Walmart (WMT) stock fell 7% on Thursday after the retailer reported fiscal first quarter earnings that were in line with expectations, but remained cautious on guidance as higher gas prices pinch consumers’ wallets.
“Importantly, these new businesses are more profitable than traditional retail, which should help Walmart to grow its operating income faster than sales,” Telsey Advisory Group’s Joe Feldman said.
To view the full article, please click on the following link:
Visit Content