WMT lowers second-quarter guidance amid rising gas prices, contrasting with Target’s raised full-year sales forecast.
Walmart shares declined Thursday after the Dow component issued weaker-than-expected Q2 guidance, citing elevated fuel costs. Adjusted earnings rose 8.2% to 66 cents per share, while revenue increased, but the outlook disappointed investors.
The retailer’s cautious forecast follows Target’s recent earnings beat and raised full-year sales outlook, though Target also warned of a challenging second quarter. Walmart’s guidance revision highlights persistent inflationary pressures on consumer spending.
The Dow Jones Industrial Average fell alongside Walmart, weighed by unexpected jobless claims data and mixed earnings from Nvidia.