Latest Wal-Mart Stores Inc News

Kohl's cuts 2022 outlook, capping mixed week for retailers

Aug. 18, 2022 17:30 PM EDT

Kohl’s on Thursday slashed its sales and profit expectations for the year, a result of its stepped up price cutting to shed unwanted merchandise. The department store chain also cut back on orders ahead of the critical holiday period, spooking investors and sending shares down...

US retail sales were flat in July as inflation takes a toll

Aug. 17, 2022 10:30 AM EDT

WASHINGTON (AP) — The pace of sales at U.S. retailers was unchanged last month as persistently high inflation and rising interest rates forced many Americans to spend more cautiously. Retail purchases were flat after having risen 0.8% in June, the Commerce Department reported...

Target takes a hit after heavy discounts to clear inventory

Aug. 17, 2022 09:59 AM EDT

NEW YORK (AP) — Target reported solid sales for the fiscal second quarter but its profit plunged nearly 90% after it was forced to slash prices to clear unwanted inventories of clothing, home goods and electronics. In early June, Target warned that it was canceling orders from...

Asian shares rise on optimism about US, China economies

Aug. 17, 2022 00:02 AM EDT

TOKYO (AP) — Asian shares were mostly higher Wednesday as regional markets looked to strong economic signs out of the U.S. and China as drivers of growth. Benchmarks rose in morning trading in Japan, China and Australia, although shares dipped slightly in South Korea. Analysts...

Hot dogs vs deli meat; rising costs shape choices at Walmart

Aug. 16, 2022 18:59 PM EDT

NEW YORK (AP) — With inflation hovering near levels not seen in 40 years, higher-income Americans turned to Walmart to cut costs on groceries while its lower-income customers swapped out deli meats for less expensive hot dogs and canned tuna. That boosted sales for Walmart in the...

Walmart, Home Depot rise; Lumentum, ZipRecruiter fall

Aug. 16, 2022 16:17 PM EDT

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Tuesday: Walmart Inc., up $6.77 to $139.37. The nation's largest retailer raised its profit forecast for the year after reporting strong second-quarter financial results. Home...

Walmart deal with Paramount gives members streaming perks

Aug. 15, 2022 18:23 PM EDT

NEW YORK (AP) — Walmart Inc. said Monday it has signed a deal with Paramount Global to offer the entertainment company's streaming service as a perk to subscribers of the discounter's shipping subscription service. The move is part of efforts by the nation's largest retailer to...

This Week: Walmart earns, Fed meeting minutes, US home sales

Aug. 15, 2022 03:12 AM EDT

A look at some of the key business events and economic indicators upcoming this week: SPOTLIGHT ON WALMART Wall Street expects another mixed quarterly report card from Walmart. Analysts predict the nation’s largest retailer will report on Tuesday that...

Wall Street extends winning streak to 4th week

Aug. 12, 2022 17:00 PM EDT

Wall Street capped a choppy week of trading with a broad stock market rally Friday, as the S&P 500 notched its fourth consecutive weekly gain. The benchmark index closed 1.7% higher, for a 3.3% weekly gain. The S&P 500 hadn't posted such a good stretch since November. ...

Best Buy trims jobs after it cuts sales and profit outlook

Aug. 12, 2022 15:28 PM EDT

NEW YORK (AP) — Best Buy, the nation's largest consumer electronics chain, is trimming jobs in an effort to adjust to new changes in consumer behavior as the virus wanes. Best Buy declined to say how many jobs it was cutting, but The Wall Street Journal, which was first to report...