Walmart earnings included a warning for Best Buy investors
- 2 tahun yang lalu
If Walmart's second quarter sales trends in electronics are any indication, Best Buy could announce a dud of a quarter and outlook in a few short weeks.
In Walmart's earnings release on Tuesday, the world's largest retailer cited "softness" in electronics at its Walmart U.S. division. And at Sam's Club U.S., sales fell by a high-single digit percentage in the tech, office, and entertainment category.
Walmart CFO John David Rainey struck a cautiously optimistic tone on the state of the U.S. consumer in an interview with Yahoo Finance but noted key behavior changes due to unrelenting inflation.
The savings grace for Best Buy is that the market knows the bad news is coming soon and perhaps already factored that into the stock price. Best Buy stock is down 15% year to date.
In Walmart's earnings release on Tuesday, the world's largest retailer cited "softness" in electronics at its Walmart U.S. division. And at Sam's Club U.S., sales fell by a high-single digit percentage in the tech, office, and entertainment category.
Walmart CFO John David Rainey struck a cautiously optimistic tone on the state of the U.S. consumer in an interview with Yahoo Finance but noted key behavior changes due to unrelenting inflation.
The savings grace for Best Buy is that the market knows the bad news is coming soon and perhaps already factored that into the stock price. Best Buy stock is down 15% year to date.