Walmart Warns of Consumer Tightening, Shares Drop 9%👀
On the equity side, while indices managed to pull out a small gain, Walmart shares fell 9% on the day as management warned analysts that sale price increases are stalling and could begin to reverse (ie. deflation) in the coming quarters as consumers retrench. Specifically, the company cited that there was a "sharper fallout" in sales during the last 2 weeks of October and that they have "turned more cautious on the consumer than they did 90 days ago", ecohing concerns from other retailers such as Target and Home Depot.
