Walmart CEO Doug McMillon says customers are exhibiting ‘stressed behaviors'—and it's already tanked the company's valuation by $22 billion [Yahoo! Finance]
Amazon.com, Inc. (AMZN)
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Source: Yahoo! Finance
CEO Doug McMillon had just said last month he'd noticed “stressed” behavior from consumers who were more budget-constrained. Consumer confidence is waning—and it's hurting retailers big and small. It has even come for the world's largest retailer, Walmart , which lost nearly $22 billion off its valuation on Tuesday. Walmart's share price dropped about 3% by market close on Tuesday, resulting in its market cap falling to roughly $680 billion. This comes at the heels of mega e-commerce retailer Amazon dethroning Walmart in its quarterly revenue for the first time ever last month. Uncertainty about the economy can be partly to blame. Consumer confidence hit a 12-year low amid concerns about tariffs and inflation, the Conference Board reported
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AMZN
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- 2/6/25 - Beat
AMZN
Sec Filings
- 3/12/25 - Form 4
- 3/5/25 - Form 4
- 3/5/25 - Form 4
- AMZN's page on the SEC website