inc (WMT.N) on Monday slashed its profit forecast as surging prices for food and fuel prompted customers to cut back on discretionary purchases, and its shares slid 10% in trading after the bell. Shares of rivals including Target (TGT.N) and Amazon.com (AMZN.O) also tanked after Walmart's warning, which signaled a "proverbial train wreck" for retailers, Burt Flickinger, managing director at Strategic Resource Group, said. having on the sturdiest of businesses. " Source: https://www.reuters.com/business/retail-consumer/walmart-cuts-full-year-profit-forecast-2022-07-25/