Walmart (WMT) Stock; Declines as Tap-to-Pay Launch Follows Earnings Selloff
TLDRs;
- Walmart stock remains under pressure after a disappointing comparable-sales performance.
- Tap-to-Pay launches August 24 across selected Walmart and Sam’s Club stores.
- Strong e-commerce growth provides some support for Walmart’s broader growth outlook.
- Analysts remain bullish despite cutting several Walmart price targets.
Walmart Inc. (WMT) stock remained under pressure after a difficult earnings week, with investors digesting softer-than-expected U.S. comparable sales even as the retailer prepares to introduce contactless payments at stores across the country. The company’s shares finished the week down roughly 9.8%, wiping an estimated $90 billion from its market value.
The pressure came despite several areas of strength in Walmart’s latest quarterly results. Revenue climbed 5.9% to $187.9 billion, while U.S. e-commerce increased 24% and store-fulfilled delivery jumped 40%. However, U.S. comparable sales excluding fuel grew only 2.6%, below the 3.8% increase analysts had expected.
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