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Stockreport

Walmart CEO Doug McMillon says customers are exhibiting ‘stressed behaviors'—and it's already tanked the company's valuation by $22 billion [Fortune]

Amazon.com, Inc. (AMZN)  More Company Research Source: Fortune
Last amazon.com, inc. earnings: 4/30 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: phx.corporate-ir.net/phoenix.zhtml%3fc%3d97664%26p%3dirol-irhome
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's 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 Tuesday. This was the fourth consecutive month consumer confidence fell. The index fell to 65.2, which is “well below the threshold of 80 that usually signals a recession ahead .” “Consumers' optimism about future income—which had held up quit [Read more]
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